CHAPTER 1

INTRODUCTION

TOPIC INTRODUCTION
MEANING OF JOB SATISFAC'I'ION:The term "Job satisfaction" was brought to limelight by Hoppock. He reviewed 32
studies on job satisfaction conducted prior to 1933. According to him "Job satisfaction
is the combination of psychological and environmental circumstances that cause a
person to truthfully say "I am satisfied with my job."
Organizational commitment and job satisfaction play important role in organization
behavior variables which still challenging for further research (Brown and Gaylor
2002). Job satisfaction is one important factor that influences positive employee
behavior (Arnett, Laurie, and McLane 2002). In other words, when individual is
satisfied with his Job, that individual feels more responsible and committed to the
organization.
Job satisfaction is defined as a positive emotional state resulting from evaluating one's
job experiences (Mathis and Jackson 2003). Job satisfaction can be achieved when
employees (1) enjoy their work (2) have a realistic opportunity about their career (3)
like the people with whom they work (4) they like and respect their supervisor, and (5)
believe their pay is fair.
The term, "job satisfaction" is commonly used by the academicians and the executive.
In the words of Feldman and Arnold, "Job satisfaction is the amount of overall positive
effect or feelings that individuals have towards their jobs."
"Job satisfaction is the amount of pleasure or contentment associated with a job. If you
like your job intensely, you will experience high job satisfaction. If you dislike your job
intensely, you will experience job dissatisfaction." Job satisfaction is an individual's
emotional reaction to the job itself which is his attitude towards his job.
The term relates to the total relationship between an individual and the employer for
which he is paid. Satisfaction does mean the simple feeling state accompanying the
attainment of any goal. Job satisfaction is the end feeling of a person after performing a
task. Research workers differently described the factors contributing to job satisfaction
and job dissatisfaction. Thus, job satisfaction is an employee's attitude towards his job.
2

For many of us, the idea of finding a job that is really truly satisfying - the kind where
work isn't really work anymore - is pure fantasy. Sure, professional athletes, ski
patrollers and golf pros may have found a way of doing what they love and getting paid
for it. But is there actually anyone out there who dreams of sitting at a desk and
processing paper, or watching products fly by them on conveyor belts, or working to
solve other people's problems?
"Reframing" can help you find the good in a bad situation. For example, you receive a
less than perfect performance appraisal and your boss warns you to improve or move to
another job. Instead of taking it personally or looking for another job right away, look
for the silver lining. Depending on where you work, the silver lining may be attending
continuing education classes or working closely with a performance coach and having
the satisfaction of showing your boss that you're capable of change.

JOB SATISFACTION IN RELATING TO OTHER

ASPECTS
Job satisfaction is further aided in its understanding by fro-ding relative importance, to
the employee, of the various factors contributing to it. Only, when such relative
importance of various factors is known to the management then proper action can be
taken.
To measure job satisfaction as developed by Porter is to find out the gap between what
the employee experiences about that particular factor in his actual condition and what
thinks should be there. This gap, along with the factor to the employee gives a clearer
understanding of the extent and nature of job satisfaction of the employees.
Job Satisfaction And Productivity or Work Performance:
The old view that `a happy worker is a productive worker' does not clarify the complex
relationship between job satisfaction and productivity. It was traditionally said that high
job satisfaction leads to improved productivity, decreased turnover, reduced accidents
and less job stress in the long run. But the relationship between job satisfaction and
productivity is not definitely established.
Earlier it was assumed that high job satisfaction led to high productivity but later
research indicated that this was an incorrect assumption. Satisfied workers turned out to
be either high producers or low producers. The satisfaction-productivity relationship
appeared to be quite complex being influenced by various intermediate factors such as
rewards that an employee receives.
The content theories of motivation assume a direct relationship between job satisfaction
and improved performance. The expectancy theories of motivation, however, recognize
the complexity of job motivation and consider in detail the relationship between
motivation, satisfaction and performance.
Job satisfaction does not necessarily lead to improved work performance. For example,
from the results of twenty studies, Vroom found no simple relationship, and only a low
median correlation (0.14) between job satisfaction and job performance.

Porter and Lawler found that job performance leads to job satisfaction and not the other
way round. They argued that performance leads to two kinds of rewards- intrinsic and
extrinsic. The intrinsic rewards such as growth, challenging job, etc. stem from the job
itself and extrinsic rewards are under the control of management such as salary, bonus,
etc. intrinsic rewards are more closely related to satisfaction.
For instance, if a person performs well on a challenging assignment, he gets an
immediate feeling of satisfaction.
The lack of correlation between job satisfaction and performance can be explained as
follows, if a job holds little potential for intrinsic rewards, and if extrinsic rewards bear
a very little relationship to the performance level of the individual the resultant
connection between satisfaction and performance tends to be weak. In such a situation,
management should do two things:
Modify the job so that it becomes capable of yielding intrinsic rewards for
performance.
Correct the reward system so that it acts as an incentive for higher performance,
i.e., higher performance receives proportionally higher extrinsic rewards.
In practice, there may not be direct cause and effect relationship between job
satisfaction and productivity at lower levels because productivity at lower levels
because productivity is determined by outside factors like speed of machine, quality of
materials, type of supervision, etc. However, individual differences cloud the position.
The `average' workers do work hard when satisfied. But some' workers may work hard
in order to forget their lack of contentment, and other workers are more content when
their work requires modest or little effort.
JOB SATISFACTION AND ABSENTEEISM:
Although a number of definitions of absenteeism are available in literature, almost all
of them indicate absenteeism as absence from work when one is expected to work.
Absence from work could be attributes to either the inability or the unwillingness on
5

