PROJECT TITLE

"A STUDY OF EMPLOYEE SATISFACTION OF HDFC BANK

A project report on

Prepared by : Varun Bawa

Acknowledgemen !
If words are considered to be signs of gratitude then let these words Convey the very same My sincere gratitude to HDFC BAN !roviding me with an o!!ortunity to wor" with BAN for

and giving

necessary directions on doing this !ro#ect to the best of my abilities$ I am grateful to all faculty members of my family and my friends who have hel!ed me in the successful com!letion of this !ro#ect$

CONTENTS Sr. No. 1 2 Subject Covered Banking Structure in India Indian Banking Industries !"co#ing $oreign Bank in India & + 6 7 8 9 1% 11 12 '($C B)N* Co#"an, Pro-i.e /ec0no.og, used Product and Custo#er seg#ents Business Strateg, Inside 'd-c Bank 1u"ee 2arned 3 1u"ee S"ent 1ecent (eve.o"#ent S45/ )na.,sis Page No. 6-7 8-9 1% 11-12 1 -1+ 16-19 2%-2 2&-2+ 26- 1 2&-&1 &2-&8

&

B)N*IN6 S/1!C/!12 IN IN(I)

Schedu ed Ban!" #n Ind#a

$A% Schedu ed Co&&erc#a Ban!" Pub #c "ector Ban!" Pr#'ate "ector Ban!" (ore#)n Ban!" #n Ind#a 7298 Re)#ona Rura Ban! 71%28

7288 7278 Nationa.i9ed 5.d Private Bank Banks 5t0er Pub.ic New Sector Banks Pr#'ate 7I(BI8 Ban!" SBI and its )ssociates

$B% Schedu ed Cooperat#'e Ban!" Schedu ed *rban Cooperat#'e Ban!" $++% Schedu ed State Cooperat#'e Ban!" $,-%

'

'ere :e #ore concerned about "rivate sector banks and co#"etition a#ong t0e#. /oda,; t0ere are 27 "rivate sector banks in t0e banking sector< 19 o.d "rivate sector banks and 8 ne: "rivate sector banks. /0ese ne: banks 0ave broug0t in state-o--t0e-art tec0no.og, and )ggressive., #arketed t0eir "roducts. /0e Pub.ic sector banks are $acing a sti-- co#"etition -ro# t0e ne: "rivate sector banks. /0e banks :0ic0 0ave been setu" in t0e 199%s under t0e guide.ines o- t0e Nara"#&ha& Co&&#ttee are re-erred to as N24 P1I=)/2 S2C/51 B)N*S.

New Pr#'ate Sector Ban!"

Su"erior $inancia. Services (esigned Innovative Products /a""ed ne: #arkets )ccessed >o: cost N1I -unds 6reater e--icienc,

IN.IAN BAN/IN0 IN.*STRIES

(

/0e Indian banking #arket is gro:ing at an astonis0ing rate; :it0 )ssets e?"ected to reac0 !S@1 tri..ion b, 2%1%. )n e?"anding econo#,; #idd.e c.ass; and tec0no.ogica. innovations are a.. contributing to t0is gro:t0.

/0e countr,As #idd.e c.ass accounts -or over

2% #i..ion "eo".e.

In corre.ation :it0 t0e gro:t0 o- t0e econo#,; rising inco#e .eve.s; increased standard o- .iving; and a--ordabi.it, o- banking "roducts are "ro#ising -actors -or continued e?"ansion.

/0e Indian banking Industr, is in t0e #idd.e o- an I/ revo.ution; $ocusing on t0e e?"ansion o- retai. and rura. banking.

P.a,ers are beco#ing increasing., custo#er - centric in

t0eir

a""roac0; :0ic0 0as resu.ted in innovative #et0ods o- o--ering ne: banking "roducts and services. Banks are no: rea.i9ing t0e

i#"ortance o- being a big ".a,er and are beginning to -ocus t0eir attention on #ergers and acBuisitions to take advantage oregu.ation.

econo#ies o- sca.e andCor co#"., :it0 Base. II

DIndian banking industr, assets are e?"ected to reac0 !S@1 tri..ion b, 2%1% and are "oised to receive a greater in-usion o- -oreign ca"ita.;E sa,s Prat0i#a 1ajan; ana.,st in Ce.entFs banking grou" and aut0or ot0e re"ort. D/0e banking industr, s0ou.d -ocus on 0aving a s#a..

nu#ber o- .arge ".a,ers t0at can co#"ete g.oba.., rat0er t0an 0aving a .arge nu#ber o- -rag#ented ".a,ers.G

!PC5HIN6 $512I6N B)N*S IN IN(I)

B, 2%%9 -e: #ore na#es is going to be added in t0e .ist o- -oreign banks in India. /0is is as an a-ter#at0 o- t0e sudden interest s0o:n b, 1eserve Bank o- India "aving road#a" -or -oreign banks in India

greater -reedo# in India. )#ong t0e# is t0e :or.dFs best "rivate bank

b, Euro1oney &a)a2#ne; S:it9er.andFs !BS.

/0e -o..o:ing are t0e .ist o- -oreign banks going to set u" business in India <1o,a. Bank o- Scot.and S:it9er.andFs !BS !S-based 62 Ca"ita. Credit Suisse 6rou" Industria. and Co##ercia. Bank o- C0ina

3E *N.ERSTAN. 4O*R 3ORL.

/0e 'ousing (eve.o"#ent $inance Cor"oration >i#ited 7'($C8 :as a#ongst t0e -irst to receive an 5#n pr#nc#p e5 a""rova. -ro# t0e 1eserve Bank o- India 71BI8 to set u" a bank in t0e "rivate sector; as "art o- t0e 1BIFs .ibera.i9ation o- t0e Indian Banking Industr, in 199&.
+

/0e bank :as incor"orated in )ugust 199& in t0e na#e o- F'($C Bank >i#itedF; :it0 its registered o--ice in Hu#bai; India. '($C Bank co##enced o"erations as a Sc0edu.ed Co##ercia. Bank in Ianuar, 199+.

'($C is IndiaFs "re#ier 0ousing -inance co#"an, and enjo,s an i#"eccab.e track record in India as :e.. as in internationa. #arkets. Since its ince"tion in 1977; t0e Cor"oration 0as #aintained a consistent and 0ea.t0, gro:t0 in its o"erations to re#ain t0e #arket .eader in #ortgages. Its outstanding .oan "ort-o.io covers :e.. over a #i..ion d:e..ing units. '($C 0as deve.o"ed signi-icant e?"ertise in

retai. #ortgage .oans to di--erent #arket seg#ents and a.so 0as a .arge cor"orate c.ient base -or its 0ousing re.ated credit -aci.ities. 4it0 its e?"erience in t0e -inancia. #arkets; a strong #arket

re"utation; .arge s0are0o.der base and uniBue consu#er -ranc0ise; '($C :as idea.., "ositioned to "ro#ote a bank in t0e Indian environ#ent.

'($C Bank began o"erations in 199+ :it0 a si#".e #ission < to be a 6 3or d C a"" Ind#an Ban!78 4e rea.i9ed t0at on., a sing.e #inded

-ocus on "roduct Bua.it, and service e?ce..ence :ou.d 0e." us get t0ere. /oda,; :e are "roud to sa, t0at :e are :e.. on our :a, to:ards t0at goa..

C5HP)NJ P15$I>2

STRON0 NATIONAL NET3OR/

1-

9.(C BAN/

HDFC ban" ltd !rovides various financial !roducts and services$ It o!erates In three segments. /etail Ban"ing0 1holesale Ban"ing0 and 2reasury$ 2he /etail ban"ing segment !rovides various de!osit !roducts0 including savings Accounts0 current accounts0 fi3ed de!osits0 and demat accounts$ It also offers Auto0 !ersonal0 commercial vehicle0 home0 gold0 and educational loans4 loans Against securities0 !ro!erty0 and rental receivables4 and health care finance

11

1or"ing ca!ital finance0 construction e5ui!ment finance0 and warehouse /ecei!t loans0 as well as credit cards0 debit cards0 de!ository0 investment Advisory0 bill !ayments0 and transactional services$ In addition0 this segment 6ells third !arty financial !roducts0 such as mutual funds and insurance0 as 1ell as distributes life and general insurance !roducts through its tie7u!s 1ith insurance com!anies and mutual fund houses$ 2he wholesale ban"ing 6egment !rovides loans0 non7fund facilities0 and transaction services to large Cor!orate0 emerging cor!orate0 small and medium enter!rise0 su!!ly chain0 8ublic sector underta"ing0 central and state government de!artments0 and Institutional customers$ It offers de!osit and transaction ban"ing !roducts0 6u!!ly chain financing0 wor"ing ca!ital and term finance0 agricultural loans0 And funded non7funded treasury0 and foreign e3change !roducts$ 2his segment9s services include trade services0 cash management0 and money Mar"et0 custodial0 ta3 collection0 and electronic ban"ing$ In addition0 it 8rovides corres!ondent ban" services to co7o!erative ban"s0 !rivate ban"s0 Foreign ban"s0 and regional rural ban"s4 and wealth management !roducts For non7resident Indians$ 2he 2reasury 6ervices segment o!erates !rimarily In areas0 such as foreign e3change0 money mar"et0 interest rate trading0 and :5uities$ As of M"#c$ %&' ())* HDFC ban" had a networ" of 101'% branches
1%

