A STUDY ON THE EMPLOYEE SATISFACTION

OF
PUNJAB NATIONAL BANK
A Project
Submitted in Partial Fulfillment of the
Requirements
for the Award of the Degree of
BACHELOR OF BUSINESS ADMINISTRATION
By

AISHA KUMAR
(BBA/40004/13)

DEPARTMENT OF MANAGEMENT
BIRLA INSTITUTE OF TECHNOLOGY, MESRA
EXTENSION CENTRE LALPUR, RANCHI
2015.

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DECLARATION CERTIFICATE
This is to certify that the work presented in the project entitled A STUDY ON
EMPLOYEE SATISFACTION A CASE OF PUNJAB NATIONAL BANK in partial
fulfillment of the requirement for the award of degree of Bachelor of Business
Administration of Birla Institute of Technology, Mesra, Lalpur Extension Centre,
Ranchi is an authentic work carried out under my supervision and guidance.
To the best of my knowledge, the content of this project does not form a basis for the
award of any previous degree to anyone else.

DATE:

DR. MILI DUTTA

DEPARTMENT OF MANAGEMENT,
BIRLA INSTITUTE OF TECHNOLOGY

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CERTIFICATE OF APPROVAL
The foregoing project A STUDY ON THE EMPLOYEE SATISFACTION A CASE
OF PUNJAB NATIONAL BANK is hereby approved as a creditable study of
research topic and has been presented in a satisfactory manner to warrant its
acceptance and prerequisite to the degree for which it has been submitted.
It is understood that by this approval, the undersigned do not necessarily endorse
any conclusion drawn or opinion expressed therein, but the project for the purpose
for which it is submitted.

(Internal Examiner)

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(External Examiner)

ACKNOWLEDGEMENT
This project bears an imprint of many people. First of all, I would like to thank my
project guide Dr. Mili Dutta for her time and guidance she has extended to me. I
would also like to thank Mr.Pradhan and Mr.A.Das of Punjab National Bank for
allowing me to undertake this project work.
I hereby express my deep gratitude to Dr.A.N.Jha, in charge of BIT, Mesra, Lalpur
Extension Centre, for motivating us to undertake this project work. I would also like
to thank my family and friends for their support and helped me in the completion of
this project.

AISHA KUMAR
BBA/40004/13

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Contents

CHAPTER I.......................................................................................................................... 7
1.
1.1

INTRODUCTION............................................................................................................ 8
INTRODUCTION TO PUNJAB NATIONAL BANK.................................................10

CHAPTER II...................................................................................................................... 13
2.1

PROBLEM DEFINITION........................................................................................14

CHAPTER III..................................................................................................................... 15
3.1

OBJECTIVES OF THE STUDY.............................................................................16

3.2

SCOPE.................................................................................................................. 17

CHAPTER IV.................................................................................................................... 18
4.1

LITERATURE REVIEW..........................................................................................19

4.2

MODELS............................................................................................................... 19

4.3

INFLUENCING FACTORS: ENVIRONMENTAL FACTORS...................................23

4.4

INDIVIDUAL FACTORS.........................................................................................25

4.5

MEASURING......................................................................................................... 28

4.6

RELATIONSHIPS AND PRACTICAL IMPLICATIONS...........................................29

CHAPTER V..................................................................................................................... 31
5.1

RESEARCH METHODOLOGY..............................................................................32

5.1.1 RESEARCH DESIGN...............................................................................................32

5.1.2 DATA COLLECTION TOOLS....................................................................................32
5.1.3 DATA ANALYSIS TOOLS:.........................................................................................33
CHAPTER VI.................................................................................................................... 34
6.1

ANALYSIS AND FINDINGS...................................................................................35

6.2

LIMITATIONS OF THE STUDY:.............................................................................53

CHAPTER VII...................................................................................................................... 54
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7.1

SUGGESTIONS....................................................................................................55

CHAPTER VIII..................................................................................................................... 56
8.1

CONCLUSION.......................................................................................................57

BIBLIOGRAPGHY............................................................................................................... 58
ANNEXURE......................................................................................................................... 59
QUESTIONNAIRE............................................................................................................... 60

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CHAPTER I

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1.INTRODUCTION
Human resource is considered to be the most valuable asset in any organization. It
is the sum-total of inherent abilities, acquired knowledge and skills represented by
the talents and aptitudes of the employed persons who comprise executives,
supervisors and the rank and file employees. It may be noted here that human
resource should be utilized to the maximum possible extent, in order to achieve
individual and organizational goals. It is the employees performance, which
ultimately decides the attainment of goals. However, the employee performance is to
a large extent, influenced by motivation and job satisfaction.
Employee satisfaction is the terminology used to describe whether employees
are happy and contented and fulfilling their desires and needs at work. The term
employee satisfaction relates to the relationship between an individual and the
employer for which he is paid. Satisfaction does mean the simple feeling or state
accompanying the attainment of any goal; the end state is feeling accompanying the
attainment by an impulse of its objective. Employee satisfaction or job satisfaction is,
quite simply, how content or satisfied employees are with their jobs. Employee
satisfaction is typically measured using an employee satisfaction survey. These
surveys

address topics such as compensation, workload, perceptions of

management, flexibility, teamwork, resources, etc.

The survey made regarding the job satisfaction in Punjab National Bank will
facilitate and enable the management to know the perceptions and inner feelings of
the employees regarding the job they are performing on a day-to-day basis. The
term job satisfaction reveals and focuses on the likes and dislikes of the employees
of Punjab National Bank. In this particular study the researcher tries to identify the
causes for satisfaction and dissatisfaction among the employees. So this is the most
effective and selective instrument for diagnosing the employees problems.