the part of employees to work. Any absence with prior notice and approval is, of
course, not included in this definition. Thus, if a worker takes his earned leave with
prior approval, it is not counted as absenteeism. . However, a person being absent due
to unforeseen sickness is counted as an absent.
There is a negative relationship between satisfaction and absenteeism, though the
correlation is not high. It makes sense that dissatisfied workers are more likely to
abstain from work as compared to the satisfied workers. But even the satisfied workers
may absent themselves from the workplace to enjoy a three-day weekend. That means
outside factors can act to reduce the correlation 'between dissatisfaction and
absenteeism. The fact, however remains that the absence from work, irrespective of the
reasons, adds considerable cost to the process of output.
JOB SATISFACTION AND INTERPERSONAL INTERACTION:
Interpersonal relationship prevailing in the work group can be viewed as the
environment for the work group, which ultimately determines the attitudes, job
satisfaction and motivation of the individual and the group.
Interpersonal relationships have invariably, to develop through interpersonal
communication and interaction. If we look at the probability of mutual feelings of
human satisfaction and dissatisfactions base purely on interpersonal interaction
between any two persons in the work group and the subordinates of the group, the
alternatives will appear as:

Satisfying to
others

Satisfying to Self
Level1
Level2
Sympathy
Mutual
love,

respect & trust

Dissatisfying to self
Obedience,
controlled discipline

affection
Dissatisfying to Superiority dominance

Hatred,

others

misunderstanding

JOB SATISFACTION AND EMPLOYEE TURNOVER:

High employee turnover is of considerable concern for the management because it
disrupts normal operations, causes morale problems for those who stick on, and
increases the cost involved in selecting and training replacements. The employer must
do whatever possible to minimize turnover, make the employees feel satisfied on their
jobs.
Unlike the relationship betw.een satisfaction and productivity, the connection between
job satisfaction and employee turnover is established. It has been demonstrated that
workers who have relatively low levels of job satisfaction are most likely to quit their
jobs and that organizational units with the lowest average satisfaction levels tend to
have the highest turnover rates. However, the withdrawal behaviour of employee is
modified by certain factors. Loyalty to the organization is one such. Some employees
cannot judge themselves working elsewhere, however dissatisfied they are in their
present jobs.
JOB SATISFACTION AND ACCIDENTS:
Research on the relationship between job satisfaction and accident, generally shows
that the higher the higher the satisfaction with the job, the lower is the rate of accidents.
Though it is difficult to explain such a relationship but generally a satisfied employee
would not be careless or negligent and would encounter lesser possibilities of running
into an accident situation. The more favorable attitude towards job would make him
more positively inclined to his job.
JOB SATISFACTION AND ADJUSTMENT:
If the employee is facing problems general adjustment, it is likely to affect his work
life. Although it is difficult to define most adjustment most psychologists have been
able to narrow it down to what they call neuroticism and anxiety. .Neuroticism can be
examined in the, light of what is socially expected behavior has come to be identified as
neurotic behavior. Since, the socially desirable behavior may change from generation
7

.to generation. Though it is very easy to know the symptoms of neuroticism it is very
difficult the causes. People with lower level of anxiety and lower level of neuroticism
are found to be more satisfied with their jobs.
JOB SATISFACTION AND UNIONISM:
In the Indian context where unions are strong and persuasive to think of job satisfaction
without unionism would be very unrealistic. Although a large number of workforces, in
rural sector, is not unionized, in large cities unions are a fact of life. If personnel
policies and practices of management are seen as dissatisfying, most workers tend to
see at the union official to settle their grievances. The purpose of unions is to protect
the economic interest of its members. So the managers consider the morale motivation
of the employees.
For one reason or the other, in India, the means to achieve ends have rather been
militant and disruptive to the process of productivity and production.
JOB SATISFACTION AND MORALE:
Morale is a condition, which exists in a context where people are:
Motivated towards high productivity,
Want to remain with organization,
Act effectively in crisis,
Accept changes without resentment,
Actually promote the interest of the organization,
Satisfied with the job.
According to this description of morale, job satisfaction is an important dimension of
morale. Morale is a general attitude of worker and relates to group while job
satisfaction is an individual feeling, which could be cause by a variety of factors
including group.
Morale phenomenon and job satisfaction is a distributive one. In other words, it is a
general attitude towards work by an individual worker. On the other hand, morale is a
8

