TITLE: RELATIONSHIP AMONG JOB
SATISFACTION AND EMPLOYEE TURNOVER IN HDFC BANK
Statement of the Problem
Job
satisfaction is a key instrument to gauge the organizational health as service
quality largely depends upon the human resources. Job Satisfaction is the buzz
word in today’s corporate era. Since the transformation of personnel into HR,
and its inception in the industry new concepts related to human capital has
been emerging day by day. In a decade ago this concept was not practiced or applied
and the employees were very loyal to their organizations and used to start and
end their career in the same organizations.
The
research problem identified in this study is whether the pay is the major
factor of job satisfaction among banking industry. Pay does not just include
the salary that an individual is getting from his / her job; rather pay
includes all pays and emoluments including the short term and long term fringe
benefits. The banking industry in India has grown recently and a lot of humans
are associated with this industry. The study would not have been meaningful if
the focus was only on a bank or on various employees. An endeavor has been made
to do a comparative analysis of employees of different leading commercial
banks. As HDFC bank is one of the leading banks in the Indian banking sector,
therefore this comparative analysis implied the level of job satisfaction and
the factors of job satisfaction of employees in the HDFC bank.
Why is the particular topic chosen?
The
topic of job satisfaction is primarily taken because pay has been considered as
the major factor for job satisfaction however other related factors like
promotion, recognition, job involvement and commitment are also taken into
account. Job satisfaction is an attitude of an employee over a period of his
job so the factors of satisfaction and dissatisfaction changes over the period.
It is a relative term and is nowadays used as a key factor to gauge the
performance of a particular employee and organization. Satisfied employees are
more likely to be friendly and responsive which attracts customers.
Dissatisfied employees can lead to customer dissatisfaction. Therefore, the
contribution that this study makes is to endeavors the various factors of job
satisfaction in the banking sector.
Objective and Scope of the study
The
main objective of the study is to identify and measure the various factors of
job satisfaction in the HDFC bank and highlight the main findings by performing
statistical techniques to judge the correlation and level of significance for
the factor.
Primarily
pay has been considered as the major factor for job satisfaction however other
related factors like promotion, work efforts and the importance/challenge of
the job are also taken into account. The banking industry after changing
rapidly into a services sector has a lot of emphasis on its customers both
internal and external. A common phrase implied in the corporate world is that
satisfied employees increase customer satisfaction and loyalty. Customer retention
is highly dependent on how employees deal with customers. Satisfied employees
are more likely to be friendly, upbeat, and responsive which the customers
appreciate. Dissatisfied employees can also increase customer dissatisfaction.
Since there is a tremendous competition among various banks to increase the
market share and get most of the business from the market, dissatisfying a
customer can be very handy for a bank. There is a supposition that the less
satisfied workers have a tendency to leave the organization while the satisfied
employees remain and grow in the job. Findings on these assumptions advocate
that HDFC bank ought to keeps in Pay and Job Satisfaction mind the key
determinants affecting employee job satisfaction to overcome the issues of absenteeism,
low morale and turn over in the bank.
More
especially the study will be aimed:
Ø To
Study the basic characteristics of Job satisfaction & Employee turnover
Ø To
analyze the job satisfaction in a particular sector and reasoning of
dissatisfaction among the employees
Ø To
identify the variables influence the job satisfaction
Ø To
measure the employee productivity, employee commitment and loyalness to their
organization.
Methodology
The purpose of this research methodology is to
discover answers of questions through the application of various procedures
with the use of primary and secondary data. Data will be collected
from the accounts employees of various branches HDFC bank. The variable used
will be employee turnover. 25 to 35 people will be selected for the collection
of data.
Though
each research method has its own specific purpose, researcher may think of
research objectives as falling into a number of broad groupings.
(i).
Secondary method.
(ii).
Primary method.
The
broader purpose of the present study is to explore the relationship among
employee job satisfaction and employee Turnover. Data will be collected from
the accounts employees of various organizations.
Primary research helps to collect data from an
original source such as your own experiments, questionnaire survey, interview
or focus groups. Therefore, a questionnaire is a method for collecting primary data in
which a sample of respondents are asked a list of carefully structured
questions chosen after considerable testing, with a view to eliciting
reliable responses. Therefore, questionnaire technique will be used in order to
obtain data and employees will be asked to give the answers of questions in
accordance to their best knowledge. Questionnaire will be divided in to two
parts dissatisfaction factors and satisfaction factors.
To read more…….
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