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Job satisfaction survey can give the most valuable information of the
perception of the employees because the employees attitude towards the job may
be either positive or negative. The positive feelings can be re-in forced and negative
feelings can be rectified. This survey can be treated as the most effective and
efficient way, which makes the workers to express their inner and real feelings.
For any future course of action/development, which involves employees
participation, the management will get a picture of its employees acceptance and
readiness. This survey also enables to avoid misinterpretations and helps the
management in solving problems effectively.
Contentment and satisfaction motivates an employee to be confident with a high
morale so it is an asset to the organization as a whole.
Thus the high motivation and morale of an employee helps him to stay in the
organization and encourage himself to face competition and gives him enough
dynamism to face challenges.
Every human being possesses unique skills, which if properly channeled,
ultimately leads to the achievement of organizational goals.

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1.1

INTRODUCTION TO PUNJAB NATIONAL BANK

Punjab National Bank is an Indian financial services company based in New Delhi,
India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs
across 764 cities. It serves over 80 million customers.
Punjab National Bank is one of the Big Four banks of India, along with State Bank of
India, ICICI Bank and Bank of Baroda. It is the third largest bank in India in terms of
asset size (billion by the end of FY 2012-13). The bank has been ranked 248 th
biggest bank in the world by the Bankers Almanac.
PNB has a banking subsidiary in the UK (PNB International Bank, with seven
branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai and Kabul.
It has representative offices in Almaty (Kazakhstan), Dubai, Shanghai (China), Oslo
(Norway) and Sydney (Australia). In Bhutan it owns 51% of Druk PNB Bank, which
has five branches. PNB owns 20% of Everest Bank Limited, which has 50 branches
in Nepal. Lastly, PNB owns 84% of JSC (SB) PNB Bank in Kazakhstan, which has
four branches.
1.1.1. History
Punjab National Bank was registered on 19 May 1894 under the Indian Companies
Act, with its office in Anarkali Bazar, Lahore. The founding board was drawn from
different parts of India professing different faiths and a varied back-ground with,
however, the common objective of providing country with a truly national bank which
would further the economic interest of the Dyal Singh Majithia country. PNBs
founders included several leaders of the Swadeshi movement such as and Lala
Harkishan Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri
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Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was
actively associated with the management of the Bank in its early years. The board
first met on 23 May 1894. [1] The bank opened for business on 12 April 1895 in
Lahore.
PNB has the distinction of being the first Indian bank to have been started solely with
Indian capital that has survived to the present. (The first entirely Indian bank, Oudh
Commercial Bank, was established in 1881 in Faizabad, but failed in 1958.)
PNB has had the privilege of maintaining accounts of national leaders such as
Mahatma Gandhi, Jawahar Lal Nehru, Lal Bahadur Shastri, Indira Gandhi, as well as
the account of the famous Jalianwala Bagh Committee.
1.1.2. Employees
As on 31 March 2015, the bank had 68,290 employees. As of 31 March 2013, it also
had 919 employees with disabilities on the same date (1.45%) The average age of
bank employees on the same date was 46 years. The bank reported business of
INR 11.65 crores per employee and net profit of INR 8.06 lakhs per employee during
the FY 2012-13. The company incurred INR 5,751 crores towards employee benefit
expenses during the same financial year.
1.1.3. Vision
To be a Leading Global Bank with Pan India footprints and become a household
brand in the Indo-Gangetic Plains providing entire range of financial products and
services under one roof
1.1.4.

Mission
Banking for the unbanked

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1.1.5. Organizational Structure

Bank has its Corporate Office at New Delhi that supervises 13 FGM offices and 69
Circle Offices under which the branches function. The delegation of powers is
decentralized up to the branch level to facilitate quick decision making.
1.1.6. Organizational Setup

Head Office

FGM Offices & GM Overseas

Circle Offices

Branches

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CHAPTER II

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2.1

PROBLEM DEFINITION

The study was undertaken to understand the level of satisfaction of the employees
of PNB, Circle Office, Ranchi. This research work was important for both the
organization and the employees.
The findings can help the organization to know the problems that the employees are
facing and help it to remove the causes of dissatisfaction among the employees.
This can be very beneficial to the organization as removing the causes of
dissatisfaction and promoting an environment where the employees feel utilized, can
make them more productive which will in turn help the organization realize its goals
timely and efficiently.
On the other hand, the results are important with regard to the employees because it
will help them to analyze the conditions in which they work, the opportunities they
get and the shortcomings they face. They can become more productive if the
conditions favorable to them are fostered. This will help them to achieve both their
personal and the organizational goals.
Thus, this study on EMPLOYEE SATISFACTION was conducted.

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CHAPTER III

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3.1

OBJECTIVES OF THE STUDY

The main aim of the study is to analyze and examine level of job satisfaction among
the PNB employees and to know the problems faced by the employees of the
various categories. The specific objectives are as follows:

To present a profile of PNB and organizational structure etc.,

To understand the level of satisfaction among of employees relating to the nature

of the job, salary and other benefits.

To evaluate the impact

of job satisfaction on the job performance of the

employees.

To observe the working environment in PNB.

To suggest suitable measures to improve the overall satisfaction of the

employees in the organization.

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3.2 SCOPE
In the survey an attempt has been made to analyze the job satisfaction of
employees at the PNB Circle Office, Ranchi, Jharkhand.
The Head Office of PNB is situated at New Delhi with one of its Circle Offices
in the Capital of Jharkhand, Ranchi. The study tries to understand the level of
satisfaction among the employees of PNB. It further explains the area on which
employees are mostly dissatisfied.
Job satisfaction of the employees has been analyzed on the basis of the
following seventeen job related factors.

Salary and monetary benefits

Job security

Promotion policy

Working environment

Employees participation in management

Freedom of expressions

Nature of job

Interest taken by superiors

Superiors and sub-ordinate relationship

Loans

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CHAPTER IV

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4.1

LITERATURE REVIEW

What is Job Satisfaction?

