International Journal of Management (IJM)

International
Volume 1 • IssueJournal
1 • Mayof2010
Management (IJM), N.MALLIKA & Dr.M.RAMESH
• pp.111-129
IJM
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JOB SATISFACTION IN BANKING: A STUDY OF
PRIVATE AND PUBLIC SECTOR BANKS

N.MALLIKA* Dr.M.RAMESH**

ABSTRACT

It is an appraisal of the perceived job characteristics and emotional experience at

work. Satisfied employees have a favourable evaluation of their job, based on their
observations and emotional experiences. Saleh (1981) states that job satisfaction is a
feeling which is a function of the perceived relationship between all that one wants
from his job/life and all that one perceives as offering or entailing. The emphasis here
is on all that one wants, whether it is important for self-definition or not. Luthans
(1989) states that job satisfaction is a pleasurable, or positive emotional state resulting
from the appraisal of one's job, or job experience, and is the result of the employee's
perception of how well the job provides those things which are viewed as important.
In this study an attempt has been made to regression and correlation analysis on job
satisfaction and variables among the public and private bank employees in Cuddalore
District, Tamil Nadu, India. In order to study the objective primary data were
collected with a sample size of 400 which was collected at randomly. A regression
and correlation methods is used for analyzing the employee’s level of job satisfaction.
The researcher has provided suitable measures to the organization for satisfying the
workers.
Key words: job satisfaction, contributing variables, banking sectors.

*Lecturer in Business Administration, Annamalai University,

**Reader in Business Administration, Annamalai University.

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INTRODUCTION
Job satisfaction describes how content an individual is with his or her job.
The happier people are within their job, the more satisfied they are said to be.
Job satisfaction is not the same as motivation, although it is clearly linked. Job design
aims to enhance job satisfaction and performance; methods include job rotation, job
enlargement and job enrichment. Other influences on satisfaction include the
management style and culture, employee involvement, empowerment and
autonomous work groups. Job satisfaction is a very important attribute which is
frequently measured by organizations. The most common way of measurement is the
use of rating scales where employees report their reactions to their jobs.

Job satisfaction in regards to one’s feeling or state of mind regarding nature of

their work. Job can be influenced by variety of factors like quality of one’s
relationship with their supervisor, quality of physical environment in which they
work, degree of fulfillment in their work, etc. Positive attitude towards job are
equivalent to job satisfaction where as negative attitude towards job has been defined
variously from time to time. In short job satisfaction is a person’s attitude towards job.
Job satisfaction is an attitude which results from balancing & summation of many
specific likes and dislikes experienced in connection with the job- their evaluation
may rest largely upon one’s success or failure in the achievement of personal
objective and upon perceived combination of the job and combination towards these
ends.
According to pestonejee, Job satisfaction can be taken as a summation of
employee’s feelings in four important areas. These are:

1. Job-nature of work (dull, dangerous, interesting), hours of work, fellow workers,

opportunities on the job for promotion and advancement (prospects), overtime
regulations, interest in work, physical environment, and machines and tools.

2. Management- supervisory treatment, participation, rewards and punishments,

praises and blames, leaves policy and favoritism.

3. Social relations- friends and associates, neighbors, attitudes towards people in

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community, participation in social activity scalability and caste barrier.

4. Personal adjustment-health and emotionality.

Job satisfaction is an important indicator of how employees feel about their

job and a predictor of work behavior such as organizational citizenship, Absenteeism,
Turnover.
Job satisfaction benefits the organization includes reduction in complaints and
grievances, absenteeism, turnover, and termination; as well as improved punctuality
and worker morale.
Job satisfaction is also linked with a healthier work force and has been found
to be a good indicator of longevity.
Job satisfaction is not synonyms with organizational morale, which the
possessions of feeling have being accepted by and belonging to a group of employees
through adherence to common goals and confidence in desirability of these goals.

Morale is the by-product of the group, while job satisfaction is more an

individual state of mind.
The concept of job satisfaction, though of considerably recent origin, is
closely linked to motivation in the workplace and is a causal factor in improved
performance in the workplace. These issues are again linked to job characteristics,
which primarily describe the inherent features of a job, which can again motivate or
de-motivate workers.
The worth of employees in the running of organizations has been analyzed and
debated by management experts, sociologists and psychologists in depth and detail. A
number of theories, most of them the result of painstaking and detailed research, are
in use to explain human psychology in the workplace, the stressors and de stressors of
a working environment, and the reasons behind employee performance, or for that
matter, the lack of it.

