International Journal of Economics, Commerce and Research (IJECR) ISSN 2250-0006 Vol.

3, Issue 1, Mar 2013, 119-128 TJPRC Pvt. Ltd.

STATUS OF LOCUS OF CONTROL AMONG PRIVATE BANK EMPLOYEES

S. POONGAVANAM Professor, Department of Management Studies, Ranippettai Engineering College, TK Thangal, Vellore, India

ABSTRACT
Locus of control is seen as spectrum from the individuals who have an internal Locus of control and belief in personal ability and efforts as major determinants of outcome, to individuals who have an external locus of control believe in luck, fate, high powers and task difficulty as major determinants of outcomes. It is important to note that people are not borne as internals or externals. People develop their locus of control as they grow; through learning experience. This paper deals with the status of Locus of Control among the private sector bank employees.

KEYWORDS: Internals, Externals, Powerful Others, Personal Variables, Job Related Factors INTRODUCTION
Locus of control (LOC) is a persons perception of the source of his or her fate. That is, the locus of control is the degree to which people believe they are master of their own fate. Individuals who believe that they control what happens to them are Internals or internally motivated and have an Internal Locus of Control. Those who believe that outside factors such as luck or chance controls their fate are Externals or externally motivated and have an External Locus of Control (Robins 2003). It is said that people who perform better in most employment situations generally possess a moderately strong internal rather than external locus of control. They tend to be more successful in their careers and earn more money than their external counterparts. Therefore, the control of outcomes can be perceived as located in ones own behaviours or skills or as residing in luck or chance (Rotter, 1966). According to Howell et al, internals are particularly well suited to leadership positions and other jobs requiring initiative, independent action, complex thinking and high motivation. Internals have also been found to be more satisfied with their jobs and cope better in stressful situations, and they are more motivated by performance-based reward systems (Andrisani & Nestel, 1976; Howell & Avolio, 1993; Spector, 1982). Similarly, the internals were found to be interested more in research and development, introducing new products more quickly than the competition as such, and making more drastic product line changes. Furthermore, internals tend to be more involved in their jobs, show greater satisfaction, cope better with stress, and rise to leadership positions more frequently than people who are externals (Anderson, 1997; Lefcourt et al., 1984). There were many research works in the developed countries on locus of control and its impact on various job related aspects of employees in different industries. But in India, such research works are limited, particularly in banking sector. In this scenario, here an attempt has been made to elicit the status of locus of control among private and public sector bank employees in India.

REVIEW OF LITERATURE
Nicole (1985) developed new internal-external (I-E) scale for French students. Four criteria were used for the construction of the scale: causal explanation, orientation of behavioral outcomes, situational contents, and control ideology. Questionnaires were administered to 200 male and female undergraduates in psychology. A principal-components analysis

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and a non-metric multidimensional scaling were used. The hypothesis of the unidimensionality of locus of control was confirmed in this study. King Albert, Hegland Susan, Galejs Irma (1986) investigated relationships among social/non-social and positive/negative locus of control. The Stephens-Delys Reinforcement Contingency Interview (SDRCI) and the Stanford Preschool Internality-Externality Scale (SPIES) were administered to 111 pre-schoolers. Children perceived more control over positive and social outcomes than over negative and non-social outcomes on both scales. No correlations were observed between social and non-social locus of control. Positive and negative locus of control was highly correlated on the SDRCI but not on the SPIES; however, positive/social and negative/nonsocial items were confounded on the SPIES. Results were interpreted as supporting independence of social/non-social locus of control but not of positive/negative locus of control for pre-school children. Browne Beverly, A., & Brown Daniel, J. (1993) studied the lottery gambling behavior of 288 American college students. Although most students were infrequent gamblers, it is found that student lottery gambling was related to parents and friends who were lottery gamblers. Students who were frequent lottery gamblers were more likely to participate in other forms of gambling and to have begun gambling at younger ages than less frequent gamblers. Locus of control was related to more frequent gambling among parents and only marginally related to more frequent lottery play among students. Klein Helen Altman, Tatone Carol, L., & Lindsay Noreen, B. (1989) explored the relationship of life satisfaction among military wives with the individual attitudinal and personality variables of perceived social support, locus of control, and temperament. Sixty wives of noncommissioned military personnel were selected as participants. Life satisfaction was found to be related to high levels of perceived social support from family and from friends, to an internal locus of control, and to low levels of emotionality-stress and emotionality-fear. Lewis Virginia, G., & Borders Dianne, L.(1995) examined ten factors and their relation to the life satisfaction of single middle-aged professional women. The proposed regression model, which included job satisfaction, gender identity, locus of control, social support, health, financial resources, leisure-time activities, sexual satisfaction, and regrets regarding life circumstances, were explored through a questionnaire. Questionnaires were administered to professional women in higher education institutions and responses were received from 152 women. Performance on life satisfaction was significantly explained by recourse to the variables of job satisfaction, internal locus of control, regrets regarding life circumstances, sexual satisfaction, and leisure-time activities.