Job satisfaction or employee satisfaction has been defined in many different
ways. Some believe it is simply how content an individual is with his or her job, in
other words, whether or not they like the job or individual aspects or facets of jobs,
such as nature of work or supervision. Others believe it is not so simplistic as this
definition suggests and instead that multidimensional psychological responses to
ones job are involved. Researchers have also noted that job satisfaction measures
vary in the extent to which they measure feelings about the job (affective job
satisfaction) or cognitions about the job (cognitive job satisfaction).

2.
3.
4.
5.
5.1.
4.2

MODELS

4.2.1 Affect theory

Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job
satisfaction model. The main premise of this theory is that satisfaction is determined
by a discrepancy between what one wants in a job and what one has in a job.
Further, the theory states that how much one values a given facet of work (e.g. the
degree of autonomy in a position) moderates how satisfied/dissatisfied one becomes
when expectations are/arent met. When a person values a particular facet of a job,
his satisfaction is more greatly impacted both positively (when expectations are met)
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and negatively (when expectations are not met), compared to one who doesnt value
that facet. To illustrate, if Employee A values autonomy in the workplace and
Employee B is indifferent about autonomy, then Employee A would be more satisfied
in a position that offers a high degree of autonomy and less satisfied in a position
with little or no autonomy compared to Employee B. This theory also states that too
much of a particular facet will produce stronger feelings of dissatisfaction the more a
worker values that facet.
4.2.2 Dispositional approach
The dispositional approach suggests that individuals vary in their tendency to be
satisfied with their jobs, in other words, job satisfaction is to some extent an
individual trait. This approach became a notable explanation of job satisfaction in
light of evidence that job satisfaction tends to be stable over time and across careers
and jobs. Research also indicates that identical twins raised apart have similar levels
of job satisfaction.
A significant model that narrowed the scope of the dispositional approach was the
Core Self-evaluations Model, proposed by Timothy A. Judge, Edwin A. Locke, and
Cathy C. Durham in 1997. Judge et al. argued that there are four Core Selfevaluations that determine ones disposition towards job satisfaction: self-esteem,
general self-efficacy, locus of control, and neuroticism. This model states that higher
levels of self-esteem (the value one places on his/her self) and general self-efficacy
(the belief in ones own competence) lead to higher work satisfaction. Having an
internal locus of control (believing one has control over her\his own life, as opposed
to outside forces having control) leads to higher job satisfaction. Finally, lower levels
of neuroticism lead to higher job satisfaction.
4.2.3 Equity theory
Equity Theory shows how a person views fairness in regard to social relationships
such as with an employer. A person identifies the amount of input (things gained)
from a relationship compared to the output (things given) to produce an input/output
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ratio. They then compare this ratio to the ratio of other people in deciding whether or
not they have an equitable relationship. Equity Theory suggests that if an individual
thinks there is an inequality between two social groups or individuals, the person is
likely to be distressed because the ratio between the input and the output are not
equal.
For example, consider two employees who work the same job and receive the same
pay and benefits. If one individual gets a pay raise for doing the same work as the
other, then the less benefited individual will become distressed in his workplace. If,
on the other hand, both individuals get pay raises and new responsibilities, then the
feeling of equity will be maintained.
Other psychologists have extended the equity theory, suggesting three behavioral
response patterns to situations of perceived equity or inequity (Huseman, Hatfield, &
Mile, 1987; ONeil & Mone 1998). These three types are benevolent, equity
sensitive, and entitled. The level by each type affects motivation, job satisfaction,
and job performance.

Benevolent-Satisfied when they are under-rewarded compared with coworkers

Equity sensitive-Believe everyone should be fairly rewarded

Entitled-People believe that everything they receive is their just due

4.2.4 Discrepancy theory

The concept of discrepancy theory is to explain the ultimate source of anxiety and
dejection. An individual who has not fulfilled his responsibility feels the sense of
anxiety and regret for not performing well. They will also feel dejection due to not
being able to achieve their hopes and aspirations. According to this theory, all
individuals will learn what their obligations and responsibilities are for a particular
function, and if they fail to fulfill those obligations then they are punished. Over time,
these duties and obligations consolidate to form an abstracted set of principles,
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designated as a self-guide. Agitation and anxiety are the main responses when an
individual fails to achieve the obligation or responsibility. This theory also explains
that if achievement of the obligations is obtained then the reward can be praise,
approval, or love. These achievements and aspirations also form an abstracted set
of principles, referred to as the ideal self guide. When the individual fails to obtain
these rewards, they begin to have feelings of dejection, disappointment, or even
depression.
4.2.5 Two-factor theory (motivator-hygiene theory)
Frederick Herzbergs two-factor theory (also known as motivator-hygiene theory)
attempts to explain satisfaction and motivation in the workplace. This theory states
that satisfaction and dissatisfaction are driven by different factors motivation and
hygiene factors, respectively. An employees motivation to work is continually related
to job satisfaction of a subordinate. Motivation can be seen as an inner force that
drives individuals to attain personal and organizational goals (Hoskinson, Porter, &
Wrench, p. 133). Motivating factors are those aspects of the job that make people
want to perform, and provide people with satisfaction, for example achievement in
work, recognition, promotion opportunities. These motivating factors are considered
to be intrinsic to the job, or the work carried out. Hygiene factors include aspects of
the working environment such as pay, company policies, supervisory practices, and
other working conditions.
While Herzbergs model has stimulated much research, researchers have been
unable to reliably empirically prove the model, with Hackman & Oldham suggesting
that Herzbergs original formulation of the model may have been a methodological
artifact. Furthermore, the theory does not consider individual differences, conversely
predicting all employees will react in an identical manner to changes in
motivating/hygiene factors. Finally, the model has been _achiavell in that it does not
specify how motivating/hygiene factors are to be measured.
4.2.6 Job characteristics model

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Hackman & Oldham proposed the job characteristics model, which is widely used as
a framework to study how particular job characteristics impact job outcomes,
including job satisfaction. The five core job characteristics can be combined to form
a motivating potential score (MPS) for a job, which can be used as an index of how
likely a job is to affect an employees attitudes and behaviors. Not everyone is
equally affected by the MPS of a job. People who are high in growth need strength
(the desire for autonomy, challenge and development of new skills on the job) are
particularly affected by job characteristics. A meta-analysis of studies that assess the
framework of the model provides some support for the validity of the JCM.

