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Chapter - I

INTRODUCTION

This chapter is introductory in nature. It presents the concept of motivation and job

satisfaction in State Bank of India (SBI) and Industrial Credit and Investment

Corporation of India (ICICI). This chapter presents the need, and the importance of the

study, the objectives, scope of the study, period of the study, methodology adopted

chapterisation and limitations of the study.

1.1 Introduction

In India the processes of liberalization and globalization have set in since the early 1990s.

During the last one and half decades the Indian economy witnessed rapid growth due to

the encouraging policy decisions and rising capital inflows. It also led to the usage of the

latest technology in communication, information, manufacturing and other sectors. This

has increased the need for knowledgeable and motivated workforce, as important drivers

for growth.

Motivation is based on growth needs. It is an integral engine which shows its effect on

the minds of individuals and the benefits it generates over a period of time. Motivation

represents those forces which act within people giving them a specific goal oriented

behavior. Since work motives affect the employees’ productivity, one of the

responsibilities of the management is to channelize employees’ motivation towards

achieving organizational goals

Motivation can be said to be the consequence of an interaction between the individual

and the situation. It has a tremendous impact on the performance of the employees.

External forces such as competition, rules and regulations and other environmental

factors impact organizational performance. Much of the managerial discourse asserts that

organizational goals are largely achieved through the effort of the employees. If they are

motivated to perform, organizations will not only achieve goals but also will be more

productive.

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The effective use of work practices such as employee recruitment and selection

procedures, incentives; compensation and performance management systems not only

increase employee involvement in work but also improve their knowledge, skill and

abilities. These act as motivators thereby reducing employee attrition and enhancing

retention of quality employees.

A comprehensive definition of motivation—“Motivation is a process which begins with a

physiological or psychological need or deficiency which triggers behaviour or a drive that

is aimed at a goal or an incentive.”--- Luthans (1989). As per the above definition there

are different types of motives.

Primary Motives are physiologically oriented. Such motives are also termed as

biological, unlearned motives.

Secondary Motives are more significant motives. These are essentially the learned

drives that become secondary motives.

There is another category of motives which can neither be classified as primary

nor as secondary. These can be referred to as general motives. These motives are

unlearned but not physiologically oriented.

Motivation can work in two ways, internally and externally. When a person is self driven

he or she is said to be motivated internally. On the other hand, financial benefits, perks,

fame, bonus, responsibilities, fear and other external factors play an important role in

motivating people externally.

1.2. Motivation of employee’s

Increasing employee motivation, satisfaction and performance levels are key

organizational aspects nowadays. Motivating employees is a challenging task for

organizations. Motivation helps in increasing productivity and performance of employees

by understanding and satisfying their needs which in turn increases the goodwill of the

organization. The employees are the greatest assets of any organization and maintaining

good human resource policies has an important role in motivating the workforce to

deliver high levels of performance, discretionary effort and contribution.

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Motivation can be intrinsic or extrinsic. Intrinsic motivation can be described as the

process of motivation by the work itself in so far as it satisfies the personal needs of the

employee. Intrinsic motivation is self-generated and it is thought that people seek for a

job they think will most satisfy their needs. The factors affecting intrinsic motivation

include for example responsibility, freedom to act, courage to use and develop persons

own skills, interesting tasks and opportunities for advancement. Extrinsic motivation is

the amount of effort other people give to the person to motivate them. Extrinsic

motivation is for example the reward management provide such as pay rises, praise or

promotion. Extrinsic motivators are efficient but the influence doesn’t last long.

Intrinsic motivators tend to have a longer effect as they are inherent and not imposed

from outside. Armstrong (2004) as the needs of individuals differ a lot, it is important to

concentrate carefully on the attachment of goals and incentives given, when goals are

accomplished.

1.3. Job Satisfaction

Over the years, employee satisfaction has been a key area of research among industrial

and organizational psychologists. There are important reasons why organizations should

be concerned with employee job satisfaction, which can be classified according to the

focus on the employee or the organization. First, the human perspective is that people

deserve to be treated fairly and with respect. Job satisfaction is the reflection of a good

treatment. It also can be considered as an indicator of emotional well-being or

psychological health. Second, the utilitarian perspective is that job satisfaction can lead to

behavior by an employee that affects organizational functioning. Furthermore, job

satisfaction can be a reflection of organizational functioning.

The assessment of job satisfaction is a common activity in many organizations where

management feels that employee well-being is important Spector (1997). Some people

like to work and they find working an important part of their life. Some people on the

other hand find work unpleasant and work only because they have to. Job satisfaction

tells how much people like their jobs. Job satisfaction is the most studied field of

organizational behavior.

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It is important to know the level of satisfaction at work for many reasons and the results

of the job satisfaction studies affect both the workers and the organization. At the

workers’ point of view it is obvious that people like to be treated fairly. If workers feel

respected and satisfied at work it could be a reflection of a good treatment. In the

organization’s point of view good job satisfaction can lead to better performance of the

workers which affects the result of the company. Employee satisfaction is generally

considered as the driver of the employee retention and employee productivity. Satisfied

employees are a precondition for increasing productivity, responsiveness, quality, and

customer service Kaplan (1996).