group phenomenon, which emerges as a result of adherence to group goals and

confidence in the desirability of these goals.
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 and 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 term attitude and job
satisfaction are used interchangeably. However, a closed analysis may reveal that
perhaps; they measure two different anchor points. Attitudes are predispositions that
make the individual behave in a characteristic way across situations. They are
precursors to behavior and determine its intensity and direction. In this respect, job
attitudes and job satisfaction may have something in common.
JOB SATISFACTION AND OI2GANIZATIONAL OBJECTIVES:
Not much is known about how the overall goals of the organization contribute to the
degree of satisfaction/dissatisfaction. A study of the relationship between satisfaction
and organizational objectives may throw light on a variety of issues that otherwise may
not be possible. For example, such a study may help organizations to develop
organizational level plans to induce greater satisfaction, help the employees to develop
an identity with the organization, or just improve their commitment to work and loyalty
to the organization.

THEORIES OF JOB SATISFACTION

The major theories of job satisfaction are:
Herzberg's Motivation Hygiene Theory
Need Fulfillment Theory
Discrepancy Theory
Equity Theory
Social Reference Theory
Two Factor Theory
1. HERZBERG'S MOTIVATION THEORY
This theory was developed by Herzberg, Manunser, Peterson and Capwell who
identified certain factors as satisfiers and dissatisfies. Factors such as recognition,
achievement, responsibility etc., are satisfiers, the presence of which causes satisfaction
but their absence does not causes dissatisfaction. On the other hand, factors such as
supervision, salary, working condition etc., dissatisfies the absence of which causes
dissatisfaction. The studies designed to test the theory failed to give any support to this
theory as both can't be there at the same time.
2. NEED FULFILLMENT THEORY
In this theory it is believed that a person is satisfied if gets what he wants, or the more
important it is to him, the more satisfied it is to him, the more dissatisfied he is when he
does not get it. Thus, the proponents of this theory measure satisfaction in terms of
rewards a person receives or the extent to which his needs are satisfied. Further they
thought that there is a positive relationship between job satisfaction and the actual
satisfaction of the expected needs. Job satisfaction cannot be regarded as merely a
function of how much a person receives from his job which is the limitation of this
theory.
3. DISCREPANCY THEORY
The proponents of this theory argued that satisfaction is the function of what a person
actually receives from his job situation and what he thinks he should receive, or what
10

he expects to ~receive. When the actual situation is less than the expected situation then
it results in dissatisfaction. This approach does not make it clear whether or not over
satisfaction is a part of dissatisfaction and if so how does it differ from dissatisfaction.
4. EQUITY THEORY
The proponents of this theory are of the view that a person's satisfaction is determined
by his perceived equity, which in turn is determined by his input-output balance
compared to his comparison of others. Input output balance is perceived ratio of what a
person receives from his job relative to what he contributes to the job. This theory is of
the view that both under and over rewards lead to dissatisfaction while the underrewards cause feelings of unfair treatment over-reward leads to feelings of discomfort.
5. SOCIAL RETERNCE GROUP THEORY
This theory is similar to need fulfillment theory except that it takes into account not the
interests, needs of the individual in it defines the way in which he should look at the
world. It would be predicted that if a job meets the interests of the individual he will
like it and if it does not he will not like it. This theory gives an incomplete explanation
since some may go along with group opinions while some may go the other way.

11

FACTORS CONTRIBUTING TO JOB SATISFACTION AND JOB

DISSATISFACTION:
Job satisfaction is a complex phenomenon. The nature and extent of factors
contributing to it are not yet fully known. But a good deal of research studies in various
countries with different cultures, which have accumulated by now, have try advanced
our understanding of the factors.

Factors in Job Satisfaction

Factors in Job Dissatisfaction

Motivators/ Satisfiers/ Job Content

Extrinsic/ Job Context/ Hygiene

Content

Achievement

Salary

Recognition

Working conditions

Work Itself

Technical supervision

Responsibility

Job security

Advancement

Status

Psychological Growth

Personal life

12

Determinants of Job satisfaction

Environmental Factors

Personal Factors

Factors Controllable By The Management

Environmental Factors
These factors relate to the work environment, main among which are as follows:
1. Job Content = Herzberg suggested that job content in terms of achievement,
recognition, advancement and the work itself tend to provide satisfaction but their
absence does not cause dissatisfaction. Where the job is less repetitive, job
satisfaction tends to be higher.
2. Occupational level = the higher the level of the job in organizational hierarchy the
greater the satisfaction of the individual. This is because positions at higher level
are generally better paid, more challenging and provide greater freedom of
operation.
3. Pay and Promotion = All other things being equal, higher pay and better
opportunities for promotion lead to higher job satisfaction.
4. Work Group = man is a social animal and likes to be associated with others
interactions in the work group help to satisfy social and psychological needs and,
therefore, isolated workers tend to be dissatisfied.
5. Supervision = Consideration supervision tends to improve job satisfaction of
workers. A considerate supervisor takes personal interest in his subordinates and
allows them to participate in the decision-making.
Personal factors
Personal life exercises a significant influence on job satisfaction. The main elements of
13

personal life are given below:

1. Age = Some research studies reveal a positive correlation between age and job
satisfaction. Workers in the advanced age group tend to be more satisfied probably
because they have adjusted with their job conditions. However, there is a sharp
decline after a point perhaps because an individual aspires for better and more
prestigious jobs in the later years of his life.
2. Sex = One study revealed that women are less satisfied than men due to fewer job
opportunities for females. But female workers are less satisfied due to their lower
occupational aspirations.
3. Education Level = Generally more educated employees tend to be less satisfied
with their jobs probably due to their higher job aspirations. However, research does
not yield conclusive relationship between these two variables.
4. Marital Status = The general impression is that married employees and employees
having more dependants tend to be more dissatisfied due to their greater
responsibilities. But such employees may be more satisfied because they value their
jobs more than unmarried workers.
5. Experience = Job satisfaction tends to increase with increasing years of experience.
But it may decrease after twenty years of experience particularly among people who
have not realized their job expectations.
FACTORS CONTROLLABLF BY THF MANAGEMENT
1. Salary = In case of manual and clerical workers wages were seldom mentioned as
satisfaction, while, in the discontented group, its inadequacy was looked upon as
the most important cause for dissatisfaction. Though the wage may be looked upon
as the most powerful incentive, it may not occupy the same, place only by itself in
determining satisfaction.
2. Security = It is the second most important preference out of various job factors
among Indian workers. In short while getting a job is of foremost important being
secured on the job is the very next requirement of the Indian worker.
3. Opportunity for Advancement = The fact that opportunity for advancement is so
highly ranked may lead to the interpretation that every worker will want to get
14

promotion and will feel satisfied in getting it. In reality, promotion is not available
to the majority of workers and the chances become less and less as one approaches
the organizational pyramid.
4. Co-Workers = The relationship with co-workers is considered as the most
important satisfier among a group of highly skilled personnel. It is also found that
friendly people to work with was ranked fairly high by better performers whereas it
was ranked low by poorer performers.
5. Responsibility = Responsibility does not feature independently in the list of factors
people want most in their jobs. It however is an important factor which possibly
gets mixed with other factors like opportunity for advancement, type of work, etc.

MANIFESTATION OF JOB DISSATISFACTION

Job dissatisfaction is manifested by various forms. Lowery and Rusbult identified the
following forms:
Exist: Leave organization
Neglect:

Absenteeism, late coming, reduces effort and increase errors.

Loyalty:

Hoping the situation to improve without complaints or protests. Believe

organizations to improve satisfaction.

Voice: Actively work to improve the situation by putting up constructive suggestions
and criticism.

Exit

Voice

15

Loyalty

Neglect

Destructive

Constructive

RESPONSE TO JOB DISSATISFACTION

HUMAN NEEDS:
In order to get work done through people, managers must know the followings:
1. Do the needs change with the type of the person?
2. What happens if the needs are not satisfied?
3. What happens if the needs are not satisfied?
4. What should be done to make the work satisfying experience?
(A) Needs:
It is defined as the "lack of anything, requisite, desired or useful". Personal needs for an
individual vary from time to time. It also varies in intensity or degree. For example, one
may need a glass of water urgently or in due course. Needs creates tension which can
be mental or physiological.
Unsatisfied need motivates a person to behave in a particular manner to satisfy his
needs. For example a thirsty man goes in search of water. He may go to a near tap if he
perceives water will be available there. Once he gets water his need is satisfied and
tension is relieved. This searching behavior is called "Constructive Behavior".
(B) Hierarchy:
When there are a numbers of needs, some may be more important than others.
Arrangement of needs in their order of priority or ranking, either ascending or
16

descending order is called the hierarchy of needs.

Unsatisfied
Need

Tension

Motive

Goal
Achieved

Perceived
Behavior

Attempted
Behavior

Human Frustration:
When Human needs are not satisfied it leads to frustration. He will again try alternative
method to achieve his aim. If again he fails, he repeats the attempt. The number of
attempts depends on his personality. If all attempts fail, this frustration gets increased.
This may lead to "defensive behavior". Such persons are called "maladjusted" a "maladapted" or "social inadequate". There are attempts to relieve tension arisen out of
frustration. When people adopt non-rational ways they are said to use defense
mechanism. Defense mechanism is not an effective step to solve the problem of
frustration it is a self-deception and apparent to protect individuals "self-concept'" or
'self image". Lawshe has classified defense mechanism into four types:
Aggression
Regression
Fixation
Resignation
Aggression
Here the frustration is manifested by attack outwards: It might be to the ``object"
perceived as the one causing obstruction to his goal. It may be sometime directed to
inanimate objects.
Regression
In this case the affected person behaves in an immature fashion and acts as persons
17

much below his age. Examples are uncontrolled crying, kicking.