For all practical purposes, employee satisfaction is essential for corporate

success and all famous leaders of corporate enterprise apparently were also
exceptional leaders of men. Low attribute rates in companies is an indication of stable

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and employee friendly HR policy and a barometer of corporate well being. The onset
of higher employee turnover brings with it indications of difficult times ahead and is
considered as a serious competitive disadvantage by business and financial analysts.

The issue of job characteristics and employee satisfaction has been looked at
from a number of perspectives. One view, which is followed by many, is the
importance of money. A number of employers feel that in today’s multiple
opportunity, flexi choice, work from home environment, money is the basic reason for
a person to take up a job, furthermore that people work only for money. Companies
that pay more usually get the most applications be it at college graduation time for
new entrants to the work force, or later on for mid career shifts for middle and senior
people.

There are again many management experts and HRD specialists who feel that
the theory of money being the only real choice in an employment choice in a free
market situation has many serious limitations and indeed is deeply flawed. These
experts feel that while money is an important factor in the contemplation of an
employment decision there are a number of other factors, which also influence such
choices.

The truth is far more complex and while the cynical continue to believe in the
overwhelming supremacy of money, in its power to buy happiness and satisfaction, be
it in personal life or the workplace, a number of management thinkers, social
scientists and corporate managers feel otherwise, advocating and using distinctly
different HR philosophies and policies.

These include the understanding of need hierarchies like Abraham Maslow’s

theory of needs and ClaytonAlderfer’s ERG theory of motivation, the thinking of
Herzeberger and McClelland and the various theories of goal setting and motivational
processes. A number of organizations base their HR practices upon an understanding
of these various theories and their adaptation to the business environment. Another
variable which has come to occupy a permanent factor in HR policy making is
employee reaction to the comparatively new practice of having to spend a significant

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part of working time in front of laptops and computer screens, be it any job profile,
such is the pervasiveness of information technology in all areas of corporate life.
It is an undeniable fact that the future of business enterprise depends upon the
satisfaction level of its workforce. Dissatisfied workforces cause immediate problems
only to their particular businesses.

However, if these problems are left inadequately attended they have a

tendency to spiral out including other businesses, industries and regions harming
relationships, productivity, profits and finally also the creation of national wealth.
Employee satisfaction is thought to be one of the primary requirements of a well run
organization and considered an imperative by all corporate managements. The last
five years of globalization, the rise of the Chinese economy as the world’s cheapest
manufacturing destination, the gradual pervasiveness of the internet and the
emergence of outsourcing on a global scale have shaken up years of corporate
practices in both manufacturing and service sectors of the economy.

STATEMENT OF THE PROBLEM

Due to globalization, today’s world has become a single village. And never had it
been before and after people interacting to one another without considering their
culture, value, norms, attitudes and race, as it today. These interactions are not only in
trade, diplomatic, social political and communication network, but also in banking
sector rather the needs and motivation as for as and all these make a today’s world
more competitive and challenging than never before. Never before has it been so,
working performance has been drive by needs and motivation so as to satisfy
employees. In order to satisfy employees there is a number of things’s or factors to
consider. Therefore, this study will investigate as to what extent job satisfaction has
lead to good working performance in formal organization .The study will examine the
factors which influence employee’s job satisfaction in organization.

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OBJECTIVES OF THE STUDY

1. To measure the level of job satisfaction among public and private bank
employees.
2. To find out the factors contributing towards the job satisfaction of public and
private bank employees.

3. To find out relationship between job satisfaction and contributing variables.

REVIEW OF LITERATURE

Dekker et al., (1996) examined the relationship between work force size and
job satisfaction using data from two National surveys in US and Canada. The US
sample consisting of 8,428 employees (aged 23-30) and assessed for job satisfaction
with pay, promotion opportunities, job security, physical surrounding and supervisor
competence. The number of benefits offered by the organization was tested as a
mediator of these relationships. This was positively related to job satisfaction with job
security pay and promotion opportunities. When the effect of benefit was controlled
for these relationships, they were not satisfactorily significant. Work force size was
negatively related to satisfaction with supervisor competence and having the
opportunity to do one’s best results.

