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is an important goal for organizations to reach as it has been shown

that profitability, productivity, employee retention, and customer satisfaction are
linked to employee satisfaction.´

JOB SATISFACTION
The term Job satisfaction refers to an individual's general attitude towards his or
her job. A person with a high level of job satisfaction holds positive attitude
towards the job, while a person who is dissatisfied with his or her job holds
negative attitude about the job.

In simple words job satisfaction is:-

Job Satisfaction describes how content an individual is with his or her job. There
are a variety of factors that can influence a person's level of Job satisfaction; some
of these factors are:-

‡ Include the level of pay and benefits,

‡ The perceived fairness of the promotion system within a company,
‡ The level of pay and benefits,
‡ Leadership and social relationships,
‡ The job itself.
4
 



 



In my point of view, study of "Employee satisfaction" helps the company to
maintain a standard & increase productivity by motivating the employees.
This study tells us how much the employees are capable & their interest at work
place? What are the things still to be satisfy to the employees. Although "human
resource" is the most important resources for any organization, so to study on
employee¶s satisfaction helps to know the working conditions & what are the
things that affect them not to work properly. Always majority of done by the
machines/equipments but without any manual moments nothing can be done. So to
study on employee satisfaction is necessary.

     

Although committed and loyal employees are the most influential factor to
becoming an employer of choice, it's no surprise that companies and organizations
face significant challenges in developing energized and engaged workforces.
However, there is plenty of research to show that increased employee commitment
and trust in leadership can positively impact the company's bottom line. In fact, the
true potential of an organization can only be realized when the productivity level of
all individuals and teams are fully aligned, committed and energized to
successfully accomplish the goals of the organization.

As a result, the goal of every company should be to improve the desire of

employees to stay in the relationship they have with the company. When
companies understand and manage employee loyalty - rather than retention
specifically - they can reap benefits on both sides of the balance sheet i.e. revenues
and costs.
On the revenue side of the balance sheet, loyal and committed employees are more
likely to go "above and beyond" to meet customer needs and are highly motivated
to work to the best of their ability. Both of these traits are crucial for continued
customer commitment and ongoing revenue and growth for the company.

On the cost side, loyal employees stay longer, resist competitive job offers, and do
not actively look for other employment and recommend the company to others as a
good place to work. These four behaviors positively influence the cost side of the
balance sheet because they are leading indicators of employee retention. The
longer companies keep their employees, the longer they can avoid having to pay to
replace them.

In other words, rather than focusing only on retention (that is, trying to retain
employees who have already decided to leave), organizations should proactively
recognize the benefits of understanding, managing and improving employee
loyalty. The most successful organizations are those that can adapt their
organizational behavior to the realities of the current work environment where
success is dependent upon innovation, creativity and flexibility. Additionally, the
dynamics of the work environment have to reflect a very diverse population
comprised of individuals whose motivations, beliefs and value structures differ
vastly from the past and from each another. Arguably, the most valuable, but also
volatile, corporate asset is a stable workforce of competent, dedicated employees,
since such an employee base gives companies a powerful advantage; depth of
knowledge and organizational strength.
One of the key steps to understanding and improving employee loyalty is by
Acknowledging the importance of the following factors in building loyalty and
satisfaction:

`m Broadly-defined responsibilities rather than narrowly-defined job functions

`m Effective and regular performance evaluations, both formally and informally
`m A corporate emphasis on employee learning, development and growth
`m Wide-ranging employee participation in the organization as a whole

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

current job. Contributing factors include satisfying work, a sense of job security,
clear opportunities for advancement, a compelling corporate mission combined
with the ability to contribute to the organization's success, and a feeling that their
skills are being effectively used and challenged. Specifically, employees who
enjoy their work identify themselves with their employer and perceive that the
company is flexible regarding work and family issues also intend to stay with the
organization.

