International Research Journal , August 2010 ISSN- 0975-3486 RNI: RAJBIL 2009/30097 VOL I *ISSUE 11

Research PaperCommerce -U

QUALITY OF WORK LIFE IN ICICI BANK LTD, CHANDIGARH

August, 2010

123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890 123456789012345678901234567890121234567890123456789012345678901212345678901234567890123456789012123456789012345678901234567890

* Daljeet Kaur

* Research Scholar Deptt of Commerce, Punjabi University, Patiala.

A B S T R A C T The purpose of my paper is to gain an insight into current working life policies and practices of employees in ICICI Bank Ltd in Chandigarh. Several notable factors that influence qualities of work life are Fair Compensation, Safe and healthy working environment, adequate performance appraisal, career growth opportunities, Training & development etc. QWL provides for the balanced relationship among work, non- work and family aspects of life. In other words, family life and social life should not be strained by working hours including overtime work, work during inconvenient hours, business travel, transfers, vacations, etc.This paper is based on the information given by the Banks Employees and through questionnaire filled by the employees. INTRODUCTION Quality of Work Life (QWL) has become one of the most important issues these days in every organisation. Employees are the force that is behind every successful organisation. No organisation can become successful with technology only because for the use of technology also, organisations need to have strong work force. Quality of Work Life was the term actually introduced in the late 1960s. From that period till now the term is gaining more and more importance everywhere, at every work place. Initially quality of work life was focussing on the effects of employment on the general well being and the health of the workers. But now its focus has been changed.Every organisation need to give good environment to their workers including all financial and non financial incentives so that they can retain their employees for the longer period and for the achievement of the organisation goals.Quality of working. The factors that influence and decide the Quality of work life are: 1.Attitude 2. Environment 3. Opportunities 4. Nature of Job 5. People 6. Stress Level 7. Career Prospects 8. Challenges 9. Growth and Development 10. Risk Involved and Reward. At the end we can say that a happy and healthy employee will give better turnover, make good 28 and positively contribute to the decisions organizational goal. LITERATUREREVIEW:Hackman and Oldham (1976) drew attention to what they described as psychological growth needs as relevant to the consideration of Quality of working life. Several such needs were identified; Skill variety, Task Identity, Task significance, Autonomy and Feedback. They suggested that such needs have to be addressed if employees are to experience high quality of working life. Mirvis and Lawler (1984) suggested that Quality of working life was associated with satisfaction with wages, hours and working conditions, describing the basic elements of a good quality of work life as; safe work environment, equitable wages, equal employment opportunities and opportunities for advancement. Baba and Jamal (1991) listed what they described as typical indicators of quality of working life, including: job satisfaction, job involvement, work role ambiguity, work role conflict, work role overload, job stress, organizational commitment and turn-over intentions. Baba and Jamal also explored routinisation of job content, suggesting that this facet should be investigated as part of the concept of quality of working life.Sirgy et al.; (2001) suggested that the key factors in quality of working life are: Need satisfaction based on job requirements, Need satisfaction based on Work environment, Need satisfaction based on Supervisory behaviour, Need satisfaction based on Ancillary programmes, Organizational commitment. Overview of ICICI BANK :- ICICI Bank is Indias second-largest bank with total assets of Rs. 3,663.74 billion (US$ 76 billion) at September 30, 2009 and profit after tax Rs. 19.18 billion (US$ 398.8 million) for
,.M boSY ; q, ku

28

fjlpZ

,ukfyfll

International Research Journal , August 2010 ISSN- 0975-3486 RNI: RAJBIL 2009/30097 VOL I *ISSUE 11

the half year ended September 30, 2009. The Bank has a network of 1,563 branches and about 4,883 ATMs in India and presence in 18 countries.ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. OBJECTIVE OF STUDY :- The Objective of my study is to have an insight into the Quality of Work Life in the Branches of ICICI Bank Ltd in Chandigarh. Because of high pressure in the Banks due to recession employees are the worst sufferers. My purpose of the study is to know the satisfaction level of employees of ICICI bank Ltd. Is ICICI Bank providing good policies to employees regarding training, working conditions, performance appraisal etc or not. RESEARCH METHODOLOGY :- To achieve the Objectives of my study personal interviews were done as the mode of survey so that maximum information could be collected. Employees at various levels working in the Branches were interviewed and Questionnaire was filled up. The questionnaire was structured with open ended & close ended questions. FINDINGS :- In my study I have taken only front office employees working in the Branches of ICICI Bank Ltd in Chandigarh Region. With the personal interviews I came to know about lot of information regarding the banks policies and employees problems they are facing in the organisation. There are 6 Branches of ICICI Bank Ltd in Chandigarh Region. Sec 9 and Sec 35 Branch are the big branches with large customer base being the older ones. Manimajra Branch is on the second place And the new as well as small Branches are Sec 28, Sec 38 and Sec 46. These 3 branches have started functioning just two years back. Mainly the employees are on the level of Officer/ Senior Officer. Nearly 58% comes under this designation. Assistant managers are 34% and as the rank goes higher percentage also goes down, only 3% are Managers. There are 57% of the employees who are just 1-2 years old in the organisation. Only 31% of the employees are 3-5 years old and to my surprise I could not find any

employee who has spend more than 5 years in the Bank.55% of the employees are satisfied with the work environment of the organisation. Most of the employees are satisfied with Sanitation, Drinking water and Safety facilities.The major reason for dissatisfaction is that there is no facility of transportation provided to the employees. 56% of the employees are having fair and cordial relations with their supervisor and colleagues, only 10% says that they are having bad relations with their supervisor and peer group. Employees are not happy as they are not provided with Job Rotation. They just get fed up with the same routine for long time and moreover this also results in less learning. 68% says that there is no job rotation in the organisation. 69% of the employees says that they are provided training for their overall development and growth. And the best part here is that they do get there salary for that period also. Only 31% of the employees say that they would refer a friend to apply for the job in this Bank. This means that they are not happy in the organisation. The most alarming point that came into forefront is that 90% of the employees says that there is not enough growth opportunities in the organisation. It clearly means that whenever they will get good opportunity outside they will leave this organisation.During the interaction with the employees I got to know that there are no Health Camps and Yoga Camps being organised in the Bank for the employees. On the basis of the questionnaire I got to know that 66% of the employees feel that the management is not flexible with their social responsibilities. And only 18% says that they are satisfied with their jobs. CONCLUSION On the basis of my study I can say that employees of ICICI bank Ltd in Chandigarh Region are happy with the working conditions of the Bank. They feel that they are safe and secure in Bank. They feel that Bank should start their own transport facilities for the staff. However, the dissatisfaction among them is the less growth opportunities. They are not provided with extra care like health camps etc. They are not happy with the way performance appraisal is done and feel that there management is not flexible with their social responsibilities and hence they are less satisfied with their jobs.

R E F E R E N C E
1. Baba, VV and Jamal, M (1991) Routinisation of job context and job content as related to employees quality of working life: a study of psychiatric nurses. Journal of organisational behaviour. 12. 379-386. 2. Hackman J &Oldham G (1974) The Job Diagnostic Survey. New Haven: Yale University 3. Mirvis, P.H. and Lawler, E.E. (1984) Accounting for the Quality of Work Life. Journal of Occupational Behaviour, 197-212. 4. Sirgy, M. J., Efraty,, D., Siegel, P & Lee, D. (2001). A new measure of quality of work life (QoWL) based on need satisfaction and spillover theories. Social Indicators Research, 55, 241-302.

29

RESEARCH ANALYSIS AND EVALUATION