RESEARCH REPORT ON “ A COMPAR COMPARAT ATIVE IVE STUDY OF WORK LIFE BALANCE OF EMPLOYEE'S JOB SATISFACTION IN PRIVATE AND PUBLIC BANKS IN MATHURA REGION”
SUBMITTED IN THE PARTIAL FULFILLMENT TOWARDS THE AWARD OF MASTER OF BUSINESS ADMINISTRA ADMINISTRATION TION
(2012 – 14)
UNDER THE SUPERVISION OF
SUBMITTED BY,
Ms. SHEFALI SHEFALI GARG ASHUTOSH MISHRA (128410029) (128410029 ) HARSHITA GURU (12841002)
INSTITUTE OF BUSINESS MANAGEMENT GLA UNIVERSITY, MATHURA
DE!LARATION
This is to certify that Report entitled “A COMPARATIVE STUDY O !OR" #IE $A#A%CE O EMP#OYEE&S 'O$ SATISACTIO% I% PRIVATE A%D PU$#IC $A%"S( )hich is s*+,itted +y ,e to)ards partial f*lfill,ent for the re-*ire,ent of the a)ard of de.ree ,aster of +*siness ad,inistration fro, / # A Uni0ersity MAT1URA A%D VARI%DAVA% co,prises only ,y ori.inal )or2 and d*e ac2no)led.e,ent has +een ,ade in the te3t to all other ,aterial *sed4
Date: MISHRA
ASHUTOSH
!HAPTER " 1 INTRODU!TION
INTRODU!TION
!or25life +alance is a concept incl*din. proper prioriti6in. +et)een 7)or27 and 7lifestyle74 !or28life +alance is ha0in. eno*.h ti,e for )or2 and eno*.h to ha0e a life9 th*s the )or2 life +alance4 Related9 tho*.h +roader9 ter,s incl*de 7lifestyle +alance7 and 7life +alance74 In today&s )or2 en0iron,ent a +etter +alance +et)een )or2 and life is increasin.ly desired +y )or2ers4 Desire for a +etter )or25life +alance has +eco,e one of the .ro)in. concerns in conte,porary society E,ployees report that they are ,ore prod*cti0e and ,ore en.a.ed in their )or2 )hen there are a+le to +alance the de,ands of )or2 )ith other aspects of their li0es4 I,pro0e,ents in physical and ,ental health are also associated )ith )or2place fle3i+ility4 $elo) is e0idence lin2in. fle3i+le )or2 options to e,ployee and fa,ily )ell5+ein.4 !or2 life and personal life are the t)o sides of the sa,e coin4 Accordin. to 0ario*s )or2 :life +alance s*r0eys9 ,ore than ;<= of the respondent professionals s*r0eyed said that are not a+le to find a +alance +et)een their personal and professional li0es4 The paper hi.hli.hts ho) e,ployee +alances the professional life and personal life in hectic )or2 en0iron,ent4 They ha0e to ,a2e to*.h choices e0en )hen their )or2 and personal life4 /i0in. eno*.h ti,e to fa,ily has +eco,e .reater concern for e,ployees in the ,odern corporate )orld and e,ployers also sho*ld thin2 )hat sho*ld +e done to 2eep e,ployees free of fa,ily iss*es and concentrate on )or24 Traditionally creatin. and ,ana.in. a +alance +et)een the )or25life )as considered to +e a )o,en&s iss*e4 $*t increasin. )or2 press*res9 .lo+ali6ation and technolo.ical ad0ance,ent ha0e ,ade it an iss*e )ith +oth the se3es9 all professionals )or2in. across all le0els and all ind*stries thro*.ho*t the )orld4 Achie0in. “)or25life +alance( is not as si,ple as it so*nds4 !or2 life and personal life are inter5connected and interdependent4 Spendin. ,ore ti,e in office9 dealin. )ith clients and the press*res of >o+ can interfere and affect the personal life9 so,eti,es ,a2in. it i,possi+le to e0en co,plete the ho*sehold chores4 On the other hand9 personal life can also +e de,andin. if yo* ha0e a 2id or a.in. parents9 financial pro+le,s or e0en pro+le,s in the life of a dear relati0e4 It can lead to a+senteeis, fro, )or29 creatin. stress and lac2 of concentration at )or24 This paper is a yet another atte,pt a.ainst the hi.hly increasin. )or2 ho*rs that Indian or.ani6ations see, to de,and and e3pect in the co*rse of ti,e and )hat pro+le,s are faced +y e,ployees )or2in. in +an2s and ho) they can +e enco*ntered44
