A PROJECT REPORT ON

“ JOB SATISFACTION LEVEL OF EMPLOYEES

AT HDFC BANK”

Submitted by:

Abhilasha Vyas

2K14/MBA/02

Under the guidance of :

Dr Shikha N Khera

Assistant Professor

DELHI SCHOOL OF MANAGEMENT

Delhi Technological University
Bawana Road Delhi 110042
Jan-May 2016
 CERTIFICATE FROM THE INSTITUTE

This is to certify that the project titled ” JOB SATISFACTION LEVEL AT

HDFC BANK” , is a bonafide work carried out by ABHILASHA VYAS of
MBA 2014-16 and submitted to Delhi School of Management, Delhi Technological
University, Bawana Road, Delhi-42 in partial fulfillment of the requirement for the
award of the Degree of Masters of Business Administration.

SIGNATURE OF HEAD (DSM)

SIGNATURE OF GUIDE SEAL OF HEAD

PLACE –DELHI

DATE-

2
 DECLARATION

I ABHILASHA VYAS, student of MBA 2014-16 of Delhi School of

Management, Delhi Technological University here by solemnly declare that the
project titled “JOB SATISFACTION LEVEL OF EMPLOYEES AT HDFC
BANK” , is my original as all the information, facts and figure in this report is based
on my own experience and study.

The report is not being submitted to any other University for award of any other
Degree,Diploma or Fellowship.

ABHILASHA VYAS

PLACE- DELHI
DATE-

3
 ACKNOWLEDGEMENT

It is a great opportunity & pleasure for me to express my profound gratitude towards

all the individuals who directly or indirectly contributed towards completion of this
report.
Working on this report was a great fun, excitement, challenges and a new exposure
in the field of Human Resource.
I am greatly indebted to those people under whose guidance and concern I am able
to bring the report into its real shape. I am thankful to all faculty members of
management department and HRD of the company in providing me useful guidance
for the completion of this report.
I express my gratitude to HOD, Mr . P.K. Suri.I also extend my gratitude to my
Project guide Dr. Shikha N Khera who assisted me throughout in compiling the
project.
Finally I would be failing in my duty if I don't express my thanks to the respondents
whom I visited and took their valuable time to answer my questionnaire.

I perceive as this opportunity as a big milestone in my career development.I will

strive to use gained skills and knowledge in the best possible way and I will continue
to work on their improvement.Hope to continue cooperation with all of you in the
future.

ABHILASHA VYAS

4
 PREFACE
Partial knowledge is an impotent suffix to theoretical knowledge; one cannot merely
rely upon the theoretical knowledge. Classroom make the fundamental concept
clear, but practical survey in a firm has significant role to play in a subject of
Business Management to develop managerial skills, it is necessary that they combine
their classroom's learning with the knowledge of real business environment.

I am extremely happy to place before the esteemed Teachers/Management( Dr.

Shikha N Khera,) the Report of the project entitled "STUDY ON JOB
SATISFACTION LEVEL OF EMPLOYEES".

It has not only helped me to enhance my knowledge about various fields of Human
Resources & Company responsibilities towards their welfare but also gave new
dimension to my knowledge about psychology & attitude of the Employees towards
the work & their duties.

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 TABLE OF CONTENTS

S NO. TITLE NAME PAGE NO.

1 Introduction 6
1.1 Introduction of the sector 8
1.2 Introduction of the organization 12
1.3 Need of the study 24
1.4 Objectives 25

2 Literature Review 26-39

3 Research Methodology
3.1 Research type 40
3.2Scope of the study 41
3.3 Data collection and analysis 42-55
3.4Conclusions and Recommendations 56-58
3.5 Limitations of the study 59

4 Bibliography 60

5 Annexure 61-66

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 CHAPTER 1

INTRODUCTION
The topic is concerned with the Study on Job Satisfaction level of Employees at
HDFC BANK,DELHI.

"People don't leave their jobs, they leave their managers."

Although committed and loyal employees are the most influential factor to becoming
an employer of choice, it's no surprise that companies and organizations face
significant challenges in developing energized and engaged workforces. However,
there is plenty of research to show that increased employee commitment and trust in
leadership can positively impact the company's bottom line. In fact, the true potential
of an organization can only be realized when the productivity level of all individuals
and teams are fully aligned, committed and energized to successfully accomplish the
goals of the organization.
As a result, the goal of every company should be to improve the desire of employees
to stay in the relationship they have with the company. When companies understand
and manage employee loyalty - rather than retention specifically - they can reap
benefits on both sides of the balance sheet i.e., revenues and costs.
On the revenue side of the balance sheet, loyal and committed employees are more
likely to go "above and beyond" to meet customer needs and are highly motivated to
work to the best of their ability.

On the cost side, loyal employees stay longer, resist competitive job offers, do not
actively look for other employment and recommend the company to others as a good
place to work. These four behaviors positively influence the cost side of the balance
sheet.
In other words, rather than focusing only on retention (that is, trying to retain
employees who have already decided to leave), organizations should proactively
recognize the benefits of understanding, managing and improving employee
satisfaction. The most successful organizations are those that can adapt their
organizational behavior to the realities of the current work environment where
success is dependent upon innovation, creativity and flexibility.

7
One of the key steps to understanding and improving employee satisfaction is by
acknowledging the importance of the following factors in building loyalty and
satisfaction:
• Broadly-defined responsibilities rather than narrowly-defined job functions
• Effective and regular performance evaluations, both formally and informally
• A corporate emphasis on employee learning, development and growth
Wide-ranging employee participation in the organization as a whole.

Typically, a combination of factors influences employees' decisions to stay at their

current job. Contributing factors include satisfying work, a sense of job security,
clear opportunities for advancement, a compelling corporate mission combined with
the ability to contribute to the organization's success, and a feeling that their skills
are being effectively used and challenged. Specifically, employees who enjoy their
work identify themselves with their employer and perceive that the company is
flexible regarding work and family issues also intend to stay with the organization.
In particular, consider the following elements of effective strategies designed to
build satisfaction and retain key employees:
• Include opportunities for personal growth and invest heavily in the
professional development of the best people in the organization.
• Provide employees with well-defined career paths (including a succession
plan), mentors and tuition reimbursement for job-related education.
• Train employees, even if it makes them more attractive to the competition.
Without seeing an opportunity on the horizon, few high potential employees
will stay with a company and allow themselves to grow stagnant.
• Acknowledge non-work priorities by recognizing and responding to
employees' needs for greater balance in their lives, since employees will
develop loyalty for organizations that respect them as individuals, not just as
workers.

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1.1 INDIAN BANKING SYSTEM

FIGURE A

Showing banking system of India

9
 FIGURE B

Showing HDFC ‘s position in Indian Banking System

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1.1.1 INDIAN BANKING INDUSTRY ANALYSIS:

The banking scenario in India has been changing at fast pace from being just the
borrowers and lenders traditionally, the focus has shifted to more differentiated and
customized product/service provider from regulation to liberalization in the year
1991, from planned economy to market.