And &0%,( automated teller machines in (%+ cities in India $ 2he com!any was founded in 1,,' and is based in Mumbai 0 India $ KEY E+ECUTI,ES

M#- Ad. /" P0#. 0 (, Managing Director0 Director0 Member of Investors ;rievance <6hare= Committee0 Member of Fraud Monitoring Committee0 Member of 8remises Committee0 Member of Credit A!!roval Committee and Member of /is" Monitoring Committee M#- H"#.!$ Eng.nee#' )Head of 1holesale Ban"ing0 :3ec$ Director and Member of Customer 6ervice Committee M#- P"#e!$ S0k $"nk"#' ') Head of Credit0 Mar"et /is" > Investor /elations0 :3ec$ Director and Member of /is" Monitoring Committee M#- Dee1"k S- P"#.k$' )' :3ec$ Chairman M#- De2"3ee D"! 0
?80 2reasury

1arch :;;< C#t#ed Branche" AT1" ::> +,+ -,:,

1arch :;;= ,-< <>? -<;+

1arch :;;> ,:= =<-@==

1&

)s o- Harc0 1; 2%%8; t0e BankAs distribution net:ork :as at 761 Branc0es and 1977 )/Hs in 27 cities as against 68& branc0es and 1;6%+ )/Hs in 2% cities as o- Harc0 1; 2%%7. )gainst t0e regu.ator, a""rova.s -or ne: branc0es in 0and; t0e Bank e?"ects to -urt0er e?"and t0e branc0 net:ork b, around 1+% branc0es b, Iune %; 2%%8. (uring t0e ,ear; t0e Bank ste""ed u" retai. custo#er acBuisition :it0 de"osit accounts increasing -ro# 6.2 #i..ion to 8.7 #i..ion and tota. cards issued 7debit and credit cards8 increasing -ro# 7 #i..ion to 9.2 #i..ion. 40i.st credit gro:t0 in t0e banking s,ste# s.o:ed do:n to about 22K -or t0e ,ear ended 2%%7-%8; t0e BankAs net advances gre: b, +.1K :it0 retai. advances gro:ing b, 8.6K and :0o.esa.e

advances gro:ing b, %K; i#".,ing a 0ig0er #arket s0are in bot0 seg#ents. /0e transactiona. banking business a.so registered 0ea.t0, gro:t0 4it0 cas0 #anage#ent vo.u#es increased b, around 8%K and trade services vo.u#es b, around &%K over t0e "revious ,ear.

1'

Port-o.io Bua.it, as o- Harc0 1; 2%%8 re#ained 0ea.t0, :it0 gross non"er-or#ing assets at 1. K and net non-"er-or#ing assets at %.&K o- tota. custo#er assets. /0e BankAs "rovisioning "o.icies -or s"eci-ic .oan .oss "rovisions re#ained 0ig0er t0an regu.ator, reBuire#ents.

TEC9NOLO04 *SE. IN 9.(C BAN/

In t0e era o- g.oba.i9ation eac0 and ever, sector -aced t0e sti-co#"etition -ro# t0eir riva.s. )nd :or.d a.so converted into t0e -.at -ro# t0e g.obe. )-ter t0e "o.ic, o- .ibera.i9ation and 1BI initiatives to take t0e ste" -or t0e "rivate sector banks; #ore and #ore c0anges are taking t0e "art into it. )nd t0ere are create co#"etition bet:een t0e "rivate sector banks and "ub.ic sector bank.

1(

Private sector banks are toda, used t0e .atest tec0no.og, -or t0e di--erent transaction o- da, to da, banking .i-e. )s :e kno: t0at In-or#ation /ec0no.og, ".a,s t0e vita. ro.e in t0e eac0 and ever, industries and gives t0e o"ti#u# return -ro# t0e .i#ited resources. Banks are service industries and toda, I/ gives t0e innovative /ec0no.og, a"".ication to Banking industries. '($C B)N* is t0e .eader in t0e industries and toda, I/ and '($C B)N* toget0er co#bined t0e, reac0ed t0e sk,. Ne: tec0no.og, c0anged t0e #ind ot0e custo#ers and c0anged t0e Bueue conce"t -ro# t0e 0istor, banking transaction. /oda, t0ere are di--erent c0anne.s are avai.ab.e -or t0e banking transactions. 4e can see t0at t0e 0o: tec0no.og, gives t0e best resu.ts in t0e be.o: diagra#. /0ere are drastica.., c0anges seen in t0e use oInternet banking; in a ,ear 2%%1 72K8 and in t0e ,ear 2%%8 7 2+K8. /0ese t,"e o- tec0no.og, gives t0e -reedo# to retai. custo#ers.

Centra.i9ed Processing !nits 2.ectronic Straig0t Processing /0roug0

(erived 2cono#ies oSca.e 1educed /ransaction Cost

1)

(ata 4are0ousing ; C1H Innovative )"".ication /ec0no.og,

I#"rove cost e--icienc,; Cross se.. Provide ne: or su"erior "roducts

'($C B)N* is t0e ver, consistent ".a,er in t0e Ne: "rivate sector banks. Ne: "rivate sector banks to :it0stand t0e co#"etition -ro# "ub.ic sector banks ca#e u" :it0 innovative "roducts and su"erior service.

:;;Branche" ?,A AT1 ?;A Phone Ban!#n) -?A Internet :A 1ob# e -A

1*

:;;+
Branche" -=A AT1 ?+A Phone Ban!#n) -:A Internet :+A 1ob# e -A

7 K custo#er initiated /ransaction b, C0anne. 8

9.(C BAN/ PRO.*CT AN. C*STO1ER SE01ENTS

PERSONAL BAN/IN0
Lo"n P#od0c Auto @oan @oan Against 6ecurity De1o!. P#od0c 6aving aAc Current aAc Fi3ed de!osit In4e! men 5 In!0#"nce Mutual Fund Bonds nowledge Centre
1+

 @oan Against 8ro!erty 8ersonal loan Credit card %7wheeler loan Commercial vehicles finance Home loans /etail business ban"ing 2ractor loan 1or"ing Ca!ital Finance Construction :5ui!ment Finance Health Care Finance :ducation @oan ;old @oan C"#d! Credit Card Debit Card 8re!aid Card

Demat aAc 6afe De!osit @oc"ers

Insurance ;eneral and Health Insurance :5uity and Derivatives Mudra ;old Bar

P"/men Se#4.ce! Net6afe Merchant 8re!aid /efill Bill!ay ?isa Bill!ay Insta8ay Direct8ay ?isaMoney 2ransfer eBMonies :lectronic Funds 2ransfer Cnline 8ayment of Direct 2a3

Acce!! To B"nk NetBan"ing Cne?iew InstaAlert MobileBan"ing A2M 8hone Ban"ing :mail 6tatements Branch Networ"

77777777777777777777777777777777 Fo#e6 Se#4.ce! 77777777777777777777777777777777 8roduct > 6ervices 2rade 6ervices Fore3 service Branch @ocater /BI ;uidelines

1,

39OLESALE BAN/IN0
Corporate $unded Services Non $unded Services =a.ue )dded Services Internet Banking S&a and 1ed#u& Enterpr#"e" $unded Services Non $unded Services S"ecia.i9ed Services =a.ue added services Internet Banking (#nanc#a In"t#tut#on" and Tru"t" BAN/S C.earing SubHe#bers0i" 1/6S 3 sub#e#bers0i" $und /rans-er )/H /ie-u"s Cor"orate Sa.ar, aCc /a? Co..ection (#nanc#a In"t#tut#on" 1utua (und" Stoc! Bro!er" In"urance Co&pan#e"
%-

Co&&od#t#e" Bu"#ne"" Tru"t"

BUSINESS MI+

To "l De1o!. !

7#o!! Ad4"nce!

Ne 8e4en0e

Reta#

3ho e"a e

'($C Bank is a consistent ".a,er in t0e "rivate sector bank and 0ave a :e.. ba.anced "roduct and business #i? in t0e Indian as :e.. as overseas #arkets.

%1

 Custo#er seg#ents 7retai. L :0o.esa.e8 account -or 8&K o- Net revenues 7 $J 2%%88 'ig0er retai. revenues "art., o--set b, 0ig0er o"erating and credit costs.

2Bua.., :e.. "ositioned to gro: bot0 seg#ents.

NRI SERVICES
Account" B .epo"#t" 1u"ee Saving aCc 1u"ee Current aCc 1u"ee $i?ed (e"osits $oreign Currenc, (e"osits )ccounts -or 1eturning Indians Re&#ttance" Nort0 )#erica !* 2uro"e Sout0 2ast )sia Hidd.e 2ast )-rica 5t0ers Cu#c! re&#t Ind#aL#n! CheDue Loc!BoE Te e)raph#cF 3#re Tran"Ger (und" Tran"Ger CheDue"F.."FTC" In'e"t&ent B In"urance" Hutua. $unds Insurance Loan" 'o#e >oans >oans )gainst Securities
%%

 Private Banking Port-o.io Invest#ent Sc0e#e Pay&ent Ser'#ce" NetSa-e Bi..Pa, InstaPa, (irectPa, =isa Hone, 5n.ine (onation

>oans )gainst (e"osits 6o.d Credit Card Acce"" To Ban! NetBanking 5ne=ie: Insta).ert )/H P0oneBanking 2#ai. State#ents Branc0 Net:ork

B!SIN2SS S/12/26J

'($C B)N* #ission is to be

Ga 3or d C a"" Ind#an Ban!G;

benc0#arking t0e#se.ves against internationa. standards and best "ractices in ter#s o- "roduct o--erings; tec0no.og,; service .eve.s; risk #anage#ent and audit L co#".iance. /0e objective is to bui.d sound custo#er -ranc0ises across distinct businesses so as to be a "re-erred "rovider o- banking services -or target retai. and :0o.esa.e custo#er seg#ents; and to ac0ieve a 0ea.t0, gro:t0 in "ro-itabi.it,; consistent :it0 t0e BankFs risk a""etite. Bank is co##itted to do t0is :0i.e ensuring t0e 0ig0est .eve.s o- et0ica. standards; "ro-essiona.
%&

integrit,; cor"orate governance and regu.ator, co#".iance. Continue to deve.o" ne: "roduct and tec0no.og, is t0e #ain business strateg, o- t0e bank. Haintain good re.ation :it0 t0e custo#ers is t0e #ain and "ri#e objective o- t0e bank.