4.3

INFLUENCING FACTORS: ENVIRONMENTAL FACTORS

4.3.1 Communication overload and under load

One of the most important aspects of an individuals work in a modern organization
concerns the management of communication demands that he or she encounters on
the job. Demands can be characterized as a communication load, which refers to
the rate and complexity of communication inputs an individual must process in a
particular time frame. Individuals in an organization can experience communication
over-load and communication under- load which can affect their level of job
satisfaction. Communication overload can occur when an individual receives too
many messages in a short period of time which can result in unprocessed
information or when an individual faces more complex messages that are more
difficult to process. Due to this process, given an individuals style of work and
motivation to complete a task, when more inputs exist than outputs, the individual
perceives a condition of overload which can be positively or negatively related to job
satisfaction. In comparison, communication under load can occur when messages or
inputs are sent below the individuals ability to process them. According to the ideas
of communication over-load and under-load, if an individual does not receive enough
input on the job or is unsuccessful in processing these inputs, the individual is more

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likely to become dissatisfied, aggravated, and unhappy with their work which leads
to a low level of job satisfaction.
4.3.2 Superior-subordinate communication
Superior-subordinate communication is an important influence on job satisfaction in
the workplace. The way in which subordinates perceive a supervisors behavior can
positively or negatively influence job satisfaction. Communication behavior such as
facial expression, eye contact, vocal expression, and body movement is crucial to
the superior-subordinate relationship (Teven, p. 156). Nonverbal messages play a
central role in interpersonal interactions with respect to impression formation,
deception, attraction, social influence, and emotional.Nonverbal immediacy from the
supervisor helps to increase interpersonal involvement with their subordinates
impacting job satisfaction. The manner in which supervisors communicate with their
subordinates non-verbally may be more important than the verbal content (Teven,
p. 156). Individuals who dislike and think negatively about their supervisor are less
willing to communicate or have motivation to work whereas individuals who like and
think positively of their supervisor are more likely to communicate and are satisfied
with their job and work environment. A supervisor who uses nonverbal immediacy,
friendliness, and open communication lines is more likely to receive positive
feedback and high job satisfaction from a subordinate. Conversely, a supervisor who
is antisocial, unfriendly, and unwilling to communicate will naturally receive negative
feedback and create low job satisfaction in their subordinates in the workplace.
4.3.3 Strategic employee recognition
A Watson Wyatt Worldwide study identified a positive outcome between a collegical
and flexible work environment and an increase in shareholder value. Suggesting that
employee satisfaction is directly related to financial gain. Over 40 percent of the
companies listed in the top 100 of Fortune magazines, Americas Best Companies
to Work For also appear on the Fortune 500. It is possible that successful workers
enjoy working at successful companies, however, the Watson Wyatt Worldwide
Human Capital Index study claims that effective human resources practices, such as
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employee recognition programs, lead to positive financial outcomes more often than
positive financial outcomes lead to good practices.
Employee recognition is not only about gifts and points. Its about changing the
corporate culture in order to meet goals and initiatives and most importantly to
connect employees to the companys core values and beliefs. Strategic employee
recognition is seen as the most important program not only to improve employee
retention and motivation but also to positively influence the financial situation. The
difference between the traditional approach (gifts and points) and strategic
recognition is the ability to serve as a serious business influencer that can advance a
companys strategic objectives in a measurable way. The vast majority of
companies want to be innovative, coming up with new products, business models
and better ways of doing things. However, innovation is not so easy to achieve. A
CEO cannot just order it, and so it will be. You have to carefully manage an
organization so that, over time, innovations will emerge.

4.4

INDIVIDUAL FACTORS

4.4.1 Emotion
Mood and emotions at work are related to job satisfaction. Moods tend to be longer
lasting but often weaker states of uncertain origin, while emotions are often more
intense, short-lived and have a clear object or cause.
Some research suggests moods are related to overall job satisfaction. Positive and
negative emotions were also found to be significantly related to overall job
satisfaction.
Frequency of experiencing net positive emotion will be a better predictor of overall
job satisfaction than will intensity of positive emotion when it is experienced.

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Emotion work (or emotion management) refers to various types of efforts to manage
emotional states and displays. Emotion management includes all of the conscious
and unconscious efforts to increase, maintain, or decrease one or more components
of an emotion. Although early studies of the consequences of emotional work
emphasized its harmful effects on workers, studies of workers in a variety of
occupations suggest that the consequences of emotional work are not uniformly
negative.
It was found that suppression of unpleasant emotions decreases job satisfaction and
the amplification of pleasant emotions increases job satisfaction.
The understanding of how emotion regulation relates to job satisfaction concerns
two models:
1.

Emotional dissonance. Emotional dissonance is a state of discrepancy

between public displays of emotions and internal experiences of emotions, that often
follows the process of emotion regulation. Emotional dissonance is associated with
high emotional exhaustion, low organizational commitment, and low job satisfaction.
2.