Economy, from licensing to integration with Global Economics, the changes have
been swift. All most all the sector operating in the economy was affected and
banking sector is no exception to this. Thus the whole of the banking system in the
country has undergone a radical change. After independence in 1947 and
proclamation in 1950 the country set about drawing its road map for the future public
ownership of banks was seen inevitable and SBI was created in 1955 to spearhead
the expansion of banking into rural India and speed up the process of magnetization.

Political compulsion’s brought about nationalization of bank in 1969 and lobbying

by bank employees and their unions added to the list of nationalized banks a few
years later.

Slowly the unions grew in strength, while bank management stagnated. The casualty
was to the customer service declined, complaints increased and bank management
was unable to item the rot.

In the meantime, technology was becoming a global phenomenon lacking a vision

of the future and the banks erred badly in opposing the technology up gradation of
banks. They mistakenly believed the technology would lead to retrenchment and
eventually the marginalization of unions.
11
The problem faced by the banking industry soon surfaced in their balance sheets.
But the prevailing accounting practices unable banks to dodge the issue.

The rules of the game under which banks operated changed in 1993. Norms or
income Recognition, Assets classification and loan loss provisioning were put in
place and capital adequacy ratio become mandatory. The cumulative impact of all
these changes has been on the concept of state ownership in banks. It is increasingly
becoming clear that the state ownership in bank is no longer sustainable.

The amendment of banking regulation act in 1993 saw the entry of new private sector
banks and foreign banks.

MAJOR PLAYERS IN INDIA as per Indian Banking Industry report 2015

1. HDFC BANK LTD

2. ICICI BANK LTD
3. STATE BANK OF INDIA LTD
4. PUNJAB NATOINAL BANK LTD
5. BANK OF BARODA LTD
6. FEDERAL BANK LTD
7. AXIS BANK LTD
8. ING VYSYA BANK LTD
9. IDBI BANK LTD
10.INDUSIND BANK LTD
11.YES BANK LTD

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 1.2 HDFC BANK

The Housing Development Finance Corporation Limited (HDFC) was amongst

the first to receive an 'in principle' approval from the Reserve Bank of India
(RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the
Indian Banking Industry in 1994. The bank was incorporated in August 1994 in
the name of 'HDFC Bank Limited', with its registered office in Mumbai, India.
HDFC Bank commenced operations as a Scheduled Commercial Bank in January
1995. HDFC is India's premier housing finance company and enjoys an
impeccable track record in India as well as in international markets. Since its
inception in 1977, the Corporation has maintained a consistent and healthy growth
in its operations to remain the market leader in mortgages. Its outstanding loan
portfolio covers well over a million dwelling units. HDFC has developed significant
expertise in retail mortgage loans to different market segments and also has a large
corporate client base for its housing related credit facilities. With its experience
in the financial markets, a strong market reputation, large shareholder base and
unique consumer franchise, HDFC was ideally positioned to promote a bank in the
Indian environment.

HDFC Bank began operations in 1995 with a simple mission : to be a “ World Class
Indian Bank.” It realized that only a single minded focus on product quality and
service excellence would help it get there. Today, They are proud to say that they
are well on their way towards that goal.

HDFC Bank Limited (the Bank) is an India-based banking company engaged in

providing a range of banking and financial services, including commercial banking
13
and treasury operations. The Bank has a network of 1412 branches and 3295
automated teller machines (ATMs) in 528 cities and total employees is 52687.

1.2.1 HISTORY OF HDFC BANK

HDFC BANK LTD was incorporated in August 1994 in the name of 'HDFC Bank
Limited',with its registered office in Mumbai, India. HDFC Bank commenced
operations as a Scheduled Commercial Bank in January 1995.

If ever there was a man with a mission it was Hasmukhbhai Parekh, Founder and
Chairman-Emeritus, of HDFC Group. HDFC BANK LTD was amongst the first
to set up a bank in the private sector. The bank was incorporated on 30th
August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in
Mumbai.It commenced operations as a Scheduled Commercial Bank on 16th
January 1995. The bank has grown consistently and is now amongst the leading
players in the industry. .
HDFC is India's premier housing finance company and enjoys an impeccable track
record in India as well as in international markets. Since its inception in 1977, the
Corporation has maintained a consistent and healthy growth in its operations to
remain the market leader in mortgages. Its outstanding loan portfolio covers well
over a million dwelling units.It has developed significant expertise in retail mortgage
loans to different market segments and also has a large corporate client base for its
housing related credit facilities. With its experience in the financial markets, a strong
market reputation, large shareholder base and unique consumer franchise, HDFC
was ideally positioned to promote a bank in the Indian environment In a milestone
transaction in the Indian banking industry, Times Bank was merged with HDFC
Bank Ltd., effective February 26, 2000.

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1.2.2 MISSION

I. World Class Indian Bank

II. Benchmarking against international standards.
III. To build sound customer franchises across distinct businesses
IV. Best practices in terms of product offerings, technology, service levels, risk
management and audit & compliance

1.2.3 VISION STATEMENT OF HDFC BANK

The HDFC Bank is committed to maintain the highest level of ethical standards,
professional integrity and regulatory compliance. HDFC Bank’s business
philosophy is based on four core values such as:-

Operational excellence.
Customer Focus.
Product leadership.
People.
The objective of the HDFC Bank is to provide its target market customers a full
range of financial products and banking services, giving the customer a one-step
window for all his/her requirements. The HDFC Bank plus and the investment
advisory services programs have been designed keeping in mind needs of customers
who seeks distinct financial solutions, information and advice on various investment
avenues.

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 1.2.4 BUSINESS STRATEGY

• Increasing market share in India’s expanding banking

• Delivering high quality customer service
• Maintaining current high standards for asset quality through disciplined credit
risk management
• Develop innovative products and services that attract targeted customers and
address inefficiencies in the Indian financial sector.

1.2.5 INTIATIVES TAKEN BY HDFC TILL 2015

• CDP
At HDFC Bank, It constantly strive to reduce our impact on the environment and
mitigate climatic risks through environmentfriendly initiatives. Since 2010, they
have been undertaking the estimation of their carbon footprint each year and have
been disclosing environmental performance through the Carbon Disclosure Project
(CDP).

• Social and Environmental Risk Management System (SEMS)

Social and Environmental Risk Management System (SEMS) helps screen projects
that they finance.Under this system, all projects worth more than INR 10 Cr and for
a period of more than five years are assessed for risks related to negative social
and/or environmental impacts before an approval is given. During the reporting
period, 73 term loans aggregating INR 6,965.62 Cr were disbursed after being
screened through SEMS.

• Promoting Digital Banking

It began its digital journey by launching NetBanking services in 1999, and SMS
banking in 2000. Since then it progressed on this journey, having developed a mobile
site and subsequently a mobile application for its customers. During the reporting
period, It clinched the top position in mobile banking transactions across India's
Banking sector.Customer convenience is central to its concept of being
16
“digital”.As part of 'Go Digital' offering, they launched it.

• Bank Aap Ki Muththi Mein , an initiative that virtually transforms a smart

phone into a bank branch. It offers customers the option of carrying out a
wide range of over 75 financial and non-financial transactions without needing
to visit a branch or an ATM.It is a technology-agnostic initiative available on
the three popular smartphone platforms of iOS, Android, and Windows.