OBJECTIVES
To identify the level of Locus on Control among bank employees. To identify the extent of variation in Locus of Control from certain clear categories of personal variables and job related characteristics. To offer viable suggestions to improve Locus of Control.

HYPOTHESES
There is no significant influence of personal variables on Locus of Control. There is no significant influence of job oriented factors on Locus of Control.

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METHODOLOGY
Survey method was adopted for the study and the study used both primary and secondary sources of data. The study covers four private sector banks in Vellore district. The banks selected for the study are:-HDFC Banks, ICICI Banks Ltd, Karur Vysya Bank Ltd and Axis Bank. The sample respondents were selected from private sector banks situated in Vellore district. Random sampling was adopted to choose the desired sample size. Employees were stratified into Officers and Managers and the respondents 99 (80 officers and 19 managers) were selected from the selected private sector banks. The distribution of selected sample respondents is given in the following table: Table 1: Sample Distribution Sl. No. 1 2 3 4 Total Name of Bank HDFC Bank ICICI Bank Ltd. Karur Vysya Bank Ltd. Axis Bank Sector Private Private Private Private Manager 4 2 10 3 19 Officers 17 27 15 21 80 Total 21 29 25 24 99

INSTRUMENTATION
In this study the standard tool developed by Terry Pettijohn was used to find out the Locus of Control among the employees of private sector banks situated in Vellore district. The questionnaire consisted of two parts. In the first part certain background data were sought in order to identify the personal and job related variables. In the second part each respondent was asked to respond to the 20 statement pertinent to locus of control, using the Likert type 5 point scoring system ranging from strongly agree to strongly disagree.

TOOLS USED FOR ANALYSIS

The primary data collected from randomly selected public and private sector employees were subjected to statistical analysis from descriptive to non-parametric Kruskal Wallis ANOVA. Apart from the above two tests, parametric tests such as One-Way ANOVA for comparing mean perception scores of more than two groups and t-test for comparing the mean perception scores between private and public sector employees are also used in the present study.

RELIABILITY AND VALIDITY TEST

The status of locus of control among bank employees was measured using 20 statements in the questionnaire. The respondents were asked to indicate their degree of agreement with each statement, using a 5-point Likert scale ranging from 1 for strongly disagree to 5 for strongly agree and 2 for disagree, 3 for no opinion (neither agree nor disagree) and 4 for agree in between. The reliability (internal consistency) of the scale items measuring locus of control is first examined with Cronbachs alpha reliability coefficient. Cronbachs alpha ranges from zero to one, with value zero indicating complete unreliability and value one indicating perfect reliability. Each items correlation with total scores as well as alpha if deleted is also calculated in order to identify the consistency of each item in the measurement scale. Further, Cronbachs alpha reliability coefficient of the locus of control measurement scale items is 0.9290 and near to one, revealing that there has been high degree of internal consistency among 20 items in the scale measuring locus of control of bank employees. Hence, it is found that the scale items measuring locus of control

measurement are highly reliable, internally consistent and the collected data can be used for subsequent analysis. To

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examine the validity and dimensionality in the locus of control, principal component factor analysis with varimax rotation is applied.

