HUMAN RESOURCE

EMPLOYEE SATISFACTION SURVEY

PRIYANKA SAXENA A-30101909098

MBA (HUMAN RESOURCES/ MARKETING)

2009-2011

A dissertation submitted in partial fulfillment of the requirements of Masters in Business Administration

at the Amity Global Business School Amity University, Noida

Month Year

MAY- 2011 ABSTRACT

The following dissertation report is based on the Employee Satisfaction Survey in a Banking Industry.

CHOICE OF THE BANKING INDUSTRY

I made a choice for the banking industry for the reason it is a service industry which required highly qualified & trained individuals with a well groomed personality & a high degree of self motivation to serve quality to customers & ensure high standards of work & behavior.

Self Motivation comes to an employee only when they are satisfied in the organization they are working for, hence this report is based on the employee satisfaction survey.

KEY FOCUS

Here, the key focus is laid on the fact hat the employees are satisfied on various parameter in both private & public sector banks as well.

In this particular report we have taken tow banks, one is private sector bank, The royal Bank Of Scotland & the other one is Andhra Bank which is a public sector bank.

As we know that the environment in Private & Public organizations differs in various aspects such as code of conduct, rules & regulations, quality of individuals working, employee- employer relations etc, & so they have different techniques for marking employee satisfaction so this report will precisely show how the employees of a private bank & a public bank react to the similar criteria which are put to see their satisfaction level in their respective organizations.

EXPECTED OUTCOMES

By the end of this survey, we will be able to see the reaction of employees & their satisfaction level in their organizations

ACKNOWLEDGEMENT

I, Priyanka Saxena of Amity Global Business School express my deepest thanks to my project Guide Dr. Shruti Tripathi for guiding and correcting various documents of mine with attention and care. She has taken pain to go through the project and make necessary correction as and when needed.

I express my thanks to the Director of , Amity Global Business School , for extending his support. My deep sense of gratitude to Col. Y K Arora, Director, for his support & guidance Thanks and appreciation to the helpful people at The Royal Bank of Scotland & The Andhra Bank, for their support.

I also offer my gratitude towards my project guide Ms. Suranjana Ghosh, from the Royal Bank of Scotland for giving me all her co-operation & helping me to give a more professional dimension to the report.

I would also thank all the participants of this report, who gave their valuable time to complete the questionnaire & help me with the successful completion of the project & without whom this project would have been a distant reality .

I also extend my heartfelt thanks to my family and well wishers.

Priyanka Saxena

A-30101909098

TABLE OF CONTENTS

CHAPTER No. TOPIC 1 LITERATURE REVIEW 2 THE INDIAN BANKING INDUSTRY 3 A WORD ABOUT………… 4 AN INSIGHT INTO RESEARCH & ITS VARIOUS ASPECTS 5 SIGNIFICANCE OF RESEARCH 6 MY INPUTS IN THE REPORT… 7 INPUTS FOR THE RESEARCH 8 RESULT 9 CALCULATIONS 10 FINDINGS & ANALYSIS 11 APPENDIX 12 RECOMMENDATIONS

13 REFERENCES CHAPTER-1 LITERATURE REVIEW

Managing Employee Satisfaction in the Workplace stop using the recession as an excuse for ignoring low morale among the workers who report to you.

By John Baldoni

John Baldoni is a leadership development consultant, executive coach, speaker, and author. In 2009, Top Leadership Gurus named John one of the top 25 leadership experts in the world. His newest book is Lead Your Boss: The Subtle Art of Managing Up (Amacom, 2009). John also writes the "Leadership at Work" column for Harvard Business Publishing. He can be contacted via his Web site,www.johnbaldoni.com.

Once upon a time (say, way back in 2007), when making presentations, I used to include a slide noting worker dissatisfaction levels. At one point, eight of 10 workers were disengaged—that is, either uncommitted or actively looking for work elsewhere. Then came the Great Recession, and talk of employee dissatisfaction abated.

But it never went away. New studies by the Hay Group and the Corporate Leadership Council, which were cited in the Economist, note that employees are getting fed up. Factors include overwork, underpayment, and underappreciation. As a result, as many as six in 10 are looking to exit, according to the Hay Group. Some 85 percent of those not looking are staying still because the job market remains weak.

So what's a manager to do? First, recognize that many of your employees are unhappy. They probably feel overstretched and overburdened. Additionally, as other research studies show, a significant number distrust their senior leadership. Many feel they have made sacrifices incompensation that senior leaders have escaped. They also feel more vulnerable to cutbacks and hence are unlikely to voice much dissatisfaction.

But as every savvy manager knows, an unhappy worker is an underproducing worker. Organizations with disengaged employees go through the motions but do not put motions forward to get the job done. MAKING WORK MORE TOLERABLE

Solutions are not easy. Yes, recognition and incentive programs work, but too often such programs address symptoms rather than the root causes of worker dissatisfaction. They serve as proverbial Band-Aids for deep-seated malaise. If work has little meaning, incentivized solutions are ends unto themselves, not means to an end: a more fulfilling workplace. Making work meaningful is no simple matter and frankly is beyond the responsibility of most managers. After all, businesses hire managers to get the work done, not make work enjoyable.

Finding purpose in work is an individual pursuit, but in my experience I have found good examples of how managers do create higher levels of buy-in and thereby do make the work experience more tolerable. Here are some suggestions.

ADDRESS THE SITUATION

The worst thing managers who suspect worker dissatisfaction can do is to ignore it, although that is the time-honored tradition. Avoiding the topic does not make it go way. Find ways to raise the issue at staff meetings. The blunt approach—"So what's wrong?"—may not work. People will likely clam up. But if you are clever and talk about the issue and perhaps voice your own dissatisfaction with the situation, you may have better luck. Make it safe for employees to talk about workplace dissatisfiers. Often they are simple things: input into scheduling, flexibility in work hours, or even something employees can make happen themselves, such as cleaner break rooms.

ENCOURAGE ALTERNATIVES

Find ways you can improve the situations. Take the lead in addressing employee complaints. Over the longer term, the best way is to let workers figure things out for themselves. Challenge employees to come up with ideas for making improvements, either in job design or in job process. Look for ways to remove the drudge factor in favor of the value add. Replace make- work projects with make-it-work projects. SHOW OUTCOMES

Relate what your team does to what the company does. Say you work in purchasing: Find ways to link your striving for best-value, best-cost suppliers with improved-quality products. Make the link between improved quality and customer satisfaction. Such things would not have happened if purchasing had not done its job. Some companies introduce employees to customers when possible. Then employees see their products or services in use. That's a great way to encourage meaning in the workplace. Putting meaning into work is not a managerial responsibility; it falls to the employee to find work that matters to him or herself. And when employees sign on to do a job, they have a responsibility to perform it. Yes, in times of scarcity, as we are enduring now, compensation may be less competitive and opportunities for advancement less available, but workers must do the jobs employers pay them to do. Obvious, yes, but as studies show, many employees remain disgruntled.

Simply acknowledging trouble in the workplace is a good first step. It creates an atmosphere of honesty. There is always a risk that people will reveal too much dissatisfaction, but when the manager makes it safe to offer up concerns and provides avenues of redress, workers can feel they are part of a solution rather than part of a problem. And maybe that's all that can happen in the short term. If so, acknowledge it and make the best of it. There are far too many people out of work who would readily switch places with you or your employees. Mr V K KANNAN:

Provided us with the statements using a Likert Technique or scale.