Today, employee loyalty needs to be earned, rather than assumed, and must be
specific, rather than general - employees are looking at their employment as a
means of achieving personal goals rather than simply being the "good corporate
soldier" of the past. This means that companies need to express and act on a
commitment to develop employees' career objectives by introducing initiatives that
make employees believe that their current job is the best path to achieving their
career goals.
In particular, consider the following elements of effective strategies designed to
build loyalty and retain key employees:
`m Include opportunities for personal growth and invest heavily in the
professional development of the best people in the organization.
`m Èrovide employees with well-defined career paths (including a
succession plan), mentors and tuition reimbursement for job-related
education.
`m Train employees, even if it makes them more attractive to the
competition.
`m Without seeing an opportunity on the horizon, few high potential
employees will stay with a company and allow themselves to grow
stagnant.
`m Acknowledge non-work priorities by recognizing and responding to
employees' needs for greater balance in their lives, since employees will
develop loyalty for organizations that respect them as individuals, not
just as workers.









 

   
 


    

  
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`m   $ %&' No one wants to do the same boring job over and over,
day after day. Although any job will require some repetitive tasks, all jobs
should include at least some parts that are of high interest to employees.

`m 
' Information is power and employees want to have the

information they need to know to do their jobs better and more effectively.
And, more than ever, employees want to know how they are doing in their
jobs and how the company is performing overall. It is vitally important to
open the channels of communication in an organization to allow employees
to be informed, ask questions, and share information and to inspire them to
share the vision of the company.

`m    ' ±anagers today are faced with an incredible number of

opportunities and problems and, as the speed of business continues to
increase, the amount of time that they have to make decisions continues to
decrease. Involving employees in decision-making, especially when the
decisions affect them directly, is both respectful and practical. Not only do
those closest to the problem typically have the best insight as to what to do,
involving them in decision-making will increase their commitment and
improve the success of implementing new ideas or change. Similarly,
management needs to follow through on promises and live the values they
preach.

`m     ' Few employees want their every action to be closely

monitored. ±ost employees appreciate having the flexibility to do their jobs
 as they see fit. Giving employees latitude increases the chance that they will
perform as desired, as well as bringing additional initiative, ideas, and
energy to their jobs. Employees also need to be encouraged to achieve their
best potential.

(     (#

)* + , (#
According to this theory a person is satisfied when he gets training from his Job
what he wants. The more he wants something or the more important it is to him,
the more satisfied he is when he received it. In other words, ³Job Satisfaction will
vary directly with the extent to which those needs of an individual which can be
satisfied are actually satisfied. Vroom views satisfaction in terms of the positively
valued outcomes that a job provides to a person. Thus, job satisfaction is positively
related to the degree to which one¶s needs are fulfilled. The fulfillment theory
suffers from a major drawback. Satisfaction is a function of not only what a person
receives but what he feels he should receive.

-* ., (#
Under this theory, it is believed that a person¶s job satisfaction depends upon his
perceived equity as determined by his input- output balance in comparison with the
input output balance of others. Every individual compares his rewards with those
of a µreference group¶. If he feels his rewards are equitable in comparison with
others doing similar work, he feels satisfied. Job Satisfaction is thus a function of
the degree to which job characteristics meet the desires of the reference group. For
example, one study of the effects of community features on job satisfaction
revealed that workers living in a well to a neighborhood felt less satisfied than
those living in poor neighborhood.
o* 4 ( (#
Frederick Herzberg and his colleagues developed the two factor theory satisfaction.
According to this theory satisfaction and dissatisfaction are interdependent of each
other and exist on a separate continuum. One set of factors known as hygiene
factors (Company policy, administration, supervision, pay, working conditions and
interpersonal relations) act as dissatisfies. Their absence cause dissatisfaction but
their present does not result in positive satisfaction. The other set of factors known
as satisfiers (achievements, advancement, recognition, work itself and
responsibility) lead to satisfaction.
Several studies designed to test the two factor theory provide little support to this
theory. The same factor may serve as a satisfier for one but a dissatisfied for
another. It appears from this theory that a person can be satisfied and dissatisfied at
the same time.