ANALYSIS AND FINDINGS

The scores of items for each factor are averaged and average scores are used in the empirical analysis for findings the status of locus of control among bank employees on the whole as well as by sectors and also for identifying the influence of personal and job characteristics variables on the locus of control. The results of the analysis are tabulated and discussed in detail in the following part of this chapter. The level of Internality, Externality chance, and Externality powerful others of locus of control among Public, Private and All Bank employees, is evaluated based on the respondents mean perception scores, which are presented in Table 4. Table 2: Status of Locus of Control among Bank Employees Dimensions of Locus of Control N Mean SD Z Value Private Sector Banks Internality 99 3.57 0.74 7.64*** Externality Chance 99 3.67 0.67 9.98*** Externality Powerful Others 99 3.82 0.81 10.09*** Z Table Value @ 10% = 1.64, @5% = 1.96 and @1% = 2.57 ***Significant at 1% level. From table, it can be observed that the mean scores vary from 3.57 to 3.82 for private sector bank employees. The mean score is found to be beyond 3, the value for neutral (neither agree nor disagree level) for all dimensions of locus of control. Z values are calculated for ascertaining the significance of the difference between observed mean score and hypothetical value, 3. It is evident that all Z values are significant highly at 1 per cent level. From the significant Z values, and the mean score above 3, it is confirmed that there exists internality, chance externality and powerful other externality of locus of control private bank employees.

EFFECT OF PERSONAL-JOB CHARACTERISTICS ON LOC PRIVATE SECTOR BANKS

The influence of personal characteristics and job oriented factors on locus of control tendencies due to internality, chance externality and powerful other externality factors among private sector bank employees is tested in this section. Table 3 depicts results of the analysis comparing the internality of the locus of control among Private sector bank employees across categories by personal characteristics. Perusal of the table shows that the mean perception is above 3, the value for neutral level as the mean scores ranges from 3.36 to 3.80 across categories. Perusal of the mean scores further reveals that the level of internality of the locus of control is higher among younger (aged up to 25 years Mean = 3.78), female (Mean = 3.74), unmarried (Mean = 3.67), post-graduate (Mean = 3.68) employees and also among employees from families with 4-6 (Mean = 3.80) and above 6 (Mean = 3.78) dependents. Table 3: Effect of Personal Variables on Locus of Control Internality for Private Sector Bank Employees Personal Variables Up to 25 26 - 35 Age (Years) 36 - 45 Above 45 Male Sex Female Married Marital status Unmarried N 22 40 20 17 75 24 46 53 Mean 3.78 3.48 3.68 3.39 3.52 3.74 3.46 3.67 Rank Sum 1291.0 1866.5 1065.5 727.0 3590.0 1360.0 2104.5 2845.5 Kruskal- Wallis H P Value 3.90 0.27

1.71 1.89

0.19 0.17

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Table 3: Contd., Graduate 49 3.51 Education Post Graduate 35 3.68 Higher to PG 15 3.53 Up to 3 members 76 3.50 Family Size 4 6 members 23 3.80 Above 6 members 22 3.78 Source: Primary Data. *Significant at 10% Level

2316.5 1915.5 718.0 3599.5 1350.5 1291.0

1.48

0.48

2.77*

0.10

However, the KW H value is significant only for respondent categories by family size (H = 2.77, p < 0.10). So, it is found that internality of locus of control among private sector bank employees is influenced by family size and independent of sex, marital status, and education. Table 4: Effect of Job Oriented Factors on Locus of Control Internality for Private Sector Bank Employees Job Related Factors N Managers 19 Designation Officers 80 Up to Rs.20000 50 Monthly Income Rs.20000-30000 35 Above Rs.30000 14 Up to 5 Years 41 6 - 10 Years 30 Experience in Present Position 11 - 15 Years 28 > 15 Years 30 Up to 5 Years 12 6 - 10 Years 34 Bank Experience 11 - 15 Years 23 > 15 Years 22 Mutual Fund 36 Nature of work Insurance 41 Banking 19 Source: Primary Data. **Significant at 5% Level. Mean 3.93 3.48 3.52 3.67 3.51 3.57 3.53 3.62 3.51 3.78 3.52 3.62 3.76 3.58 3.46 3.93 Rank Sum 1214.0 3736.0 2407.5 1887.5 655.0 2074.5 1427.5 1448.0 1457.0 695.5 1602.5 1195.0 1230.0 1840.5 1879.5 1214.0 Kruskal- Wallis H 5.52** P Value 0.02

1.04

0.59

0.33

0.85

1.45

0.69

1.85

0.40

Table 4 presents the results KW-test statistic for the association between job oriented variables and internality of locus of control among private sector bank employees. According to table, the level of internality of the locus of control differ between managers and officers working in private banks (H = 5.52, p < 0.05). On the other hand, the above locus of control does not differ by income, experience in present position, experience in bank and nature of work. The above picture has revealed that the level of internality of the locus of control among private sector bank employees differ significantly between managers and officers, but it is unrelated to their income, experience in present position, bank experience and nature of work. The relationship between personal characteristics on chance externality of the locus of control among private sector bank employees is analyzed and the results of the analysis are presented in Table 5. An examination of the table shows that the chance externality of the locus of control is almost similar for respondent categories by age, sex and family size as the H value is very small and insignificant. The level of chance externality of the LOC is found to be more among unmarried (Mean = 3.76) and higher educated (Mean = 3.84) employees. But, the above differences are likely due to sampling error as KW test statistic H values are insignificant for marital status and education also.