research sho)s that fle3i+le )or2 arran.e,ents ,ay red*ce stress +eca*se e,ployees )or2in. fle3i+ly are ,ore satisfied )ith their >o+s9 ,ore satisfied )ith their li0es9 and e3perience +etter )or25fa,ily +alance4 O0erall9 e,ployees )ho ha0e a hi.h )or25life fit fare ,*ch +etter than e,ployees )ho ha0e ,oderate or lo) le0els of )or25life fit4 They are ,ore hi.hly en.a.ed and less li2ely to loo2 for a ne) >o+ in the ne3t year9 and they en>oy +etter o0erall health9 +etter ,ental health9 and lo)er le0els of stress4 Participation in for,al arran.e,ents that in0ol0e fle3ti,e pro,otes a sense a,on. )or2ers that they ha0e the discretion to fit >o+5related responsi+ilities into their +roader li0es9 and this discretion contri+*tes to less stress and +*rno*t Si,ilarly9 a st*dy of e,ployees in a lar.e ,*ltinational co,pany fo*nd that .reater le0els of fle3i+ility )ere associated )ith +etter health? that is9 )ith less self5reported stress and strain9 and +etter physical health4 Spillo0er is a process +y )hich attit*des and +eha0ior carry o0er fro, one role to another4 Spillo0er +et)een )or2 and fa,ily life can +e re.arded as ne.ati0e @i4e49 )or25fa,ily conflict or positi0e @)or25fa,ily enhance,ent4 7These t)o di,ensions of spillo0er ,i.ht co5e3ist to so,e de.ree4 or e3a,ple9 a >o+ that pro0ides a hi.h de.ree of ne.ati0e spillo0er in the for, of lon. ho*rs and psycholo.ical stress carryo0er into ho,e life9 at the sa,e ti,e9 co*ld pro0ide a hi.h de.ree of positi0e spillo0er in the for, of fa,ily financial sec*rity and opport*nities for personal .ro)th that ,a2e for a +etter fa,ily ,e,+er47 The %ational St*dy of the Chan.in. !or2force @%SC! cond*cted +y the a,ilies and !or2 Instit*te fo*nd that e,ployees in ,ore fle3i+le )or2places e3hi+ited less ne.ati0e spillo0er +et)een )or2 and fa,ily life4 This )as fo*nd to ha0e +enefits for +oth e,ployers and e,ployees4 B
or e,ployers? less ne.ati0e spillo0er fro, life off the >o+ to )or2 that i,pairs prod*cti0ity
B
or e,ployees? less ne.ati0e spillo0er fro, )or2 to life off the >o+ that red*ces the -*ality of personal and fa,ily life4
A ,eta5analysis of ;< p*+lished st*dies in the United States and Canada sho)ed that e,ployees )ho ha0e hi.her >o+ in0ol0e,ent or >o+ stress or spend ,ore ti,e at )or2 ha0e ,ore )or2 interference )ith their fa,ily life than fa,ily interference )ith their )or24 1o)e0er9 e,ployees )ho had ,ore sched*le fle3i+ility at )or2 e3perienced less spillo0er of )or2 stress into the ho,e4 !or25fa,ily +alance has t)o di,ensions? )or2 interference )ith fa,ily and fa,ily interference )ith )or24 Characteristics of the >o+ and the )or2place can