9.(C BAN/ bu"#ne"" "trate)y e&pha"#2e" the Go ow#n) :

Increase #arket s0are in IndiaAs e?"anding banking

and

-inancia. services industr, b, -o..o:ing a disci".ined gro:t0 strateg, -ocusing on Bua.it, and not on Buantit, and de.ivering 0ig0 Bua.it, custo#er service. >everage our tec0no.og, ".at-or# and o"en sca.eab.e s,ste#s to de.iver #ore "roducts to #ore custo#ers and to contro. o"erating costs.

Haintain current 0ig0 standards -or asset Bua.it, t0roug0 disci".ined credit risk #anage#ent.

(eve.o" innovative "roducts and services t0at attract t0e targeted custo#ers and address ine--iciencies in t0e Indian -inancia. sector.
%'

Continue to deve.o" "roducts and services t0at reduce bankAs cost o- -unds.

$ocus on 0ig0 earnings gro:t0 :it0 .o: vo.ati.it,.

INSI(2 '($C B)N*

$I=2 DSE ; P)1/ 5$ *)IM2N

451* P>)C2 /1)NS$51H)/I5N $ocus on e--ective :ork ".ace organi9ation Be.ieve in 6 S&a chan)e" ead to ar)e #&pro'e&ent 8 2ver, success-u. organi9ation 0ave t0eir o:n strateg, to :in t0e race in t0e co#"etitive #arket. /0e, use so#e tec0niBue and #et0odo.og, -or s#oot0 running o- business. '($C B)N* a.so

%(

aBuired t0e Ia"anese tec0niBue -or s#oot0 running o- :ork and e--ective :ork ".ace organi9ation.

$ive NSA Part o- /a#2en is t0e tec0niBue :0ic0 is used in t0e bank $or eas, and s,ste#atic :ork ".ace and e.i#inating unnecessar, t0ings -ro# t0e :ork ".ace. B2N2$I/ 5$ $I=2 DSE

It can be started i##ediate.,. 2ver, one 0as to "artici"ate. $ive D SE is an entire., "eo".e driven initiatives. Brings in conce"t o- o:ners0i". ).. :astage are #ade visib.e.

$I=2 NSA Heans <S-1 S-2 SS-& S-+ S51/ SJS/2H)/IM2 SPIC-N-SP)N S/)N()1(IM2 S!S/)IN S2I1I S2I/5N S2I15 S2I*2/S! S'I/S!*2

718 SORT :H It -ocus on e.i#inating unnecessar, ite#s -ro# t0e :ork ".ace. It is e?ce..ent :a, to -ree u" va.uab.e -.oor s"ace.

%)

It segregate ite#s as "er DreBuire and :antedE.

Fre5uently /e5uired

1anted but not /e5uired

/emove everything from wor"!lace

@ess Fre5uently /e5uired

Dun"

72% S4STE1ATIIE <-

Dun"

S,ste#ati9e is -ocus on e--icient and e--ective Storage #et0od. /0at #eans it identi-,; organi9e and arrange retrieva.. It .arge., -ocus on good .abe.ing and identi-ication "ractices. 5bjective <- D) ".ace -or ever,t0ing and ever,t0ing in its ".aceE. 7 % SPICH n H SPAN <S"ic-n-S"an -ocuses on regu.ar c.earing and se.ins"ection. It brings in t0e sense o- o:ners0i". 7&8 STAN.ER.IIE <It -ocus on si#".i-ication and standardi9ation. It invo.ve standard ru.es and "o.icies. It estab.is0 c0eck.ist to -aci.itates autono#ous #aintenance o- :ork".ace. It assign res"onsibi.it, -or doing various jobs and decide on $ive S -reBuenc,.
%*

7+8 S*STAIN:H It -ocuses on de-ining a ne: status and standard oorgani9ed :ork ".ace. Sustain #eans regu.ar training to #aintain standards deve.o"ed under S-&. It brings in se.-- disci".ine and co##it#ent to:ards :ork".ace organi9ation.

@AB:@@IN; CN FI@:

FI@: NEMB:/ 6EBD:C2 F/CM DA2: 2C DA2: C1N:/

BO+ LABEL For :3am!le

1C

C)C6
%+

1 3 4ork Station 718 3 (ra:er 7 8 ) - S0e.- 7)8 6 3 $i.e Nu#ber 7 68

CC@CE/ CCDIN; CF FI@:6

DEPA8TMENT 1elcome Des" 8ersonal Ban"er 2eller /elationshi! Manager Branch Manager Demat Cthers

%,

In t0e '($C B)N* eac0 de"art#ent 0as t0eir di--erent co.or coding a""., on t0e di--erent -i.e. (ue to t0is ever,one a:are about t0eir "articu.ar co.or -i.e :0ic0 is coding on it and t0e, save t0eir va.uab.e ti#e. It is a "art o- *ai9en and a.so inc.uded in t0e s,ste# o- t0e $ive NSA. >ogic be0ind it t0at ; t0e co.or coding are a.:a,s di--erentiate t0e t0ings -ro# t0e si#i.ar one.

'!H)N 12S5!1C2S

/0e BankAs sta--ing needs continued to increase during t0e ,ear "articu.ar., in t0e retai. banking businesses in .ine :it0 t0e business gro:t0. /ota. nu#ber o- e#".o,ees increased -ro# 1&878 as oHarc0 1;2%%6 to 21&77 as o- Harc0 1; 2%%7. /0e Bank continues to -ocus on training its e#".o,ees on a continuing basis; bot0 on t0e job and t0roug0 training "rogra#s conducted b, interna. and e?terna. -acu.t,. /0e Bank 0as consistent., be.ieved t0at broader e#".o,ee o:ners0i"
&-

o- its s0ares 0as a "ositive i#"act on its "er-or#ance and e#".o,ee #otivation. /0e BankAs e#".o,ee stock o"tion sc0e#e so -ar covers around 9%%% e#".o,ees.

1!P22 2)1N2( - 1!P22 SP2N/

It is #ore i#"ortant -or ever, organi9ation to kno: about -ro# :0ere and :0ere to s"ent #one,. )nd ba.anced bet:een t0ese t:o t0ings ru"ee earned and ru"ee s"ent are reBuired -or s#oot0 running obusiness and -inancia. soundness. /0is t,"e o- :atc0 can contro. and e.i#inate t0e unnecessar, s"ending o- business. In t0is diagra# it inc.ude bot0 t0ings -ro# :0ere Bank earned 1u"ee and :0ere to
&1

s"ent.

'($C B)N* earned -ro# t0e NInterest -ro# )dvancesA +1.1& K ; NInterest -ro# Invest#entA 27.12 K; bank earned co##ission e?c0ange and brokerage o- 1+.2+ K. /0ese are t0e #ajor earning sources o- t0e bank. Bank a.so earned -ro# t0e $ore? and (erivatives and so#e ot0er Interest Inco#e. Bank s"ent 9.7+ K on Interest 2?"ense; %.27 K on 5"erating 2?"ense and 1&.+8 K on Provision. Bank a.so s"ent (ividend and /a? on dividend; >oss on Invest#ent ; /a?. )s :e discuss above t0at ba.ancing is #ust bet:een t0ese t:o -or ever, organi9ation es"ecia.., in t0e era o- g.oba.i9ation :0ere t0ere

&%

are sti-- co#"etition a#ong various #arket ".a,ers.

12C2N/ (2=2>5PH2N/

/0e 1eserve Bank o- India 0as a""roved t0e sc0e#e oa#a.ga#ation o- Centur#on Ban! oG Punjab Ltd7 :it0 9.(C Ban! Ltd7 :it0 e--ect -ro# Ha, 2 ; 2%%8.

).. t0e branc0es o- Centurion Bank o- Punjab :i.. -unction as branc0es o- '($C Bank :it0 e--ect -ro# Ha, 2 ; 2%%8. 4it0 1BIAs a""rova.; a.. reBuisite statutor, and regu.ator, a""rova.s -or t0e #erger 0ave been obtained.

&&

/0e co#bined entit, :ou.d 0ave a nation:ide net:ork o- 1167 branc0esO a strong de"osit base o- around 1s.1;22;%%% crores and net advances o- around 1s.89;%%% crores. /0e ba.ance s0eet si9e ot0e co#bined entit, :ou.d be over 1s.1;6 ;%%% crores.