• Chillr
In March 2014, It launched Chillr in partnership with MobMe, atechnology firm
based in Kochi.A first-of-its kind application, Chillr is a mobile app that is linked
directly to the customer's bank account,and allows them to instantly transfer money
to any contact in their phonebook 24 hours a day, seven days a week. With this
app,customers no longer have to ask for account information and wait for a set
duration of time in order to add beneficiaries when they wish to transfer money.
Further, no passwords are stored on the phone andthe app can be accessed only with
an M-PIN known to the customer alone. A

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1.2.6 PRODUCT AND SERVICES OF HDFC

A. INVESMENT AND INSURANCE SERVICE

• Mutual Funds

Invest through the Mutual Fund route to meet varied investment objectives.

• Insurance

Traditional Plans Unit Linked Plans

HDFC children's PLAN. HDFC Unit Linked Young Star Plus II.

HDFC Money Back Plan. HDFC Unit Linked Young Star Suvidha.

HDFC Savings Assurance Plan. HDFC Unit Linked Young Star Suvidha Plu

HDFC Assurance Plan. HDFC Unit Linked Pension.

HDFC Term Assurance Plan. HDFC Unit Linked Pension Plus.

HDFC Loan Cover Term Assurance Plan. HDFC Unit Linked Endowment Plus II.

HDFC Endowment Assurance Plan. HDFC Unit Linked Endowment Suvidha.

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HDFC Single Premium Whole of Life Insurance HDFC Unit Linked Endowment Suvidha

HDFC Unit Linked Enhanced Life Protection

B. GENERAL AND HEALTH INSURANCE

Complete protection for business, health, travel & more.

Bonds

A secure investment avenue giving stable returns with tax benefits.

Financial Planning

Start Now Plan investments to meet financial goals

Knowledge Centre

Profit from research and make informed investment decisions.

Equities & Derivatives

Leverage bank’s vast information repository and transact online.

Mudra Gold Bar

Buy 24 Karat gold bars made in Switzerland and certified by Assay.

C. FOREX AND TRADE SERVICE

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HDFC Bank has a range of products and services that people can choose from to
transact smoothly, efficiently and in a timely manner.Bank offering following

Travelers Cheques.

Foreign Currency Cash.

Foreign Currency Drafts.

Cheque Deposits.

Remittances.

Cash to Master.

Trade Services.

Forex Services Branch Locator.

Important guidelines and schedules All Foreign Exchange transactions are

conducted by strictly adhering to RBI guidelines. Depending on the nature of
transaction or point of travel, people will need to understand his Foreign Exchange
limits.

D. PAYMENT SERVICE

Nowadays life of a person become very stressful and he/she becoming busy with
their own business, but they have to payment for something so for that reason bank’s
payment services become started.With HDFC Bank's payment services, person can
bid goodbye to queues and paper work. Bank’s range of payment options make it
easy for pay for a variety of utilities and services.

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 • Verified By Visa

Do you want to be worry free for your online purchases. Now you can shop securely
online with your existing Visa Debit/Credit card.

• Net Safe

Now shop online without revealing your HDFC Bank Credit Card number. What
more, you can now use your HDFC Bank Debit Card also for online purchases.

• Merchant Services

Accept all Visa, MasterCard, credit and Debit cards at your outlets through state of
the art POS Machines or through your website and experience hassle free payment
acceptance.

• Prepaid Mobile Refill

If you are an HDFC Bank Account holder, you can now recharge your Prepaid
mobile.

• Bill Pay

Pay your telephone, electricity and mobile phone bills at your convenience. Through
the Internet, ATMs, your mobile phone and telephone - with Bill Pay, our
comprehensive bill payments solution

• Visa Bill Pay

Pay your utility bills from the comfort of your home! Pay using your HDFC Bank
Visa credit card and forget long queue and late payments forever

• Pay Now

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Use your HDFC Bank Credit Card to pay your utility bills online, make subscriptions
and donations; no registration required.

• Insta Pay

Pay your bills, make donations and subscribe to magazines without going through
the hassles of any registration.

• Direct Pay

Shop or Pay bills online without cash or card. Debit your account directly with our
Direct Pay service!

• Visa Money Transfer

Transfer funds to any Visa Card (debit or credit) within India at your own
convenience through HDFC Bank's Net Banking facility.

• e-Monies National Electronic Funds Transfer

Transfer funds from your account to other Bank accounts across India - FREE of
cost.

• Online Payment of Excise & Service Tax

Make your Excise and Service Tax payments at your own convenience through
HDFC Bank's Net Banking facility.

• Religious Offerings

Now donate to your favorite temple easily and securely using HDFC BANK's Net
Banking.

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1.2.7 SWOT ANALAYSIS OF HDFC BANK

A. STRENGTH

 Right strategy for the right products.

 Superior customer service vs. competitors.
 Great Brand Image
 Products have required accreditations.
 High degree of customer satisfaction.
 Good place to work
 Lower response time with efficient and effective service.
 Dedicated workforce aiming at making a long-term career in the field.

B. WEAKNESS

 Some gaps in range for certain sectors.

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 Customer service staff need training.
 Processes and systems, etc
 Management cover insufficient.
 Sectoral growth is constrained by low unemployment levels and
competition for staff

C. OPPORTUNITIES

 Profit margins will be good.

 Could extend to overseas broadly.
 New specialist applications.
 Could seek better customer deals.
 Fast-track career development opportunities on an industry-wide basis.
 An applied research centre to create opportunities for developing techniques
to provide added-value services.

D. THREATS

 Legislation could impact.

 Great risk involved
 Very high competition prevailing in the industry.
 Vulnerable to reactive

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  attack by major competitors
 Lack of infrastructure in rural areas could constrain investment.
 High volume/low cost market is intensely competitive.

1.3 NEED FOR THE STUDY

Why Measure Employee Satisfaction
A company is only as strong and successful as its members, its employees, are. By
measuring employee satisfaction in key areas, organizations can gain the information
needed to improve employee satisfaction, retention, and productivity. However, a
recent study by the Society of Human Resource Management (SHRM) indicated that
often the HR department's perceptions of employee satisfaction versus the true
measure of employee satisfaction are not always in sync.

Employees who aren’t satisfied with their jobs are very likely to leave. If they don’t
leave they can become a source of bad morale and do a great deal of harm in the
organization. In many cases employers without proper data will assume the wrong
reasons for employee dissatisfaction. Many bosses will automatically think that
money is the top reason for leaving a job. Wouldn’t it be better to have real data and
react accordingly?

Surveying employees on a regular basis is a great way to stay in touch with the pulse
of the business. Before launching a survey though it is important to establish the
ground rules.
Many employees will be unwilling to express their honest feelings if they think they
will be singled out. Make sure that the surveys are conducted with anonymity. Be
certain to have the support of company management all the way to the top.
Employees want to know that the leadership is behind the survey and that their
responses will be taken seriously.

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Explain that employee comments are important to the company. State what will be
done with the results. And then live up to those statements. Employees will become
doubtful of management’s intentions if they don’t follow through.
There are many resources to assist companies in the survey process. However most
human resource managers are very capable of designing and conducting their own
employee satisfaction survey.