ha0e a positi0e or ne.ati0e effect on fa,ily life9 )hile aspects of an e,ployees fa,ily sit*ation can affect the e,ployees perfor,ance and attit*des to)ard )or24 @$yron9 <o+ and fa,ily satisfaction9 follo)ed +y .reater o0erall life satisfaction4
#$%& '* ss+*s
The E3tension or.ani6ation has a lon. tradition of professional ser0ice to clientele9 often at a cost of sacrifice to fa,ily and self4 The res*lts of a national st*dy indicated that )or2:life iss*es are of .reat concern4 E,ployees identified the ,ost critical )or2:life challen.es as? G a hea0y )or2 load9 e0enin. and )ee2end ti,e co,,it,ents9 and H lac2 of control or >o+ a*tono,y4 The reco,,endations9 +ased on this st*dy9 *r.ed E3tension ad,inistrators thro*.ho*t the or.ani6ation to red*ce the )or2load and ti,e re-*ire,ents of co*nty5+ased professionals and contended that policies needed to +e consistent )ithin the national E3tension syste,4
DEFINITION OF BANK The O3ford dictionary defines the $an2 as9 “An esta+lish,ent for the c*stody of ,oney9 )hich it pays o*t9 on a c*sto,er&s order4( A -& is a financial instit*tion and a financial inter,ediary that accepts deposits and channels those deposits into lendin. acti0ities9 either directly +y loanin. or indirectly thro*.h capital ,ar2ets4 A +an2 lin2s to.ether c*sto,ers that ha0e capital deficits and c*sto,ers )ith capital s*rpl*ses4 D*e to their infl*ential stat*s )ithin the financial syste, and *pon national econo,ies9 +an2s are hi.hly re.*lated in ,ost co*ntries4 Most nations ha0e instit*tionalised a syste, 2no)n as fractional reser0e +an2in.9 in )hich +an2s hold only a s,all reser0e of the f*nds deposited and lend o*t the rest for profit4 They are .enerally s*+>ect to ,ini,*, capital re-*ire,ents +ased on an international set of capital standards9 2no)n as the $asel Accords4 $an2in. in its ,odern sense e0ol0ed in the Gth cent*ry in the rich cities of Renaissance Italy +*t in ,any )ays )as a contin*ation of ideas and concepts of credit and lendin. that had its roots in the ancient )orld4 In the history of +an2in.9 a n*,+er of +an2in. dynasties ha0e played a central role o0er ,any cent*ries4
PUBLIC SECTOR BANKS
P*+lic sector +an2s are those +an2s that are o)ned +y the .o0ern,ent4 The .o0ern,ent o)ns these +an2s4 In India < +an2s )ere nationali6ed in GJ;Jand GJK< respecti0ely4 Social )elfare is there ,ain o+>ecti0e4
PRIVATE SECTOR BANKS
These +an2s are those +an2s that are o)ned and r*n +y pri0ate sector4 An indi0id*al has control o0er these +an2s in proportion to the shares of the +an2s held +y hi,4
BAN/S PROFILEPRIVATE SE!TOR BAN/
ICICI BANK ICICI $an2 )as esta+lished +y the Ind*strial Credit and In0est,ent Corporation of India9 an Indian financial instit*tion9 as a )holly o)ned s*+sidiary in GJFF4 The parent co,pany )as for,ed in GJFF as a >oint50ent*re of the !orld $an29 Indias p*+lic5sector +an2s and p*+lic5sector ins*rance co,panies to pro0ide pro>ect financin. to Indian ind*stry4 The +an2 )as initially 2no)n as the Industrial Credit and Investment Corporation of India Bank 9 +efore it chan.ed its na,e to the a++re0iated ICICI Bank 4 The parent co,pany )as later ,er.ed )ith the +an24 