4) + ( (#
According to this theory job satisfaction depends upon what a person actually
receives from his job and what he expects to receive. When the reward actually
received is less than the expected rewards it causes dissatisfaction. In the words of
Locke, ³Job Satisfaction and dissatisfaction are function of perceived relationship
between what one wants from one¶s job and what one perceive it is actually
offering. In other words, satisfaction is the difference between what one actually
received and what he feels he should receive. This theory fails to reveal whether
over-satisfaction is or is not a dimension of dissatisfaction and if so , how does it
dissatisfaction arising out of the situation when received outcomes are less than the
outcomes one feels he should receive.
* ., + ( (#
This is a combination of equity and discrepancy theories. Lawler¶s he adopted the
difference approach of discrepancy theory rather than the ratio approach of equity
theory. From equity theory the concept of comparison has been selected to serve as
an intervening variable. Under this theory satisfaction is defined as the difference
between the outcomes that one perceives he actually received and outcomes that
one feels he should receives in comparison with others. When the individual feels
that what he actually received is equal what he perceives he should receive there is
satisfaction. Thus an individual¶s reception of his reward is influenced by more
than just the objective amount of that factor. Because of this psychological
influence the same amount of reward after can be seen quite differently by two
people, to one it can be a large amount, while to another person it can be a small
amount.

/*  (( 0(, (#

Reference group defines the way an individual looks at the world. According to
this theory job satisfaction occurs when the job meet the interest , desires and
requirements of a person¶s reference group. In other words, job satisfaction is a
function of the degree to which the job meets the approval of the group to which
the individual looks for guidance in evaluating the world and defining social
reality. The social reference group theory is similar to the need fulfillment theory
except than it takes into account not the desires, needs and interests of the given
individual but rather the point of view and the opinion of the groups to whom the
individual looks for guidance.
 
 
  
 
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It has been observed that degree of job satisfaction of private sector banks was
found to be significantly lower than in public sector banks. At least two reasons
were found to be responsible for the low job satisfaction level of employees of
private sector banks. When data were analyzed, surprising results were found. In
the study, job satisfaction was measured by a tool developed by Sinha (1990). Job
satisfaction was measured on the basis of five variables. These are (i) pay, (ii)
work condition (for example, safety, heat, noise, and dust), (iii) service conditions
(for example, security, promotion, and welfare), (iv) relation with superiors, peers,
and workers, and (v) company as a whole. Among four variables, the degree of
difference is not noticeable. But low scores of the third variable, service
conditions, were found to be responsible for overall low degree job satisfaction in
private sector banks.

Employees of private sector banks perceive that their jobs are not secure. In fact,
the effect of an open economy, globalization, and privatization can be seen more
easily in private sector banks than in public sector banks. In private sector banks,
the environment in highly competitive and job security is based on performance
and various other factors. Though it is true that this environment provides a
challenging job profile, it also creates a less secure environment. Industriousness,
dedication, devotion, and commitment are not enough to secure a job. The high
level of performance of an individual is also based on various factors. These may
be market situation, existence of competitor, and government policies. Where these
factors are adverse in nature, performance automatically suffers. During this
period, employees feel insecure, this reduces overall job satisfaction.
In public sector banks, welfare policies are clearly defined and legally enforced.
Retirement, pensions, gratuity, and other related welfare policies are effectively
executed. So there is no problem with social security. In private sector banks,
welfare activities are neither well planned nor well executed. Employee turnover is
very high and job security is very low. ±ost employees are from middle class
Indian families. These employees have seen the golden period of public sectors and
government jobs during their growing stages. So the effect of welfare schemes of
government jobs and public sectors cannot be easily eradicated from their psyche.
Èrivate sector employees are ready to work hard but they demand pensions,
security, and sometimes an easy lifestyle. These findings in the banking sectors
could be extended to explain the job situation in other service sectors. In terms of
security, promotion, and welfare policy, there is a clear difference between public
and private sector employees. It was stated earlier that when we compare the job
satisfaction of employees in public and private sector banks or in other service
sectors, the public and private sectors become the main factor of comparison. In
India, the public or private sector factors neutralize all other factors of comparison.
For example, in India, a public sector insurance company like LIC will always be
preferred by a new entrant, if he has a choice.