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Table 5: Effect of Personal Variables on Locus of Control Externality (Chance) for Private Sector Bank Employees Personal Variables Up to 25 26 - 35 Age (Years) 36 - 45 Above 45 Male Sex Female Married Marital Status Unmarried Graduate Education Post Graduate Higher to PG Up to 3 members Family 4 6 members Size Above 6 members Source: Primary Data N 22 40 20 17 75 24 46 53 49 35 15 76 23 22 Mean 3.70 3.70 3.63 3.61 3.65 3.73 3.57 3.76 3.64 3.64 3.84 3.64 3.76 3.70 Rank Sum 1164.5 2043.0 945.5 797.0 3689.0 1261.0 2072.0 2878.0 2372.5 1746.0 831.5 3738.0 1212.0 1164.5 Kruskal- Wallis H 0.67 P Value 0.88

0.25 2.57

0.62 0.11

0.69

0.71

0.27

0.61

So, overall from the inferences of the above results, it is found that the level of chance externality of the locus of control is not influenced by personal characteristics in the case of private sector employees. Table 4.14 presents the results pertaining to the status of relationship between job related factors and chance externality of the locus of control among private sector bank employees. Table 6: Effect of Job Oriented Factors on Locus of Control Externality(Chance) for Private Sector Bank Employees Job Related Factors Managers Designation Officers Up to Rs.20000 Monthly Income Rs.20000-30000 Above Rs.30000 Up to 5 Years 6 - 10 Years Experience in Present Position 11 - 15 Years > 15 Years Up to 5 Years 6 - 10 Years Bank Experience 11 - 15 Years > 15 Years Mutual Fund Nature of work Insurance Banking Source: Primary Data. **Significant at 5% Level N 19 80 50 35 14 41 30 28 30 12 34 23 22 36 41 19 Mean 3.78 3.64 3.62 3.82 3.49 3.75 3.66 3.58 3.75 3.77 3.66 3.53 3.82 3.42 3.80 3.78 Rank Sum 1029.0 3921.0 2433.5 1935.0 581.5 2227.5 1452.5 1270.0 1632.0 658.5 1650.5 1009.0 1249.5 1418.0 2282.5 1029.0 Kruskal- Wallis H P Value 0.50 0.48

2.52

0.28

1.76

0.41

2.20

0.53

7.79**

0.02

It can be observed from table that there is no significant difference in the level of chance externality of the locus of control between managers and officers as mean scores are almost same (H is very small at 0.50). But it is found to be higher among private sector bank employees with monthly income between Rs.20000-30000 (Mean = 3.82), above 15 years of experience in the present position (Mean = 3.75) as well as in the bank (Mean = 3.82). It can also be observed that the level of chance externality of the LOC among the private bank employees with mutual fund as nature of work (Mean = 3.42) is less than that of their other two counterparts. At the same time H value is significant only for nature of work (H = 7.79, p < 0.05). This in turn have revealed that the level of chance externality of locus of control among private sector bank employees is independent of their designation, income, experience in present position, experience in bank, but it