1.3 OBJECTIVES OF THE STUDY

1.To analyze the satisfaction level of the employees in work and non-work
conditions (work ,rewards,grievance,security,welfare measures,organizational
policy etc).

2. To study the impact of different variables such as the occupational level, age,
education, organizational climate, economic background and gender, on the various
factors affecting the overall job satisfaction.

3.To identify the factors responsible for job dissatisfaction and minimize such factors
in future.

4.To suggest some measures for improving the satisfaction level of the employees.

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CH. 2 LITERATURE REVIEW OF JOB SATISFACTION
The father of scientific management Taylor's (1911) approach to job satisfaction
was based on a most pragmatic & essentially pessimistic philosophy that man is
motivation by money alone. That the workers are essentially 'stupid & phlegmatic'
& that they would be satisfied with work if they get higher economic benefit from
it. But with the passage of time Taylor's solely monetary approach has been changed
to a more humanistic approach. It has come a long way from a simple explanation
based on money to a more realistic but complex approach to job satisfaction. New
dimensions of knowledge are added every day & with increasing understanding of
new variables & their inter play, the field of job satisfaction has become difficult to
comprehend.

Job satisfaction is an attitude, which Porter, Steers, Mowday and Boulian (1974)
state is a more "rapidly formed" and a "transitory" work attitude "largely associated
with specific and tangible aspects of the work environment". There are different
perspectives on job satisfaction and two major classifications of job satisfaction

27
(Naumann, 1993) are content (Herzberg, 1968; Maslow, 1987; Alderfer, 1972) and
process theories (Adams, 1965; Vroom, 1964; Locke, 1976; Hackman &
Oldham, 1975). Job satisfaction ―is often considered in terms of intrinsic and
extrinsic factors. Intrinsic factors (e.g., opportunities for advancement and growth,
recognition, responsibility, achievement) promote job satisfaction, whereas extrinsic
factors (e.g., supervision, pay, policies, working conditions, interpersonal relations,
security) prevent job dissatisfaction‖ Szymanski & Parker (1996). Various theories
like Maslow's Need Hierarchy Theory, Herzberg's Motivation,
Hygiene Theory, and Vroom's Expectancy Model have been extended to describe
the factors responsible for the Job Satisfaction of the say that an employee’s 'Job
Satisfaction' is related to a number of variables such as age, occupational level, size
of the organization, organizational climate, educational commitment, and more
likely to be satisfied with their lives.

Job Satisfaction Project Report Theory :

One way to define Job Satisfaction may be to say that it is the end state of feeling.
The word 'end' emphasises the fact that the feeling is experienced after a task is
accomplished or an activity has taken place whether it is highly individualistic effort
of writing a book or a collective endeavour of constructing a building. These
activities may be minute or large. But in all cases, they satisfy a certain need. The
feeling could be positive or negative depending upon whether need is satisfied or not
& could be a function of the effort of the individual on one hand & on the other the
situational opportunities available to him.

Another Theories of Job-Satisfaction :

There are 3 major theories of job satisfaction.

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 • Herzberg's Motivation - Hygiene theory.
• Need fulfilment theory.
• Social reference - group theory.

Herzberg's Motivation - Hygiene Theory :

This theory was proposed by Herzberg & his assistants in 1969. On the basis of his
study of 200 engineers and accountants of the Pittsburgh area in the USA, he
established that there are two separate sets of conditions (and not one) which are
responsible for the motivation & dissatisfaction of workers. When one set of
conditions (called 'motivator') is present in the organisation, workers feel motivated
but its absence does not dissatisfy them. Similarly, when another set of conditions
(called hygiene factors) is absent in the organisation, the workers feel dissatisfied
but its presence does not motivate them. The two sets are unidirectional, that is, their
effect can be seen in one direction only.

According to Herzberg following factors acts as motivators:

Achievement, Recognition, Advancement, Work itself, Possibility of growth &

Responsibility.

Hygiene factors are : Company policy & administration, Technical supervision,

Inter-personal relations with supervisors, peers & Subordinates, Salary. Job security,
Personal life, Working Conditions, & Status.

Herzberg used semi-structured interviews (the method is called critical incident

method). In this technique subjects were asked to describe those events on the job
which had made them extremely satisfied or dissatisfied. Herzberg found that events
which led people to extreme satisfaction were generally characterised by 'motivators'
& those which led people to extreme dissatisfaction were generally characterized by
a totally different set of factors which were called 'hygiene factors'.

Hygiene factors are those factors which remove pain from the environment. Hence,
they are also known as job - environment or job - context factors. Motivators are

29
factors which result in psychological growth. They are mostly job - centered. Hence
they are also known as job - content factors.

The theory postulated that motivators and hygiene factors are independent & absence
of one does not mean presence of the other. In pleasant situations motivators appear
more frequently than hygiene factors while their predominance is reversed in
unpleasant situations.

Need Fulfillment Theory :

Under the need-fulfillment theory it is believed that a person is satisfied if he gets

what he wants & the more he wants something or the more important it is to him,
the more satisfied he is when he gets it & the more dissatisfied he is when he does
not get it. Needs may be need for personal achievement, social achievement & for
influence.

a) Need for Personal Achievement :

Desires for personal career development, improvement in one's own life standards,
better education & prospects for children & desire for improving one's own work
performance.

b) Need for Social Achievement :

A drive for some kind of collective success is relation to some standards of

excellence. It is indexed in terms of desires to increase overall productivity,
increased national prosperity, better life community & safety for everyone.

c) Need for Influence :

A desire to influence other people & surroundings environment. In the works

situation, it means to have power status & being important as reflected in initiative
taking and participation in decision making.

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In summary, this theory tell us that job satisfaction is a function of, or is positively
related to the degree to which one's personal & social needs are fulfilled in the job
situation.

Social References - Group Theory :

It takes into account the point of view & opinions of the group to whom the
individual looks for the guidance. Such groups are defined as the 'reference-group'
for the individual in that they define the way in which he should look at the world
and evaluate various phenomena in the environment (including himself). It would be
predicted, according to this theory that if a job meets the interest, desires and
requirements of a person's reference group, he will like it & if it does not, he will not
like it.

A good example of this theory has been given by C.L. Hulin. He measures the effects
of community characteristics on job satisfaction of female clerical workers
employed in 300 different catalogue order offices. He found that with job conditions
held constant job satisfaction was less among persons living in a wellto-do
neighborhood than among those whose neighborhood was poor. Hulin, thus provides
strong evidence that such frames of reference for evaluation may be provided by
one's social groups and general social environment.

To sum up, we can say, Job satisfaction is a function of or is positively related to the
degree to which the characteristics of the job meet with approved & the desires of
the group to which the individual looks for guidance in evaluating the world &
defining social reality.

• Relationship among Motivation, Attitude and Job Satisfaction :

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

and equipped with all kinds of abilities & skills but may have no will to work.
Satisfaction, on the other hand, implies a positive emotional state which may be
totally unrelated to productivity. Similarly in the literature the terms job attitude and
job satisfaction are used interchangeably. However a closer analysis may reveal that
31
perhaps, they measure two different anchor points. Attitudes are predispositions that
make the individual behave in a characteristic way across the situations.

