International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.

org

Job Satisfaction Among Bank Employees: A Comparative Study of Public Sector And Private Sector Banks
Suman Devi #1 , Ajay Suneja *2
mehra.suman901@gmail.com
2

Research Schola,Haryana School of Business,GJUS&T,Hisar,India A ssociate Professor,Department of Commerce ,Kurukshetra University Kurukshetra , India,
asun30us@yahoo.com Abstract -The present study has been designed with a view to investigate the satisfaction level of employees of Public S ector and Private S ector Banks, to find out the effect of various aspects of job satisfaction and difference in the level of job satisfaction between the employees of Public S ector Banks and Private S ector Banks. S ampling used in this research is simple random sampling. The survey is conducted on employees of Public S ector Bank and Private S ector Bank. The target audience was managers, officers and clerks. The diversity of the study is that it involves Bankers of all age groups and career levels. The study covers four Commercial Banks in all, taking two from Public S ector namely S tate Bank of India and Canara Bank and two from Private S ector, HDFC and Axis Bank. One hundred ten employees of selected Banks located at various place in Kurukshetra have been approached to ascertain their views on job satisfaction.The results indicate that significant differences exists between employees of Public S ector and Private S ector Banks regarding various aspects of job satisfaction, pay and fringe benefits, supervision, training and development. But they are significant in case of the aspects, relation with co-workers, employees empowerment, supervision, performance appraisal and nature of job. Keywords: Job S atisfaction, Public S ector Bank, Private

aspects of job satisfaction. Efficient human resource management and maintaining higher job satisfaction level in Banks determine not only the performance of the Bank but also affect the growth and performance of the entire economy. So, for the success of banking it is very important to manage human resource effectively and to find whether its employees are satisfied or not only if they are satisfied, they will work with commitment and project a positive image of the organisation. If they are highly satisfied they produce more and it is profitable for the organization.Job satisfaction is an integral component of organisation climate and an important element in the management emplo yees relationship. Job satisfaction means individuals emotional reaction to job it. It is a positive emotional state that occurs when a persons job

S ector Bank, Bank Employees, and S atisfaction Level, Job S atisfaction Aspects

seem to fulfill important job values provided. Khaleque, A & Nilima Choudhary a number of studies

suggest that job facets satisfaction scores weighted by INTRODUCTION In this era of competitive world, success of any organization depends on its human resource. Banks are no exception to this. The employees of the Bank are valuable assets to the organisation. If they are highly satisfied they produce more and it is profitable for the organization. So in this competitive environment it is necessary to know the employees views toward their job and to measure the level of satisfaction with various importance are no better indicator of overall job

satisfaction than unweight components [4]. Pritipaul Kaur made a study on job satisfaction among employees of a comparatively young North Indian University. Data were collected personally through interviews, one-tenth of the employees (106) from different teaching and administrative department were selected for the purpose of the present study. Chi-square test of independence was applied to see which of the conditions are associated with job satisfaction. The result revealed that there is no relation between job -

2321-3264/Copyright2013, IJRMST, December 2013

93

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

satisfaction and age, job experience, sex, job security, job assignment and occupational category etc [6]. S.K. Bhatia made a study on asses sment of motivating factors which have been identified by Herzberg in his famous two-factor theory and which are responsible for job-satisfaction. The Result revealed that to improve performance and

of job satisfaction in Pakistani Banking Sector, evaluates the level of difference in job satisfaction among male and female employees. The study found that male and female workers have significantly different level of job satisfaction [3]. Nazir , concluded that duration of work was perceived as the most important factor determining job-satisfaction followed by nature of work and relation with co-workers, promotion opportunities and management policy were the least important determinants of job satisfaction [7].

productivity, it is essential to lay emphasis on intrinsic motivating factor. The majority of the executives is satisfied with the job content factors and derives job motivation [2]. Md. Musharraf Hossain, made a study to investigate the satisfaction of commercial Bank employees and its consequences on related issues. The result revealed that the Public Sector Banks employees were in a better position in terms of their job satisfaction than the Private Sector Bank employees and the executives were more satisfied than the non-executives. Job satisfaction had significant positive correlation with performance but significant negative correlation with job stress and propensity to quit the Job [8]. Oshagbemi,T. examine gender difference in job satisfaction in a sample of 415 college teachers (age 23-55 years) with an equal number of males and females. The study reveals that Female teachers were more satisfied with their jobs than male teachers [1]. Pattanayak the nature of duty as well as the hierarchical position of employees influenced organizational

OBJECTIVE OF THE STUDY: To measure the extent of Job Satisfaction among Employees of Public Sector and Private Sector Banks.