Christopher and Nathan (1996) examined the role of employee perceptions of

justice in the relationship between job satisfactions of organizational commitment.
Four competing models, liking employee satisfaction commitment were identified
from the literature: (I) job satisfaction is antecedent to organizational commitment (II)
organizational commitment is an antecedent job satisfaction (III) organizational
commitment and job satisfaction are reciprocally related and (IV) organizational
commitment of job satisfaction are independent. The 4 models were then tested
employing confirmatory analytic techniques of a sample of 133 financial services
company employees. The result suggests that when considering the role of justice
judgments, satisfaction and commitment are causally independent.

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Khaled et al., (1994) used responses from a questionnaire administered to 442

employees of Saud-Arabia organization to examine the predictive strength of job
satisfaction, organizational commitment, value commitment, and continuance
commitment with respect to turnover. Each of these variables predicted turnover
significantly. When compared with each other, organizational commitment correlated
significantly with turnover more than job satisfaction and value commitment,
continuance commitment was not as strong in its prediction as expected.

Results indicate that expressive orientation has a significant impact on job

satisfaction in addition to multiplying the impact of job commitment on job
satisfaction. Expressive orientation, professional commitment, and job commitment
were found to have positive relationships with job satisfaction, and their inclusion in
the model significantly improved its predictive capacity. Expressive orientation also
appears to protect workers from the negative effects of bureaucratic and client
frustrations. These findings have strong policy implications for those who manage
social service. Efforts should be made to select workers who are expressive and
professionally oriented, and professionalism should be encouraged. Evidence is
presented that the presumption by management that pay is unimportant to social
service workers makes them feel exploited and lowers their job commitment.

Caudron (2001) has pointed out that in booming economy employees have
enough option to find better jobs and if they start thinking that they can do better at
other companies, their job dissatisfaction rises. As today’s employees are not only
looking solely for huge financial rewards as they can easily satisfy their basic needs
such as food and clothing but also they are looking for their job to provide the
friendships, family support, community, and sense of identity.

Jain, Jabeen, et. al. (2007), in their study "Job Satisfaction as Related to
Organizational Climate and Occupational Stress: A Case Study of Indian Oil"
concluded that that there is no significant difference between managers and engineers
in terms of their job satisfaction and both the groups appeared almost equally satisfied
with their jobs. When the managers and engineers were compared on organizational
climate, it was found that both the groups differed significantly. Managers scored

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significantly high on organizational climate scale than the engineers indicating that
the managers are more satisfied due to the empowerment given to them.

Velnampy (2008), in his study "Job Attitude and Employees Performance of

Public Sector Organizations in Jaffna District, Sri Lanka" concluded that job
satisfaction does have impact on future performance through the job involvement, but
higher performance also makes people feel more satisfied and committed. It is a cycle
of event that is clearly in keeping with the development perspective. Attitudes such as
satisfaction and involvement are important to the employees to have high levels of
performance. The results of the study revealed that attitudes namely satisfaction and
involvement, and performance are significantly correlated.

Brown, Forde, et. al. (2008), in their study "Changes in HRM and job
satisfaction, 1998–2004: evidence from the Workplace Employment Relations
Survey" examined that their significant increases in satisfaction with the sense of
achievement from work between 1998and 2004; a number of other measures of job
quality are found to have increased over this period as well. It also finds a decline in
the incidence of many formal human resource management practices. The paper
reports a weak association between formal human resource management practices and
satisfaction with sense of achievement. Improvements imperceptions of job security,
the climate of employment relations and managerial responsiveness are the most
important factors in explaining the rise in satisfaction with sense of achievement
between 1998 and 2004. We infer that the rise in satisfaction with sense of
achievement is due in large part to the existence of falling unemployment during the
period under study, which has driven employers to make improvements in the quality
of work.