They are precursors to behaviour & determine its intensity and direction. Job
satisfaction, on the other hand is an end state of feeling which may influence
subsequent behaviour. In this respect, job attitude and job satisfaction may have
something in common. But if we freeze behaviour, attitude would initiate it which
job satisfaction would result from it.

• Relationship Between Morale & Job Satisfaction :

According to Seashore (1959), morale is a condition which exists in a context where

people are :

a) motivated towards high productivity.

b) want to remain with organization.

c) act effectively in crisis.

d) accept necessary changes without resentment or resistance.

e) actually promote the interest of the organization and

f) are satisfied with their job.

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

of morale itself.

Morale is a general attitude of the worker and relates to group while job satisfaction
is an individual feeling which could be caused by a variety of factors including
group. This point has been summarized by Sinha (1974) when he suggests that
industrial morale is a collective phenomenon and job satisfaction is a distributed one.
In other words, job satisfaction refers to a general attitude towards work by an
individual works. On the other hand, morale is group phenomenon which emerges

32
as a result of adherence to group goals and confidence in the desirability of these
goals.

Relationship Between Job Satisfaction and Work Behaviour :

Generally, the level of job satisfaction seems to have some relation with various
aspects of work behaviour like absenteeism, adjustments, accidents, productivity and
union recognition. Although several studies have shown varying degrees of
relationship between them and job satisfaction, it is not quite clear whether these
relationships are correlative or casual. In other words, whether work behaviour make
him more positively inclined to his job and there would be a lesser probability of
getting to an unexpected, incorrect or uncontrolled event in which either his action
or the reaction of an object or person may result in personal injury.

Job Satisfaction and Productivity :

Experiments have shown that there is very little positive relationship between the
job satisfaction & job performance of an individual. This is because the two are
caused by quite different factors. Job satisfaction is closely affected by the amount
of rewards that an individual derives from his job, while his level of performance is
closely affected by the basis for attainment of rewards. An individual is satisfied
with his job to the extent that his job provides him with what he desires, and he
performs effectively in his job to the extent that effective performance leads to the
attainment of what he desires. This means that instead of maximizing satisfaction
generally an organisation should be more concerned about maximizing the positive
relationship between performance and reward. It should be ensured that the poor
performers do not get more rewards than the good performers. Thus, when a better
performer gets more rewards he will naturally feel more satisfied.

Job Satisfaction and Absenteeism :

33
One can find a consistent negative relationship between satisfaction and
absenteeism, but the correlation is moderate-usually less than 0.40. While it certainly
makes sense that dissatisfied Sales Persons are more likely to miss work, other
factors have an impact on the relationship and reduce the correlation coefficient. e.g.
Organizations that provide liberal sick leave benefits are encouraging all their Sales
Persons, including those who are highly satisfied, to take days off. So, outside factors
can act to reduce the correlation.

Job Satisfaction and Turnover :

Satisfaction is also negatively related to turnover, but the correlation is stronger than
what we found for absenteeism. Yet, again, other factors such as labour market
conditions, expectations about alternative job opportunities, and length of tenure
with the organization are important constraints on the actual decision to leave one's
current job.

Evidence indicates that an important moderator of the satisfaction-turnover

relationship is the Sales Person's level of performance. Specifically, level of
satisfaction is less important in predicting turnover for superior performers because
the organization typically makes considerable efforts to keep these people. Just the
opposite tends to apply to poor performers. Few attempts are made by the
organization to retain them. So one could expect, therefore, that job satisfaction is
more important in influencing poor performers to stay than superior performers.

Job Satisfaction and Adjustment :

It the Sales Person is facing problems in general adjustment, it is likely to affect his
work life. Although it is difficult to define adjustment, most psychologists and
organisational behaviourists have been able to narrow it down to what they call
neuroticism and anxiety.

Generally deviation from socially expected behaviour has come to be identified as

neurotic behaviour. Though it may be easy to identify symptoms of neuroticism, it

34
is very difficult to know what causes. Family tensions, job tensions, social isolation,
emotional stress, fear, anxiety or any such sources could be a source of neuroticism.
Anxiety, on the other hand, has a little more clearer base. It is generally seen as a
mental state of vague fear and apprehension which influences the mode of thinking.
Anxiety usually shows itself in such mental state as depression, impulsiveness,
excessive worry and nervousness. While everyone aspires for a perfect state of peace
and tranquility, the fact is that some anxiety is almost necessary for an individual to
be effective because it provides the necessary push for efforts to achieve excellence.

Adjustment problems usually show themselves in the level of job satisfaction. For
long, both theorists and practitioners have been concerned with Sales Persons'
adjustment and have provided vocational guidance and training to them to minimise
it's impact on work behaviour. Most literature, in this area, generally suggests a
positive relationship between adjustment and job satisfaction. People with lower
level of anxiety and low neuroticism have been found to be more satisfied with their
jobs.

Determinants of Job Satisfaction :

According to Abrahan A. Korman, there are two types of variables which determine
the job satisfaction of an individual. These are :

1) Organisational variables ; and

2) Personal Variables.

Organisational Variable :

1) Occupational Level :

The higher the level of the job, the greater is the satisfaction of the individual. This
is because higher level jobs carry greater prestige and self control.

2) Job Content :

35
Greater the variation in job content and the less repetitiveness with which the tasks
must be performed, the greater is the satisfaction of the individual 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.

5) Interaction in the work group :

Here the question is : When is interaction in the work group a source of job
satisfaction and when it is not ? Interaction is most satisfying when -

(a) It results in the cognition that other person's attitudes are similar to one's own.
Since this permits the ready calculability of the others behaviour and constitutes
a validation of one's self ;

(b) It results in being accepted by others ; and

(c) It facilitates the achievements of goals.

Personal Variables :

For some people, it appears most jobs will be dissatisfying irrespective of the
organisational condition involved, whereas for others, most jobs will be satisfying.
Personal variables like age, educational level, sex, etc. are responsible for this
difference.
(1) Age :

36
Most of the evidence on the relation between age and job satisfaction, holding such
factors as occupational level constant, seems to indicate that there is generally a
positive relationship between the two variales up to the pre-retirement years and then
there is a sharp decrease in satisfaction. An individual aspires for better and more
prestigious jobs in later years of his life. Finding his channels for advancement
blocked, his satisfaction declines.

(2) Educational Level :

With occupational level held constant there is a negative relationship between the
educational level and job satisfaction. The higher the education, the higher the
reference group which the individual looks to for guidance to evaluate his job
rewards.

(3) Role Perception :

Different individuals hold different perceptions about their role, i.e. the kind of
activities and behaviours they should engage in to perform there job successfully.
Job satisfaction is determined by this factor also. The more accurate the role
perception of an individual, the greater his satisfaction.

(4) Sex :

There is as yet no consistent evidence as to whether women are more satisfied with
their jobs than men, holding such factors as job and occupational level constant. One
might predict this to be the case, considering the generally low occupational
aspiration of women.