Fixation
Here the affected person may continue to pursue. The same attempt, over and over
again, in which he has failed. This is a sort of "obsession" to the old things and habits.

JOB SATISFACTION INDEX

Total No. of

Average mean score of

Job Satisfaction

Attributes

attributes response

index (Mean x 100)

1.

10

2.50

250

2.

10

5.00

500

3.

10

2.50

250

4.

10

2.00

200

5.

10

2.50

250

6.

10

2.00

200

7.

10

3.33

333

8.

10

5.00

500

9.

10

3.33

333

10.

10

3.33

333

11.

10

3.33

333

Sr. No.

18

Graphical representation of the job satisfaction

index

The job satisfaction index has greatly fallen down in 2008-2009

as compared to the 2007-2008.

19

About hdfc
HDFC Bank (NYSE: HDB),

one amongst the firsts of the new generation,

tech-savvy commercial banks of India, was incorporated in August 1994, after the
Reserve Bank of India allowed setting up of Banks in the private sector. The Bank was
promoted by the Housing Development Finance Corporation Limited, a premier
housing finance company (set up in 1977) of India. The Operating Profit for the
quarter ended June 30, 2009 grew by 47.8 % to Rs. 1518.7 crores over the
corresponding quarter of the previous year. Provisions (other than tax) and
contingencies for the quarter were Rs. 658.8 crores as against Rs. 657.4 crores in the
March 31, 2009 quarter .After providing Rs.253.7 crores for taxation, the Bank
earned a Net Profit of Rs. 606.1 crores , an increase of 30.5% over the corresponding
quarter ended June 30, 2008.

History
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.

20

CHAPTER 3
RESEARCH
METHODOLOGY

21

RESEARCH METHODOLOGY
INTRODUCTION
This chapter focuses on the methodology and the techniques used for the collection,
classification and tabulation of data. It shed lights on the research problem, the
objective of study and its limitations. The later part of this chapter explain the manner
in which the data is collected, classified, tabulated and so as to reach on conclusive
results. It is written game plan for concluding research. There for to design a research
problem it is necessary to design a research methodology as the same may differ from
problem to problem.
Research is any organized inquiry carried out to provide information for solving
problems. Business research is a systematic inquiry that provides information to take
business decisions.
Definition
Research comprises of defining and redefining hypothesis or suggesting
solution, collecting, organizing and evaluating data making deductions and
reaching conclusions.

By

Cliford Woody
The term Research Methodology here comprises of all research activities
carried on in connection with the Analysis is various schemes under Saving, Current
and Fixed Deposit Accounts Provided by HDFC Bank.
The basis purpose of Research Methodology is to describe the research procedure. It
helps the researchers to the way to move on for carrying the study.
Formulation of research problem

Extensive literature survey

Research Design

22

Collection of data

Analysis of Data

Interpretation

Recommendation

RESEARCH DESIGN
There are many definitions of research design, but no definition imparts the full range
of important aspects. Several examples from leading authors can be cited.

Research design is like arrangement of conditions for collection and analysis of

data that aims to combine relevance to the research purpose with economy in
procedures.

Research design is purely and simply the framework of plans for a study that
guides the collections and analysis of data.

Research design is the conceptual structure within which the research is

conducted.
These definitions differ in detail, but together they give the essentials of

research design. First, the design is a plan for selecting the sources and types of
information used to answer the research question. Second, it is a framework for
specifying the relationship amount the various variables. Third, it is a blueprint that
outlines each procedure from the hypothesis to the analysis of data. The design
provides answers for such questions as these :

Why the study is being made?

What techniques will be used togather data ?

What kind of sampling will be used?

How will time & cost constraints be dealt with?

How the data can be analysed? In my study the organization was HDFC Bank
and sample size was around 100 persons.

23

TYPES OF RESEARCH DESIGN

Exploratory Research
design

Descriptive/ Diagnostic
Research Design

24

Experimental Research Design

OBJECTIVES OF THE STUDY

The objective of this report is to gain an in-depth knowledge about the job satisfaction
received by the employees working in the HDFC bank.
To find out level of satisfaction among employees.
To enumerate the reasons contributing to job dissatisfaction.
To suggest solutions for eliminating the dissatisfaction discrepancies.
TO know how job satisfaction can be a daily source of source of stress.
TO know the ways to boost your job satisfaction.
To know the strategies to improve your job satisfaction.

25

SCOPE OF STUDY
The scope has been limited to sample size of 100 respondents due to time and cost
constraints. However, the area of study with respect to geographical city of Jagadhri
and Yamuna Nagar.
DATA COLLECTION SOURCES
After the research problem has been defined and the research design has been chalked
out, the task of data collection begins. Data can be collected from either primary or
secondary source. In this study although the data was collected mainly through primary
sources, it was supplemented by secondary data.
For the collection of primary data, the respondents were contacted personally and the
tool for gathering the data was the questionnaire.