1er)er w#th Centur#on Ban! oG Punjab L#&#ted

5n Harc0 27; 2%%8; t0e s0are0o.ders o- t0e Bank accorded t0eir consent to a sc0e#e o- a#a.ga#ation o- Centurion Bank o- Punjab >i#ited :it0 '($C Bank >i#ited. /0e s0are0o.ders o- t0e Bank a""roved t0e issuance o- one eBuit, s0are o- 1s.1%C- eac0 o- '($C Bank >i#ited -or ever, 29 eBuit, s0ares o- 1e. 1C- eac0 0e.d in Centurion Bank o- Punjab >i#ited. /0is is subject to recei"t o&'

)""rova.s -ro# t0e 1eserve Bank o- India; stock

e?c0anges and

5t0er reBuisite statutor, and regu.ator, aut0orities. /0e s0are0o.ders ).so accorded t0eir consent to issue eBuit, s0ares andCor :arrants convertib.e into eBuit, s0ares at t0e rate o- 1s.1;+ %.1 eac0 to

'($C >i#ited andCor ot0er "ro#oter grou" co#"anies on "re-erentia. basis; subject to -ina. regu.ator, a""rova.s in t0is regard. /0e

S0are0o.ders o- t0e Bank 0ave a.so a""roved an increase in t0e aut0ori9ed ca"ita. -ro# 1s.&+% crores to 1s.++% crores.

Pro#oted in 199+ b, 'ousing (eve.o"#ent $inance Cor"oration 7'($C8; IndiaFs .eading 0ousing -inance co#"an,; '($C Bank is one o- IndiaFs "re#ier banks "roviding a :ide range o- -inancia. "roducts and services to its over 11 #i..ion custo#ers across 0undreds oIndian cities using #u.ti".e distribution c0anne.s inc.uding a "an-India net:ork o- branc0es; )/Hs; "0one banking; net banking and #obi.e banking. 4it0in a re.ative., s0ort s"an o- ti#e; t0e bank 0as e#erged as a .eading ".a,er in retai. banking; :0o.esa.e banking; and treasur,
&(

o"erations; its t0ree "rinci"a. business seg#ents.

/0e bankFs co#"etitive strengt0 c.ear., .ies in t0e use o- tec0no.og, and t0e abi.it, to de.iver :or.d-c.ass service :it0 ra"id res"onse ti#e. 5ver t0e .ast 1 ,ears; t0e bank 0as success-u.., gained #arket s0are in its target custo#er -ranc0ises :0i.e #aintaining 0ea.t0, "ro-itabi.it, and asset Bua.it,.

)s on Harc0 1; 2%%8; t0e Bank 0ad a net:ork o- 761 branc0es and 1;977 )/Hs in 27 cities. $or t0e ,ear ended Harc0 1; 2%%8; t0e

Bank re"orted a net "ro-it o- IN1 1+.9% bi..ion 71s.1+9%.2crore8; u" 9. K; over t0e corres"onding ,ear ended )s oHarc0 1; 2%%7.

Harc0 1; 2%%8 tota. de"osits :ere IN1 1%%7.69 bi..ion;

71s.1%%;769 crore8 u" &7.+K over t0e corres"onding ,ear ended Harc0 1; 2%%7. /ota. ba.ance s0eet si9e too gre: b, &6.%K to IN1 1; 1.77 bi..ion 71 177 crore8. >eading Indian and internationa.

Pub.ications 0ave recogni9ed t0e bank -or its "er-or#ance and Bua.it,.

&)

Centurion Bank o- Punjab is one o- t0e .eading ne: generation "rivate sector banks in India. /0e bank serves individua. consu#ers; s#a.. and #ediu# businesses and .arge cor"orations :it0 a -u.. range o- -inancia. "roducts and services -or investing; .ending and advice on -inancia. ".anning. /0e bank o--ers its custo#ers an arra, o- :ea.t0 #anage#ent "roducts suc0 as #utua. -unds; .i-e and genera. insurance and 0as estab.is0ed a .eaders0i" F"ositionF. /0e bank is a.so a strong ".a,er in -oreign e?c0ange services; "ersona. .oans; #ortgages and agricu.tura. .oans.

)dditiona.., t0e bank o--ers a -u.. suite o- N1I banking "roducts to 5verseas Indians. 5n 29t0 )ugust 2%%7; Centurion Bank o- Punjab #erged :it0 >ord *ris0na Bank 7>*B8; "ost obtaining a.. reBuisite statutor, and regu.ator, a""rova.s. /0is #erger 0as -urt0er

strengt0ened t0e geogra"0ica. reac0 o- t0e Bank in #ajor to:ns and cities across t0e countr,; es"ecia.., in t0e State o- *era.a; in addition

&*

to its e?isting do#inance in t0e nort0ern "art o- t0e countr,.

Centurion Bank o- Punjab no: o"erates on a strong nation:ide -ranc0ise o- &%& branc0es and &+2 )/Hs in 19% .ocations across t0e countr,; su""orted b, e#".o,ee base o- over 7;+%% e#".o,ees. In addition to being .isted on t0e #ajor Indian stock e?c0anges; t0e BankAs s0ares are a.so .isted on t0e 2?c0ange. >u?e#bourg Stock

&+

)C'I2=2H2N/ IN 2%%7
Business Monitor survey 2oday7 ;rou! Cne of IndiaFs GMo! Inno4" .4e Com1"n.e!G

Financial :3!ress7 :rnst > Houng Award

Best Ban" Award in the P#.4" e Sec o# c" ego#/

;lobal H/ 9Em1lo/e# B#"nd o: $e Ye"# ()); <())=9 :3cellence Awards Award 7 First /unner u!0 > many more 7 Asia 8acific H/M Congress. Business 2oday

9Be! B"nk9 Aw"#d

Dun > Bradstreet B American :3!ress Cor!orate Best 9Co#1o#" e Be! B"nk9 Aw"#d Ban" Award %--* 2he Bombay 6toc" :3change and Nasscom 9Be! Co#1o#" e FoundationFs P#"c .ce9 Aw"#d Business for 6ocial /es!onsibility Awards %--*

Soc."l

8e!1on!.2.l. /

Cutloo" Money > Best Ban" Award in the 8rivate sector category$ ND2? 8rofit

&,

2he Asian Ban"er Best /etail Ban" in India :3cellence in /etail Financial 6ervices Awards Asian Ban"er HDFC BAN Managing Director Aditya 8uri wins the

Le"de#!$.1 Ac$.e4emen Aw"#d :o# Ind."

'-

S3OT ANAL4SIS

STREN0T9
1ig0t strateg, -or t0e rig0t "roducts. Su"erior custo#er

3EA/NESSES
So#e ga"s in range -or certain sectors. Custo#er service sta-- need training.

service vs. co#"etitors. 6reat Brand I#age Products 0ave reBuired accreditations. 'ig0 degree o- custo#er satis-action. 6ood ".ace to :ork >o:er :it0 res"onse e--icient ti#e and

Processes and s,ste#s; etc Hanage#ent insu--icient. Sectora. gro:t0 is constrained b, .o: une#".o,#ent .eve.s and co#"etition -or sta-cover

e--ective service. (edicated :ork-orce ai#ing at #aking a .ong-ter# career in t0e -ie.d.

'1

Opportun#t#e"

Threat"

Pro-it #argins :i.. be good. Cou.d e?tend to overseas broad.,.

>egis.ation cou.d i#"act. 6reat risk invo.ved =er, 0ig0 co#"etition

Ne: s"ecia.ist a"".ications. Cou.d seek better custo#er dea.s.

"revai.ing in t0e industr,. =u.nerab.e to reactive attack b, #ajor co#"etitors

$ast-track deve.o"#ent

career o""ortunities

>ack o- in-rastructure in rura. areas cou.d constrain invest#ent.

on an industr,-:ide basis.

)n a"".ied researc0 centre to create o""ortunities -or deve.o"ing tec0niBues to "rovide added-va.ue services.

'ig0 vo.u#eC.o: cost #arket is intense., co#"etitive.

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INT8ODUCTION OF THE STUDY S" .!:"c .on is an im!ortant goal for organiIations to reach as it has been shown that
!rofitability0 !roductivity0 em!loyee retention0 and customer satisfaction are lin"ed to em!loyee satisfaction$ DCB 6A2I6FAC2ICN 2he term Dob satisfaction refers to an individualFs general attitude towards his or her #ob$ A !erson with a high level of #ob satisfaction holds !ositive attitude towards the #ob0 while a !erson who is dissatisfied with his or her #ob holds negative attitude about the #ob$ In sim!le words #ob satisfaction is.7 Dob 6atisfaction describes how content an individual is with his or her #ob$ 2here are a variety of factors that can influence a !ersonFs level of Dob satisfaction4 some of these factors are.7 J Include the level of !ay and benefits0 J 2he !erceived fairness of the !romotion system within a com!any0 J 2he level of !ay and benefits0 J @eadershi! and social relationshi!s0 J 2he #ob itself$

>$/ o ! 0d/ "2o0 em1lo/ee !" .!:"c .on? In my !oint of view0 study of G:m!loyee satisfactionG hel!s the com!any to maintain a standards > increase !roductivity by motivating the em!loyees$ this study tells us how

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much the em!loyees are ca!able > their interest at wo" !laceK what are the things still to be satisfy to the em!loyees$ although Ghuman resourceG are the most im!ortant resources for any organiIation0 so to study on em!loyees satisfaction hel!s to "now the wor"ing conditions > what are the things that affects them not to wor" !ro!erly$ always ma#ority of done by the machinesAe5ui!ments but without any manual moments nothing can be done$ so to study on em!loyee satisfaction is necessary$