The surveys of this type provides an understanding how the employee perceives the organization. Employee satisfaction surveys measure your employee's opinions on most of the aspects of an workplace including:

Overall satisfaction

Management/employee relations

Corporate culture

Career development

Compensation

Benefits

Recognition and rewards

Working conditions

Training

Staffing levels

Safety concerns

Policies and procedures How to do Employee Satisfaction Survey BY PRASHANTHA

AnalyseSurvey survey software is a complete solution for Employee Satisfaction Survey.

The AnalyseSurvey employee satisfaction survey solution includes industry standard survey templates, a platform for hosting survey, collecting responses, and an advanced suite of analytical tools for analyzing the results.

Building and deploying a employee satisfaction survey using AnalyseSurvey is very simple, quick and reliable. AnalyseSurvey survey software does not require any programming skills - all it takes to design a complete survey is only a few clicks. Responses are automatically computed and presented in an easy to read graphical format in real time. AnalyseSurvey includes an array of employee satisfaction survey templates. CHAPTER- 2

THE INDIAN BANKING INDUSTRY

INTRODUCTION

Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India.

HISTORY Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Puducherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center. The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahorein 1895, which has survived to the present and is now one of the largest banks in India. The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financing foreign trade. Indian joint stock banks were generally under capitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, "In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments." The fervour of Swadeshi movement lead to establishing of many private banks in Dakshina Kannada and Udupi district which were unified earlier and known by the name South Canara ( South Kanara ) district. Four nationalised banks started in this district and also a leading private sector bank. Hence undivided Dakshina Kannada district is known as "Cradle of Indian Banking". During the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for Indian banking. The years of the First World War were turbulent, and it took its toll with banks simply collapsing despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed between 1913 and 1918 as indicated in the following table:

Number of banks Authorised capital Paid-up Capital Years that failed (Rs. Lakhs) (Rs. Lakhs)

1913 12 274 35

1914 42 710 109

1915 11 56 5

1916 13 231 4

1917 9 76 25

1918 7 209 1 The major steps to regulate banking included:

. The Reserve Bank of India, India's central banking authority, was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b).[Reference www.rbi.org.in] . In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India." . The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI, and no two banks could have common directors.

NATIONALISATION

Banks Nationalisation in India: Newspaper Clipping, Times of India, July, 20, 1969 Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. Indira Gandhi, then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation." The meeting received the paper with enthusiasm. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the Government of India controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.

LIBERALISATION In the early 1990s, the then Narsimha Rao government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech- savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier asUTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been set up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%;Lend at 6%;Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks.All this led to the retail boom in India. People not just demanded more from their banks but also received more.

THE CURRENT SCENARIO The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely to decelerate. The total assets of all scheduled commercial banks by end-March 2010 is estimated at Rs 40,90,000 crores. That will comprise about 65 per cent of GDP at current market prices as compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual composite rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital base and reserves on the liability side.

The Public Sector Banks(PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry.

SOME OF THE PRIVATE PLAYERS In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING Vyasa Bank,SBI Commercial and International Bank Ltd, Bank of Rajasthan Ltd. and banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank among others. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are some of the foreign banks operating in the Indian Banking industry. India Banking 2010 Towards a High-performing Sector BANKING IN THE YEAR GONE BY….2010

The last decade has seen many positive developments in the Indian banking sector. The policy makers, which comprise the Reserve Bank of India (RBI), Ministry of Finance and related government and financial sector regulatory entities, have made several notable efforts to improve regulation in the sector. The sector now compares favourably with banking sectors in the region on metrics like growth, profitability and non-performing assets (NPAs). A few banks have established an outstanding track record of innovation, growth and value creation. This is reflected in their market valuation. However, improved regulations, innovation, growth and value creation in the sector remain limited to a small part of it. The cost of banking intermediation in India is higher and bank penetration is far lower than in other markets. India’s banking industry must strengthen itself significantly if it has to support the modern and vibrant economy which India aspires to be. While the onus for this change lies mainly with bank managements, an enabling policy and regulatory framework will also be critical to their success. The failure to respond to changing market realities has stunted the development of the financial sector in many developing countries. A weak banking structure has been unable to fuel continued growth, which has harmed the long-termhealth of their economies. In this “white paper”, we emphasise the need to act both decisively and quickly to build an enabling, rather than a limiting, banking sector in India.

GOOD PERFORMANCE,QUESTIONABLE HEALTH

Indian banks have compared favourably on growth, asset quality and profitability with other regional banks over the last few years. The banking index has grown at a compounded annual rate of over 51 per cent since April 2001 as compared to a 27 per cent growth in the market index for the same period. Policy makers have made some notable changes in policy and regulation to help strengthen the sector. These changes include strengthening prudential norms, enhancing the payments system and integrating regulations between commercial and co-operative banks. However, the cost of intermediation remains high and bank penetration is limited to only a few customer segments and geographies. While bank lending has been a significant driver of GDP growth and employment, periodic instances of the “failure” of some weak banks have often threatened the stability of the system. Structural weaknesses such as a fragmented industry structure, restrictions on capital availability and deployment, lack of institutional support infrastructure, restrictive labour laws, weak corporate governance and ineffective regulations beyond Scheduled Commercial Banks (SCBs), unless addressed, could seriously weaken the health of the sector. Further, the inability of bank managements (with some notable exceptions) to improve capital allocation, increase the productivity of their service platforms and improve the performance ethic in their organisations could seriously affect future performance. OPPORTUNITIES AND CHALLENGES FOR PLAYERS

The bar for what it means to be a successful player in the sector has been raised. Four challenges must be addressed before success can be achieved. First, the market is seeing discontinuous growth driven by new products and services that include opportunities in credit cards, consumer finance and wealth management on the retail side, and in fee-based income and investment banking on the wholesale banking side. These require new skills in sales & marketing, credit and operations. Second, banks will no longer enjoy windfall treasury gains that the decade-long secular decline in interest rates provided. This will expose the weaker banks. Third, with increased interest in India, competition from foreign banks will only intensify. Fourth, given the demographic shifts resulting from changes in age profile and household income, consumers will increasingly demand enhanced institutional capabilities and service levels from banks.

ONE OF THREE SCENARIOS WILL PLAY OUT BY 2010

The interplay between policy and regulatory interventions and management strategies will determine the performance of Indian banking over the next few years. Legislative actions will shape the regulatory stance through six key elements: industry structure and sector consolidation; freedom to deploy capital; regulatory coverage; corporate governance; labour reforms and human capital development; and support for creating industry utilities and service bureaus. Management success will be determined on three fronts: fundamentally upgrading organizational capability to stay in tune with the changing market; adopting value-creating M&A as an avenue for growth; and continually innovating to develop new business models to access untapped opportunities. Through these scenarios, we paint a picture of the events and outcomes that will be the consequence of the actions of policy makers and bank managements. These actions will have dramatically different outcomes; the costs of inaction or insufficient action will be high. Specifically, at one extreme, the sector could account for over 7.7 per cent of GDP with over Rs.. 7,500 billion in market cap, while at the other it could account for just 3.3 per cent of GDP with a market cap of Rs. 2,400 billion. Banking sector intermediation, as measured by total loans as a percentage of GDP, could grow marginally from its current levels of ~30 per cent to ~45 per cent or grow significantly to over 100 per cent of GDP. In all of this, the sector could generate employment to the tune of 1.5 million compared to 0.9 million today. Availability of capital would be a key factor — the banking sector will require as much as Rs. 600 billion (US$ 14 billion) in capital to fund growth in advances, non-performing loan (NPL) write offs and investments in IT and human capital upgradation to reach the high-performing scenario. Three scenarios can be defined to characterize these outcomes: High performance: In this scenario, policy makers intervene only to the extent required to ensure system stability and protection of consumer interests, leaving managements free to drive far-reaching changes. Changes in regulations and bank capabilities reduce intermediation costs leading to increased growth, innovation and productivity. Banking becomes an even greater driver of GDP growth and employ- ment and large sections of the population gain access to quality banking products. Management is able to overhaul bank organizational structures, focus on industry consolidation and transform the banks into industry shapers. In this scenario we witness consolidation within public sector banks (PSBs) and within private sector banks. Foreign banks begin to be active in M&A, buying out some old private and newer private banks. Some M&A activity also begins to take place between private and public sector banks. As a result, foreign and new private banks grow at rates of 50 per cent, while PSBs improve their growth rate to 15 per cent. The share of the private sector banks (including through mergers with PSBs) increases to 35 per cent and that of foreign banks increases to 20 per cent of total sector assets. The share of banking sector value add in GDP increases to over 7.7 per cent, from current levels of 2.5 per cent. Funding this dramatic growth will require as much as Rs. 600 billion in capital over the next few years.