ICICI $an2 la*nched internet +an2in. operations in GJJK4 ICICIs shareholdin. in ICICI $an2 )as red*ced to ; percent9 thro*.h a p*+lic offerin. of shares in India in GJJK9 follo)ed +y an e-*ity offerin. in the for, of A,erican Depositary Receipts on the %YSE in <<<4 ICICI $an2 ac-*ired the Bank of Madura Limited in an all5stoc2 deal in <ect finance to a di0ersified financial ser0ices .ro*p9 offerin. a )ide 0ariety of prod*cts and ser0ices9 +oth directly and thro*.h a n*,+er of s*+sidiaries and affiliates li2e ICICI $an24 In GJJJ9 ICICI +eco,e the first Indian co,pany and the first +an2 or financial instit*tion fro, non5'apan Asia to +e listed on the %YSE4 In <<<9 ICICI $an2 +eca,e the first Indian +an2 to list on the %e) Yor2 Stoc2 E3chan.e )ith its fi0e ,illion A,erican depository shares iss*e .eneratin. a de,and +oo2 GH ti,es the offer si6e4 In Octo+er <
in 'an*ary <<9 +y the 1i.h Co*rt of /*>arat at Ah,eda+ad in March << and +y the 1i.h Co*rt of '*dicat*re at M*,+ai and the Reser0e $an2 of India in April <<4 In <
ICICI $an2 is Indias lar.est pri0ate sector +an2 )ith total assets of Rs4 F9H;L4JF +illion @US JJ +illion at March HG9
STATE BANK OF INDIA
The roots of the State $an2 of India lie in the first decade of GJth cent*ry9 )hen the $an2 of Calc*tta9 later rena,ed the $an2 of $en.al9 )as esta+lished on '*ne GK<;4 The $an2 of $en.al )as one of three Presidency +an2s9 the other t)o +ein. the $an2 of $o,+ay @incorporated on GF April GK< and the $an2 of Madras @incorporated on G '*ly GKH4 All three Presidency +an2s )ere incorporated as >oint stoc2 co,panies and )ere the res*lt of the royal charters4 These three +an2s recei0ed the e3cl*si0e ri.ht to iss*e paper c*rrency till GK;G )hen )ith the Paper C*rrency Act9 the ri.ht )as ta2en o0er +y the /o0ern,ent of India4 The Presidency +an2s a,al.a,ated on L 'an*ary GJG9 and the re5or.anised +an2in. entity too2 as its na,e I,perial $an2 of India4 The I,perial $an2 of India re,ained a >oint stoc2 co,pany +*t )itho*t /o0ern,ent participation4 P*rs*ant to the pro0isions of the State $an2 of India Act of GJFF9 the Reser0e $an2 of India9 )hich is Indias central +an29 ac-*ired a controllin. interest in the I,perial $an2 of India4 On G '*ly GJFF9 the I,perial $an2 of India +eca,e the State $an2 of India4 In <
esta+lished in GJG; in /)alior State9 *nder the patrona.e of Mahara>a Madho Rao Scindia4 The +an2 had +een the Dukan Pichadi9 a s,all ,oneylender9 o)ned +y the Mahara>a4 The ne) +an2s first ,ana.er )as 'all %4 $roacha9 a Parsi4 In GJKF9 S$I ac-*ired the $an2 of Cochin in "erala9 )hich had G< +ranches4 S$I )as the ac-*irer as its affiliate9 the State $an2 of Tra0ancore9 already had an e3tensi0e net)or2 in "erala S-* B-& $ I3- has an e3tensi0e ad,inistrati0e str*ct*re to o0ersee the lar.e net)or2 of +ranches in India and a+road4 The Corporate Centre is in M*,+ai and G #ocal 1ead Offices and FL onal Offices are located at i,portant cities spread thro*.ho*t the co*ntry4 The Corporate Centre has se0eral other esta+lish,ents in and o*tside M*,+ai9 desi.nated to cater to 0ario*s f*nctions4 O*r Colle.es:Instit*tes:Trainin. Centres are the seats of learnin. and research and de0elop,ent to spread the )in.s of 2no)led.e not only to o*r e,ployees +*t also other +an2s:esta+lish,ents in India and a+road4