THE STATE OF EMPLOYEE SATISFACTION

Although committed and loyal em!loyees are the most influential factor to becoming an em!loyer of choice0 itFs no sur!rise that com!anies and organiIations face significant challenges in develo!ing energiIed and engaged wor"forces$ However0 there is !lenty of research to show that increased em!loyee commitment and trust in leadershi! can !ositively im!act the com!anyFs bottom line$ In fact0 the true !otential of an organiIation can only be realiIed when the !roductivity level of all individuals and teams are fully aligned0 committed and energiIed to successfully accom!lish the goals of the organiIation$ As a result0 the goal of every com!any should be to im!rove the desire of em!loyees to stay in the relationshi! they have with the com!any$ 1hen com!anies understand and manage em!loyee loyalty 7 rather than retention s!ecifically 7 they can rea! benefits on both sides of the balance sheet i$e$0 revenues and costs$

Cn the revenue side of the balance sheet0 loyal and committed em!loyees are more li"ely to go Gabove and beyondG to meet customer needs and are highly motivated to wor" to the best of their ability$ Both of these traits are crucial for continued customer commitment and ongoing revenue and growth for the com!any$

''

Cn the cost side0 loyal em!loyees stay longer0 resist com!etitive #ob offers0 do not actively loo" for other em!loyment and recommend the com!any to others as a good !lace to wor"$ 2hese four behaviors !ositively influence the cost side of the balance sheet because they are leading indicators of em!loyee retention$ 2he longer com!anies "ee! their em!loyees0 the longer they can avoid having to !ay to re!lace them$ In other words0 rather than focusing only on retention <that is0 trying to retain em!loyees who have already decided to leave=0 organiIations should !roactively recogniIe the benefits of understanding0 managing and im!roving em!loyee loyalty$ 2he most successful organiIations are those that can ada!t their organiIational behavior to the realities of the current wor" environment where success is de!endent u!on innovation0 creativity and fle3ibility$ Additionally0 the dynamics of the wor" environment have to reflect a very diverse !o!ulation com!rised of individuals whose motivations0 beliefs and value structures differ vastly from the !ast and from each another$ Arguably0 the most valuable0 but also volatile0 cor!orate asset is a stable wor"force of com!etent0 dedicated em!loyees0 since such an em!loyee base gives com!anies a !owerful advantage4 de!th of "nowledge and organiIational strength$ Cne of the "ey ste!s to understanding and im!roving em!loyee loyalty is by ac"nowledging the im!ortance of the following factors in building loyalty and satisfaction.

Broadly7defined res!onsibilities rather than narrowly7defined #ob functions :ffective and regular !erformance evaluations0 both formally and informally A cor!orate em!hasis on em!loyee learning0 develo!ment and growth 1ide7ranging em!loyee !artici!ation in the organiIation as a whole

2y!ically0 a combination of factors influences em!loyeesF decisions to stay at their current #ob$ Contributing factors include satisfying wor"0 a sense of #ob security0 clear o!!ortunities for advancement0 a com!elling cor!orate mission combined with the ability to contribute to the organiIationFs success0 and a feeling that their s"ills are being '(

effectively used and challenged$ 6!ecifically0 em!loyees who en#oy their wor"0 identify themselves with their em!loyer and !erceive that the com!any is fle3ible regarding wor" and family issues also intend to stay with the organiIation$ 2oday0 em!loyee loyalty needs to be earned0 rather than assumed0 and must be s!ecific0 rather than general 7 em!loyees are loo"ing at their em!loyment as a means of achieving !ersonal goals rather than sim!ly being the Ggood cor!orate soldierG of the !ast$ 2his means that com!anies need to e3!ress and act on a commitment to develo! em!loyeesF career ob#ectives by introducing initiatives that ma"e em!loyees believe that their current #ob is the best !ath to achieving their career goals$ In !articular0 consider the following elements of effective strategies designed to build loyalty and retain "ey em!loyees.

Include o!!ortunities for !ersonal growth and invest heavily in the !rofessional develo!ment of the best !eo!le in the organiIation$ 8rovide em!loyees with well7defined career !aths <including a succession !lan=0 mentors and tuition reimbursement for #ob7related education$ 2rain em!loyees0 even if it ma"es them more attractive to the com!etition$ 1ithout seeing an o!!ortunity on the horiIon0 few high !otential em!loyees will stay with a com!any and allow themselves to grow stagnant$

Ac"nowledge non7wor" !riorities by recogniIing and res!onding to em!loyeesF needs for greater balance in their lives0 since em!loyees will develo! loyalty for organiIations that res!ect them as individuals0 not #ust as wor"ers$

OB@ECTI,ES OF THE STUDY

&- To c$eck $e le4el o: em1lo/ee !" .!:"c .on "mong 3o2 wo#k "!!.gnee!')

(- To "n"l/Ae $e wo#k #el" ed ! #e!!%- To ! 0d/ $e " . 0de o: em1lo/ee! ow"#d $e.# wo#k "nd 3o2 !ec0#. /B- To :.nd mo .4" .on"l :"c o#! o: em1lo/ee!C- To :.nd o0 $ow m0c$ em1lo/ee! "#e 1"# .c.1" .on .n d.c.!.on<m"k.ngD- To :.nd o0 $ow m0c$ em1lo/ee! "#e !" .!:.ed w. $ $e.# !"l"#/ le4el-

Ano $e# "11#o"c$ o $e .!!0e o: lo/"l / .! o con!.de# $e 4"l0e o: $e :.4e "I9!"E In e#e! .ng wo#k- No one wants to do the same boring #ob over and over0 day after day$ Although any #ob will re5uire some re!etitive tas"s0 all #obs should include at least some !arts that are of high interest to em!loyees$

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In:o#m" .on- Information is !ower and em!loyees want to have the information they need to "now to do their #obs better and more effectively$ And0 more than ever0 em!loyees want to "now how they are doing in their #obs and how the com!any is !erforming overall$ It is vitally im!ortant to o!en the channels of communication in an organiIation to allow em!loyees to be informed0 as" 5uestions0 and share information and to ins!ire them to share the vision of the com!any$ In4ol4emen - Managers today are faced with an incredible number of o!!ortunities and !roblems and0 as the s!eed of business continues to increase0 the amount of time that they have to ma"e decisions continues to decrease$ Involving em!loyees in decision7ma"ing0 es!ecially when the decisions affect them directly0 is both res!ectful and !ractical$ Not only do those closest to the !roblem ty!ically have the best insight as to what to do0 involving them in decision7ma"ing will increase their commitment and im!rove the success of im!lementing new ideas or change$ 6imilarly0 management needs to follow through on !romises and live the values they !reach$ Inde1endence- Few em!loyees want their every action to be closely monitored$ Most em!loyees a!!reciate having the fle3ibility to do their #obs as they see fit$ ;iving em!loyees latitude increases the chance that they will !erform as desired0 as well as bringing additional initiative0 ideas0 and energy to their #obs$ :m!loyees also need to be encouraged to achieve their best !otential$

THEO8IES OF EMPLOYEE SATISFACTION A8EE

&F NEED FULFILLMENT THEO8YE

'+

According to this theory a !erson is satisfied when he gets training from his Dob what he wants$ 2he more he wants something or the more im!ortant it is to him0 the more satisfied he is when he received it$ In other words0 LDob 6atisfaction will vary directly with the e3tend to which those needs of an individual which can be satisfied are actually satisfied$ ?room views satisfaction in terms of the !ositively valued outcomes that a #ob !rovides to a !erson$ 2hus0 #ob satisfaction is !ositively related to the degree to which one9s needs are fulfilled$ 2he fulfillment theory suffers from a ma#or drawbac"$ 6atisfaction is a function of not only what a !erson receives but what he feels he should receive$ (F EGUITY THEO8YE Ender this theory0 it is believed that a !erson9s #ob satisfaction de!ends u!on his !erceived e5uity as determined by his in!ut7 out!ut balance in com!arison with the in!ut7 out!ut balance of others$ :very individual com!ares his rewards with those of a Mreference grou!9$ If he feels his rewards are e5uitable in com!arison with others doing similar wor"0 he feels satisfied$ Dob 6atisfaction is thus a function of the degree to which #ob characteristics meet the desires of the reference grou!$ For e3am!le0 one study of the effects of community features on #ob satisfaction revealed that wor"ers living in a well to a neighbourhood felt less satisfied than those living in !oor neighbourhood$

%F T>O FACTO8 THEO8YE Frederic" HerIberg and his colleagues develo!ed the 2wo factor theory satisfaction$ According to this theory satisfaction and dissatisfaction are interde!endent of each other and e3ist on a se!arate continuum$ Cne set of factors "nown as hygiene factors ',