EVOLUTION Policy makers adopt a pro-market stance but are cautious in liberalising the industry. As a result of this, some constraints still exist. Processes to create highly efficient organisations have been initiated but most banks are still not best-in-class operators. Thus, while the sector emerges as an important driver of the economy and wealth in 2010, it has still not come of age in comparison to developed markets. Significant changes are still required in policy and regulation and in capability-building measures, especially by public sector and old private sector banks. In this scenario, M&A activity is driven primarily by new private banks, which take over some old private banks and also merge among themselves. As a result, growth of these banks increases to 35 per cent. Foreign banks also grow faster at 30 per cent due to a relaxation of some regulations. The share of private sector banks increases to 30 per cent of total sector assets, from current levels of 18 per cent, while that of foreign banks increases to over 12 per cent of total assets. The share of banking sector value add to GDP increases to over 4.7 per cent.

STAGNATION In this scenario, policy makers intervene to set restrictive conditions and management is unable to execute the changes needed to enhance returns to shareholders and provide quality products and services to customers. As a result, growth and productivity levels are low and the banking sector is unable to support a fast-growing economy. This scenario sees limited consolidation in the sector and most banks remain sub-scale. New private sector banks continue on their growth trajectory of 25 per cent. There is a slowdown in PSB and old private sector bank growth. The share of foreign banks remains at 7 per cent of total assets. Banking sector value add, meanwhile, is only 3.3 per cent of GDP. NEED TO CREATE A MARKET-DRIVEN BANKING SECTOR WITH ADEQUATE FOCUS ON SOCIAL DEVELOPMENT

The term “policy makers” used in this document, as mentioned earlier, refers to the Ministry of Finance and the RBI and includes the other relevant government and regulatory entities for the banking sector. We believe a co-ordinated effort between the various entities is required to enable positive action. This will spur on the performance of the sector. The policy makers need to make co-ordinated efforts on six fronts:

Help shape a superior industry structure in a phased manner through “managed consolidation” and by enabling capital availability. This would create 3-4 global sized banks controlling 35-45 per cent of the market in India; 6-8 national banks controlling 20-25 per cent of the market; 4-6 foreign banks with 15-20 per cent share in the market, and the rest being specialist players (geographical or product/segment focused).

Focus strongly on “social development” by moving away from universal directed norms to an explicit incentive-driven framework by introducing credit guarantees and market subsidies to encourage leading public sector, private and foreign players to leverage technology to innovate and profitably provide banking services to lower income and rural markets.

Create a unified regulator, distinct from the central bank of the country, in a phased manner to overcome supervisory difficulties and reduce compliance costs.

Improve corporate governance primarily by increasing board independence and accountability.

Accelerate the creation of world class supporting infrastructure (e.g., payments, asset reconstruction companies (ARCs), credit bureaus, back-office utilities) to help the banking sector focus on core activities.

Enable labour reforms, focusing on enriching human capital, to help public sector and old private banks become competitive.

PRIVATE BANKS IN INDIA

Private banking in India was practiced since the begining of banking system in India. The first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tength largest development bank in the world as Private Banks in India and has promoted a world class institutions in India.

The first Private Bank in India to receive an in principle approval from the Reserve Bank of India was Housing Development Finance Corporation Limited, to set up a bank in the private sector banks in India as part of the RBI's liberalisation of the Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank Limited with registered office in Mumbai and commenced operations as Scheduled Commercial Bank in January 1995.

ING Vysya, yet another Private Bank of India was incorporated in the year 1930. Bangalore has a pride of place for having the first branch inception in the year 1934. With successive years of patronage and constantly setting new standards in banking, ING Vysya Bank has many credits to its account.

LIST OF PRIVATE BANKS IN INDIA • Bank of Punjab • Bank of Rajasthan • Catholic Syrian Bank • Centurion Bank • City Union Bank • Dhanalakshmi Bank • Development Credit Bank • Federal Bank • HDFC Bank • ICICI Bank • IndusInd Bank • ING Vysya Bank • Jammu & Kashmir Bank • Karnataka Bank • Karur Vysya Bank • Laxmi Vilas Bank • South Indian Bank • United Western Bank • UTI Bank PUBLIC SECTOR BANKS IN INDIA

Among the Public Sector Banks in India, United Bank of India is one of the 14 major banks which were nationalised on July 19, 1969. Its predecessor, in the Public Sector Banks, the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks viz. Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932).

Oriental Bank of Commerce (OBC), a Governmet of India Undertaking offers Domestic, NRI and Commercial banking services. OBC is implementing a GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District (Raiasthan) disbursing small loans. This Public Secotor Bank India has implemented 14 point action plan for strengthening of credit delivery to women and has designated 5 branches as specialized branches for women entrepreneurs.

LIST OF PUBLIC BANKS IN INDIA

• Allahabad Bank • Andhra Bank • Bank of Baroda • Bank of India • Bank of Maharastra • Canara Bank • Central Bank of India • Corporation Bank • Dena Bank • IDBI Bank • Indian Bank • Indian Overseas Bank • Oriental Bank of Commerce • Punjab & Sind Bank • Punjab National Bank • Syndicate Bank • UCO Bank • Union Bank of India • United Bank of India • Vijaya Bank CHAPTER-3 A WORD ABOUT…………

THE ROYAL BANK OF SCOTLAND

INTRODUCTION

The Royal Bank of Scotland is one of the retail banking subsidiaries of the Royal Bank of Scotland Group plc, and together with NatWest and Ulster Bank, provides branch banking facilities throughout the British Isles. Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many larger towns and cities throughout England and Wales. The Royal Bank of Scotland and its parent, the Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre- dates the Royal Bank of Scotland by 32 years. The Bank of Scotland was effective in raising funds for the Jacobite Rebellion and as a result, The Royal Bank of Scotland was established to provide a bank with strong Hanoverian and Whig ties.