The Corporate Acco*nts /ro*p is a Strate.ic $*siness Unit of the $an2 set *p e3cl*si0ely to f*lfil the specialised +an2in. needs of top corporates in the co*ntry4 State $an2 of India has GJG forei.n offices in H; co*ntries across the .lo+e4 State $an2 of India in0ites yo* to ta2e a >o*rney to *nderstand the potential of not >*st a lar.e +*t tr*ly .lo+al or.anisation4 The $an2 is acti0ely in0ol0ed since GJLH in non5profit acti0ity called Co,,*nity Ser0ices $an2in.4 All o*r +ranches and ad,inistrati0e offices thro*.ho*t the co*ntry sponsor and participate in lar.e n*,+er of )elfare acti0ities and social ca*ses4 O*r +*siness is ,ore than +an2in. +eca*se )e to*ch the li0es of people any)here in ,any )ays4
NEED OF STUDY
Psycholo.ists define life +alance as a di0ision of ener.y +et)een the different aspects of a persons life9 especially fa,ily9 friends and )or24 A fe) dri0en indi0id*als are happiest )hen foc*sed on one ele,ent of their li0es9 +*t ,ost people need to find a +alance4 Too ,*ch e,phasis on )or2 fre-*ently res*lts in feelin.s of loneliness and fr*stration4 $*t not eno*.h e,phasis on )or2 pre0ents yo*r e,ployees fro, ad0ancin. and yo* fro, .ettin. needed )or2 done4 Ac2no)led.in. each e,ployees efforts to stri2e a +alance allo)s yo* to +e part of the sol*tion4 'o+ satisfaction typically increases )ith i,pro0ed life +alance9 )hich in t*rn increases e,ployee loyalty9 creati0ity and prod*cti0ity4
OBE!TIVE OF THE STUDY
•
•
•
To find o*t the factors affectin. of )or2 life +alance on >o+ satisfaction4 To st*dy the )ay to i,pro0e -*ality of )or2 life in p*+lic and pri0ate sector +an2s4 To .ain an insi.ht into c*rrent )or2in. ti,e policies and practices9 as )ell as )or25life +alance4 To find o*t the +alance +et)een the e,ployees personal life as )ell as professional )or2 life4
5
LITERATURE REVIEW
The literat*re on !or25life +alance )ith different prospecti0e are st*died and a0aila+le9 in recent years9 there has +een an increased interest in )or2 fa,ily interface in the h*,an reso*rce ,ana.e,ent literat*re9 especially re.ardin. the so*rces and o*tco,es of conflict +et)een these t)o spheres4 A n*,+er of st*dies ha0e addressed this iss*e fro, different perspecti0es4 /reenha*s and $e*tell @GJKF and /reenha*s et al4 @GJKJ e3a,ined the antecedents of conflict +et)een fa,ily and )or29 /oodstein @GJJ and In.ra, and Si,ons @GJJF presented an instit*tional perspecti0e on or.ani6ations responses to )or25fa,ily iss*es4 In addition9 Ca,p+ell9Ca,p+ell and "ennard @GJJ ha0e st*died the effects of fa,ily responsi+ilities on the )or2 co,,it,ent and >o+ perfor,ance of )o,en4 The )or25fa,ily iss*e is e0en f*rther e3panded to address the relationship of +*siness5,arria.e partners @oley Q Po)ell9 GJJL4 Re++ecca $*ndh*n -*otes in The %ational @<