SOURCE OF DATA COLLECTION

To make the research complete it is very necessary to have useful and authentic data.
There are two types of data collection sources.
PRIMARY SOURCE OF DATA COLLECTION
Primary data are those, which are collected afresh & for the first time & this
happen to be original in character. In my project simple well drafted questionnaire was
circulated among all respondents. Full freedom was provided to an individual to answer
the questions.
Personal & Telephonic interviews, observation, personal opinion & viewpoints
of the respondents about the various schemes helped incompletion of the project.
SECONDARY SOURCES OF DATA COLLECTION
These are those which are collected by someone else & which have been passed
through statistical process.

26

Brouchers, Manual, Journals, Magazines, Site of HDFC Bank and Various

Articles lot many inputs for successful completion of project.

SAMPLING DESIGN
The various sampling plans used in the study were as follows :

Random Sampling
In this sampling technique each and every unit of universe has the same chance of
being included in the sample and every unit is selected randomly out of population.

Judgement Sampling
In this investigator selects only those items, which represents the characteristics of
the problem under study. The judgement of the investigator plays an important role
in the type of sampling.

Convenience Sampling
In this the investigator choose the items according to his own convenience. The
sample size depends upon the convenience of the investigator but the chances of
inaccuracy and biasness are more.

27

SAMPLING PROCEDURE
Sampling procedure refers to the procedure by which the respondents
should be chosen. In order to obtain a representative sample, conveniencesampling method has been used in this study without any stratification to
obtain a uniform size of respondents.

a. Selection of Sample
Sample can ideally be selected as percentage of total population of
respondents to increase the accuracy and reliability of the sample. Hence, a
sample size of 100 respondents was appropriate to keep sample accurate as
well as manageable.

b. Sampling Unit
The unit refers to the definitions of the particular person who is to be
survey. In this study the unit is the respondents, which is operating in
Jagadhri and Yamuna Nagar.

c. Sampling Size
This refers to the procedure by which we describe the total number of
respondents from whom the information is to be collected. Here I have
select 100 respondents.

28

Formation of Questionnaire
Quite often the questionnaire is considered as the heart of a survey
operation. Hence, it should be carefully constructed. In the words of Good
and Hatt, In general, the word questionnaire refers to a device for
securing answer to questions by using a form in which the respondents fills
in himself. All the questions in a questionnaire are framed with a specific
objective in mind and are placed in logical, sequential order. The
questionnaire framed for the purpose of the study consists of a limited
number of questions placed in a logical order. The questions were framed
keeping in mind the educational and social background of the companies
dealers. The questions were both open and closed ended as well as multiple
choices.
Classification of Data
It refers to the process of arranging data into homogenous classes.
Subsequent to the collection of data, the results were sorted out and
arranged in different categories.
Graphical Analysis
For presently the data in an organized form graphic method has been use
i.e. the data is mainly represented in the form of pie- graphs.

29

SWOT ANALYSIS
STRENGTHS:

It has an extensive distribution network comprising of 535 branches in 312

cities & one international office in Dubai this provides a competitive edge over
the competitors.

The Bank has a strong retail depository base & has more than million
customers.

Bank has strong brand equity.

ISO 9001 certification for its depository & custody operations & for its backend
processing of retail operations & direct banking operation.

The bank is a market leader in cash settlement service for the major stock
exchanges in its country.

HDFC Bank is one of the largest private sector banks working in India.

It has a highly automated environment in terms of information technology &

communication system.

Infrastructure is one of the best in the country.

It has many innovative products like kids Advantage scheme, NRI services.

WEAKNESSES:

Account opening and delivery of cheque book take more time. Lack of
availability of different credit products like CC Limit, Bill discounting facilities.

Complicated terms and conditions of products, which is not easily

understandable by the layman.

OPPORTUNITIES:
Branch expansion
Door step services
30

 Greater liberalization is foreign ownership via FDI in Indian Pvt. Sector banks.
Infrastructure movements & better systems for trading & settlement in the Govt.
securities & foreign exchange markets.

THREATS:

The bank has started facing competition from players like SBI, PNB in the
finance market itself. This may reduce the profit margins in the future.

Some Pvt. Banks have 7 days banking.

31

DATA COLLECTION
Data can be collected from either the Primary or Secondary sources. In this study
although the Data was collected mainly through Primary sources, it was supplemented
by Secondary sources.