BRANDING

The RBS Group uses branding developed for the Bank on its merger with the National Commercial Bank of Scotland in 1969. The Group's logo takes the form of an abstract symbol of four inward-pointing arrows known as the "Daisy Wheel" and is based on an arrangement of 36 piles of coins in a 6 by 6 square, representing the accumulation and concentration of wealth by the Group.The Daisy Wheel logo was later adopted by RBS subsidiaries Worldpay, Ulster Bank in Ireland and Citizens Financial Group in the United States. Since 2006 the brand has moved away from referring to both the Group brand and its retail banking brand as the "Royal Bank of Scotland", instead using the "RBS" initialism. This is intended to support the positioning of the bank as a Global financial services player as opposed to its roots as a national bank. An example of the current branding can be found in the Six Nations Championship in rugby union, which it sponsors as the RBS 6 Nations. However, "Royal Bank of Scotland" is still used alongside the RBS initialism, with both appearing on bank signage. RBS sponsor the Williams F1 team, and have done since 2005 They have supported tennis player Andy Murray since he was aged 13. PRODUCTS & SERVICES

RBS Savings Accounts RBS Current Accounts RBS Term Deposits RBS Van Gogh Preferred Banking RBS Bancassurance Life RBS Bancassurance (Non Life)

TECHNOLOGY PRODUCTS

On-Line Tax Accounting System (OLTAS) Real Time Gross Settlement (RTGS) ATM Services Any Branch Banking Electronic Clearing Service (ECS) National Electronic Funds Transfer THE ANDHRA BANK

Andhra Bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs. The Bank crossed many milestones and the Bank's Total Business as on 30.06.2008 stood at Rs.83,256 Crores with a Clientele base over 1.74 Crores. The Bank is rendering services through 2139 Business Delivery Channels consisting of 1371 branches, 66 Extension Counters, 38 Satellite Offices and 664 ATMs spread over 21 States and 2 Union Territories as at the end of June, 2008. All Branches are 100% computerized, 1186 units viz., 1101 Branches, 68 Extension Counters, 15 Service Centres networked under Cluster Banking solution and providing "Any Branch Banking(ABB)". Real Time Gross Settlement (RTGS) Facility and National Electronic Fund Transfer (NEFT) facility has been introduced in 723 Branches. To provide value-added services to Customers, the Bank has set up its own 664 ATMs as on 30.06.2008. Of which 03 Mobile ATMs and two with Biometric access. Besides, ATM sharing arrangements with several Banks including SBI group, IDBI Bank, UTI Bank, HDFC Bank, Indian Bank and others under National Financial Network Switch covering 24856 ATMs. Bank is migrating to "Centralized Core Banking Solution". 118 Branches have already migrated to CBS. It is proposed to cover 550 branches by September 2009. This will benefit the customers, who will have access to banking and financial services anytime, anywhere through multiple delivery channels. Andhra Bank is a pioneer in introducing Credit Cards in the country in 1981 . The Bank introduced Internet Banking Facility (AB INFI-net) to all customers of cluster linked branches. Rail Ticket Booking Facility is made available to all debit card holders through IRCTC Website through a separate gateway. Corporate Website is available in English, Hindi and Telugu Languages communicating Bank's image and information. Bank has been given 'BEST BANK AWARD' a banking technology award by IDRBT, Hyderabad for extensive use of IT in Semi Urban and Rural Areas on 02.09.2006. IBA Jointly with TFCI has conferred the Joint Runner-up Award to the Bank in the Bet Payments initiative in recognition of outstanding achievement of the Bank in promoting ATM Channel. Bank successfully conducted " Bancon 2006", a two day event at Hyderabad, deliberating on Inclusive Growth - A New Challenge. Kiddy Bank Scheme, with insurance benefits, was relaunched to inculcate savings habit among the children. Bank has mobilized nearly 90000 new accounts during 2007-08. As a part of "Financial Inclusion", Bank adopted two districts, namely, Srikakulam in Andhra Pradesh and Ganjam in Orissa and achieved 100% coverage. Bank has introduced Smart Card Scheme Pilot project in Warangal District and the same will be extended to other Lead Districts in due course. Bank has opened 2.11 lakh accounts under "No-frill accounts" category till 30.06.2008. Andhra Bank, along with A P State Government, NABARD, Canara Bank, Indian Bank, IOB and SBH sponsored the Andhra Pradesh Banker's Institute of Entrepreneurship Development, which will offer training to unemployed youth for improving their skills in Andhra Pradesh. Bank adopted Gundugolanu village, West Godavari District, Andhra Pradesh - birth place of Dr.Bhogaraju Pattabhi Sitaramayya for all-round development. A comprehensive budget with an outlay of Rs.5.50 Crore is finalized for improving health, sanitation, education and social service facilities in the village. Bank has been ranked No.1 in terms of number of Life Insurance Policies mobilized amongst all the Agency Banks dealing with "Life Insurance Corporation of India". Bank also has tie-up with United India Insurance Company Limited under Bancassurance(Non-Life). Bank was ranked 532nd for the year ended 31.03.2007 amongst Top 1000 Banks in the world by "The Banker" - a London based publication based on Tier I Capital as defined by Basel's Bank for International Settlements (BIS). Bank entered MoU with Bank of Baroda and Legal & General Group of UK to form a joint venture life insurance company IndiaFirst Life Insurance Company. The shareholders' agreement has already been signed and necessary formalities are being completed for setting up of the company. The JV Company is already incorporated in June'08 and is in the process of filing for approvals from IRDA etc. IndiaFirst has commenced operations.

PRODUCTS & SERVICES

AB Savings Accounts AB Current Accounts AB Term Deposits AB Arogyadaan Scheme AB Bancassurance Life AB Bancassurance (Non Life)

TECHNOLOGY PRODUCTS

Multi City Cheque Facility On-Line Tax Accounting System (OLTAS) Real Time Gross Settlement (RTGS) Instant Funds Transfer ATM Services Any Branch Banking Electronic Clearing Service (ECS) National Electronic Funds Transfer CHAPTER-4

AN INSIGHT INTO RESEARCH & ITS VARIOUS ASPECTS

MEANING OF RESEARCH

Research in common parlance refers to a search for knowledge. Once can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. The Advanced Learner’s Dictionary of Current English lays down the meaning of research as “a careful investigation or inquiry specially through search for new facts in any branch of knowledge.”1 Redman and Mory define research as a “systematized effort to gain new knowledge.”2 Some people consider research as a movement, a movement from the known to the unknown. It is actually a voyage of discovery. We all possess the vital instinct of inquisitiveness for, when the unknown confronts us, we wonder and our inquisitiveness makes us probe and attain full and fuller understanding of the unknown. This inquisitiveness is the mother of all knowledge and the method, which man employs for obtaining the knowledge of whatever the unknown, can be termed as research.

DEFINITION

Research is an academic activity and as such the term should be used in a technical sense. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organising and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.

TYPES OF RESEARCH

The basic types of research are as follows:

(i) Descriptive vs. Analytical:

Descriptive research includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present.

In analytical research, on the other hand, the researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material. Applied vs. Fundamental:

Research can either be applied (or action) research or fundamental (to basic or pure) research.

Applied research: aims at finding a solution for an immediate problem facing a society or an industrial/business organisation,

Fundamental research: is mainly concerned with generalisations and with the formulation of a theory.

Quantitative vs. Qualitative:

Quantitative research: Based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity.

Qualitative research:, on the other hand, is concerned with qualitative phenomenon, i.e., phenomena relating to or involving quality or kind.

Conceptual vs. Empirical

Conceptual research: Is that related to some abstract idea(s) or theory. It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. empirical research: Relies on experience or observation alone, often without due regard for system and theory. It is data-based research, coming up with conclusions which are capable of being verified by observation or experiment.

SOME OTHER TYPES OF RESEARCH

All other types of research are variations of one or more of the above stated approaches, based on either the purpose of research, or the time required to accomplish research, on the environment in which research is done, or on the basis of some other similar factor. Form the point of view of time, we can think of research.

