You are on page 1of 10

Title of the Project

A Study on Employee
Satisfaction and its Effect
on Retention for
Banking Industry in
Bangalore

so that organization can achieve its planned objective. Risk Management. • The objectives of Human Resource Department are Human Resource Planning. Employee Satisfaction and so on. Training and Development.  Cont. Retention. at the right place and right time. . Transfer and Promotion. For every organization it is important to have a right person on a right job.Executive Summary • Today. Recruitment and Selection. There are certain ways that are to be followed by every organization. in every organization personnel planning as an activity is necessary. Career planning. and positive employee morale in the workplace. Performance Appraisal. employee goal achievement. Human Resource Planning is a vital ingredient for the success of the organization in the long run. Each objective needs special attention and proper planning and implementation. which ensures that it has right number and kind of people. Employee satisfaction is the terminology used to describe whether employees are happy and contented and fulfilling their desires and needs at work. this project has been prepared to put a light on Employee Satisfaction with special reference to retention ratio or intention to stay in the organisation. It is an important part of an organization. Many measures purport that employee satisfaction is a factor in employee motivation.. • With reference to this context.

• The first chapter consists of an introduction to the project. • The fourth chapter includes the analysis and the findings revealing the extent to which employee’s intention to stay is affected by one of the four major factors taken into consideration i. • The third chapter is about the Research Methodology.e. the objectives. sampling method and measurement technique and the Limitations of the study. data collection approach. meaning. definition. Training& Development and Opinion about Superiors. scope of study and the organisational profiles. • The fifth chapter provides with certain suggestions and recommendations to the current problem in the organisation. • The second chapter consists of the literature review giving a brief about the researches and studies done previously on the same subject. . Compensation. Work Environment. • The Sixth chapter concludes the study. It was found that Compensation is the factor that is most significantly influencing the employees intention to stay.

achieve organization goals. organizations will not be able to produce business results. in terms of technology.. market location etc. but without its strong workforce to execute their respective roles and responsibilities. Without employees. depth in funding.INTRODUCTION • Workforce is a heavyweight component of any organization and therefore employees are always considered as the greatest asset of an organization. employee goal achievement. Cont… . the company would not be able to progress to meet any of its business or organizational goals. A profitmaking company may possess the strongest edge. • Employee satisfaction is the terminology used to describe whether employees are happy and contented and fulfilling their desires and needs at work. or meet its financial objectives. Most organizations recognize the importance of human resources in realizing the success of their businesses. and positive employee morale in the workplace. Many measures purport that employee satisfaction is a factor in employee motivation.

while generally a positive in your organization. .Employee satisfaction. can also be a downer if mediocre employees stay because they are satisfied with your work environment.

Scope Of the Study • • • • SCOPE OF THE STUDY The study was confined to Banking Industry in Bangalore with special reference to Employee Satisfaction & Retention (Intention to stay in the organization). The sample size of 60 respondents included both men and women across age groups. The research was designed to contact the existing employees including the top management people and collect data regarding the Level of Job Satisfaction. The study is an attempt to determine the Employee Satisfaction and its effect on retention at different banks in Bangalore region.  .

• Out of the four factors (Work Environment. The employees were quite satisfied with the current practices. • The policies. Training and Development and Superior and sub-ordinate relationship) compensation has the highest mean and thus affects the intention to stay the most. This shows the transparency of the recruiting policies of the organization. .Findings & Observation • The most significant finding of the study on Employee satisfaction and retention strategy prevailing in the organization was very effective. Cont…. Compensation. rules regarding the company were explained in a well-structured form. • 68% of the employees have been working in the organization for a long period which signifies the job security and satisfaction offered by the organization to its employees. • Both personal and professional factors affect the Employee’s intention to stay in the current organization of work indicating that work-life balance is being focused upon by the employees. • The study shows that of the employees who have put in long year of service have recruited via open competition.

and more benefits which the company offers. • The industry has been trying to infuse new blood in the organization by appointing fresh graduates and experienced candidates. good pay scales. to set a competition so as to face the competitive world. • The industry gives utmost importance to its manpower requirements by identifying it well in advance taking into consideration the contingencies. The Training & Development and planning of the manpower requirement is being done in the light of the business plans or the goals of the industry.• This study shows that 44% of the employees have joined this organization aiming for career growth. . Thus the statistics shows that the company has a positive outlook towards the career growth of its employees in addition to the other existing benefits.

• Stress should be given on proper maintenance of database of application for future retention in the organization. The employees are somewhat satisfied with the culture as for them personal and professional life affects their intention to stay. but quite another to retain them • H. Other important factors includes compensation and benefits given to employess according to their performance and non.subordinate relations and working environment. It is one thing to attract workers. However the reasons which tends to be the main factors of employees leaving the organisation are superior. so it becomes important for the industry to offer Cont… . The following are some of the suggestion and recommendations which enables the company to enhance its retention ratio.Recommendations & Suggestions • The outcome of the study illustrates that BANKING INDUSTRY has an average rating level of retention where the employees generally retain due to the prevailing environment and supporting staff. • The stress should be given on employees satisfaction . • The organization cannot develop a retention strategy without simultaneously formulating an employee retention plan. • The company should follow new traits / trends in the retention process. • As compensation comes out to be the most influential factor for the satisfaction of the employees. It is seen that intention to stay in the organisation is taken care very seriously by the employers but there is still a scope for improvement.R Department should be more practical and efficient so that the recruitment and retention become more effective. • More stress should be given to recruit qualification & skills percentage for scrutinizing the application of prospective candidates so that retention ratio will be minimal.monetary benefits.

A fair and equitable salary structure may be designed for this purpose.• compensation at par with the banking industry standards. • Monetary & Non-Monetary incentives structure can be adopted by the industries. So non monetary incentives can be given to increase the satisfaction and retention level such as: Opportunity to learn. develop and Advance as an employee. • The study revealed that the employees were not much satisfied with the non monetary incentives being offered to them. Flexible hours Recognition Timely Redressal of personal problems Healthy working environment .