<Com!any !olicy0 administration0 su!ervision0 !ay0 wor"ing conditions and inter!ersonal relations= act as dissatisfiers$ 2heir absence cause dissatisfaction but their !resent does not result in !ositive satisfaction$ 2he other set of factors "nown as satisfiers <achievements0 advancement0 recognition0 wor" itself and res!onsibility= lead to satisfaction$ 6everal studies designed to test the two factor theory !rovide little su!!ort to this theory$ 2he same factor may serve as a satisfier for one but a dissatisfier for another$ It a!!ears from this theory that a !erson can be satisfied and dissatisfied at the same time$ '= DISC8EPANCY THEO8YE According to this theory #ob satisfaction de!ends u!on what a !erson actually receives from his #ob and what he e3!ects to receive$ 1hen the reward actually received are less than the e3!ected rewards it causes dissatisfaction$ In the words of @oc"e0 LDob 6atisfaction and dissatisfaction are function of !erceived relationshi! between what one wants from one9s #ob and what one !erceive it is actually offering$ In other words0 satisfaction is the difference between what one actually received and what he feels he should receive$ 2his theory fails to reveal whether over7satisfaction is or is not a dimension of dissatisfaction and if so 0 how does it dissatisfaction arising out of the situation when received outcomes are less than the outcomes one feels he should receive$

CF EGUITY DISC8EPANCY THEO8YE 2his is a combination of e5uity and discre!ancy theories$ @awlers hs ado!ted the difference a!!roach of discre!ancy theory rather than the ratio a!!roach of e5uity theory$ From e5uity theory the conce!t of com!arision has been selected to serve as an (-

intervening variable$ Ender this theory satisfaction is defined as the difference between the outcomes that one !erceives he actually received and outcomes that one feels he should receives in com!arision with others$ when the individual feels that what he actually received is e5ual what he !erceives he should receive there is satisfaction$ 2hus an individual9s rece!tion of his reward is influenced by more than #ust the ob#ective amount of that factor$ Because of this !sychological influence the same amount of reward aften can be seen 5uite differently by two !eo!le0 to one it can be a large amount 0 while to another !erson it can be a small amount$ DF SOCIAL 8EFE8ENCE 78OUP THEO8YE /eference grou! defines the way an individual loo"s at the world$ According to this theory #ob satisfaction occurs when the #ob meet the interest 0 desires and re5uirements of a !erson9s reference grou!$ In other words0 #ob satisfaction is a function of the degree to which the #ob meets the a!!roval of the grou! to which the individual loo"s for guidance in evaluating the world and defining social reality$ 2he social reference grou! theory is similar to the need fulfillment theory e3ce!t than it ta"es into account not the desires0 needs and interests of the given individual but rather the !oint of view and the o!inion of the grou!s to whom the individual loo"s for guidance$

Sec o#."l Com1"#.!on o: F"c o#! In:l0enc.ng @o2 S" .!:"c .on .n Ind."n B"nk.ng Sec o#

It has been observed that degree of #ob satisfaction of !rivate sector ban"s was found to be significantly lower than in !ublic sector ban"s$ At least two reasons were found to be

(1

res!onsible for the low #ob satisfaction level of em!loyees of !rivate sector ban"s$ 1hen data were analysed0 sur!rising results were found$ In the study0 #ob satisfaction was measured by a tool develo!ed by 6inha <1,,-=$ Dob satisfaction was measured on the basis of five variables$ 2hese are <i= !ay0 <ii= wor" condition <for e3am!le0 safety0 heat0 noise0 and dust=0 <iii= service conditions <for e3am!le0 security0 !romotion0 and welfare=0 <iv= relation with su!eriors0 !eers0 and wor"ers0 and <v= com!any as a whole$ Among four variables0 the degree of difference is not noticeable$ But low scores of the third variable0 service conditions0 were found to be res!onsible for overall low degree #ob satisfaction in !rivate sector ban"s$ :m!loyees of !rivate sector ban"s !erceive that their #obs are not secure$ In fact0 the effect of an o!en economy0 globalisation0 and !rivatisation can be seen more easily in !rivate sector ban"s than in !ublic sector ban"s$ In !rivate sector ban"s0 the environment in highly com!etitive and #ob security is based on !erformance and various other factors$ 2hough it is true that this environment !rovides a challenging #ob !rofile0 it also creates a less secure environment$ Industriousness0 dedication0 devotion0 and commitment are not enough to secure a #ob$ 2he high level of !erformance of an individual is also based on various factors$ 2hese may be mar"et situation0 e3istence of com!etitor0 and government !olicies$ 1here these factors are adverse in nature0 !erformance automatically suffers$ During this !eriod0 em!loyees feel insecure0 which reduces overall #ob satisfaction$ In !ublic sector ban"s0 welfare !olicies are clearly defined and legally enforced$ /etirement0 !ensions0 gratuity0 and other related welfare !olicies are effectively e3ecuted$ 6o there is no !roblem with social security$ In !rivate sector ban"s0 welfare activities are neither well !lanned nor well e3ecuted$ :m!loyee turnover is very high and #ob security is very low$ Most em!loyees are from middle class Indian families$ 2hese em!loyees have seen the golden !eriod of !ublic sectors and government #obs during their growing stages$ 6o the effect of welfare schemes of government #obs and !ublic sectors cannot be easily eradicated from their !syche$ 8rivate sector em!loyees are ready to wor" hard but they demand !ensions0 security0 and sometimes an easy lifestyle$

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2hese findings in the ban"ing sectors could be e3tended to e3!lain the #ob situation in other service sectors$ In terms of security0 !romotion0 and welfare !olicy0 there is a clear difference between !ublic and !rivate sector em!loyees$ It was stated earlier that when we com!are the #ob satisfaction of em!loyees in !ublic and !rivate sector ban"s or in other service sectors0 the !ublic and !rivate sectors become the main factor of com!arison$ In India0 the !ublic or !rivate sector factors neutralise all other factors of com!arison$ For e3am!le0 in India0 a !ublic sector insurance com!any li"e @IC will always be !referred by a new entrant0 if he has a choice$

INC8EASE EMPLOYEE SATISFACTION AND P8ODUCTI,ITY

By !roviding amenities that ma"e your building a healthier and more comfortable !lace to wor"0 you can reduce em!loyee absenteeism and turnover while increasing !roductivity$ :ven small wor"!lace im!rovements0 such as installing individual

(&

tem!erature and ventilation controls0 im!roving the flow of natural light and !roviding access to a roof garden0 can have a big im!act on your com!anyFs bottom line$ 2he :8A estimates that building7related illnesses account for N)- billion in annual !roductivity lost nationwide$ And according to a Eniversity of 1isconsin study0 tangible costs of hiring and retaining a new em!loyee ty!ically range between N1-0--- and N(-0--- 77 !lus less 5uantifiable0 but no less real0 !roductivity costs as em!loyees ada!t to the new wor" environment and cultivate relationshi!s with clients0 cowor"ers0 contractors0 etc$ 1ith less absenteeism and greater em!loyee retention0 your investments in green building features will 5uic"ly !ay for themselves$

In a %--' survey of *1, building owners0 develo!ers0 architects0 engineers and consultants0 2urner Construction found that ,1 !ercent of e3ecutives involved with green buildings believed that the health and well7being of their building occu!ants was greater$

By installing s"ylights0 fluorescent light fi3tures and additional insulation to im!rove lighting and tem!erature control0 ?erifoneFs credit card verification facility in Costa Mesa0 California0 decreased its energy consum!tion (, !ercent0 reduced em!loyee absenteeism by '* !ercent and boosted !roductivity by ( !ercent to * !ercent$

At the head5uarters of the 1est Bend Mutual Insurance Com!any in 1est Bend0 1isconsin0 green features including individual wor"station controls for tem!erature0 airflow0 lighting and noise contributed to a 1( !ercent increase in claims !rocessing !er em!loyee$

>HAT IS 8ESEA8CH ?

8e!e"#c$ is a systematic and continues method of defining a !roblem0 collecting the facts and analyIing them0 reaching conclusion forming generaliIations$

('

2he systematic and ob#ective identification0 collection0 analysis0 dissemination0 and use of information for the !ur!ose of assisting management in decision ma"ing related to the identification related to solution to !roblems and o!!ortunities $ Mar"eting /esearch is the function that lin"s the customer0 concumer0 and !ublic to the mar"eter through information7 information used to identify and define mar"eting o!!ortunities and !roblems4 generate0 refine0 and evaluate mar"eting actions4 monitor mar"eting !erformance4 and im!rove understanding of mar"eting as a !rocess$ 2he study of research methods !rovides manager "nowledge and s"ill needed to solve the !roblems and meet the challenges of a fast7!aced decision7ma"ing environment$ 2hree factors that stimulate an interest of managers in research study are 2he manager9s increased need for more and better information$ 2he availability of increased techni5ues and tools to meet this need$ 2he result information overload if disci!line is not em!loyed in the !rocess$

8ESEA8CH METHODOLO7Y /esearch methodology is a way to systematically solve the !roblem$ It may be understood has a science of studying how research is done scientifically$ In it we study the various ste!s that all generally ado!ted by a researcher in studying his research !roblem along with the logic behind them$ 2he sco!e of research methodology is wider than that of research method$ 2hus when we tal" of research methodology we not only tal" of research methods but also consider the logic behind the method we use in the conte3t of our research study and e3!lain why we are using a !articular method$ So we should consider the following steps in research methodology: 8roblem statement Cb#ective of study /esearch design

((

 Data collection 6am!le design 6tatistical tool @imitation of study

8ESEA8CH DESI7N
A framewor" or blue!rint for conducting the research !ro#ect$ It s!ecifies the details of the !rocedures necessary for obtaining the information needed to structure andAor solve research !roblems$ A good research design lays the foundation for conducting the !ro#ect$ A good research design will ensure that the research !ro#ect is conducted effectively and efficiently$ 2y!ically0 a research design involves the following com!onents0 or tas"s. Define the information needed$ Design the research$ 6!ecify the measurement and scaling !rocedures$ Construct and !resent a 5uestionnaire or an a!!ro!riate form for data collection$ 6!ecify the sam!ling !rocess and sam!ling siIe$ Develo! a !lan of data analysis$