One-time research or longitudinal research.

In the former case the research is confined to a single time-period, whereas in the latter case the research is carried on over several time-periods.

Field-setting research or laboratory research or simulation research: Depending upon the environment in which it is to be carried out.

Clinical or diagnostic research:

Such research follow case-study methods or indepth approaches to reach the basic causal relations. Such studies usually go deep into the causes of things or events that interest us, using very small samples and very deep probing data gathering devices.

Exploratory:

The objective of exploratory research is the development of hypotheses rather than their testing, whereas formalized research studies are those with substantial structure and with specific hypotheses to be tested.

Historical research:

Is that which utilizes historical sources like documents, remains, etc. to study events or ideas of the past, including the philosophy of persons and groups at any remote point of time.

Conclusion-oriented: .

While doing conclusion oriented research, a researcher is free to pick up a problem, redesign the enquiry as he proceeds and is prepared to conceptualize as he wishes. CHAPTER-5

SIGNIFICANCE OF RESEARCH

Research inculcates scientific and inductive thinking and it promotes the development of logical habits of thinking and organisation. The role of research in several fields of applied economics, whether related to business or to the economy as a whole, has greatly increased in modern times.

The increasingly complex nature of business and government has focused attention on the use of research in solving operational problems. Research, as an aid to economic policy, has gained added importance, both for government and business.

Research provides the basis for nearly all government policies in our economic system.

For instance, government’s budgets rest in part on an analysis of the needs and desires of the people and on the availability of revenues to meet these needs. The cost of needs has to be equated to probable revenues and this is a field where research is most needed. Through research we can devise alternative policies and can as well examine the consequences of each of these alternatives.

Decision-oriented research:

Is always for the need of a decision maker and the researcher in this case is not free to embark upon research according to his own inclination. Operations research is an example of decision oriented research since it is a scientific method of providing executive departments with a quantitative basis for decisions regarding operations under their control.

Research has its special significance in solving various operational and planning problems of business and industry.

Operations research and market research, along with motivational research, are considered crucial and their results assist, in more than one way, in taking business decisions. Market research is the investigation of the structure and development of a market for the purpose of formulating efficient policies for purchasing, production and sales. Operations research refers to the application of mathematical, logical and analytical techniques to the solution of business problems of cost minimisation or of profit maximisation or what can be termed as optimisation problems. Motivational research of determining why people behave as they do is mainly concerned with market characteristics.

CRITERIA FOR A GOOD RESEARCH

Whatever may be the types of research works and studies, one thing that is important is that they all meet on the common ground of scientific method employed by them. One expects scientific research to satisfy the following criteria:

1. The purpose of the research should be clearly defined and common concepts be used.

2. The research procedure used should be described in sufficient detail to permit another researcher to repeat the research for further advancement, keeping the continuity of what has already been attained.

3. The procedural design of the research should be carefully planned to yield results that are as objective as possible.

4. The researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings.

5. The analysis of data should be sufficiently adequate to reveal its significance and the methods of analysis used should be appropriate. The validity and reliability of the data should be checked carefully.

6. Conclusions should be confined to those justified by the data of the research and limited to those for which the data provide an adequate basis.

7. Greater confidence in research is warranted if the researcher is experienced, has a good reputation in research and is a person of integrity.

In other words, we can state the qualities of a good research as under:

1. Good research is systematic:

It means that research is structured with specified steps to be taken in a specified sequence in accordance with the well defined set of rules. Systematic characteristic of the research does not rule out creative thinking but it certainly does reject the use of guessing and intuition in arriving at conclusions.

2. Good research is logical:

This implies that research is guided by the rules of logical reasoning and the logical process of induction and deduction are of great value in carrying out research. Induction is the process of reasoning from a part to the whole whereas deduction is the process of reasoning from some premise to a conclusion which follows from that very premise. In fact, logical reasoning makes research more meaningful in the context of decision making. CHAPTER-6 MY INPUTS IN THE REPORT…

INTRODUCTION

This particular dissertation report carries the employee satisfaction survey for the individuals working in a banking industry.

The report has been made using the steps as follows,

STEP 1:

DEFINING A RESEARCH

Usually for a research to start with, we are required to have a defined research base on which we can lay our foundation & work on it,

Selecting the research topic should be done while keeping the following factors in mind,

Subject which is overdone should not be normally chosen, for it will be a difficult task to throw any new light in such a case.

• Controversial subject should not become the choice of an average researcher.

• Too narrow or too vague problems should be avoided.

• The subject selected for research should be familiar and feasible so that the related research material or sources of research are within one’s reach. Even then it is quite difficult to supply definitive ideas concerning how a researcher should obtain ideas for his research.

.

As in this case our basis for the research is Employee Satisfaction Survey in Banking Industry. ESSENTIALNESS OF DEFINING A RESEARCH

Quite often we all hear that a problem clearly stated is a problem half solved. This statement signifies the need for defining a research problem. The problem to be investigated must be defined unambiguously for that will help to discriminate relevant data from the irrelevant ones. A proper definition of research problem will enable the researcher to be on the track whereas an ill-defined problem may create hurdles.

TECHNIQUE INVOLVED IN DEFINING A PROBLEM

. The technique for the purpose involves the undertaking of the following steps generally one after the other:

(i) Statement of the problem in a general way. (ii) Understanding the nature of the problem. (iii)Surveying the available literature. (iv) Developing the ideas through discussions. (v) Rephrasing the research problem into a working proposition. STEP 2:

SAMPLING

It needs to be emphasised that when the universe is a small one, it is no use resorting to a sample survey. When field studies are undertaken in practical life, considerations of time and cost almost invariably lead to a selection of respondents i.e., selection of only a few items. The respondents selected should be as representative of the total population as possible in order to produce a miniature cross-section. The selected respondents constitute what is technically called a ‘sample’ and the selection process is called ‘sampling technique.’ The survey so conducted is known as ‘sample survey’..

IMPLICATIONS OF A SAMPLE DESIGN

A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample. Sample design may as well lay down the number of items to be included in the sample i.e., the size of the sample. Sample design is determined before data are collected. There are many sample designs from which a researcher can choose. Some designs are relatively more precise and easier to apply than others. Researcher must select/prepare a sample design which should be reliable and appropriate for his research study.

STEPS IN SAMPLE DESIGN

While developing a sampling design, the researcher must pay attention to the following points:

(i)Size of sample:

This refers to the number of items to be selected from the universe to constitute a sample. This a major problem before a researcher. The size of sample should neither be excessively large, nor too small. It should be optimum. An optimum sample is one which fulfills the requirements of efficiency, representativeness, reliability and flexibility. While deciding the size of sample, researcher must determine the desired precision as also an acceptable confidence level for the estimate.

(ii) Parameters of interest:

In determining the sample design, one must consider the question of the specific population parameters which are of interest. For instance, we may be interested in estimating the proportion of persons with some characteristic in the population, or we may be interested in knowing some average or the other measure concerning the population. There may also be important sub-groups in the population about whom we would like to make estimates. All this has a strong impact upon the sample design we would accept.

(iii) Budgetary constraint:

Cost considerations, from practical point of view, have a major impact upon decisions relating to not only the size of the sample but also to the type of sample. This fact can even lead to the use of a non-probability sample.