Shahu & Gole (2008), in their study "Effect of Job satisfaction on

Performance: An Empirical Study" concluded that the companies that are lagging
behind in certain areas of job satisfaction & job stress need to be developed so that
their employees show good performance level, as it is provided that performance level
lowers wit high satisfaction scores. The awareness program pertaining to stress &
satisfaction is to be taken up in the industries to make them aware of the benefits of

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knowledge of stress and its relationship with satisfaction and achievement of goal of
industries.

Job Satisfaction is in regard to one's feeling or state-of-mind regarding the

nature of their work. Job Satisfaction can be influenced by a variety of factors, eg, the
quality of one’s relationship with their supervisions, the quality of the physical
environment in which they work, degree of their fulfillment in their work etc.

RESEARCH METHODOLOGY

This chapter describes methodological produces that will be adopted by the

researcher in collecting relevant information on the research topic and analysis of the
data.
RESEARCH DESIGN

A research design is the arrangement of conditions for collections and

analysis of data in a manner that aims to combine relevance to the research purpose
with the economy in procedure. Descriptive research design was adopted in order to
achieve the objectives of the study. This type of research design is more flexible to
carry out the research. The design provides the opportunity for considering different
aspects of the problem. The researcher adopted the method of experience survey to
collect the data.

SAMPLING SIZE
Subjects of the present study were selected from managerial and non-
managerial staff of public and private sector banks from Cuddalore District,
Tamilnadu. India. Three public sector banks and three private sector banks were
selected for the study. A total of 400 subjects were selected equally from the six
organisations selected for the study.

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METHOD OF DATA COLLECTION

The data collection pertaining to this study involves both primary and
secondary methods. The primary data was collected using questionnaire from
randomly selected samples. The secondary data were collected from sources like
manuals, company records, magazines and internet.

ANALYSIS
Table: 1. Level of job satisfaction among employees in public banks
Public sector banks

Level job satisfaction Frequency Percent

Low 03 1.5
Medium 77 38.5
High 120 60.0
Total 200 100.0

Table: 2 Level of job satisfaction among employees in private banks

Private sector banks

Level job satisfaction Frequency Percent

Low 65 32.5
Medium 133 66.5
High 02 1.0
Total 200 100.0

Public sector banks:

Job satisfaction is a combination of psychological, physiological and
environmental conditions providing satisfaction to person with his job. The job
satisfaction perceived by the employees based on the opinion. Among the employees
in the opinion, 1.5 percent of the employees have state that the job satisfaction is Low,
38.5 percent of the employees have stated that the job satisfaction is Medium and 60
percent of them state that the job satisfaction is high. At outset it is implied that
majority of the employees perceive high level of job satisfaction, very few employees
perceive medium and low level of job satisfaction. It is interesting to note that only

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minimum percent of the employees low level of job satisfaction. It is a good sign and
it indicates that the organization has better environment for the public bank employees
to job.

Private sector banks:

The job satisfaction perceived by the employees based on the opinion. Among
the employees in the opinion, 32.5 percent of the employees have state that the job
satisfaction is Low, 66.5 percent of the employees have stated that the job satisfaction
is Medium and 1 percent of them state that the job satisfaction is high. At outset it is
implied that majority of the employees perceive medium and low level of job
satisfaction, very few employees perceive high level of job satisfaction. So
organizations try to concentration on employees need in private banks.

Table: 3. Relationship between job satisfaction and contributing variables

among public sector banks
Public sector banks

JI OC QWL OCLIM JC

Pearson 0.360** 0.436** 0.080 0.232** 0.004

correlation

JS Significant 0.000 0.000 0.260 0.001 0.959

(2-tailed)

N 200 200 200 200 200

JS: job satisfaction, JI: job involvement, OC: organizational commitment,

QWL: quality of work life, OCLIM: organizational climate and JC: job content.

The result shows that the job involvement (0.360) is positively and
significantly correlated with job satisfaction and organizational commitment (0.436)
and organizational climate (0.232). The R-value 0.436 from the table for

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organizational commitment of employees is highly influenced by job satisfaction. So

it is inferred that job satisfaction is highly correlated with organizational commitment,
job involvement and organizational climate among public bank employees will also
be high. The other variables are job content (0.004) and quality of work life (0.080)
not significantly correlated with job satisfaction. From the correlation table it is found
that there is significant relationship between the job satisfaction and job involvement,
organizational commitment and organizational climate, except job content and quality
of work life.