Social interaction model. Taking the social interaction perspective, workers

emotion regulation might beget responses from others during interpersonal

encounters that subsequently impact their own job satisfaction. For example: The
accumulation of favorable responses to displays of pleasant emotions might
positively affect job satisfaction.
4.4.2 Genetics
It has been well documented that genetics influence a variety of individual
differences .Some research suggests genetics also play a role in the intrinsic, direct
experiences of job satisfaction like challenge or achievement (as opposed to
extrinsic, environmental factors like working conditions). One experiment used sets
of monozygotic twins, reared apart, to test for the existence of genetic influence on
job satisfaction. While the results indicate the majority of the variance in job
satisfaction was due to environmental factors (70%), genetic influence is still a minor
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factor. Genetic heritability was also suggested for several of the job characteristics
measured in the experiment, such as complexity level, motor skill requirements, and
physical demands.
4.4.3 Personality
Some research suggests an association between personality and job satisfaction.
Specifically, this research describes the role of negative affectivity and positive
affectivity. Negative affectivity is related strongly to the personality trait of
neuroticism. Individuals high in negative affectivity are more prone to experience
less job satisfaction. Positive affectivity is related strongly to the personality trait of
extraversion. Those high in positive affectivity are more prone to be satisfied in most
dimensions of their life, including their job. Differences in affectivity likely impact how
individuals will perceive objective job circumstances like pay and working conditions,
thus affecting their satisfaction in that job.
There are two personality factors related to job satisfaction, alienation and locus of
control. Employees who have an internal locus of control and feel less alienated are
more likely to experience job satisfaction, job involvement and organizational
commitment. A meta-analysis of 187 studies of job satisfaction concluded that high
satisfaction was positively associated with internal locus of control. The study also
showed characteristics like high _achiavellianism, narcissism, trait anger, type A
personality dimensions of achievement striving and impatience/irritability, are also
related to job satisfaction.
4.4.4 Psychological well-being
Psychological well-being (PWB) is defined as the overall effectiveness of an
individuals psychological functioning as related to primary facets of ones life: work,
family, community, etc. There are three defining characteristics of PWB. First, it is a
phenomenological event, meaning that people are happy when they subjectively
believe themselves to be so. Second, well-being involves some emotional
conditions. Particularly, psychologically well people are more prone to experience
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positive emotions and less prone to experience negative emotions. Third, well-being
refers to ones life as a whole. It is a global evaluation. PWB is primarily measured
using the eight-item Index of Psychological Well-Being developed by Berkman
(IPWB). IPWB asks respondents to reply to a series a questions on how often they
felt pleased about accomplishing something, bored, depressed or unhappy, etc.
PWB in the workplace plays an important role in determining job satisfaction and has
attracted much research attention in recent years. These studies have focused on
the effects of PWB on job satisfaction as well as job performance. One study noted
that because job satisfaction is specific to ones job, the research that examined job
satisfaction had not taken into account aspects of ones life external to the job. Prior
studies had focused only on the work environment as the main determinant of job
satisfaction. Ultimately, to better understand job satisfaction (and its close relative,
job performance), it is important to take into account an individuals PWB. Research
published in 2000 showed a significant correlation between PWB and job
satisfaction (r = .35, p < .01). A follow-up study by the same authors in 2007
revealed similar results (r = .30, p < .01). In addition, these studies show that PWB is
a better predictor of job performance than job satisfaction alone.

4.5

MEASURING

The majority of job satisfaction measures are self-reports and based on multi-item
scales. Several measures have been developed over the years, although they vary
in terms of how carefully and distinctively they are conceptualized with respect to
affective or cognitive job satisfaction. They also vary in terms of the extent and rigour
of their psychometric validation.
The Brief Index of Affective Job Satisfaction (BIAJS) is a 4-item, overtly affective
as opposed to cognitive, measure of overall affective job satisfaction. The BIAJS
differs from other job satisfaction measures in being comprehensively validated not
just for internal consistency reliability, temporal stability, convergent and criterionrelated validities, but also for cross-population invariance by nationality, job level,
and job type. Reported internal consistency reliabilities range between .81 and .87.
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The Job Descriptive Index (JDI),is a specifically cognitive job satisfaction measure.
It measures ones satisfaction in five facets: pay, promotions and promotion
opportunities, coworkers, supervision, and the work itself. The scale is simple,
participants answer either yes, no, or cant decide (indicated by ?) in response to
whether given statements accurately describe ones job.
Other

job

satisfaction

questionnaires

include:

the

Minnesota

Satisfaction

Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The
MSQ measures job satisfaction in 20 facets and has a long form with 100 questions
(five items from each facet) and a short form with 20 questions (one item from each
facet). The JSS is a 36 item questionnaire that measures nine facets of job
satisfaction. Finally, the Faces Scale of job satisfaction, one of the first scales used
widely, measured overall job satisfaction with just one item which participants
respond to by choosing a face.

4.6

RELATIONSHIPS AND PRACTICAL IMPLICATIONS

Job satisfaction can be indicative of work behaviors such as organizational

citizenship, and withdrawal behaviors such as absenteeism, and turnover. Further,
job satisfaction can partially mediate the relationship of personality variables and
deviant work behaviors.
One common research finding is that job satisfaction is correlated with life
satisfaction. This correlation is reciprocal, meaning people who are satisfied with life
tend to be satisfied with their job and people who are satisfied with their job tend to
be satisfied with life. However, some research has found that job satisfaction is not
significantly related to life satisfaction when other variables such as nonwork
satisfaction and core self-evaluations are taken into account.
An important finding for organizations to note is that job satisfaction has a rather
tenuous correlation to productivity on the job. This is a vital piece of information to
researchers and businesses, as the idea that satisfaction and job performance are
directly related to one another is often cited in the media and in some non-academic
29 | P a g e

management literature. A recent meta-analysis found surprisingly low correlations

between job satisfaction and performance. Further, the meta-analysis found that the
relationship between satisfaction and performance can be moderated by job
complexity, such that for high-complexity jobs the correlation between satisfaction
and performance is higher than for jobs of low to moderate complexity. Additionally,
one longitudinal study indicated that among work attitudes, job satisfaction is a
strong predictor of absenteeism, suggesting that increasing job satisfaction and
organizational commitment are potentially good strategies for reducing absenteeism
and turnover intentions. Recent research has also shown that intention to quit alone
can have negative effects on performance, organizational deviance, and
organizational citizenship behaviours. In short, the relationship of satisfaction to
productivity is not as straightforward as often assumed and can be influenced by a
number of different work-related constructs, and the notion that a happy worker is a
productive worker should not be the foundation of organizational decision-making.
For example, employee personality may even be more important than job
satisfaction in regards to performance.