(iv) Sampling procedure:

Finally, the researcher must decide the type of sample he will use i.e., he must decide about the technique to be used in selecting the items for the sample. In fact, this technique or procedure stands for the sample design itself. There are several sample designs (explained in the pages that follow) out of which the researcher must choose one for his study. Obviously, he must select that design which, for a given sample size and for a given cost, has a smaller sampling error.

CHARACTERISTICS OF A GOOD SAMPLE DESIGN From what has been stated above, we can list down the characteristics of a good sample design as under:

(a) Sample design must result in a truly representative sample.

(b) Sample design must be such which results in a small sampling error.

(c) Sample design must be viable in the context of funds available for the research study.

(d) Sample design must be such so that systematic bias can be controlled in a better way.

(e) Sample should be such that the results of the sample study can be applied, in general, for the universe with a reasonable level of confidence.

DIFFERENT TYPES OF SAMPLE DESIGNS

On the representation basis, the sample may be probability sampling or it may be non-probability sampling. Probability sampling: Is based on the concept of random selection, whereas non-probability sampling is ‘non-random’ sampling. On element selection basis, the sample may be either unrestricted or restricted. When each sample element is drawn individually from the population at large, then the sample so drawn is known as ‘unrestricted sample’, whereas all other forms of sampling are covered under the term ‘restricted sampling’. The following chart exhibits the sample designs as explained above. Thus, sample designs are basically of two types viz., non-probability sampling and probability sampling. We take up these two designs separately.

Non-probability sampling:

Non-probability sampling is that sampling procedure which does not afford any basis for estimating the probability that each item in the population has of being included in the sample.

Quota sampling

Is also an example of non-probability sampling. Under quota sampling the interviewers are simply given quotas to be filled from the different strata, with some restrictions on how they are to be filled. STEP 3 DATA COLLECTION

The task of data collection begins after a research problem has been defined and research design/ plan chalked out. While deciding about the method of data collection to be used for the study, the researcher should keep in mind two types of data viz., primary and secondary. The primary data are those which are collected afresh and for the first time, and thus happen to be original in character. The secondary data, on the other hand, are those which have already been collected by someone else and which have already been passed through the statistical process. The researcher would have to decide which sort of data he would be using (thus collecting) for his study and accordingly he will have to select one or the other method of data collection. The methods of collecting primary and secondary data differ since primary data are to be originally collected, while in case of secondary data the nature of data collection work is merely that of compilation. We describe the different methods of data collection, with the pros and cons of each method.

COLLECTION OF PRIMARY DATA

We collect primary data during the course of doing experiments in an experimental research but in case we do research of the descriptive type and perform surveys, whether sample surveys or census surveys, then we can obtain primary data either through observation or through direct communication with respondents in one form or another or through personal interviews.* This, in other words, means that there are several methods of collecting primary data, particularly in surveys and descriptive researches. Important ones are:

(i) Observation method (ii) Interview method (iii)Through questionnaires, (iv)Through schedules

Other methods which include

(a) warranty cards (b) distributoraudits (c) pantry audits (d) consumer panels (e) using mechanical devices (f) through projective techniques (g) depth interviews (h) content analysis. COLLECTION OF DATA THROUGH QUESTIONNAIRES

This method of data collection is quite popular, particularly in case of big enquiries. It is being adopted by private individuals, research workers, private and public organisations and even by governments. In this method a questionnaire is sent (usually by post) to the persons concerned with a request to answer the questions and return the questionnaire. A questionnaire consists of a number of questions printed or typed in a definite order on a form or set of forms. The questionnaire is mailed to respondents who are expected to read and understand the questions and write down the reply in the space meant for the purpose in the questionnaire itself. The respondents have to answer the questions on their own. The method of collecting data by mailing the questionnaires to respondents is most extensively employed in various economic and business surveys. The merits claimed on behalf of this method are as follows:

1.There is low cost even when the universe is large and is widely spread geographically.

2. It is free from the bias of the interviewer; answers are in respondents’ own words.

3. Respondents have adequate time to give well thought out answers.

4. Respondents, who are not easily approachable, can also be reached conveniently.

5 Large samples can be made use of and thus the results can be made more dependable and reliable.

The main demerits of this system can also be listed here: 1. Low rate of return of the duly filled in questionnaires; bias due to no-response is often indeterminate.

2. It can be used only when respondents are educated and cooperating.

3. The control over questionnaire may be lost once it is sent.

4. There is inbuilt inflexibility because of the difficulty of amending the approach once questionnaires have been despatched.

5. There is also the possibility of ambiguous replies or omission of replies altogether to certain questions; interpretation of omissions is difficult.

6. It is difficult to know whether willing respondents are truly representative.

7. This method is likely to be the slowest of all. Before using this method, it is always advisable to conduct ‘pilot study’ (Pilot Survey) for testing the questionnaires. In a big enquiry the significance of pilot survey is felt very much. Pilot survey is infact the replica and rehearsal of the main survey. Such a survey, being conducted by experts, brings to the light the weaknesses (if any) of the questionnaires and also of the survey techniques. From the experience gained in this way, improvement can be effected.

Main aspects of a questionnaire:

Quite often questionnaire is considered as the heart of a survey operation. Hence it should be very carefully constructed. If it is not properly set up, then the survey is bound to fail. This fact requires us to study the main aspects of a questionnaire viz., the general form, question sequence and question formulation and wording. Researcher should note the following with regard to these three main aspects of a questionnaire:

1. General form:

So far as the general form of a questionnaire is concerned, it can either be structured or unstructured questionnaire. Structured questionnaires are those questionnaires in which there are definite, concrete and pre-determined questions.

Structured questionnaires

These are simple to administer and relatively inexpensive to analyse. The provision of alternative replies, at times, helps to understand the meaning of the question clearly.

2. Question sequence:

In order to make the questionnaire effective and to ensure quality to the replies received, a researcher should pay attention to the question-sequence in preparing the questionnaire.

3. Question formulation and wording:

With regard to this aspect of questionnaire, the researcher should note that each question must be very clear for any sort of misunderstanding can do irreparable harm to a survey. Question should also be impartial in order not to give a biased picture of the true state of affairs. Questions should be constructed with a view to their forming a logical part of a well thought out tabulation plan. In general, all questions should meet the following standards—

(a) should be easily understood (b) should be simple i.e., should convey only one thought at a time (c) should be concrete and should conform as much as possible to the respondent’s way of thinking.

ESSENTIALS OF A GOOD QUESTIONNAIRE

To be successful, questionnaire should be comparatively short and simple i.e., the size of the questionnaire should be kept to the minimum.

Questions should proceed in logical sequence moving from easy to more difficult questions. Personal and intimate questions should be left to the end.

Technical terms and vague expressions capable of different interpretations should be avoided in a questionnaire.

Questions may be dichotomous (yes or no answers), multiple choice (alternative answers listed) or open-ended. The latter type of questions are often difficult to analyse and hence should be avoided in a questionnaire to the extent possible.

There should be some control questions in the questionnaire which indicate the reliability of the respondent.

Questions affecting the sentiments of respondents should be avoided. Adequate space for answers should be provided in the questionnaire to help editing and tabulation

Finally, the physical appearance of the questionnaire affects the cooperation the researcher receives from the recipients and as such an attractive looking questionnaire, particularly in mail surveys, is a plus point for enlisting cooperation. STEP 4

PROCESSING OF THE DATA

1. Editing:

Editing of data is a process of examining the collected raw data (specially in surveys) to detect errors and omissions and to correct these when possible. As a matter of fact, editing involves a careful scrutiny of the completed questionnaires and/or schedules. Editing is done to assure that the data are accurate, consistent with other facts gathered, uniformly entered, as completed as possible and have been well arranged to facilitate coding and tabulation. With regard to points or stages at which editing should be done, one can talk of field editing and central editing.