an indi0id*als priorities )hereas e,ployees ,*st dra) a fir, line +et)een their ho,e and )or2 li0es and +e confident that the line is in the ri.ht place @1ar0ard $*siness Re0ie)9 pa.eGK4 1y,an and S*,,ers @<< classified se0en ,a>or pro+le,s )hich are associated )ith c*rrent practices o0er )or25life +alance these are *ne0enness of adoption across different sectors and or.ani6ations9 lac2 of for,ali6ation of policies at or.ani6ational le0el9 restricted e,ployee 0oice o0er the introd*ction and i,ple,entation of policies 9 policies are pri,arily to ,eet +*siness needs rather than those of e,ployees9 there is no e0idence of red*ction in )or2in. ho*rs9 tan.i+le and intan.i+le )or2 intr*sions into do,estic life 9 do,estic responsi+ilities are still cond*cted pri,arily +y )o,en irrespecti0e of their e,ploy,ent stat*s4 Researcher Vloe+er.hs @<< re0ealed that there is a need for a practical instr*,ent to ,eas*re the present sit*ation of )or25 life +alance4 1o)e0er9 as re0ealed +y the researchers Ei2hof et4 al4 @<oy leis*re and i,a.e of the retire,ent years4 In5spite of that chan.in. 0ie) of ,arria.e li2e relationships also affects )or25life +alance as ,any )o,en are no lon.er e3pectin. lifelon. partners9 and conse-*ently they stress the i,portance of ac-*irin. s2ills and -*alifications as stated +y researcher #e)is et al4 @GJJJ )hereas in contradiction to the a+o0e Mil2ie and Peltola @GJJJ stressed that happier ,arria.es are related to a .reater sense of s*ccess in +alancin. )or2 and fa,ily4 1i..ins et al4@GJJ9 1ochschild @GJKJ9 "elley and Voydanoff @GJKF9 1ochschild @GJKJ Tho,pson Q !al2er @GJKJ re0ealed that )or2in. )o,en face )ell5doc*,ented conflicts d*e to their contin*in. role as pri,ary careta2ers for their ho,es9 children9 and:or elderly parents +ein. )o,ens .reater responsi+ility for children and other fa,ily ,e,+ers and they e3perience ,ore interr*ptions than ,en res*ltin. co,,on
ho*sehold pro+le,s4 1o)e0er9 at fa,ily front researcher Mil2ie and Peltola @GJJJ stated that one )ill feel less s*ccessf*l in achie0in. their o)n )or25fa,ily +alance if spo*se has to do the s,aller portion of ho*se)or2 )hereas "iecolt @<
E67'$** $%& s-s-:$;$ S-s-:$ -3 #LB G4 @1artline and errell GJJ;4 The researchers ha0e fo*nd that )hen e,ployees percei0e that ,ana.e,ent is .en*inely concerned for their )ell+ein. as )ell as the )ell5+ein. of c*sto,ers9 they e3perience hi.her le0els of >o+ satisfaction and e3hi+it stron.er co,,it,ent to their or.ani6ation4
4 @Reichheld and Teal9GJJ; Rhoades9 Eisen+er.er9 and Ar,eli <o+ satisfaction and ,oti0ation of in a sa,ple of Pa2istani sa,ple e,ployees defines e,ployee )or2 satisfaction @>o+ satisfaction as a pleas*ra+le positi0e e,otional state as a res*lt of )or2 appraisal fro, one&s >o+ e3periences4 H4@/r*ne+er.9 GJLJ Danish Q Us,an9 o+ satisfaction is defined as an o0erall feelin. a+o*t one&s >o+ or career in ter,s of specific facets of the >o+ or career 4 4@Tho,pson9 Tho,pson Q Orr9 <
RESEARCH METHODOLOGY
SAMPLE SI
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)e *se pri,ary as )ell as secondary data4 So,e data )ill +e ta2e fro, internet9 so,e )ill +e .ather thro*.h -*estionnaire4 RESEAR!H DESIGN
E3ploratory Descipti0e
REFEREN!ES
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