The level of job satisfaction is affected by intrinsic and extrinsic motivating factors, the

quality of supervision, social relationships with the work group and the degree to which

individuals succeed or fail in their work. It is believed that the behavior that helps the

firm to be successful is most likely to happen when the employees are well motivated and

feel committed to the organization, and when the job gives them a high level of

satisfaction. The research showed that the key factors affecting job satisfaction are career

opportunities; job influence, teamwork and job challenge Armstrong (2006).

1.4. Need for the study

It is widely accepted by the organizational theorists that manpower is one of the most

important assets of an organization because things are getting done through employees.

In other words, the success of an organization in realizing its objectives heavily depends

on the performance of its employees. Therefore, it is important to focus on the factors

affecting the performance of the employees. Performance is considered to be related to

the concepts of ability, opportunity and motivation Ivancevich & Matteson (1997).

Ability is a function of skills, education, experience and training. Opportunity refers to

the infrastructure needed to perform a job. Finally, motivation is the desire to achieve a

goal and willingness to exert effort for it.

Motivation is something that can lead to better performance when other conditions are

met. It has an added advantage over others in the sense that while the opportunity and

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ability tend to be stable and difficult to change for the personnel, motivation has

flexibility, that is, it can be changed by some means. Moreover, it is apparent that in the

absence of willingness to perform; capacity and opportunity will not generate the desired

results. Motivation seems to be one of the most important tools of Human Resource

Management. Organizations design motivation systems to encourage employees to

perform in the most effective way but also to attract potential candidates. The key to

create the efficient motivation system is an answer to the question what really motivate

employees.

The importance of motivating people at work is noticeable at all levels of the

organization. Starting from managers who need to be aware of factors that motivate their

subordinates to make them perform well. It seems to be obvious that companies need

motivated employees and without any doubts motivation is an important aspect of Human

Resource Management. However, because of a complex nature of human behavior,

motivation is not easy to understand and to use.

Despite many studies on motivation, managers today are no closer to understanding

employees’ motivation than their counterparts more than a half of a century ago Kovach

(1980). Although, some of the research suggested that money is not as potent as it

seemed to be, many companies tried to implement monetary incentives as their main tool

to motivate employees. Performance related pay became the new mantra that was used

unquestionably by plenty of organizations Frey & Osterloch (2002). Recently, as a result

of a financial crisis, many large and small organizations had to cut costs through

reduction of employees’ salaries and bonuses. The question that has arisen is if there are

other options of motivating employees that would be equally effective but costs more

efficiently.

Money is not what makes the world go; the literature on motivation shows that there are

several other ways to motivate employees. The most well know and often cited theories

can be divided into two categories: content theories and process theories. The first group

is focused on what motivate people. It is represented by authors such as Maslow,

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McClelland and Herzberg who are known by almost everyone who ever read anything

about motivation. The second category – process theories, try to find out how motivation

occurs. Vroom, Adams, Locke and Latham created the most influential process theories.

The points of view presented by the authors of those theories in some aspects are

complementary but in others are totally opposite. That possibly was the reason for other

researchers’ inspiration to conduct own studies on motivation. It resulted in a number of

possible suggestions about motivators that could play a crucial role in increasing

employees’ performance. Some authors Oldham & Hackman (2010) indicate that job

design plays an important role in shaping employees' behavior while others Roche &

MacKinnon, 1970; Allender & Allender, 1998; Lu, 1999; Tharenou, 1993; Mayfield,

Mayfield, & Kopf (1998) suggest that leadership style and freedom given to employees

are crucial in motivating employees. Another group of researchers Luthans & Stajkovic

(2000) Armstrong & Murlis (2004) tries to prove that recognition can be used to motivate

people to perform well. In fact, there are many more examples of the possible motivators

in the literature on a subject of motivation. In this multitude of possible options it is not

easy to answer the question – what in fact motivates employees.

Motivation is the key to organizational effectiveness and is a predictor of performance

and job satisfaction. Although large scale complex organizations have existed for several

hundred years, managerial attention to the role of motivation in such organization is a

more recent phenomenon. It is the realization of personal need satisfaction. Man works

to satisfy his higher order needs and such needs are to be recognized, to be appreciated,

and to feel a sense of achievement in whatever he does.

In Indian organizations, Narain (1973) in a study of 1213 public sector managers found

that managers at all levels recognized security as the most important need to be satisfied

and satisfaction of ego and self actualization needs increased with higher levels of

managerial hierarchy. In another study on semi- government employees Saiyadain (1977)

found that satisfaction of social and security needs was equally emphasized by all levels

and as far as ego and self actualization is concerned the higher the level, the higher was

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their satisfaction. Prasad (1979) in a study of 400 workers found that Indian workers

irrespective of the level of skill generally attach more importance to good wages, job

security, promotion and growth and appreciation of the work.