To find out difference in the level of job satisfaction between the employees of Public Sector Banks and Private Sector Banks.

To make suggestions to Bank management for enhancing the satisfaction level of Bank employees. HYPOTHESIS H0 : There is no significant difference between the employees of Public Sector Banks and Private Sector

Banks regarding various aspects of Job satisfaction. RESEARCH METHODOLOGY The present study has been designed with a view to investigate the satisfaction level of Public Sector Bank employees and Private Sector Bank employees, to find out the effect of various aspects (pay and fringe benefits, relation with co-workers

commitment [9]. S.B. Katuwal and Gurpreet Randhawa made a study to measure and compare the job-satisfaction of workers in the Public and Private Sectors textile factories in Nepal. Also, it attempts to measure the overall Job-satisfaction of the textile workers in Nepal. Data were collected from a sample of 372 workers. The result reveals that the textile workers in Nepal have a high dissatisfaction with the facets of the job that involve the monetary expenditure of the organization, the behavioral aspects of management and the employment policy of the organization [5].Ahmed Imran and, Sher Aslam investigate the major determinants

supervision, employees empowerment, nature of job, employees participation, performance appraisal and

training and development, etc.) on job satisfaction. The study covers four Commercial Banks in all, taking two from Public Sector namely State Bank of India and Canara

2321-3264/Copyright2013, IJRMST, December 2013

94

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

Bank and two from Private Sector, HDFC and Axis Bank. One hundred ten employees of selected Banks located at various place in Kurukshetra have been approached to ascertain their views on job satisfaction. Primary data has been collected from one hundred ten respondents of different age group, education level, income and

The questionnaire covered following aspects:

pay an d

fringe benefits, nature of job, employees empowerment, supervision, training and development, performance appraisal, employees participation, and relation with co workers

designation. The coverage is adequate keeping in view the nature of the study and limited resources at the disposal of the respondents. Sampling used in this research is simple random sampling. The survey conducted on employees of Public Sector Bank and Private Sector Bank. The target audience was managers, officers and clerks. The diversity of the study is that it involves Bankers of all age groups and career levels. A semi-structured questionnaire has been used with a number of variables related to job satisfaction. The following five point likert scaling technique has been used for obtaining response on each question: Strongly Disagree = SD, Disagree= D, Neither agree nor disagree = NAND, Agree = A, Strongly Agree = SA

ANALYSIS AND INTERPRETATION This chapter presents analysis and interpretation of data. Various statistical tools namely percentage, mean score, standard deviation and t-test have been applied for the analysis of various aspects of job satisfaction, which are directly extracted from the questionnaire. The extent of agreement of job satisfaction of employees of Public Sector Banks (PSBs) and Private Sector Banks (PVSBs) has been measured with the various aspects such as, pay and fringe benefits, supervision, employee participation, nature of work, training and development, performance appraisal, relation with co-workers and employee empowerment. The sample profile of Bank employees surveyed is presented in table no.1

TABLE NO.-1 Profile of the Respondents: S. no 1. Demographic profile Age 20-30 years 31-40 years 41 and above Gender Male Female Marital status Married Unmarried Qualification Up to Graduation Post-graduation Professional PSBs 22(39.29) 9(16.07) 25(44.65) PVSBs 30(55.55) 19(35.18) 5(9.25) Total 52(47.27) 28(25.45) 30(27.27)

2.

47(83.93) 9(16.07)

40(74.07) 14(25.93)

87(79.09) 23(20.91)

3.

38(67.86) 18(32.14)

35(64.81) 19(35.19)

73(66.36) 37(33.64)

4.

24(42.85) 15(26.79) 17(30.36)

15(27.77) 19(35.18) 20(37.04)

39(35.46) 34(30.91) 37(33.64)

2321-3264/Copyright2013, IJRMST, December 2013

95

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

I.