DATA COLLECTION 2he tas" of data collection is begins after a research !roblem has been defined and research designedA !lan chal"ed out$ Data collection is to gather the data from the !o!ulation$ 2he data can be collected of two ty!es. P#.m"#/ D" "

()

 Second"#/ D" "

P#.m"#/ D" " 2he P#.m"#/ D" " are those0 which are collected afresh and for the first time0 and thus ha!!ened to be original in character$ Cbservation$ 8ersonal Interviews$ 2ele!honic interviews$ Ouestionnaires$ 6chedules$

Second"#/ D" " 2he Second"#/ D" " are those which have already been collected by someone else and which have already been !assed through the statistical tool$ Methods of collection of 6econdary data News!a!ers$ MagaIines Dournals Internet @ibraries Cld records$ In $.! 1#o3ec I "m 0!.ng 2o $ $e me $od o: d" " collec .on SAMPLE DESI7N A sam!le design is a definite !lan for obtaining a sam!le from a given !o!ulation$ It refers to the techni5ue or the !rocedure and the researcher would ado!t in selecting items of sam!le$ 6am!le design may as well lay down the number of items to be included in the

(*

sam!le i$e$ the siIe of the sam!le$ 6am!le design is determined before data are collected$ Before going trough sam!ling design0 let us learn some terms$ Po10l" .on. 2he aggregate of all the elements0 sharing some common set of characteristics0 that com!rises the universe for the !ur!ose of the research !roblem$ S"m1le. A subgrou! of the elements of the !o!ulation selected for !artici!ation in the study$ In this !ro#ect sam!le siIe is '- em!loyees S"m1l.ng Un. . 2he basic unit containing the elements of the !o!ulation to be sam!led$ In this !ro#ect sam!ling unit is em!loyees

S"m1l.ng Tec$n.H0e 0!ed .n !0#4e/777 Non!robability 6am!ling 2echni5ues$ J Con4en.ence S"m1l.ng$ Non!robability sam!ling techni5ues do not use chance selection !rocedures$ /ather0 they rely on the !ersonal #udgment of the researcher where as !robability sam!ling !rocedure each element of the !o!ulation has fi3ed !robabilistic chance of being selected for the sam!le$

In our survey0 we have used non!robabilty sam!ling techni5ue because there is no way of determining the !robability of selecting any !articular element for inclusion for the sam!le0 the estimates obtained are not statistically !ro#ectable to the !o!ulation$ 1e have selected the sam!le with hel! of 6ales Manager and their @ife Advisors$ Among non!rabability sam!ling techni5ues0 the sam!ling techni5ue a!!lied here is convenience sam!ling$ Convenience 6am!ling attem!ts to obtain a sam!le of convenient elements$ 2he selection units is left !rimarily to the inerviewer$ Convenience 6am!ling is

(+

the least e3!ensive and least time consuming of all sam!ling techni5ues$ 2he sam!ling units are accessible0 easy to maesure0 and coo!erative$ In s!ite of these advantages0 his form of sam!ling has seroius limitations$ Many !otential sources of selection bias are !resent0 including res!ondent self7selection$ Convenience 6am!les aer not re!resentative of any definable !o!ulation$

GUESTIONNAI8E DESI7N A G0e! .onn".#e' whether it is called a schedule0 interview form0 or measuring instrument0 is a structured techni5ue for data collection that consists of series of 5uestion0 written or verbal0 that a res!ondent answers$

O23ec .4e O: A G0e! .onn".#e

It must translates the information needed into a set of s!ecific 5uestions that the res!ondents can and will answer$ A 5uestionnaire must u!lift0 motivate0 and encourage the res!ondent to become involved in the interview0 to coo!erate0 and to com!lete the interview$ A 5uestionnaire should minimiIe res!onse error$

ANALYSIS
T$e "n"l/!.! o: $.! 1#o3ec 2eg.n! w. $ "n"l/!.! o: e"c$ H0e! .onANA@H6I6 AND IN2:/8/:2A2ICN

(,

Managers need information0 not raw data$ /esearch hel!s in generating information by analyIing data after its collection $data analysis usually involves reducing accumulated data to a manageable siIe0 develo!ing summaries0 loo"ing for !atterns and a!!lying statististical techni5ues$ 6caled res!onses on 5uestionnaires and e3!erimental instruments often re5uire the analyst to derive various functions0 as well as to e3!lore relationshi!s among variables$ In various cases when we deal with statistics we find that the variables are related to each other or we can also say two variables seem to move in the same direction such as both are increasing or decreasing or even some factors tend to move in the o!!osite direction also means one is increasing and the other is decreasing$ Analysis has been done by a!!lying various statistical tools to study the basic factors that lead to Dob satisfaction among Dob 1or" Assignees$ ?arious im!ortant factors identified during the study are.7 J Dob security J Motivation G Attitude J 6tress Cne of the tools used for the analysis is correlation among various factors using 8earsonFs method through Bivariate table in the software 6866$ arl

8e!1onden

2/ 7ende#

Male Female

%, 11 )-

2otal '2AB@: 17 6HC16 /:68CND:N26 BH ;:ND:/

(e& a e :>A

1a e =:A

FI;71 6HC16 /:68CND:N26 BH ;:ND:/

Here we can see ma3imum number of res!ondent is male that is *%P and female are only %+P$ 2his hel!s us to "now that mostly male em!loyees are wor"ing in HDFC Ban"$

De1"# men ! o: 8e!1onden

De!artments Mar"eting Human resource

No$ of em!loyees %% + )1

Finance o!eration

( (

2AB@: %76HC16 D:8A/2:M:N26 CF /:68CND:N26

No. o- e#".o,ees 2+

2%

1+ No. o- e#".o,ees 1%

% Harketing 'u#an resource $inance o"eration

FI;7% 6HC16 D:8A/2:M:N26 CF /:68CND:N26 Here we can see ma3imum number of res!ondent are for mar"eting de!artment that are %% out of '- res!ondent

>o#k E61e#.ence o: 8e!1onden

6$no E61e#.ence .n /e"#! 1 less then 1 year % more then 1 year No- o: 8e!1onden ! 1( 1-

)%

& less then % year ' more then % year 2AB@: &76HC16 1C/ :Q8:/INC: CF /:68CND:N2
No. o- 1es"ondents

+ *

16 14 12 10 8 6 4 2 0 .ess t0en 1 ,ear 1 #ore t0en 1 ,ear 2 .ess t0en 2 ,ear #ore t0en 2 ,ear &

FI;7& 6HC16 1C/ :Q8:/INC: CF /:68CND:N2

Here we can see that em!loyees are not e3!erienced$1( em!loyees are having the e3!erience of less than 1 year and 1& of less then % year$

S" .!:"c .on le4el w. $ $e 3o2

S- NO-

S" .!:"c .on Le4el

No- o: 8e!1onden !

)&

1 @i"e very much % @i"e some what & Neutral ' Disli"e some what ( Disli"e very much il

%( 1' 1 N

2AB@: ' 6HC16 6A2I6FAC2ICN @:?:@ 1I2H 2H: DCB :m!loyee satisfaction
%

2+

2%

1+

Series2

1%

FI;7' 6HC16 6A2I6FAC2ICN @:?:@ 1I2H 2H: DCB

&

2he data in the above table reveals that ma#ority of res!ondents <%(= were highly satisfied wih their #ob and 1- of res!ondents are satisfied with their #ob$ 2his show that em!loyees are satisfied with their #ob$

S" .!:/ w. $ $e 2e$"4.o# o: m"n"gemen "nd o $e# em1lo/ee!

6atisfaction @evel Highly 1 6atisfied No$ of /es!ondents %%

6$no

)'

% 6atisfied & Moderate ' Ensatisfied Highly ( Ensatisfied

1( % 1

2AB@: ( 6hows 6atisfaction level with the behavior of management and other em!loyees
No. o- 1es"ondents 25 20

15

10

0 Highly Satisfied Satisfied Moderate Unsatisfied Highly Unsatisfied

Fig ( 76hows 6atisfaction level with the behavior of management and other em!loyees

No. of Respondents

2he data in the above table reveals that ma#ority of res!ondents <%%= were highly satisfied wih the behaviour of other em!loyees and 1- of res!ondents are satisfied and ( are moderate$

C"#ee# "nd g#ow $ o11o# 0n. .e!

6$no

8references 1 Hes

No$ of /es!ondents &)

)(

% No

'

2able) B6hows Career and growth o!!ortunities for emloyees$

No. o- 1es "ondents

No 1%K

J es 9%K

Fig7) 6hows Career and growth o!!ortunities for emloyees$

Here we can see ma3imum number of res!ondent are thin" that there career and growth o!!ortunities offered by the #ob is that is ,-P $ 2his shows that in HDFC Ban" career and growth o!!ortunities offered by the #ob$

P"# .c.1" .on .n Dec.!.on m"k.ng

6$no 8artici!ation 1 %-P7&-P % &-P7'-P No- o: 8e!1onden ! 1% 1-

))

& '-P7(-P ' (-P7)-P ( Above )-P

+ ' )

2able *76hows 8artici!ation of emloyees in Decision ma"ing

No. o- 1es"ondents

Abo'e <;A

<

+;AH<;A

?;AH+;A

>

No. o- 1es"ondents

,;AH?;A

-;

:;AH,;A

-:

Fig7* 6hows 8artici!ation of emloyees in Decision ma"ing

Here we can see less number of res!ondent are !artici!ating in the Decision ma"ing 2hat is only ) res!ondent are !artici!ating in the above)-P decisions and 1% are !artici!ating in %-P7&-P$

S" .!:"c .on Le4el o: Em1lo/ee!