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CHAPTER V

31 | P a g e

5.1

RESEARCH METHODOLOGY

5.1.1 RESEARCH DESIGN

The research was carried out in the time span of 4 weeks at the Circle Office of
PNB, Ranchi, Jharkhand. Out of the 30 employees working at the office, 20 were
administered a questionnaire which contained questions regarding the basic
questions which were important from the point of view of knowing and interpreting
the perceptions and attitudes the employees had with regard to the organization.
Each respondent was given the time of 4-5 days for filling up the questionnaire. They
were also questioned about the challenges that they faced and the opportunities that
they get. The research design for my research work was exploratory. The data was
analyzed using statistical tools such as tables, bar graph and pie charts.

5.1.2 DATA COLLECTION TOOLS

In the preparation of this report, the data was collected from different sources. The
sources of data are as follows:

Primary data: This data was gathered from first hand information sources by the

researcher. This data was collected from employees of different posts by

administrating the questionnaire and having face to face interaction with them.

Secondary data: This gave the theoretical basis required for the report

presentation which was available from various sources such as annual reports,
manuals, brochures and publications of the organization.

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Face to Face Interviews:

This was one of the major sources of data collection of the research carried out. It
proved to be quite advantageous as the sample size was small i.e. 20 employees. It
was also not very time taking to interview each of them 20 employees. I found
myself very actively involved in the interview. Since the respondents were physically
involved, chances of non answering were almost eliminated. This was one of the
most valid and authentic method of data collection. However, in some cases the time
taken was too high which proved to be disadvantageous.

Questionnaires:
Each respondent was given a questionnaire which contained questions on different
aspects of their job. Some questions were based on how they feel in carrying out the
tasks given to them, the relationship with their team, their superiors and
subordinates and what shortcomings and challenges they faced in their jobs. The
basic information of each employee was also taken i.e. the post, age and number of
years of spent in the job etc. The questionnaire contained questions on background
information, scaled questions and open ended questions where the respondent was
free to express his thoughts. The responses were later analyzed so as to draw a
proper conclusion for the population from the sample of employees surveyed.

5.1.3 DATA ANALYSIS TOOLS:

Data, which was gathered by administering questionnaires, was processed in a

simple manner to determine the level of satisfaction among employees. Every
response was analyzed carefully and the overall satisfaction level was determined.
Data collected was carefully tabulated and analyzed by making use of different
statistical tools such as the tabular chart, pie chart and bar graph.

33 | P a g e

CHAPTER VI

34 | P a g e

6.1

1.

ANALYSIS AND FINDINGS

Overall how satisfied are you working for the company?

Attributes
Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

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Number
0
5
5
6
4
0

Percentage
0
25
25
30
20
0

Interpretation:
From the above graphs, it can be inferred that 25% of the employees are very
dissatisfied, 25% are somewhat dissatisfied, and another 20% somewhat satisfied
and the rest 30% are neutral regarding the overall job satisfaction level.

36 | P a g e

2.
Is there adequate means of communication from employees
to manager across the company?
Attributes
Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

Number of Response
0
8
4
2
6
0

Percentage of Response
0
40
20
10
30
0

Interpretation:
It can be inferred that 40% of the employees are very dissatisfied, 20% are
somewhat dissatisfied, 30% are somewhat satisfied and the remaining 10% are
neutral as far as the adequate means of communication between employees and the
manager is concerned.

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3.
Is there adequate communication from manager to employee
across the company?
Attributes
Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

Number of Response
0
12
4
2
2
0

Percentage of Response
0
60
20
10
10
0

Interpretation:
From the above graph, it can be inferred that 60% of the employees are very
dissatisfied with the manager to employee communication in the company, 20% are
somewhat dissatisfied, 10% are neutral and another 10% are extremely satisfied.

4.

Do you feel yourself aligned with the companys mission?

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Attributes
Yes
No
May be

Number of Response
12
5
3

Percentage of Response
60
25
15

Interpretation:
It can be inferred that 60% of the employees feel aligned with the companys
mission, 25% dont and 15% employees feel that they maybe aligned with the
companys mission.

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5.

Are you satisfied working with your department?

Attributes
Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

Number of Response
2
4
8
0
6
0

Percentage of Response
10
20
40
0
30
0

Interpretation:
It can be inferred that for working in their respective departments, 10% are extremely
dissatisfied, 20% are very dissatisfied, another 40% are somewhat dissatisfied and
30% are somewhat satisfied.

6.
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My job gives me opportunity to learn.

Attributes
Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

Number of Response
0
4
9
2
7
0

Percentage of Response
0
20
45
10
35
0

Interpretation:
It can be inferred that 18% of the employees feel very dissatisfied about the fact that
their job gives them learning opportunities, 41% feel somewhat dissatisfied, 9% are
neutral and 32% feel somewhat satisfied.

7.

I have the tools and resources, I need to do my job

Attributes
Extremely Dissatisfied

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Number of Response
0

Percentage of Response
0

Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

2
6
2
10
0

10
30
10
50
0

Interpretation:
It can be inferred that 10% of the employees are very dissatisfied with the resources
they have to do their job, 30% are soomewhat dissatisfied, 10% are neutral and 50%
are somewhat satisfied.