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differ significantly by nature of work. The level of powerful other externality of the locus of control is compared across categories by age, sex, marital status, education and family size for private sector bank employees and the results of the comparative analysis are presented in Table 7. It can be observed from table that the powerful other externality of the locus of control is almost similar between male and female employees in private sector banks (Mean = 3.80 & 3.89 and H value = 0.57). But, it seems that the powerful other externality of the locus of control is more for employees aged between 26 35 years (Mean = 3.90), post graduates (Mean = 3.95) and for employee groups with dependent of 4-6 members (Mean = 4.00). Though there seems to be difference in the level of locus of control due to powerful other external factors across categories by age, marital status, education and family size, the differences are likely due to chance (sampling error) as the obtained H values for the above variables are insignificant statistically. Table 7: Effect of Personal Variables on Locus of Control Externality (Powerful Others) for Private Sector Bank Employees Personal Variables Up to 25 26 35 Age (Years) 36 45 Above 45 Male Sex Female Married Marital Status Unmarried Graduate Education Post Graduate Higher to PG Up to 3 members Family Size 4 6 members Above 6 members Source: Primary Data N 22 40 20 17 75 24 46 53 49 35 15 76 23 22 Mean 3.74 3.90 3.76 3.79 3.80 3.89 3.76 3.87 3.77 3.95 3.67 3.76 4.00 3.74 Rank Sum 1053.0 2111.5 956.5 829.0 3658.0 1292.0 2201.0 2749.0 2349.0 1937.0 664.0 3625.5 1324.5 1053.0 Kruskal- Wallis H P Value 0.65 0.88

0.57 0.49

0.45 0.48

2.09

0.35

2.12

0.15

So, it is found that there is no relationship between personal characteristics and the level of powerful other externality of the locus of control of the private sector bank employees. The results of the analysis comparing the level of locus of control tendencies towards powerful other externals across categories by job characteristics of private sector bank employees are depicted in Table 8 Table 8: Effect of Job Oriented Factors on Locus of Control Externality (Powerful Others) for Private Sector Bank Employees Job Related Factors N Mean Rank Sum Kruskal- Wallis H P Value Managers 19 3.93 1024.5 0.44 0.51 Designation Officers 80 3.79 3925.5 Up to Rs.20000 50 3.80 2530.5 Monthly Income Rs.20000-30000 35 3.89 1789.5 0.51 0.78 Above Rs.30000 14 3.71 630.0 Up to 5 Years 41 3.91 2186.0 6 - 10 Years 30 3.88 1597.5 3.33 0.19 Experience in Present Position 11 - 15 Years 28 3.61 1166.5 > 15 Years 30 3.93 1633.5 Up to 5 Years 12 4.06 709.5 6 - 10 Years 34 3.85 1695.5 4.99 0.17 Bank Experience 11 - 15 Years 23 3.49 911.5 > 15 Years 22 3.92 1144.0 Mutual Fund 36 3.56 1524.0 Nature of work Insurance 41 3.99 2282.0 4.31 0.12 Banking 19 3.93 1024.5 Source: Primary Data

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An examination of the table indicates that the level of powerful other externality of the locus of control is not affected by the designation, income, experience in the present position, experience in banking service and nature of work as the H values for the difference in rank sums are insignificant. Hence, it is concluded that there is no impact of job related factors on the level of powerful other externality of locus of control among private sector bank employees.

SUGGESTIONS
Self awareness programmes must be given to employees to develop right mental attitude towards their job/colleagues and the company. Syndicate training must given to existing employee to update their knowledge and encourage them to take higher responsibility. In-basket techniques can be used to develop the managerial decision making skills. Trainees must be analyzed and critiqued on the number of decision made in the time allotted, the quality of decision and the priorities chosen for making them. Short exercise can be used to illustrate benefits of good and bad team work and to mould new employees attitude regarding good team work. Outward bound program is the best program used by many corporate to build team work. This training helps the employee to learn team spirit and co-operation and the need to trust and rely on each other by overcoming physical obstacles. Behavior modeling approach begins by identifying the interpersonal problems that employees and manager face. i.e.., gaining acceptance as a new supervisor, handling discrimination complaints, delegating responsibility, improving attendance, disciplining effectively, overcoming resistance to change, setting performance goals, motivating average performance, handling emotional situation, reducing tardiness. Behavior modeling appears to offer some promise for developing leadership skills. Banks have to tie up with management institution to enable its employee to register and pursue various courses for improvement of qualification.

CONCLUSIONS
From inferences of the results of the analysis, it is concluded that the locus of control among bank employees consists of three broad aspects, namely internality, chance externality and powerful other externality. When considered bank employees on the whole, the locus of control tendencies, whether it is related to internality, chance externality or powerful other externality, are at notable level. It is concluded that marital status has significant influence on the internality locus of control and chance externality locus of control, while age has remarkable influence on other externality locus of control. On the other hand, all aspects of locus of control tendencies (internality, chance externality and powerful other externality) among bank employees differ significantly by their income.

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