Some other determines of job satisfaction are as follows:

(i) General Working Conditions.

(ii) Grievance handling procedure.

(iii) Fair evaluation of work done.

37
(iv) Job security.

(v) Company prestige.

(vi) Working hours etc.

How Sales Persons Can Express Dissatisfaction:-

Sales Person dissatisfaction can be expressed in a number of ways. For example,

rather than quit, Sales Persons can complain, be insubordinate, steal organisational
property, or shirk a part of their work responsibilities. In the following figure, four
responses are given along to dimensions : Constructiveness / Destructiveness and
Activity / Passivity. These are defined as follow :

Exit : Behaviour directed towards leaving the organisation. Includes looking for a
new position as well as resigning.

Active

Exit Voice

Destructive Constructive

Neglect Loyalty

Passive

Voice : Actively and constructively attempting to improve conditions includes

suggesting improvements, discussing problems with superiors, and some forms of
union activity.
Loyalty : Passively but optimistically waiting for conditions to improve. Includes
speaking up for the organisation in the face of external criticism and trusting the
organisation and its management to 'do the right thing'.

38
Neglect : Passively allowing the conditions to worsen. Includes chronic absenteeism
or lateness, reduced effort, and increased error rate.

Exit and neglect behaviours encompass our performances variables-productivity,

absenteeism and turnover. But this model expands Sales Person response to include
voice and loyalty, constructive behaviours that allow individuals to tolerate
unpleasant situations or to revive satisfactory working conditions.

Importance of High Job Satisfaction :

The importance of job satisfaction is obvious. Managers should be concerned with

the level of job satisfaction in their organisations for at least three reasons:

(1) There is clear evidence that dissatisfied Sales Persons skip work more often and
are more likely to resign ;

(2) It has been demonstrated that satisfied Sales Persons have better health and live
longer ; and

(3) Satisfaction on the job carries over to the Sales Person's life outside the job.

Satisfied Sales Persons have lower rate of both turnover and absenteeism.
Specifically, satisfaction is strongly and consistently negatively related to an Sales
Person's decision to leave the organisation. Although satisfaction and absence are
also negatively related, conclusions regarding the relationship should be more
guarded.

An often overlooked dimension of job satisfaction is its relationship to Sales Person

health. Several studies have shown that Sales Persons who are dissatisfied with their
jobs are prone to health setbacks ranging from headaches to heart disease. For
managers, this means that even if satisfaction did not lead to less voluntary turn over
and absence, the goal of a satisfied work force might be jutificable because it would
reduced medical costs and the premature loss of valued Sales Persons by way of
heart disease or strokes.

39
Job satisfaction's importance is its spin off effect that job satisfaction has for society
as a whole. When Sales Persons are happy with their jobs, it improves their lives off
the job. In contrast, the dissatisfied Sales Person carries that negative attitude home.

Some benefits of job satisfaction accure to every citizen in society. Satisfied Sales
Persons are more likely to be satisfied citizens. These people will hold a more
positive attitude towards life in general and make for a society of more
psychologically healthy people.

So job satisfaction is very important. For management, a satisfied work force

translates into higher productivity due to fewer disruptions caused by absenteeism
or good Sales Persons quitting, as well as into lower medical and life insurance costs.
Additionally, there are benefits for society in general. Satisfaction on the job carries
over to the Sales Person's off the job hours. So the goal of high job satisfaction for
Sales Persons can be defended in terms of both money and social responsibility

CHAPTER 3 RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the problem. It may be
understood as a science of studying how research is done scientifically. In it we study
the various steps that all generally adopted by a researcher in studying his research
problem along with the logic behind them.The scope of research methodology is
wider than that of research method. Thus when we talk of research methodology we
not only talk of research methods but also consider the logic behind the method we

40
use in the context of our research study and explain why are using a particular
method.

3.1 RESEARCH DESIGN

A framework or blueprint for conducting the research project. It specifies the details
of the procedures necessary for obtaining the information needed to structure and/or
solve research problems. A good research design lays the foundation for conducting
the project.A good research design will ensure that the research project is conducted
effectively and efficiently. Typically, a research design involves the following
components, or tasks:
• Define the information needed.
• Design the research.
• Specify the measurement and scaling procedures.
• Construct and present a questionnaire or an appropriate form for data
collection.
• Specify the sampling process and sampling size.
• Develop a plan of data analysis

3.2 SCOPE OF THE STUDY

JOB SATISFACTION is a general attitude towards one’s job, the difference between
the amount of reward workers receive and the amount they believe they should
receive.

41
An employee’s performance and satisfaction are likely to be higher if his or her
values fit well with the organization.

For instance,

• Job satisfaction is an individual general attitude towards his or her job.

• Job satisfaction should be major determinants of an employee
organizational citizenship behavior.
• A satisfied employee’s will be having positive attitude towards his or her
job would go beyond the normal expectation in their job.
A person who places high importance on imagination, independence and freedom is
likely to be poorly matched with an organization that seeks conformity from its
employees
In this project,2 branches were taken into account which are HDFC Uttam
Nagar,HDFC Vikas Puri.In total 50 employees were considered for the analysis
which were mainly of middle management.
As the study is a micro effort to gauge the satisfaction level of employees of HDFC
bank,hence the result can’t be generalized.

3.3 DATA COLLECTION AND ANALYSIS

The task of data collection is begins after a research problem has been defined and
research designed/ plan chalked out. Data collection is to gather the data from the
population. The data can be collected of two types:-

PRIMARY DATA -

42
Primary data are those, which are collected afresh and for the first time, and thus
happened to be original in character.

• Observation.

• Personal Interviews.

• Telephonic interviews.

• Questionnaires.

• Schedules

SECONDARY DATA

The Secondary data are those which have already been collected by someone else
and which have already been passed through the statistical tool. Methods of
collection of Secondary data
• Newspapers.

• Magazines

• Journals

• Internet

• Libraries

• Old records.

In this project ,both the method of data collection are used .

SAMPLE DESIGN

A sample design is a definite plan for obtaining a sample from a given population.

43
POPULATION

Theaggregateofalltheelements,sharingsomecomm
o n n s e t o f characteristics, that comprises the universe for the purpose of the
research problem.

SAMPLE
A subgroup of the elements of the population selected for participation in the study.
In this project sample size is 50 employees.

SAMPLING UNIT
The basic unit containing the elements of the population to be sampled.In this project
sampling unit is employees

SAMPLING TECHNIQUE USED IN SURVEY

Non-probability Sampling Techniques.

Convenience Sampling
Non-probability sampling techniques do not use chance selection procedures.
Rather, they rely on the personal judgment of the researcher where as probability
sampling procedure each element of the population has fixed probabilistic chance
of being selected for the sample.In our survey, we have used nonprobabilty
sampling technique because there is no way
of determining the probability of selecting any particular element for inclusion for
thesample, the estimates obtained are not statistically projectable to the population.
Among nonprabability sampling techniques, the sampling techniq ue applied here
isconvenience sampling. Convenience Sampling attempts to obtain a sample of
convenient elements.