S-NO1$ %$

S" .!:"c .on Le4el Highly 6atisfied 6atisfied

No- o: 8e!1onden ! , 1(

)*

&$ Moderate ( '$ Ensatisfied 1($ Highly Ensatisfied 1 2able+76hows 6atisfaction @evel of :m!loyees with the salary
No. o- 1es"ondents 16 1& 12 1% 8 6 & 2 % 'ig0., Satis-ied Satis-ied Hoderate !nsatis-ied 'ig0., !nsatis-ied No. o- 1es"ondents

FI;+7 6hows 6atisfaction @evel of :m!loyees with the salary

2he data in the above table tells us that ma#ority of res!ondents <1(= are satisfied with the level of salary which they are getting and only <,= of res!ondents are highly satisfied with this statement and <1-= res!ondent are not satisfied with the salary which they are getting$

M"n"gemen .! :le6.2le "nd 0nde#! "nd! $e .m1o# "nce o: 2"l"nc.ng m/ wo#k "nd 1e#!on"l l.:e6$ NC$ 6atisfaction @evel No$ of /es!ondents

)+

1 6trongly agree % Agree & Endecided ' Disagree ( 6trongly disagree %

1+ 1+ %

2AB@: ,76hows Management is fle3ible and understands the im!ortance of balancing my wor" and !ersonal life$
No. o- 1es"ondents 2% 18 16 1& 12 1% 8 6 & 2 % Strong., agree )gree !ndecided (isagree Strong., disagree No. o- 1es"ondents

FI;7, 6hows Management is fle3ible and understands the im!ortance of balancing my wor" and !ersonal life$

2he data in the above table tells us that ma#ority of res!ondents <1+= are satified with the management fle3ible and understands the im!ortance of balancing my wor" and !ersonal life$

Ag#ee w. $ $e com1"n/ 2on0! 1l"n!

6$no 6atisfaction @evel 1 6trongly agree % Agree No$ of /es!ondents + 1% ),

& Endecided ' Disagree ( 6trongly disagree

11 ) &

2AB@:71- 6hows how many em!loyees agree with the com!any bonus !lans
No. o- 1es"ondents 1& 12 1% 8 No. o- 1es"ondents 6 & 2 % Strong., agree )gree !ndecided (isagree Strong., disagree

Fig71- 6hows how many em!loyees agree with the com!any bonus !lans

2he data in the above table tells us that ma#ority of res!ondents <1%= are argee with the bones !lan which they are getting and <+= of res!ondents are strongly agree with this statement and <11= res!ondent are undicided and <)= are disagree$

I! "n/ c$"nge .! #eH0.#e o .m1#o4e $e wo#k.ng cond. .on

6$no

8references

No$ of /es!ondents *-

1 Hes % No

&% +

2AB@:711 6hows how many em!loyees feel to have im!rovement in wor"ing conditions

No. o- 1es"ondents

No

>

4e"

,:

-;

-+

:;

:+

,;

,+

No. o- 1es"ondents

Fig711 6hows how many em!loyees agree with the com!any !ay scale and bonus !lans

Here we can see ma3imum number of res!ondent are thin" that change is re5uire to im!rove the wor"ing condition of the com!ony o!!ortunities is that is +-P $

CONCLUSION

*1

An e3tensive review of the to!ic G6tudy of the level of #ob satisfaction among #ob wor" assigneesG it was found that the most im!ortant factors conducive to #ob satisfaction are the motivational factors. 7 G /ewards or 8ayment0 J 6u!!ortive wor"ing environment and J 2he wor" itself$ J 1or"ing hours$ J Clean and hygienic wor"ing !lace$ It was also found that the !rimary source of #ob satisfaction among Dob 1or" assignees was the sense of achievement e3!erienced by them while on the #ob$ However0 in the same study feelings of dissatisfaction were found to be stemming from the wor" itself$ 2he same and the wor" that was re!etitive in nature and not a!t according to the 5ualification of some of the em!loyees were seen also some of the ma#or factors leading to dissatisfaction were.7 G @ow !ayment J Dob tenure <& months= leading to #ob insecurity among the Dob 1or" Assignees mind the various factors leading to the #ob satisfaction and by enhancing the !rofile of #ob$:m!loyees tend to !refer #obs that give them o!!ortunities to use their s"ills and abilities and offers freedom and feedbac"$ 2hey want !ay system and !romotion !olicies that they !erceive as being #ust and ambiguous and in line with their e3!ectations$ 1hen !ay is seen as fair that is based on #ob and individual s"ills0 satisfaction is li"ely to result$ :m!loyees are also concerned with their wor" environment for both !ersonal as well as !rofessional life$ 6o finally it is concluded that the level of #ob satisfaction is there but need o be increased and maintained$

L.m. " .on

*%

2here are various limitation faced during the study as the study bis related to the human !sychology and behaviour basically$ 6ome of the !roblems faceddurig the study are.7

J while collecting the data it was noticed that most of the res!ondent were getting struc" at statement0 they were actually related to ma"e out whether the statement is related to their #ob or routine life $ J Another ma#or obstruction found the study was res!ondents were 5uite reluctant in giving their original details$ J :ven it is not noticed that some of the data entry o!erations were not even ready to fill in the 5uestionnaires0 so their res!onses were most of the time neutral$

S0gge! .on!
*&

J 2o increase satisfaction and retention of em!loyees$ J It will hel! in reducing the factors leading to absenteeism and staff turnover$ J It will hel! in generating factors which can defuse tension and im!rove wor"ing condition 1hich will ultimately lead to #ob satisfaction$ J 2he method of recruitment should be im!roved$ J 6elect the right !erson for the right #ob$ J 8romotion !olicy should be im!roved J Management should chec" the !erformance of their em!loyees time to time$ J Cverall wor" environment should also be im!roved-

8EFE8ENCES
*'

BOOK 6 /bbins 6te!hen 8 0 CrganiIational behaviour $ Beri$ ; C0 6tatistics for management0 2ata Mc;raw Hill Coo!er donal /0 6chindler 8amela 60 Business /esearch Method$ othari C /0 /esearch Methodology INTE8NET LINKS htt!.AAfindarticles$comA!AarticlesAmiR5a(&%1AisR%--'-*AaiRn%1&(1+')A!gR( htt!.AAhumanresources$about$comAodAglossaryeAaAem!loyeeRinv$htm htt!.AA#ob satisfactionS#ob satisfaction&$htm htt!.AA satisfactionS#ob satisfactionSherIberg B motivation7hygiene theory$htm htt!.AAwww$nrdc$orgAbuildinggreenAbiIcaseAownR!roductivity$as! htt!.AAwww$nh!cindia$comA:nglishA6cri!tsAAboutusRCb#ectives$as!3 htt!.AAwi"i$answers$comAOA1hyRtoRstudyRaboutRem!loyeeRsatisfaction htt!.AAwi"i$answers$comAOA1hatRisRtheRim!ortanceRofRem!loyeeRsatisfactionRin RanRorganisation

GUESTIONNAI8E

*(

SU8,EY ON EMPLOYEEIS SATISFACTION OF HDFC BANK G0e! .on!E O$1 1hat is your gender$ l Male T UUUUUUUU$$ O$& How long have you wor"ed for this com!anyK TUUUUUUUU$$ O$' How do you li"e this #obK T Female

O$% 1hat de!artment do you wor" inK

@i"e very Much

@i"e some what

Neutral

Disli"e some what

Disli"e very Much

O$( I am treated with res!ect by management and the !eo!le I wor" with$ T 6trongly Disagree T Disagree T Endecided T Agree T 6trongly Agree O$) Is there any career enhancement o!!ortunities and growth in this #ob K T o%-P7&-P o (-P7)-P Hes o &-P7'-P o above )-P T No o '-P7(-P O$* How much do you !artici!ate in decision ma"ing K

O$+ Are you satisfied with you salary levelK Highly Ensatisfied !ersonal life$ T 6trongly Disagree *) Ensatisfied Moderate 6atisfied Highly 6atisfied

O$, Management is fle3ible and understands the im!ortance of balancing my wor" and

T Disagree T Endecided T Agree T 6trongly Agree O$1- Are you agree with the com!any !ay scale and bonus !lans K

6trongly Agree

Agree

Endecided

Disagree

6trongly Disagree

O$11 Do you feel there is change re5uire in your de!artment to im!rove wor"ing conditionsK T H:6 T NC

O$1% /an" the following motivational factor according to you .7 FACTO8 T 8romotion /ecognition T Achievemant authority and res!onsibility PE8SONAL DETAIL . NAM: .7 UUUUUUUUUU$ MCBI@: NC.7 UUUUUUUUUU$ ADD/:66 CF CCMMENICA2ICN.7 UUUUUUUUUUU UUUUUUUUUU$ UU UU UU T Higher 8ANKJ& o B F& .! $.g$e! UU T /eward and

**