(     +

(+,3
By providing amenities that make you¶re building a healthier and more
comfortable place to work, you can reduce employee absenteeism and turnover
while increasing productivity. Even small workplace improvements, such as
installing individual temperature and ventilation controls, improving the flow of
natural light and providing access to a roof garden, can have a big impact on your
company's bottom line.

The EÈA estimates that building-related illnesses account for $60 billion in annual
productivity lost nationwide. And according to a University of Wisconsin study,
tangible costs of hiring and retaining a new employee typically range between
$10,000 and $50,000 -- plus less quantifiable, but no less real, productivity costs as
employees adapt to the new work environment and cultivate relationships with
clients, coworkers, contractors, etc. With less absenteeism and greater employee
retention, your investments in green building features will quickly pay for
themselves.

`m In a 2004 survey of 719 building owners, developers, architects,

engineers and consultants, Turner Construction found that 91 percent
of executives involved with green buildings believed that the health
and well-being of their building occupants was greater.
`m By installing skylights, fluorescent light fixtures and additional
insulation to improve lighting and temperature control, VeriFone¶s
credit card verification facility in Costa ±esa, California, decreased
its energy consumption 59 percent, reduced employee absenteeism by
47 percent and boosted productivity by 5 percent to 7 percent.
At the headquarters of the West Bend ±utual Insurance Company in West Bend,
Wisconsin, green features including individual workstation controls for
temperature, airflow, lighting and noise contributed to a 15 percent increase in
claims processing per employee.


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NA±E: ««««««««««««««««.
DESIGNATION: ««««««««««««.
CO±ÈANY: ««««««««««««««.

Q.1 What is your gender.

`m ±ale Ɣ Female

Q.2 What department do you work in?

Ɣ ««««««««..

Q.3 How long has you worked for this company?

Ɣ««««««««..

Q.4 How do you like this job?

`m Like very much
`m like some what
`m Neutral
`m Dislike some what
`m dislike very much

Q.5 I am treated with respect by management and the people I work with.
Ɣ Strongly Disagree
Ɣ Disagree
Ɣ Undecided
Ɣ Agree
Ɣ Strongly Agree

Q.6 Is there any career enhancement opportunities and growth in this job?
Ɣ Yes Ɣ No

Q.7 How much do you participate in decision making?

`m 20%-30%
`m 30%-40%
`m 40%-50%
`m 50%-60%
`m above 60%
Q.8 Are you satisfied with you salary level?
`m Highly Unsatisfied
`m ±oderate
`m Satisfied Highly
`m Unsatisfied
`m Highly Satisfied

Q.9 ±anagement is flexible and understands the importance of balancing my work and
personal life.
Ɣ Strongly Disagree
Ɣ Disagree
Ɣ Undecided
Ɣ Agree
Ɣ Strongly Agree

Q.10 Are you agree with the company pay scale and bonus plans?
Ɣ Strongly Disagree
Ɣ Disagree
Ɣ Undecided
Ɣ Agree
Ɣ Strongly Agree

Q.11 Do you feel there is change require in your department

to improve working conditions?
Ɣ YES Ɣ NO

Q.12 Rank the following motivational factor according to you:-

( (8 9)  5*)  $ 
Ɣ Èromotion ««
Ɣ Reward and Recognition ««
Ɣ Achievement ««
Ɣ Higher authority and responsibility ««