2. Coding:

Coding refers to the process of assigning numerals or other symbols to answers so that responses can be put into a limited number of categories or classes. Such classes should be appropriate to the research problem under consideration. They must also possess the characteristic of exhaustiveness (i.e., there must be a class for every data item) and also that of mutual exclusively which means that a specific answer can be placed in one and only one cell in a given category set. Another rule to be observed is that of unidimensionality by which is meant that every class is defined in terms of only one concept.

3. Classification:

Most research studies result in a large volume of raw data which must be reduced into homogeneous groups if we are to get meaningful relationships. This fact necessitates classification of data which happens to be the process of arranging data in groups or classes on the basis of common characteristics. Data having a common characteristic are placed in one class and in this way the entire data get divided into a number of groups or classes. STATISTICAL TOOLS USED IN DATA ANALYSIS

The data, after collection, has to be processed and analysed in accordance with the outline laid down for the purpose at the time of developing the research plan. This is essential for a scientific study and for ensuring that we have all relevant data for making contemplated comparisons and analysis. Technically speaking, processing implies editing, coding, classification and tabulation of collected data so that they are amenable to analysis.

MEASURES OF CENTRAL TENDENCY Measures of central tendency (or statistical averages) tell us the point about which items have a tendency to cluster. Such a measure is considered as the most representative figure for the entire mass of data. Measure of central tendency is also known as statistical average. Mean, median and mode are the most popular averages. Mean, also known as arithmetic average, is the most common measure of central tendency and may be defined as the value which we get by dividing the total of the values of various given items in a series by the total number of items. we can work it out as under:

SUM OF ALL OBSERVATION NO. OF OBSERVATION

X1+X2+X3+X4+X5 5 Mean is the simplest measurement of central tendency and is a widely used measure. Its chief use consists in summarising the essential features of a series and in enabling data to be compared. It is amenable to algebraic treatment and is used in further statistical calculations. It is a relatively stable measure of central tendency. But it suffers from some limitations viz., it is unduly affected by extreme items; it may not coincide with the actual value of an item in a series, and it may lead to wrong impressions, particularly when the item values are not given with the average. However, mean is better than other averages, specially in economic and social studies where direct quantitative measurements are possible. CHAPTER-7

INPUTS FOR THE RESEARCH

1. Our sample size was Fifty employees per organization i. e from The Royal Bank of Scotland & from The Andhra Bank.

2. These employees were carefully selected with a suitable mixture of all grades & the results were compared accordingly.

3. The pre-set questionnaires were distributed among all the employees/ sample.

4. The information obtained was then converted into statistical form for further calculations.

5. The data was then arranged & the level of employee satisfaction was analysed as per the result of the survey obtained.

6. The employees were selected from all the bands that come under the officer grade in both the organizations.

7. For Royal Bank of Scotland:

The officer band starts from grade H followed by I, J , K ,L hence it was made sure that the sample size comprises of individuals from all brackets.

8. Similarly for Andhra Bank: The sample comprised of individuals from grade 2 officer, Grade 1 & finally the managerial level.

9. The data from both the organizations was thus converted in tabular form & pie- chart.

10. The results were compiled as well as compared so as to have a comparative analysis of how the employee satisfaction differs of a Private Bank differs from a Public Sector Bank.

11. An average was taken, so as to calculate the affirmation of the employees to the questios put to them & accordingly the results were calculated.

I have mixed emotions about confidential or secret surveys. On the one hand, I want the employees comfortable responding in a truthful manner. On the other, the reason employers do employee satisfaction or customer satisfaction surveys is to telegraph their openness to employee input. The second is to genuinely understand what is on their employees’ minds. While I recognize that some employers have differing motivations, companies that are employee-oriented, are unlikely to use the information gathered negatively. If you start with an open process, employees will learn that their employer can be trusted to use the information in their best interests.

I always explain to employees that my purpose in talking with them is to share information for the common good. Consequently, my promise about confidentiality is that I will use the information to assist the company to make positive progress. You can use a simple paper and pencil instrument, an online survey, or a much more sophisticated process to assess your employees' satisfaction.

Some fundamentals for successful, trustworthy employee satisfaction surveys and focus groups exist in each instance. I have reviewed few important factors here. CHAPTER-8 RESULT

The results for the survey are expressed below,

The below table shows the employees in both the banks in various departments which were roped in for the survey for the Royal Bank of Scotland.

ROYAL BANK OF SCOTLAND GRADE EMPLOYEE TOTA S S CATEGORY L H 20 NEW JOINEES/ FRESHERS I 10 Sr. EMPLOYEES J 8 SUPERVISORS K 8 TEAM LEADERS L 4 DEPT. HEADS 50

Employees roped in from Andhra Bank for the survey

TOTA ANDHRA BANK DISPERSION L CUSROMER 2 30 SERVICE 1 16 Sr. EMPLOYEES MANAGERIAL 4 DEPT. HEADS 50

The employees were also counted on the duration for which they had worked in the organization so as to understand their understanding of the organization.

The results of which are as follows:

DURATION RBS AB > 3 MONTHS 4 0 3 MONTHS- 1Yr 7 1 1-3 Yrs 6 6 4-6 Yrs 3 4 7-10 Yrs 12 15 < 10 Yrs 8 24 The results for the survey are given as follows:

1. FOR THE ROYAL BANK OF SCOTLAND

THE ROYAL BANK OF SCOTLAND S. VERY VERY N SATISF SATISF NEUTR DISSATIS DISSATIS TOT o QUESTIONS IED IED AL FIED FIED AL 1 Salary 32 8 0 0 0 50 2 Benefits 45 3 2 0 0 50 Connection between pay 3 and performance 42 5 3 0 0 50 Security and 4 administration 15 20 12 5 3 50 5 options/pension plans 28 12 4 5 5 50 6 Workload 39 7 4 0 0 50 7 Flexibility of work hours 40 4 2 4 0 50 Physical working 8 environment 42 7 1 0 0 50 Opportunity for 9 advancement 47 3 0 0 0 50 10 Job security 27 10 6 7 0 50 Ability to influence 11 decisions that affect you 10 2 33 5 0 50 Ability to influence day- 12 to-day company success 8 2 4 14 22 50 Opportunity to use new 13 technologies 18 3 0 2 28 50 Opportunity to work on 14 interesting projects 22 4 8 2 4 50 Access to company- sponsored training and 15 seminars 34 6 0 10 0 50 Communication with 16 your supervisor 47 3 0 0 0 50 Recognition received 17 from your supervisor 46 4 0 0 0 50 Your supervisor's 18 management capabilities 35 8 7 0 0 50 2. FOR ANDHRA BANK

THE ANDHRA BANK S. VERY VERY N SATISF SATISF NEUTR DISSATIS DISSATIS TOT o QUESTIONS IED IED AL FIED FIED AL 1 Salary 13 26 6 2 1 50 2 Benefits 34 12 4 0 0 50 Connection between pay 3 and performance 23 22 0 5 0 50 Security and 4 administration 32 4 4 5 5 50 5 options/pension plans 44 6 0 0 0 50 6 Workload 38 6 4 2 0 50 7 Flexibility of work hours 42 5 3 0 0 50 Physical working 8 environment 30 8 7 5 0 50 Opportunity for 9 advancement 25 3 8 2 12 50 10 Job security 42 5 0 3 0 50 Ability to influence 11 decisions that affect you 19 4 0 5 22 50 Ability to influence day- 12 to-day company success 17 2 1 11 19 50 Opportunity to use new 13 technologies 15 0 0 2 33 50 Opportunity to work on 14 interesting projects 22 1 2 0 25 50 Access to company- sponsored training and 15 seminars 19 7 5 3 16 50 Communication with 16 your supervisor 27 13 6 3 1 50 Recognition received 17 from your supervisor 22 15 2 5 6 50 Your supervisor's 18 management capabilities 29 11 5 0 4 50 IN ROYAL BANK OF SCOTLAND:

ROYAL BANK OF SCOTLAND VERY VERY SATISF NEUTR DISSATIS DISSATIS TOTA SATISFIED IED AL FIED FIED L AVERA GE 32.05 6.74 4.77 3 3.44 50 PERCE NT 65.1 12.48 9.54 6 6.88 100

In the Royal Bank of Scotland, the results were quite positive & denoted that the employees were really happy working in the organization.