QUESTIONNAIRE DESIGN
AQuestionnaire,whether it is called a schedule, interview form, or measuring
instrument, is a structured technique for data collection that consists of series of
question,written or verbal, that a respondent answers.
Objective Of A Questionnaire
• It must translates the information needed into a set of specific questions that
the respondents can and will answer.
44
 • A questionnaire must uplift, motivate, and encourage the respondent to
becomeinvolved in the interview, to cooperate, and to complete the interview.
• A questionnaire should minimize response error

ANALYSIS AND INTERPRETATION

Managers need information, not raw data. Research helps in generating information
byanalyzing data after its collection .data analysis usually involves reducing
accumulated data to a manageable size, developing summaries, looking for patterns
and applying statististical techniques. Scaled responses on questionnaires and
experimental instruments often require the analyst to derive various functions, as
well as to explore relationships among variables.In various cases when we deal with
statistics we find that the variables are related to each other or we can also say two
variables seem to move in the same direction such as both are increasing or
decreasing or even some factors tend to move in the opposite direction also means
one is increasing and the other is decreasing. Analysis has been done by applying
various statistical tools to study the basic factors that lead to Job satisfaction among
Job Work Assignees. Various important factors identified during the study are:-• Job
security• Motivation " Attitude• Stress .

1. Graph depicting the satisfaction level with respect to Remuneration:

45
SATISFACTION PERCENTAGE(%)
LEVEL

To a very small Nil

extent
To a small extent 21.2
To a large extent 48.8
To a very large 31
extent

Table 1

Remuneration

0.0%
To a very small
extent
To a small extent
30.0 % To a large extent
21.2% To a very large extent
48.8%

Graph 1

As shown in Graph 1, it can be inferred that

 21.2% of the employees are satisfied with the remuneration to a small extent.

 48.8% of the employees are satisfied with their remuneration to a large extent

 31% of the employees are very much satisfied with their remuneration.

46
 2. Graph depicting satisfaction level regarding Training &
Development

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 0
extent
To a small extent 28.3
To a large extent 34.6
To a very large 37.1
extent

Table 2

Training & Development

0.0%
To a very small
extent
To a small extent
To a large extent
28.3% To a very large extent
37.1%

34.6%
Graph 2

47
 3. Graph depicting satisfaction level regarding Communication with
peers and superiors

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 3.4

extent
To a small extent 26.6
To a large extent 43.2
To a very large 26.8
extent

Table 3

Communication

26.8
%

3.4%

To a very small
extent
To a small extent
26.6% To a large extent
43.2% To a very large extent

Graph 3

 3.4% of the employees feel very uncomfortable to communicate with their

peers and superiors.

48
  26.6% of the employees are satisfied to a small extent with regard to
communication.
 43.2% of the employees a satisfied to a large extent with regard to
communication

4. Graph depicting how clear are the employees regarding goals of their
departments and the organisation.

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 6.6

extent
To a small extent 10.0
To a large extent 56.6
To a very large 26.8
extent

Table 4

Goals

6.6%

To a very small
extent

26.8 % To a small extent

10.0% To a large extent
56.6% To a very large extent

Graph 4

49
  6.6% of the employees are not very clear with their goals.
 10% of the employees are clear to a small extent with their goals.
 56.6% of the employees are clear with their goals to a large extent.
 26.8% of the employees do not have any confusion with regard to their goals.
5. Graph showing the extent of teamwork present between the employees

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 8.12

extent
To a small extent 34.87
To a large extent 53.98
To a very large 3.03
extent

Table 5

Teamwork

3.0%
54.0%
8.1%
To a very small
extent
To a small extent
To a large extent
34.9%
To a very large extent

Graph 5

50
1. 8.1% of the employees are satisfied with teamwork to a very small extent.
2. 34.87% of the employees are satisfied with teamwork to a small extent.
3. 53.98% of the employees to a large extent are satisfied with teamwork
4. 3.03% of the employees are satisfied with teamwork to a very large extent.
6. Graph depicting the satisfaction level regarding promotions.

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 18.18

extent
To a small extent 32.24
To a large extent 36.57
To a very large 13.01
extent

Table 6

Promotions

13.0% 18.2%
36.6%

To a very small
extent
32.2% To a small extent
To a large extent
To a very large extent

Graph 6

51
  18.18% of the employees are dissatisfied with promotions.

 32.24% of the employees are satisfied with promotions to a small extent.

 36.57% of the employees are satisfied with promotions to a large extent.
 13.01% of the employees are satisfied with promotions to a very large extent.

7. Graph indicating satisfaction level regarding the leadership of

superiors.

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 16.7

extent
To a small extent 33.3
To a large extent 50
To a very large 0
extent

Table 7

Leadership

0.0% 16.7%

To a very small
extent
50.0%
33.3% To a small extent
To a large extent
To a very large extent

Graph 7

52
  16.7% of the employees are very much dissatisfied with leadership.
 33.3% of the employees are dissatisfied with leadership to a small extent.
 50% of the employees are satisfied with leadership to a large extent.

8. Graph depicting the satisfaction level of the employees regarding

Rewards & Punishment

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 19.8

extent
To a small extent 40.1
To a large extent 32.6
To a very large 7.5
extent

Table 8
Rewards & Punishment

7.5%
19.8% To a very small
extent
To a small extent
To a large extent
32.6% To a very large extent

40.1%

Graph 8

1. 19.8% of the employees feel that rewards & punishment system is not very effective.

53
 2. 40.1% of them feel that rewards & punishment system is effective to a small extent.

3. 32.6% of them feel that rewards & punishment system is effective to a large extent.
4. 7.5% of the employees are very much satisfied with rewards & punishment system

9. Graph indicating satisfaction level regarding the social environment of

the work place.
SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 2.03

extent
To a small extent 28.74
To a large extent 52.63
To a very large 16.60
extent

Table 9

Social Environment

16.6%

2.0%
To a very small
extent
52.6% To a small extent
To a large extent
28.7%
To a very large extent

Graph 9

 2.03% of the employees are very much dissatisfied with the social
environment.

54
  28.74% of the employees are satisfied with the social environment to a small
extent.
 52.6% of them are satisfied with the social environment to a large extent.
 16.6% of the employees are satisfied with the social environment to a very
large extent.
10. Graph indicating satisfaction level regarding the physical
environment of the workplace
SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 16
extent
To a small extent 39.6
To a large extent 30.4
To a very large 14
extent

Table 10
Physical Environment

14.0%

16.0%
To a very small
30.4% extent
To a small extent
To a large extent
To a very large extent

39.6%

Graph 10

 16% of the employees are not very happy with the physical environment.
 39.6% of them are satisfied with the physical environment to a small extent.
55
  30.4% of the employees are satisfied with the physical environment to a large
extent.
 14% of the employees are very much happy with the physical environment of
the organization.
11. Graph depicting the overall job satisfaction level of the
employees

SATISFACTION PERCENTAGE(%)
LEVEL

To a very small 0
extent
To a small extent 0
To a large extent 56.25
To a very large 43.75
extent

Table 11
Job Satisfaction

0.0%
0.0% To a very small
43.8% extent
To a small extent
56.3% To a large extent
To a very large extent

Graph 11

 The job satisfaction level HDFC BANK, is extremely good.

