CHAPTER - 1

INTRODUCTION

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Introduction to Topic
Job satisfaction, a workers sense of achievement and success, is generally perceived to be directly linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a job one enjoys, doing it well, and being suitably rewarded for ones effort. Job satisfaction further implies enthusiasm and happiness with ones work. The Harvard Professional Group (1998) sees job satisfaction as the keying radiant that leads to recognition, income, promotion, and the achievement of other goals that lead to a general feeling of fulfillment. Some of the organizations, in spite of the overemphasis on the importance of human resource management in an organization, still pay less attention to the importance of job satisfaction. Due to lack of job satisfaction, most organization either performs badly or loses skilled employees to other organizations with strong human resource policies. The organizations need to take note that A happy employee is a happy customer. Job satisfaction is a result of employees perceptions of how well their job provides those things that are viewed as important. It is seen as the emotional response to a job situation. According to literature, job satisfaction can be described under three dimensions: Job satisfaction as seen in the manner in which the employees react and respond to the job situation. Job satisfaction being determined by how outcomes meet or exceed expectations. Job satisfaction represents several related attitudes. Job satisfaction is also seen as a psychological satisfaction which employees derive from performing a job. Performance of the job by an employee also requires that his/her expectations and aspirations in terms of reward, considerations and fulfillment of his/her needs, etc. be met. If these are fulfilled, he/she will satisfied with the outcome of job performance and greater job satisfaction would generally motivate the employees in performing their tasks more efficiently and that results in productivity. According to Herzbergs Two Factor Theory, job satisfaction is associated with conditions surroundings the job, for example, working conditions, pay, security, quality of supervision, relations with others rather than the work itself. However these factors
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prevent negative reactions. They are normally referred to as hygiene factors. Satisfaction is associated with factors that have to do with work itself or to outcomes directly derived from it, for example, the nature of the job, achievement in the work, promotion, opportunities and chance for personal growth, and recognition. These factors are associated with high level of job satisfaction; hence they are referred to motivators. This is also supported by the 4Ps of job satisfaction which serve four interests as:

The four Ps of job satisfaction

Physical interest Physical interests encompass working conditions, nature of the job, salary and company benefits. Psychological interest Psychological interests include emotions, job security, self-esteem, trust, recognition and work environment. Political / social interest This include labor union affiliation and corporate social responsibility. Personal development interest These includes the availability of training and development programmers, innovation and growth prospects.

Importance to workers and organization

Frequently, work underlies self esteem and identity while unemployment lowers self worth and produces anxiety . At the same time, monotonous jobs can erode a workers initiative and enthusiasm and can lead to absenteeism and unnecessary turnover. Job satisfaction and occupational success are major factors in personal satisfaction, self respect, self esteem, and self development. To the worker, job satisfaction brings a pleasurable emotional state that often leads to

appositive work attitude. A satisfied worker is more likely to be creative, flexible, innovative and loyal. For the organization, job satisfaction of its workers means a work force that is

motivated and committed to high quality performance. Increased productivity- the quantity and quality of output per hour worked-seems to be a byproduct of improved quality of working life. It is important to note that the literature on the relationship between job satisfaction and productivity is neither conclusive nor consistent.

Workers Roles in Job Satisfaction

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If job satisfaction is a worker benefit, surely the worker must be able to contribute to his or her own satisfaction and well-being on the job. The following suggestions can help a worker find personal job satisfaction: Seek opportunities to demonstrate skills and talents. This often leads to more challenging Develop excellent communication skills. Employers value and reward excellent reading,

work and greater responsibilities, with attendant increases in pay and other recognition.

listening, writing and speaking skills. Know more; acquire new job- related knowledge that helps you to perform tasks more Demonstrate creativity and initiative. Qualities like these are valued by most organization and often result in recognition as well as in increased responsibilities and rewards. Develop teamwork and people skills. A large part of job success is the ability to work well with others to get the job done. Accept the diversity in people. Accept people with their differences and their imperfections and learn how to give and receive criticism constructively. See the value in your work. Appreciating the significance of what one does can lead to satisfaction with the work itself. This helps to give meaning to ones existence, thus playing a vital role in job satisfaction. Learn to de-stress. Plan to avoid burnout by developing healthy stress management technique.

efficiently and effectively. This will relieve boredom and often gets one noticed.