8.

I receive the right amount of recognition for my work.

Attributes

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Number of Response

Percentage of Response

Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied

0
6
8
0
6
0

0
30
40
0
30
0

Interpretation:
It can be inferred that 30% of the employees are very dissatisfied for the recognition
they receive for their work, 40% are somewhat dissatisfied whereas only 30% are
somewhat satisfied.

9.

I feel underutilized in my Job.

Attributes
Disagree Completely

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Number of Response
0

Percentage of Response
0

Strongly Disagree
Somewhat Disagree
Neither Agree or
Disagree
Somewhat Agree
Agree Completely

4
6
8

20
30
40

2
0

10
0

Interpretation:
It can be inferred from the above graph that 20% of the employees strongly disagree
to the fact that they feel underutilized in their job, 30% somewhat disagree, 40%
neither agree nor disagree and 10% somewhat agree to this.

10.
My supervisor provides me with actionable suggestions
on what I can do to improve.
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Attributes
Disagree Completely
Strongly Disagree
Somewhat Disagree
Neither Agree or
Disagree
Somewhat Agree
Agree Completely

Number of Response
0
4
7
4

Percentage of Response
0
20
35
20

5
0

25
0

Interpretation:
It can be inferred from the above bar graph that 20% of the employees strongly
disagree, 35% somewhat disagree, 20% neither agree nor disagree and 25%
somewhat agree to the fact that their supervisors provide them with actionable
suggestions to improve their jobs.

11.

I am satisfied with my base pay.

Attributes
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Number of Response

Percentage of Response

Disagree Completely
Strongly Disagree
Somewhat Disagree
Neither Agree or
Disagree
Somewhat Agree
Agree Completely

0
7
8
2

0
35
40
10

3
0

15
0

Interpretation:
It can be inferred from the pie chart that 35% of the employees strongly disagree,
40% somewhat disagree, 10% neither agree nor disagree and only 15% somewhat
agree that they are satisfied with their base pay.

12.

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I am satisfied with the bonus I receive.

Attributes
Disagree Completely
Strongly Disagree
Somewhat Disagree
Neither Agree or
Disagree
Somewhat Agree
Agree Completely

Number of Response
0
7
9
2

Percentage of Response
0
35
45
10

2
0

10
0

Interpretation:
It can be inferred from the above shown pie chart that 35% of the employees
strongly disagree, 45% somewhat disagree whereas 10% neither agree nor disagree
and yet another 10% somewhat agree that they are satisfied with the bonus that
they receive.

13.

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I am satisfied with the vacation plan I receive.

Attributes
Completely Disagree
Very Disagree
Somewhat Disagree
Neutral
Somewhat Satisfied
Very Satisfied
Completely Satisfied

Number of Response
0
9
5
1
2
1
0

Percentage of Response
0
45
25
10
10
5
0

Interpretation:
It can be seen that 11% are completely dissatisfied, 50% are very dissatisfied, 28%
somewhat dissatisfied, 5% neutral, 11% somewhat satisfied and only 6% are very
satisfied with the vacation plans they receive.

14.

I am satisfied with the process to determine Promotion.

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Attributes
Completely Satisfied
Very Satisfied
Somewhat Satisfied
Neutral
Somewhat Disagree
Very Disagree
Completely Disagree

Number of Response
0
2
2
0
9
7
0

Percentage of Response
0
10
10
0
45
35
0

Interpretation:
It can be inferred that 10% are very satisfied, 10% are somewhat satisfied, 45% are
somewhat dissatisfied and 35% are very dissatisfied with the promotion process
used in the company.

15.

I am satisfied with the other benefits offered by the company.

Attributes
Completely Disagree
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Number of Response
0

Percentage of Response
0

Very Disagree
Somewhat Disagree
Neutral
Somewhat Satisfied
Very Satisfied
Completely Satisfied

7
10
0
2
1
0

35
50
0
10
5
0

Interpretation:
It can be seen that 35% are very dissatisfied, 50% are somewhat dissatisfied, 10%
are somewhat satisfied whereas only 5% are very satisfied with the other benefits
that they receive at the company.

16. I am satisfied with my possibilities for future career

progression at the Company.

Attributes
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Number of Response

Percentage of Response

Completely Disagree
Very Disagree
Somewhat Disagree
Neutral
Somewhat Satisfied
Very Satisfied
Completely Satisfied

0
7
8
0
1
4
0

0
35
40
0
5
20
0

Interpretation:
Regarding their possibilities for future career growth, 20% of the employees are very
satisfied, 5% somewhat satisfied, 40% somewhat dissatisfied and 35% are very
dissatisfied.

BACKGROUND DETAILS
Age:
In Years

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Number of Respondents

Percentage of

Respondents
18-29

20%

30-39

20%

40-55

12

60%

55+

Number of Respondents

Percentage of
Respondents

Male

16

80%

Female

20%

Gender:

Number of years spent in the organization:

Number of Respondents

Percentage of
Respondents

Less than 1 year

1-3 years

40%

4-6 years

12

60%

6.2

6 years

LIMITATIONS OF THE STUDY:

Limitations are influences that the researcher cannot control. They are the
shortcomings, conditions or influences that cannot be controlled by the researcher
52 | P a g e

that place restrictions on the methodology and conclusions. Any limitations that
influenced the results are as follows:

The time period of the study was limited to 4 weeks only.

Some employees were reluctant to answer to the questions.

Some of the employees did not respond to the open ended questions of the

questionnaire.

The sample size was restricted to 20.

Some of the responses of the questionnaire were illegible.

53 | P a g e

CHAPTER VII

54 | P a g e

7.1

SUGGESTIONS

The company should try to understand the problems that the employees are facing
and try to find solution to the same so that no employee is dissatisfied with the
company.