The findings of the study go hand in hand with the early research done by
Penny Wright (1990) analyzed job satisfaction in relation to organizational
commitment based on the sample of 264 Bank tellers. This study identified that
different job characteristics are found to be associated with job satisfaction and
organizational commitment. In the case of career of tellers, job satisfaction and
organizational commitment are enhanced by participation in decision making, job
challenge and promotional opportunities. In people oriented tellers, job satisfaction
and organizational commitment had affected positively through a cohesive and
effective association.

Khaladetal (1994) administered to 442 employees of a Saudi Arabian

organization to examine job satisfaction, organization commitment; values
commitment and continues commitment with respect to turnover. Each of these
variables predicted the turnover significantly. When compared with each other
organized commitment correlated significantly with job satisfaction and value
commitment.

Christopher and Nathan (1996) examined the role of employee perceptions of

justice in the relationship between job satisfactions of organizational commitment.
Four competing models, liking employee satisfaction commitment were identified
from the literature: (I) job satisfaction is antecedent to organizational commitment (II)
organizational commitment is an antecedent job satisfaction (III) organizational
commitment and job satisfaction are reciprocally related and (IV) organizational
commitment of job satisfaction are independent. The 4 models were then tested

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International Journal of Management (IJM), N.MALLIKA & Dr.M.RAMESH

employing confirmatory analytic techniques of a sample of 133 financial services

company employees. The results suggest that when considering the role of justice
judgments, satisfaction and commitment are causally independent.
Verma and Upadhayay (1986) in their study reported a positive correlation
between job involvement and organizational commitment. They also observed that
there was a significant relationship between job satisfaction and job involvement.

Table: 4. Relationship between job satisfaction and contributing variables

among private sector banks
Private sector banks

JI OC QWL OCCLIM JC

Pearson 0.287** 0.246** 0.326** 0.138 0.142*

correlation

JS Significant 0.000 0.000 0.000 0.052 0.045

(2-tailed)

N 200 200 200 200 200

JS: job satisfaction, JI: job involvement, OC: organizational commitment,

QWL: quality of work life, OCCLIM: organizational climate and JC: job
content.
The result shows that the job involvement (0.287) is positively and
significantly correlation with job satisfaction and quality of work life (0.326),
organizational commitment (0.246) and job content (0.142). The R-value 0.326 from
the table for quality of work life and job satisfaction clearly implies that quality of
work life of employees is highly influenced by job satisfaction. So it is inferred that
job satisfaction is highly correlated with quality of work life. Quality of work life
among the private bank employees will also be high. The dimension of organizational
climate 0.138 is not significant correlated with job satisfaction. From the correlation
table it is found that there is significant relationship between job satisfaction and job
involvement, quality of work life, organizational commitment, and job content, except
organizational climate among the private bank employees.

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Table: 3. Stepwise multiple Regression Analysis for the Job Satisfaction and
contributed variables among public sector bank employees.
Public sector banks
Details R R2 Adjusted S.E F- Significant
regarding R2 Value
contributed
variables
Organizational 0.436 0.190 0.186 0.46399 46.420 0.000
commitment
Income 0.507 0.257 0.249 0.44554 34.040 0.000

Job 0.526 0.277 0.266 0.44067 24.992 0.000

involvement

A stepwise regression analysis explains about contributing variables among

bank employees. It is observed that the organizational commitment, income and job
involvement significantly contribute towards the job satisfaction. The compute F-
value for these factors is found to be significant at 1 percent level. The R2 value 0.190
organizational commitment is indicate that highest percentage of variances on job
satisfaction could be determined by these factors. The R2 value 0.067 and 0.02
indicate that income and job involvement are the most contributed variables for the
job satisfaction among the bank employees.
Table: 4 Job satisfaction and outcome variables among public sector bank
employees
Public sector banks
Coefficients
Un standardized Standardized t – value Significant
Coefficients Coefficients
B Std. Error Beta
(Constant) -1.485 0.509 -2.919 0.004
Organizational 0.019 0.004 0.324 4.669 0.000
commitment

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Income 0.153 0.039 0.244 3.944 0.000