Majority of the employees were highly satisfied with their jobs & had little complaints whereas few of them were rated as satisfied.

Satisfaction was fairly in the departments which offered higher pay & incentives.

Moreover, the employees who were highly dissatisfied were on the context of security, pension & use of new technologies.

The graph below denoted the data in statistical form which can make the results more clear, precise & understandable.

The above graph shows the average no. of employees who responded to various clauses of the question. The above chart shows the percentage of employees and their response during the survey. THE ANDHRA BANK

ANDHRA BANK VERY VERY SATISFI SATISF NEUTR DISSATIS DISSATIS TOT ED IED AL FIED FIED AL AVERA GE 27.3 8.33 3.45 2.94 8 50 PERCE NT 55.1 16.6 6.38 5.88 16 100

In the Andhra Bank, the results were less positive & denoted that the employees were quite happy working in the organization.

Majority of the employees were satisfied with their jobs & had much complaints whereas few of them were rated as satisfied & neutral.

Satisfaction was fairly in the departments which offered higher pay & incentives.

Moreover, the employees who were highly dissatisfied were on the context of s Opportunity for advancement, ability to influence decisions that affect you, Ability to influence day-to-day company success.

The graph below denoted the data in statistical form which can make the results more clear, precise & understandable. The above graph shows the average no. of employees who responded to various clauses of the question.

The above chart shows the percentage of employees and their response during the survey. CHAPTER-9 CALCULATIONS

For employee satistaction, average of all categories was taken. e.g employees who are very satisfied = sum of all employee responses

no. of questions(18) employees who are satisfied = sum of all employee responses

no. of questions(18)

Percentage was calculated by the following formula

% age= average of employee response* 100 Total sample size(50)

EXAMPLE:

In terms of employees who are very satisfied in RBS=

Sum of all employee response in satisfied category = 577 18 18

= 32.05

%age = 32.05*100 50

= 65.1% CHAPTER-10

FINDINGS & ANALYSIS

Through this survey I found that

1. Employees in private organizations are more happy & satisfied than the employees in a government organization.

2. Hence still there is a craze for government jobs in today’s youth.

3. People who tend to give more importance to money tend to be inclined towards private organizations.

4. Inspite of variour retirement plans in the market, still people are inclined towards pension & miss this void in private organizations CHAPTER-11

APPENDIX

QUESTIONAIRE

PERSONAL DATA:

Name:

Age:

Please select your department:

Sales System Engineers Sales Professional Services Marketing Customer Service General Administration Other

What is your gender?

Male Female

How long have you worked for (Company)?

Less than 3 months 3 months - 1 year 1 - 3+ years 4 - 6+ years 7 - 10+ years 10+ years

LEVEL OF AGREEMENT:

Please indicate your level of agreement with each of the following statements

Very Somewh Neut Somewh Very N/A at ral at dissatis satisfi satisfied dissatisfi fied ed ed Salary

Benefits

Frequency and amount of bonuses

Connection between pay and performance

Security and administration options/pension plans

Workload

Flexibility of work hours

Physical working environment

Opportunity for advancement

Job security

Ability to influence decisions that affect you

Ability to influence day-to-day company success

Opportunity to use new technologies

Opportunity to work on interesting projects Access to company- sponsored training and seminars

Communication with your supervisor

Recognition received from your supervisor

Your supervisor's management capabilities

Your supervisor's active involvement in your career development

Your overall relationship with your supervisor

Your relationship with your peers

Your relationship with customers/clients/e nd users

Your understanding of the business mission

Your overall satisfaction with your company

Overall satisfaction with your job CHAPTER-12

RECOMENDATIONS

Employee satisfaction surveys and facilitated focus groups help the employer identify areas of employee satisfaction and dissatisfaction. For accurate, reliable results, employee satisfaction surveys or focus group questions need to be:

Developed by professionals who understand how to put questions together that obtain unbiased information.

Administered appropriately with care and consideration for the organization's culture and communication.

Analyzed by people who understand survey research and can provide effective analysis.

Further, in the interest of building a relationship of honesty, integrity, and trust, among organization employees, the results should be communicated effectively and acted upon by the organization.

Finally, the organization's managers need to track progress and communicate implementation successes and failures.

Communicate the Fact That While Employee Responses Are Confidential, the Data Gathered Will be Used to Improve the Workplace.

The Questions Asked Really Do Matter

No one is as familiar with your company culture as the people who work in the company every day. A small group of employees should determine the topics of the questions to ask. These questions will relate to the perceived likes, dislikes, and challenges your employees might experience in your organization.

Once you’ve determined the topics of the questions to ask, develop questions. Your questions should be evaluated to make sure they are not leading to a desired response, vague, or open to interpretation, depending on the employee reading the question.

Leading questions or statements are a problem when unqualified individuals develop the survey questions. An example of a leading statement that will also receive a biased answer is: My manager’s door is always open to me. An example of an unclear statement is: My career development and job satisfaction are improved by the performance development planning (PDP) process. Some professional survey firms have developed databases of questions that have been determined to be effective through years of employee or customer satisfaction surveys in different organizations. You might tap into this service even if you don’t want to employ an external company to administer your survey or lead your focus groups.

Hold Employee Focus Groups or Survey Processes at Your Work Site

If you take employee groups offsite to participate in surveys and focus groups, you are sending a clear message that it is not “safe” to talk about employee satisfaction in the company. This is exactly the opposite of the message that you really want to send. Your message? It is safe to share what you think. The company cares about what you think and the employer is providing the space and privacy necessary for your participation.

Never Lose Control of Your Data

While you don't want to know that Mary made that observation, you do want to know that three versus thirty employees made the observation. If you work with a consultant to administer an employee satisfaction survey or run employee focus groups, make sure you will have access to the data.

This access to the data and analysis will allow you to assess the degree to which various opinions permeate your workforce. The data will allow you to make your own assessment of employee satisfaction. Particularly correlation analysis and other data charts and graphs are important for you to access.

Maintain access to the data and the analysis.

Never Allow Employees to Self-select for Participation in Surveys and Focus Groups Employees should never self-select to participate in an employee focus group or survey. When you allow self-selection, you’ll generally find that less satisfied or very satisfied employees sign up for the group.

Or, your more communicative employees are more comfortable expressing their opinions in a group. Your less communicative staff is guaranteed to be unrepresented. CHAPTER-13 REFERENCES http://www.dqsindia.com http://archaeology.about.com http://business.mapsofindia.com http://www.mckinsey.com