According to five points scale findings of the survey are given in table no.II to XII

TABLE II Job Satisfaction with Pay and Fringe Benefits Public Sector Bank Statement I am provided with adequate perquisites by the Bank. My salary is in the line with my experience and training for this position. I am satisfied with pay increments and revision. *indicates significant at 0.05 level 3.13 1.096 3.81 1.065 3.46 1.13 3.345 0.001* 3.48 1.079 3.37 1.263 3.43 1.17 0.500 0.618 Mean 3.70 S.D. 0.882 Mean 3.70 S.D. 0.872 Mean 3.70 S.D. 0.85 0.750 Private Sector Bank Overall t-value Sig. two tailed 0.455

t-test has been applied to examine the difference in the extent of agreement between PSBs and PVSBs employees with various statements concerning pay and fringe benefits. The result of the test reveals that the difference in mean

score is significant at 0.05 levels in case of the statement 'I am satisfied with pay increments and revision. t -value turns out insignificant in case of remaining two statements.

TABLE III Job Satisfaction with Relation with Co-workers

PS Bank Statement I enjoy working with my coworkers. My co-workers respect each 4.50 5.485 Mean 3.88 S.D. 0.764

P.V.S. Bank Mean 3.63 S.D. 1.069

Overall Mean 3.75 S.D. 0.93

t-value

Sig. two tailed 0.168

1.389

3.82

1.077

4.01

3.99

1.103

0.272

others opinion and values.

2321-3264/Copyright2013, IJRMST, December 2013

96

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

The result revealed that, employees agree with all the statements. t-test has been applied to examine the differences in the extent of agreement with various statements concerning 'Relation with co-workers'. There is no significant difference in all the statements. Thus it has

been found that the level of agreement concerning 'Relation with co-workers' is same in case of employees of PSBs and PVSBs.

TABLE IV Job Satisfaction with Employees Empowerment PS Bank Statement I am satisfied with the paper work I handle. I am happy with the amount of freedom. I have to decide how I approach my work. I am satisfied with the amount of resources I have to perform my job. I am comfortable with the amount of discretion I have over my work. My employer provides a comfortable work environment that supports productive work. I like the level of responsibility I am given in my work. I am satisfied with the amount of time I have to perform various job activities. *indicates significant at 0.05 level Mean 3.54 3.45 S.D. 1.008 1.143 Mean 3.80 4.04 S.D. 1.139 0.971 Mean 3.66 3.74 S.D. 1.08 1.10 1.272 2.916 P.V.S. Bank Overall t-value Sig. two tailed 0.206 0.004*

3.57

1.006

3.57

1.283

3.57

1.15

0.012

0.990

3.73 3.63

0.924 1.088

3.80 3.76

0.998 1.098

3.76 3.69

0.96 1.09

0.350 0.644

0.727 0.521

3.70 3.27

0.913 1.070

3.89 3.80

1.040 0.919

3.79 3.53

0.98 1.03

1.032 2.774

0.304 0.007*

The result of the test reveals that the difference in mean concerning 'employees empowerment' is more in case of score is significant at 0.05 levels in case of two statements" PVSBs than that of the employees of PSBs. But in case of 'I am satisfied with the amount of time I have to perform remaining five statements there is no significant difference various job activities and the statement I am happy with the found. Thus, the level of agreement for these statements amount of freedom I have to decide how approach my concerning 'employees empowerment' is same for the work.' Thus the level of agreement for these two statements employees of both PSBs and PVSBs . TABLE NO. V Job Satisfaction with Supervision PS Bank Statement I am satisfied with how promptly new information is communicated to me. My supervisor is a fair and 3.73 1.018 3.56 1.076 3.65 1.05 0.885 0.378 Mean 3.57 S.D. 1.042 Mean 3.87 S.D. 1.001 Mean 3.72 S.D. 1.03 1.514 P.V.S. Bank Overall t-value Sig. two tailed 0.133

reasonable person.

2321-3264/Copyright2013, IJRMST, December 2013

97

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

I am comfortable with how much direction I receive from my boss. I am comfortable with how closely my basic tracks my work. *indicates significant at 0.05 level

3.79

1.039

3.31

1.241

3.55

1.16

2.160

.033*

3.77

0.991

3.56

0.965

3.66

0.98

1.138

0.258

t-test has been applied between employees of PSBs and PVSBs to examine the difference in the extent of agreement with respect to various statements concerning supervision. The result of the test reveals that the

difference in mean score is significant at 0.05 levels in case of the statement 'I am comfortable with how much direction I receive from my boss'. t value turns out in significant in case of remaining three statements.