The management should try to improve the communications between the superiors
and subordinates in the company so that it can help them to work together in an
effective and efficient manner.

Some employees dont feel that they are aligned with the companys mission; the
company to try to understand the reasons for the same and help the employees
accordingly.

The employees should be given that department to work in, in which they find their
skills properly channeled and become more productive as a result.

Enough learning opportunities should be given to employees such as training

programs so that they become more productive.

Employees should be provided with the proper resources that are needed to carry
out the tasks.

Employees should get proper recognition for their work and they should not feel
underutilized in their jobs.

Employees should be compensated properly and adequately and the bonus and
other benefits should be given to them at regular intervals to retain them in the
organization and keep them satisfied.

The employees should get progression in their job keeping their future career
prospects in mind.

55 | P a g e

CHAPTER VIII

56 | P a g e

8.1

CONCLUSION

All the statutory and non statutory measures are provided to employees as per the
standard measures, which improve employee satisfaction and increase productivity.
Any organizations success and growth depends on its employees. The company
may have rich resources of capital, material, infrastructure, machines and
technology but if the quality of manpower is not good, the organization cannot
succeed. Employee welfare plays a vital role in every organization and the quality
and productivity of manpower depends on the welfare measures provided by the
organization to keep its employees satisfied.
By conducting this study, I have acquired an in-depth knowledge about employee
satisfaction and how the working environment and welfare programs contribute
towards the organizations success. I would further like to conduct a study on
employee welfare if I get an opportunity. This study would be very helpful for my
career in the HR field.

57 | P a g e

BIBLIOGRAPGHY
1.

Ashwathappa K, Human Resource Management, 2 nd Edition, Tata McGraw

Hill Publications, 2009.

2.

Tripathi, Personnel Management & Industrial Relations, 22 nd Edition, Sultan

Chand and Sons, 2013.

3.

P. Subba Rao, Essentials of HRM and Industrial Relations, 5/e Edition,

Himalaya

Publishing House, 2013.

4.

Punjab National Bank - https://en.wikipedia.org/wiki/Punjab_National_Bank

5.

Official Website of Punjab National Bank - www.pnbindia.in

6.

What is Job Satisfaction - https://en.wikipedia.org/wiki/Job_satisfaction

58 | P a g e

ANNEXURE

59 | P a g e

QUESTIONNAIRE
Gathering information on employee satisfaction, this survey focuses on how
employees feel about their job description, position within the company, relationships
with colleagues and superiors, advancement opportunities, and overall satisfaction.
This survey asks questions about your experience working for The Company. It
starts and ends with some questions about your satisfaction with various aspects of
work and contains other questions about how you think and feel about The
Company. Thank you for sharing your opinions.

1.

Overall, how satisfied are you working for The Company?

Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied
2.
To what extent do you agree with the following statement: I would recommend
this company as a good place to work.
Disagree Completely
Strongly Disagree
Somewhat Disagree
Somewhat Agree
Strongly Agree
Agree Completely
3.

What I like best about working for The Company is...

60 | P a g e

4.

Things that The Company should do to make it a better workplace are...

5. Please indicate the extent to which you agree with the following statements.
(a) The Company clearly conveys its mission to its employees.
(b) The Company clearly conveys the mission to its clients.
(c) I agree with The Company's overall mission.
(d) I understand how my job aligns with The Company's mission.
(e) I feel like I am a part of The Company.
(f) There is good communication from employees to managers in The Company.
(g) There is good communication from managers to employees in The Company.

5.

Overall, how satisfied are you working in your department?

Extremely Dissatisfied
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Extremely Satisfied
7. What I like best about working in my department is...

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8. Things that my department should do to make it a better place to work are...

9. Please indicate the extent to which you agree with the following statements:
(a) My job gives me the opportunity to learn.
(b) I have the tools and resources I need to do my job.
(c) I have the training I need to do my job.
(d) I receive the right amount of recognition for my work.
(e) I am aware of the advancement opportunities that exist in The Company for me.
(f) I feel underutilized in my job.
(g) The amount of work expected of me is reasonable.
(h) It is easy to get along with my colleagues.
(i) The morale in my department is high.
(j) People in my department communicate sufficiently with one another.

10. Which of the above factors most strongly affects your satisfaction with your
work? Why?

11. Please indicate the extent to which you agree with the following statements:
(a) Overall, my supervisor does a good job.
(b) My supervisor actively listens to my suggestions.
(c) My supervisor enables me to perform at my best.
(d) My supervisor promotes an atmosphere of teamwork.
62 | P a g e

(e) It is clear to me what my supervisor expects of me regarding my job

performance.
(f) My supervisor evaluates my work performance on a regular basis.
(g) My supervisor provides me with actionable suggestions on what I can do to
improve.
(h) When I have questions or concerns, my supervisor is able to address them.
12. What else about your supervisor affects your job satisfaction?

13. How satisfied are you with...

(a) your base pay?
(b) your bonus?
(c) your career progression at The Company thus far?
(d) your possibilities for future career progression at The Company?
(e) the vacation time you receive?
(f) the retirement plan?
(g) your medical insurance?
(h) other benefits offered by The Company?
(i) the process used to determine annual raises?
(j) your annual raise?
(k) the process used to determine promotions?
14. What other aspects of your job significantly affect your overall job satisfaction?

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15. What is your current position?

Position 1
Position 2
Position 3
Position 4
Position 5

17.

In which department do you work?

Department 1
Department 2
Department 3
Department 4
Department 5

18.

How many years have you been with The Company?

Less than a year 1 - 3 years

4 - 6 years
More than six years

19.

What is your primary work location?

Location 1
Location 2
Location 3
Location 4
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Location 5

20.

What is your gender?

Male
Female

21.

What is your age?

18 29
30 - 39
40 55
55+ years

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