Methods of Data Collection

S
P

Books, Magazines &

Interview Method

Newspapers

R
I
M

Public Records

Observation Method

O
N

Through Schedule

A
R

Questionnaire Method

Journals

A
R

Y
Other Methods

Reposts

32

Collection of Data:
Two types of data were used:
Primary Data: Structured questionnaire was used to collect primary data.
It helped in getting the required information in a proper manner.
Secondary Data: Secondary Data was collected through company
brochures, journals, internet, magazines etc.
Instruments Used:
Questionnaire:
A questionnaire is simply a formalized set of questions for eliciting
information. Questionnaire is considered as the heart of survey operation.
Hence it should be very carefully constructed. Type of questions
comprising the questionnaire, used for survey is as follows:
Dichotomous Questions:
Mostly dichotomous type of questions is used in many questionnaires. In
these type of questions only two alternatives Yes or No are there.
Multiple type Questions:
In these types of questions, choice is provided to the respondent in the
form of 2 or 4 alternatives. Therefore the respondent can answer according
to his choice.
STATISTICAL TOOL AND TECHNIQUES OF ANALYSIS
Data collection through survey is analyzed using:33

 Simple % Tabular
Graphic method that includes Bar Diagram, Pie Charts and
Methodology of project referred to the methods use to collect the required
data for the research work. The data required has been collecting from
following sources.
Primary Sources: Discussion with management
Interview with the concerned employee
Through questionnaire
Secondary Sources: Job Satisfaction Journals
HDFC Website

34

CHAPTER 4
ANALYSIS OF DATA

35

Table-1
Respondents classification according to their
satisfaction with work
response

No. of Respondents

%age

Extremely satisfied

16

Satisfied

12

24

neutral

13

26

dissatisfied

14

Extremely dissatisfied

10

20

INTERPRETATION:
The above table indicates that 40 percent of respondents are satisfied with their nature
of work whereas 34 percent are not. And 26 percent are both neither satisfied, nor
dissatisfied. The respondents believe that their work is hard and difficult but interesting.

Table-2
36

Respondents classification according to satisfaction

regarding management relationship
response
strongly satisfied
Satisfied
neutral
dissatisfied
strongly dissatisfied

No. of Respondents
6
14
15
7
8

INTERPRETATION:
The above table depicts that 40 percent of the respondents are satisfied with the
management relations whereas 30 percent are neutral and 40 percent are not satisfied.
Respondents believe that the promotions given to them are impartial.

37

%age
12
28
30
14
16

. Table-3
Response regarding service orientation
response
very satisfied
Satisfied
neuyral
dissatisfied
very dissatisfied

No. of Respondents
8
12
15
9
6

%age
16
24
30
18
12

INTERPRETATION:
The above table depicts that 40 percent of the respondents are satisfied with the service
orientation of the company whereas 30 percent are neutral and 30 percent are not
satisfied. 70 percent of respondents believe that the people with the right skills to meet
the customer needs.

Table-4
38

Response regarding time management

Response
No. of Respondents
Strongly agree
10
Agree
10
uncertain
16
Disagree
12
Strongly disagree
2

%age
20
20
32
24
4

INTERPRETATION:
The above table depicts that 40 percent of the respondents strongly agree, 32 percent of
the respondents agree and 28 percent disagree with the time management of the
company. It clearly shows that majority of the respondents agree with the time
management of the company

39

Table-5
response regarding personal growth and development
Response
Satisfied
dissatisfied

No. of
Respondents
31
19

%age
62
38

INTERPRETATION:
The above table shows that 62 percent of the respondents are satisfied with the service
orientation of the company whereas 38 percent are not

Table-6
40

response regarding measurement and compensation

Response
Satisfied
dissatisfied

No. of Respondents
16
34

%age
32
68

INTERPRETATION:
The above table depicts that 32 percent of the respondents are satisfied with the
measurement and compensation in the bank whereas 68percent are not. Respondents
believe that there is no proper system of performance appraisal and salary structure is
not good as compared to others.

Table-7
41

Response regarding working environment

Response
Satisfied
dissatisfied
Cant say

No. of Respondents
25
15
10

%age
50
30
20

INTERPRETATION:

The above table depicts that 50 percent of the respondents are satisfied with the
environment whereas 30 percent are not , but 20 percent cant say anything.
Respondents believe that the working atmosphere is friendly and they are provided
adequate facilities to do their job.

Table-8
42

Response regarding future orientation

Response
growing
Not growing
Cant say

No. of Respondents
32
10
8

%age
64
20
16

INTERPRETATION:
The above table depicts that 64% of the respondents are satisfied with the future
orientation of the company whereas 20 percent not and 16 percent cant say anything
about future orientation. Respondents believe that the company has a bright future
orientation.

Table-9
Response regarding quality circle
43

satisfaction

No. of Respondents

%age

Good

30

60

fair

11

22

poor

18

INTERPRETATION:
The above table depicts that 60% of the respondents are satisfied with the quality circle
of the company whereas 22 percent are say about fair satisfaction and 18 percent are
with poor satisfaction . Respondents believe that quality circles help in improving
teamwork and also help in itself development.