TABLE VI Job Satisfaction with Performance Appraisal

PS Bank Statement My employer I values make to the my Mean 3.66 S.D. 1.100

P.V.S. Bank Mean 3.72 S.D. 0.960

Overall Mean 3.69 S.D. 1.03

t-value

Sig. two tailed 0.756

0.312

contribution department.

My organization has a fair system of rewarding employee

3.52

1.911

3.57

1.075

3.544

1.13

0.260

0.760

performance. 'performance appraisal'. The result of the test reveals that t-test has been applied to find the difference in the extent of agreement with various statements concerning there is no significant difference between employees of PSBs and PVSBs. TABLE VII Job Satisfaction with Nature of Job PS Bank Statement I am satisfied with how often I create new ideas, procedures or things. I am satisfied with how often I perform detailed tasks. I feel good about how my work can benefit other people. I am able to improve my work skills because of the feedback I get about the job. I can fully display my abilities in Mean 3.54 S.D. 0.990 Mean 3.81 S.D. 1.065 Mean 3.67 S.D. 1.03 1.424 P.V.S. Bank Overall t-value Sig. two tailed 0.157

3.96

0.738

3.98

0.765

3.97

0.75

0.120

0.905

3.86 3.71

0.841 0.889

3.80 3.80

1.250 0.898

3.83 3.75

1.06 0.89

0.301 0.481

0.764 0.631

3.86

0.923

3.70

0.882

3.78

0.90

0.891

0.375

2321-3264/Copyright2013, IJRMST, December 2013

98

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

this job. My job requires a good mix of my skills. I get a sense of satisfaction from the work I do.

3.64 3.63

1.135 1.273

3.65 3.78

1.031 1.160

3.65 3.70

1.08 1.22

0.026 0.657

0.980 0.512

Findings of the survey are shows in the table 4.10. t-test has been applied between PSBs and PVSBs to find out the extent of agreement various statements concerning nature

of job. The result of the test reveals that there is no significant difference in mean score of employees of PSBs and PVSBs.

TABLE VIII Job Satisfaction with Employee Participation PS Bank Statement I am satisfied with how often I take part in problem solving. In my job, I am satisfied with how often I share knowledge with others. In my job, I am satisfied with how often I persuade others. I can identify how I contributed to various projects / assignments. t-test has been applied to examine the extent of agreement with various statements concerning 'employees participation'. The result of the test reveals that there is no significant difference in case of all the statements 3.80 0.796 3.67 0.991 3.74 0.90 0.801 0.425 3.80 0.749 3.83 0.966 3.82 0.86 0.181 0.857 3.77 0.809 3.96 1.045 3.86 0.93 1.097 0.275 Mean 4.02 S.D. 0.726 Mean 3.83 S.D. 1.112 Mean 3.93 S.D. 0.94 1.034 P.V.S. Bank Overall t-value Sig. two tailed 0.303

TABLE IX Job Satisfaction with Training and Career Development PS Bank Statement I am satisfied with on job training programme provided by the Bank. There are several ways to advance or make lateral moves in my organization. I get opportunities to develop new skills that are of interest to me. My job is important to the 3.57 1.026 3.96 1.075 3.77 1.06 1.948 0.054* 3.30 1.077 4.15 5.803 3.72 4.14 1.070 0.287 3.39 0.947 3.81 1.260 3.60 1.13 1.990 0.049* Mean 3.38 S.D. 1.169 Mean 3.98 S.D. 0.901 Mean 3.67 S.D. 1.08 3.041 P.V.S. Bank Overall t-value Sig. two tailed 0.003*

organization. *indicates significant at 0.05 level.

2321-3264/Copyright2013, IJRMST, December 2013

99

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

test reveals that the difference in mean score is significant Findings of the survey are given in table 4.12. t-test has been applied to examine the difference between PSBs and PVSBs in the extent of agreement with various statements concerning training and development. The result of the at 0.05 levels in case of three statements. t -value turns insignificant in the case of statement 'I get opportunities to develop new skills that are of interest to me.