Job 0.011 0.005 0.162 2.320 0.021
involvement

A stepwise regression analysis was performed keeping job satisfaction as the

dimensions of organizational commitment, income and job involvement as
independent variables. It is found that among the organizational commitment, income
and job involvement is found to significantly influence the job satisfaction.
Organizational commitment (0.324) highly influencing the job satisfaction and job
involvement (0.162) least influencing the job satisfaction.
Table: 5 Stepwise multiple Regression Analysis for the Job Satisfaction and
contributed variables among private sector bank employees.
Private sector banks

Details R R2 Adjusted S.E F- Significant

2
regarding R Value
contributed
variables
Quality of 0.326 0.106 0.102 0.46134 23.556 0.000
work life
Job 0.369 0.136 0.127 0.45482 15.477 0.000
involvement

A stepwise regression analysis explains about contributing variables among

bank employees. It is observed that the quality of work life and job involvement
significantly contribute towards the job satisfaction. The compute F-value for these
factors is found to be significant at 1 percent level. The R2 value 0.102 quality of
work life is indicate that highest percentage of variances on job satisfaction could be
determined by these factors. The R2 value 0.025 indicates that job involvement is the
most contributed variables for the job satisfaction among the private sector bank
employees.

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Table: 6 Job satisfaction and outcome variables among private sector bank
employees

Private sector banks

Coefficients
Un standardized Standardized t – value Significant
Coefficients Coefficients
B Std. Error Beta
(Constant) 0.376 0.238 1.582 0.115
Quality of 0.018 0.005 0.252 3.496 0.001
work life
Job 0.009 0.004 0.187 2.592 0.010
involvement

Table: 6 a stepwise regression analysis was performed keeping job

satisfaction as the dimensions of quality of work life and job involvement as
independent variables. It is found that among the quality of work life and job
involvement is found to significantly influence the job satisfaction. Quality of work
life (0.252) highly influencing the job satisfaction and job involvement (0.187) least
influencing the job satisfaction.

MANAGERIAL IMPLICATIONS
The study implies that the overall job satisfaction by the bank employees is
medium. The contributing variable like job involvement, organizational commitment
and organizational climate is found and significantly influence the job satisfaction
perceived by the employees. It is also observed that organizational climate least
influences the job satisfaction perceived by the employees.

SUGGESTIONS
The job satisfaction depends up on the feeling of employees about their
working environment. When their physical and psychological environment is
conducive they will perceive a good job satisfaction. Some of the ways through which
the job satisfaction can be improved are

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1. It has been found that employees of private sector banks were less satisfied with
their jobs compared to employees of public sector banks. To increase their
satisfaction, private sector banks need to improve job security.
2. Relationship with co-workers and supervisors makes the employees to feel better
and it help to increase productivity and responsibility of workers and it helps to
increase profit of the organization.
3. It was found that level of job satisfaction, job involvement, organizational
commitment, quality of work life, organizational climate and job content for
private bank employees are not satisfied with job. So the private banking sectors
try to consider the respondents needs and fulfill the same.

4. At outset it is implied that majority of the private bank employees perceive

medium and low level of job satisfaction, very few employees perceive high level
of job satisfaction. So organizations try to concentration on employees need in
private banks.
CONCLUSION
Job satisfaction, its causal factors and its effect upon organisational health are
all part of the various factors under study for this assignment. Job satisfaction for an
individual can be influenced by a number of factors that include first the job itself,
the salary, the promotion policy of the company, the attitudes of the coworkers, the
physical and mental stress levels involved, the working conditions, the interest and
challenge levels. Higher job satisfaction has been linked with employees who are
able to exercise autonomy and with those who have a higher level of job involvement
Women have been found to report significantly higher job Satisfaction than men
although this gender gap appears to be narrowing. The correlation coefficient shows a
positive relationship existing among. Organizational commitment, job involvement,
quality of work life, organizational climate, job content, income and job satisfaction
perceived by public and private bank employees. Researcher found that private bank
employees perceived low level of job satisfaction. So management try to
concentration on employee satisfaction level, it is help to increase pay, promotion,
job security, rewards and reduce work load ect., and also observed that public bank
employees are very satisfied with job.

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