Determination of Job Satisfaction:

Harrell, on the basis of numerous studies, classified determinants of job satisfaction in three groups: 1) Personal factors: personal factors relating to job satisfaction are sex, number of dependents, age and time on job, intelligence, education and personality.
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Usually women are more satisfied than men in their jobs. It is because of the fact that they have less ambition and financial needs than their counterpart.

Job dissatisfaction increases with the increasing number of dependents. Older individuals in white-collar jobs have greater intrinsic job satisfaction but less financial and job status satisfaction.

It is indicated that job satisfaction is high at the start and end of the job duration and low in the middle period of the job.

The relationship between job satisfaction and intelligence is a function of nature of work. Intelligent individuals are less challenging and repetitive works are found to be dissatisfied.

Education

has

dubious

relationship

with

job

satisfaction. Individuals with high education are likely to be satisfied with their jobs depending upon their advancement policies and opportunities in relation to education in the company.

2) Factors inherent in the job: The job satisfaction factors inherent in the job itself relate to the nature of work, skills required, occupational status, geographical location and size of the organization. The nature of works determines job satisfaction. Usually varied work causes more job satisfaction than repetitive work. The satisfaction is markedly determined by skills required in the job factors such as conditions of work

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or wages only assume significance where satisfaction in skills declines. Occupational status as perceived by the individual himself and others whose opinion he values forms a factor in job satisfaction. Frequently white-collar jobs are rated high, although there may be variation in the prestige value. Geographical locations are related to job satisfaction. Usually, individuals in the mountain areas are found to be least satisfied with their jobs.

3) Factors controlled by the management: Job satisfaction factors controlled by the management include security, pay, fringe benefits, and opportunity for advancement, working conditions, co-workers, supervision and downward flow of information. Steady employment or job security is determinant of job satisfaction. Although its importance varies in terms of marital status and number of dependents. Pay is considered significant source of job satisfaction although its significance varies in terms of labor market, economic conditions. Fringe benefits are the source of job satisfaction. Opportunity for promotion is a significant determinant of job satisfaction, especially of sales, clerical. The working conditions are related to job satisfaction. Poor working conditions are found to cause low dissatisfaction.

Strategies
Depending
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to
on

improve
the

job

satisfaction:
of your

underlying

cause

dissatisfaction, there may be several ways to increase your job satisfaction. These are: Set new challenges: if youre stuck in a job because of lack of education or a downturn in the economy, it doesnt mean your work has to become drudgery. With a little imagination, you can create new challenges and make the best of the job you have. Beat the boredom: does your job seem boring sometimes? Do you run out of things to do? If so, your abilities may not match your responsibilities. Stay positive: Use positive thinking to reframe your thoughts about your job. Changing your attitude about work wont necessarily happen overnight. But if you are alert to ways your view of work brings you down, you can improve your job satisfaction.

Significance of the study: The job occupies

an important place in the life of an individual. It is the chief source of satisfaction of an individuals satisfaction psychological, biological and social needs. Selection of job therefore is a crucial importance to any person. The job satisfaction plays an important role in the job behavior of an individual. It has been defined by Gilmer, job satisfaction or dissatisfaction is the result of various attitudes the person holes towards his job, toward related factors & toward in general.

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Job

satisfaction

improves

the

performance as well as the effectiveness of an individual irrespective of his nature of work; the friendly enthusiastic, source and well adjusted employees can work steadily and carefully. Satisfaction of an employee in the industry which his jobs depends upon various factors such as salary, interest, interpersonal relationship co-workers, supervision, status,

recognition, promotion, environment, opportunity of advance, training and company policy. The sum of these factors increases the job satisfaction of an employee.

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COMPANY PROFILE

About ICICI Bank

Overview
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