FINDINGS AND SUGGESTIONS

The main findings of the study conducted on the topic on "Job Satisfaction among Bank Employees: A Comparative Study of Public Sector and Private Sector Banks" are given as follows: The study found that significant difference exists between employees of Public Sectors Banks (PSBs) and Private Sector Banks (PVSBs) regarding pay increments. The employees of PVSBs are more satisfied with pay increments and revision than that of PSBs employees. No significant difference has been found regarding various aspects of relation with co -workers which indicates that employees of both PSBs and PVSBs feel same level of satisfaction in their organization. The study found that no significant difference exists between employees of Public Sectors Banks (PSBs) and Private Sector Banks (PVSBs) regarding various aspect of employee empowerment except two. Employees of PVSBs are more satisfied than the employees of PSBs regarding the statement I am happy with the amount of fr eedom I have to decide how I approach my work and 'the amount of time I have to perform various job activities. Thus, in both statements the level of satisfaction has been found more in case of employees of PVSBs than those of PSBs. The study found that employees of both PVSBs and PSBs are satisfied with their supervision. The significant difference has been found in the mean scores regarding the statement I am comfortable with how much direction I receive from my boss. It indicates that employees o f PSBs are more satisfied than the employees of PVSBs in this regard. It is clear from the mean score regarding the various aspects of performance appraisal and nature of job that there is no significant difference between the employees of PSBs and PVSBs. It indicates that both, the employees of PSBs and PVSBs agree that they feel satisfied in their organization regarding these two dimensions of their jobs. The study found that significant difference exists between the employees of PSBs and PVSBs regarding various aspects of training and development which indicates that the level of satisfaction of employees of PVSBs is more than that of the employees of PSBs. No significant difference has been found in the mean score regarding various aspects of employees

participation which indicates that both PSBs and PVSBs employees feel same level of satisfaction in their organization. They agree with each of the statements concerning satisfaction with employee participation.

2321-3264/Copyright2013, IJRMST, December 2013

100

International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol. 1; No. 2, December 2013 Available at www.ijrmst.org

SUGGESTIONS In the light of the findings of present study, the researcher recommends the following: Public Sector Banks can increase the satisfaction of their employees by increasing the pay increments, and employee empowerment. Since the employees of PSBs have lower level of satisfaction with training and development facilities, these Banks should take steps to improve training and opportunities for career advancement. To increase the level of satisfaction employees of PSBs it is necessary to improve policy for career development. Job satisfaction and dissatisfaction of Bank employees should be evaluated periodically for evolving dynamic and pragmatic policies for organization's growth and development. Private Sector Banks should pay attention to the extent of direction employees receive from their boss since they are exhibiting lower level of satisfaction in this regard.

REFERENCES
1. 2. 3. 4. 5. 6. 7. 8. Oshagbemi, T . Gender Differences in the Job Satisfaction of University T eachers," Journal of Women in Management Review, Vol.15 (7), pp 331-343..2000. Bhatia S.K., "Job Motivation of Executives: An Empirical Study". Indian journal of industrial relations, Vol. 20(3), pp. 319-332, 1985. Hunjra, Ahmed Imran and Sher Aslam " Factor effecting job satisfaction of employees in pakistani banking sector, African Journal of Business management, vol. 4(10), pp. 2157-2163, 2010. Kaleques, A. and Nilima choudhury (1984), "Job Facets and Overall Job Satisfaction of Industrial Managers." Indian Journal of Industrial Relation , Vol. 20, No. 1, pp. 55-64, 1984. Katuwal B. and Gurpreet Randhawa,A Study of Job Satisfaction of Public and Private Sector Nepalese T extile Workers", Indian journal of industrial relation, Vol. 43 (2), pp. 239-253, 2007. Kaur, Pritpaul, Job Satisfaction among University Employees", Indian Journal of Industrial Relation , Vol. 20, No. 1, pp. 73-77, 1984. Nazir, A. N. Perceived Importance of Job Factors and Overall Job Satisfaction of Bank Employees, Indian Journal of Indus trial Relations, 33(4), pp. 479-496,1998. Md.. Mosharraf Hossain, "Job Satisfaction of Commercial Bank Employees in Bangladesh: A Comparative Study of Private and Public Sector Banks". Indian Journal of Industrial Relations, Vol. 35(3) pp. 347-361, 2000.

9.

Pattanayak," Effects of Shiftwork and Hierarchical Position on Satisfaction, Commitment, Stress and HRD Climate :A Study on an Integrated Steel Plant." Management and Labour Studies, Vol. 25 (2) pp. 126-135, 2000.

2321-3264/Copyright2013, IJRMST, December 2013

101