Table-10
Response regarding ethic
44

response
Very important
Fairly important
neutral
Not so important
Not at all important

No. of Respondents
10
14
16
7
3

%age
20
28
32
14
6

INTERPRETATION:
The above table depicts that 48 percent of the respondents gives response that the ethic
are important for bank, 32 percent respondents says that neutral and 20 percent says
that not important for bank. Respondents believe that the management always keeps its
promises.

SUGGESTIONS
45

Job satisfaction is persons emotional response to the aspects of

work (such as pay, benefits)or the work itself. It is determined by various
factors e.g. how well our needs and wants are met through work, work
conditions, sense of belongingness to the company, self achievement,
personality traits and so on.
Conventional theory believed that high satisfaction causes high
performance. However, modern theory suggests that the relationship
may be the other way round, i.e. high performance provides high
satisfaction which is reinforced by rewards.
Consequences of dissatisfaction are defensive behaviour, sabotage,
absenteeism and turnover. When employees perform below their full
potential, the organisation suffers from reduced effectiveness and
efficiency. The cost of absenteeism and turnover are the concern of
managers.
A job that is rewarded fairly, a service that is recognized by the
employer or clients. Rewards granted to the employees can further
increase job satisfaction and morale of the employees.

46

CHAPTER5
FINDINGS

47

FINDINGS
I was given the opportunity to conduct survey on the behalf of
the HDFC bank. During the survey I met different people and
collected the information through the questionnaire from these people.
I also collected information from other source like company
brochures, journals, internet, magazines etc.
After studying the data obtained from the respondents and other
sources I am able to say following things of my study.
Hdfc bank has a very good reputation in the mind of the
investors as an integral service provider and offering a large variety of
the services. Hdfc bank is known by the majority of the public for its
services.
As I have already mention by graphical representation that job
satisfaction

index has fallen down in 2008-2009 as

compared to 2007-2008
Frequently conduction of training and development programs.
Cooperative nature of employees.
Management relations are strong.
Factors such as supervision, salary and working conditions are

dissatisfy.

48

CONCLUSION
Job satisfaction is a pleasure or positive emotional state resulting from
the appraisal of one s job. There a number of outcomes of job satisfaction as its results
in fewer work grievances and less needed to learn new job related tasks. Most recently,
satisfied workers have been found to exhibit prosocial citizenship behaviours and
activities.
Moreover closely related to job satisfaction is the organisational
commitment attitude. It involves

the employees loyalty to the organizational and is

determined by a number of personal, organizational, and non organizational variables.

Commitment has been conceived as having three components: effective, continuance
and normative. In the same way job satisfaction, the organizational commitment has
mixed results but in general it is thought to have stronger relationship with
organizational outcomes such as employee turnover and absenteeism.

49

LIMITATIONS OF THE STUDY

The limitation of the study includes the weak points that are not covered during the
study. A person cant analyze all aspects of the study. Sometimes he forgot some factors
or sometimes he is not able to study the impact of these factors because of time
constraints or limited recourses.
TIME CONSTRAINT: time posed to be as a major hurdle in the study.
Many
things had to be left just because of time constraint.

LACK OF CO OPERATION : some employees resisted to answer to

questions
and to fill in the questionnaires
BIASNESS :some employees filled in the questionnaires without thinking
and were
afraid to give their original view point which introduced biasness in the study.
SECRECY : some of the information was kept confidential and was not
disclosed
LESS AWARENESS : less awareness among people resulted in a non
availability of
sufficient data.

50

QUESTIONNAIRE
NAME:
AGE:

SEX:

OCCUPATION:

PHONE NO.:

1. Are you satisfied with the nature of your work?

Extremely satisfied

satisfied

neutral

dissatisfied

extremely dissatisfied
2. Are you satisfied with your relationship with management?
strongly Satisfied

satisfied

neutral

Dissatisfied

strongly

dissatisfied
3. Are you satisfied with service orientation of the company?
strongly Satisfied

satisfied

neutral

Dissatisfied

strongly

dissatisfied
4. Do you agree with the time management of the company?
Strongly Agree

agree

neutral

disagree

strongly

disagree
5. Are you satisfied with your personal growth and development?
Satisfied

Dissatisfied

6. What are views regarding the system of performance appraisal?

Satisfied

Dissatisfied
51

7. What are your views regarding your working environment?

satisfied

Not satisfied

cant say

8. What are your views regarding the future prospects of the company?

Achieving growth

not achieving growth

cant say

9. What are your views regarding the working of quality circles?

Good

fair

poor

10. What are your views regarding the ethics of organisation?

Very important

fairly important

neutral

not at all important

11. Suggestions:

Place:
Date:

52

not so important

BIBLIOGRAPHY
Books :
Gupta C.B. HRM
Cubo Rao HRM
Ashwathapa, P.M.&HRM Co. Ltd., NEW Delhi
Kothari C.R., Research methodology: New Delhi, Bangalore,
Calcutta, lucknow, Mumbai.
Divedi, HRD.
V.s.p.rao, HRM

Websites
www.hdfcbank.com
www.hr-guide.com
www.explorehr.com
www.google.com

53