56
  56.25% of the employees are happy with their job to a large extent.
 43.75% of the employees are very much happy with their jobs.

3.4 CONCLUSION

An extensive review of the topic "Job Satisfaction level of Employees at HDFC" it

was found that the most important factors conducive to job satisfaction are the
motivational factors: -"
 Rewards or Payment,
 Supportive working environment  The work itself.
 Working hours.
 Clean and hygienic working place.

It was also found that the primary source of job satisfaction among the
employees was the sense of achievement experienced by them while on the
job.However, in the same study feelings of dissatisfaction were found to be
stemming from the work itself. The same and the work that was repetitive in
nature and not apt according to the qualification of some of the employees were
seen also some of the major factors leading to dissatisfaction were:-  Low
payment
 Job tenure (3 months) leading to job insecurity among their mind the various
factors leading to the job satisfaction and by enhancing the profile of
job.Employees tend to prefer jobs that give them opportunities to use their
skills and abilities and offers freedom and feedback. They want pay system
and promotion policies that they perceive as being just and ambiguous and in
line with their expectations. When pay is seen as fair that is based on job and
individual skills, satisfaction is likely to result.Employees are also concerned
with their work environment for both personal as well as professional life.So
finally it is concluded that the level of job satisfaction is there but need to be
increased and maintained.

57
 3.4.1 SUGGESTIONS
After analysing the feedback given by the employees, the following suggestions can
be considered to improve the job satisfaction level:

 Since all major banks are fully computerised, some of the older employees are
not well versed with the usage of computers; thorough training should be given
to such employees as it will help them to carry out their job more efficiently.
 HDFC is facing tough competition with banks like ICICI, HSBC,SBI etc.
Therefore, the staff should be trained so that they can face the competition. They
should be adequately trained about the modern ways of banking.
 The software and hardware equipments should be maintained properly so that
work can be carried out smoothly.

 Technical know – how should be considered before transferring an employee.

This will increase the productivity of the employees.
 Job rotation should be done especially for clerical jobs, as the same kind of work
leads to boredom.
 Strong emphasis should be laid on team work.
 Leaders must stress on team building.
 Employees must be encouraged to participate in decision making. The employee
giving the most valuable suggestion must be rewarded.
 Team work must be compulsorily rewarded to further motivate employees.
 The rigid policies of promotion must be done away with. Instead, deserving
employees must be promoted. This will lead to better job satisfaction.

58
 The democratic way of looking at things is obsolete. It hampers growth. Hence,
managers must have a global view.
 Rewarding system should be made more transparent.
 Each department should select “Employee of the month”. That particular
employee must be rewarded for his/her hard work. This type of social recognition
leads to high self esteem in the employee thus, leading to better job satisfaction.
 Informal get-togethers can be organised in order to facilitate better relationships
among the employees.

59
 3.5 LIMITATIONS

The sample selected from the employees of HDFC Bank. Satisfaction level of
the employees of this organization may differ from those other. In banking sector
the overall satisfaction of employees may differ from bank to bank, from industry
to industry. Hence the level of satisfaction of the employees at HDFC Bank
cannot be generalized to other industry.

Fear of the employees will have an effect on the result obtained .There are
chances of biased response on the part of the respondents. Since the researcher
is viewed as the representative of the management.

The survey purely based on opinion of employees, which may be biased at time.
As the study is very wide and vast all the facts and features regarding the study
could not be analyzed and taken into account.

60
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• Mamoria, C. B., & Gankar, S. V. (2009). A Textbook of Human Resource

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• Davis, K., & Davis, K. (1972). Human behavior at work: human relations and
organizational behavior (No. 658.3 D3H8 1972).

• Tripathi, P. C. (2003). Personnel Management & Industrial

Relations.FINANCE INDIA, 17(1), 332-332.

• Rao, P. S. (2010). Essentials of Human Resource Management and Industrial

Relations: Text, Cases and Games. Himalaya Publishing House.

• Locke, E. A. (1976). The nature and causes of job satisfaction. Handbook of

industrial and organizational psychology, 1, 1297-1343.

WEBSITES - www.wikipedia.com

www.hdfcbank.com

REPORTS/ARTICLES REFFERED:

Annual report of HDFC BANK 2015

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 CH 5 ANNEXURE -QUESIONNAIRE

Cadre: ----------------------- Grade: ----------------------

No. of years of service in the organisation: --------------------------------------

Rate the following on a scale of 1 - 4 (Circle any one)

1 - To a very small extent 2 - To a small extent

3 - To a large extent 4 - To a very large extent

To what extent:

1) Do you receive regular feedback about your job performance?

1-----2-----3-----4

2) Do you feel free to communicate with your superiors?

1-----2-----3-----4

3) Are the important decisions of your department communicated to you?

1-----2-----3-----4

4) Is the amount of work you are expected to do reasonable?

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 1-----2-----3-----4

5) Are the individual differences respected?( educational background, gender, race)

1-----2-----3-----4

6) Are your opinions and suggestions heard and welcomed?

1-----2-----3-----4

7) Are you satisfied with the general amenities like canteen, toilet facilities etc.?

1-----2-----3-----4

8) Are you satisfied with the workspace provided to you?

1-----2-----3-----4

9) Is teamwork and cooperation present among individuals?

1-----2-----3-----4

10) Is teamwork rewarded?

Yes No

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11) Are you satisfied with your remuneration?

1-----2-----3-----4

12) Are you satisfied with your appraisal system?

1-----2-----3-----4

13) When was your last promotion? (no. of years)

14) Do you feel it is high time you got promoted?

Yes No

To what extent:

15) Are you satisfied with the medical facilities?

1-----2-----3-----4

16) Are you satisfied with the education and scholarship facilities provided to your children?

1-----2-----3-----4

17) Do you receive rewards and recognition for work well done?

Always Sometimes Usually Never

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18) Is the reward and punishment system effective?

1-----2-----3-----4

19) Are you clear about the goals of your department?

1-----2-----3-----4

20) Are you clear with the goals expected from you?

1-----2-----3-----4

21) Are you clear about the company’s vision and goals?

1-----2-----3-----4

22) How good is the quality of training being given?

Poor Satisfactory Good Very good Excellent

To what extent:

23) Do your superiors give attention to your training needs?

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 1-----2-----3-----4

24) Has the training you received helped you to do your job better?

1-----2-----3-----4

25) Are you satisfied with the amount of time you have spent on training in the past 1 year? 1-----2-----
3-----4

26) Do your superiors focus on team building and teamwork?

1-----2-----3-----4

27) Do your superiors pay attention to your grievances?

1-----2-----3-----4

28) Do your superiors motivate you?

1-----2-----3-----4

29) Are you satisfied and proud of working for the organisation?

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 1-----2-----3-----4

30) What is the culture of your organisation?

Authoritarian Participative Mechanistic Organic

31) Considering everything how satisfied are you with your job?

Very dissatisfied somewhat dissatisfied

Somewhat satisfied Very satisfied

32) Mention in brief what you feel could be done to improve the overall working conditions

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