Dayal and Saiyadain (1970) in a study on 40 personnel found that the factors contributing

to work satisfactorily in order of importance are: achieved recognition, work itself,

responsibility, interpersonal relationships, achievement and growth. The factors leading

to dissatisfactions are supervised, working conditions, company policies and

administration. Pestonjee and Basu (1972) conducted a study of 80 executives and found

that motivators (achievement, recognition, responsibility etc.) contributed significantly

more towards job satisfaction than hygiene (job) factors in the public sector. While in the

private sector, motivators contributed significantly towards the feeling of dissatisfaction.

Singh and Srivastava (1983) collected data on the need for achievement and job

satisfaction of 150 blue collar workers half low producing and other half high producing

on the basis of hours saved. Their results suggest a significant positive relationship

between satisfaction and productivity for high achievers than for low achievers.Various

studies have been conducted to ascertain the top five factors contributing to job

satisfaction of managers and supervisors Ganguli (1954) found adequate money,

promotional opportunity, job security and sympathetic treatment from boss as the most

important factors contributing to job satisfaction in a sample of first line supervisors.

Lahiri and Srivastva (1967) on a sample of 93 middle level managers found

responsibility, domestic life, accomplishment, job security and utilization of abilities on

the job as top five factors contributing to job satisfaction.

Sawlapurkar et.al. (1968) found job contents, opportunity for advancement, job security,

boss and company itself as the most important factors contributing to job satisfaction on a

sample of middle managers. Padki and Dolke (1970) on a sample of 150 supervisors

found recognition, achievement, salary, promotion and responsibility as the most

important factors contributing to job satisfaction. Bhattacharya (1972) on a sample of 210

managers found feeling of doing a worthwhile job, obtaining cooperation from people,

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matching ability with a job and recognition outside the company as the most important

factors contributing to job satisfaction.

Singhal and Upadhya (1972) found an opportunity for promotion, job security, working

condition, work group and opportunity for growth use of abilities, responsibility, home

life, recognition and working conditions as the most important factors contributing to job

satisfaction of supervisors. Kumar, Singh and Verma (1981) on a sample of 117

supervisors considered use of abilities, responsibility, home life, recognition and working

conditions as the most important factors contributing to job satisfaction. Pareek and

Keshato (1981) found nature of work, adequate earning, responsibility, independence,

respect and recognition and achievement as the most important factors contributing to job

satisfaction of middle managers. Lal and Bhardwaj (1981) found relationships with

coworkers, responsibility, relation with supervisor, supervisor’s help in the work; the

work itself as the most important factors contributing to job satisfaction of supervisors.

Joshi and Sharma (1997) found job contents, training, participative management,

communication and advancement as the most important factors contributing to job

satisfaction of 125 managers.

A number of studies have been conducted to find out the factors contributing to job

satisfaction of workers and researchers found earnings, job security, free medical aid,

sympathetic supervisor, leave with more way, opportunity for advancement, suitable

work according to health, comfortable working conditions, adequate personal benefits,

good personal relations with colleagues and supervisors, recognition, achievement, and

promotion as important factors (Bose, 1951; Ganguli, 1954; Ganguly, 1958; Singh &

Wherry, 1963; Lahiri & Choudhari, 1966; Kapoor, 1967; Vaid, 1968; Desai, 1968;

Mukherjee, 1968; Rao & Ganguli, 1971; Lal & Bhardwaj, 1981; Prakasam, 1982; Misra,

1983; Nazir, 1998). Hence an attempt has been made to study what factors contribute to

the employee motivation and job satisfaction in bank employees.

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1.5. Motivation in Public and Private Sector Organizations

Today organizations are required to adapt to the latest technologies in order to sustain

competitive advantage. Economic, social, political and technological changes are the

inevitable challenges that organizations are facing Sydanmaanlakka (2002). Since

changes are taking place in the external business environment, it is mandatory for all

organizations to adapt to the important changes that can be sources of motivation for

competitive advantage. All changes have a direct motivation influence on the

organization as well as on employees.

Organizations, whether public or private, need motivated employees to be effective and

efficient in their functioning, in addition to the other factors. Employees who are

motivated to work energetically and creatively towards the accomplishment of

organizational goals are one of the most important inputs to organizational success.

Consequently, the challenge for organizations is to ensure that their employees are highly

motivated. When the issue is motivation, one of the first things that come to one’s mind is

the concept of incentive, which refers to any means that makes an employee desire to do

better, try harder and expend more energy. With regard to monetary incentives, it can be

argued that private organizations have more financial sources to motivate their employees

than the public organizations. It is known that public employees’ payment levels are

generally low compared to private sector employees. Moreover, while many private

organizations have monetary incentives such as bonuses, commissions, cash rewards etc,

it is quite challenging for the public sector to provide such incentives in adequate levels

in a weak national economy. As a result, it is important to look for any possible

alternative means that can be used to motivate employees in the public sector.

1.6. Need for Motivation in Banking Sector

Banks play a role of considerable economic significance as intermediaries in mobilizing

public savings and channelizing the flow of funds for productive purposes, keeping with

the process of the economic growth of the country. Realizing the importance of the role

of the banks in economic development, Government of India/Reserve Bank of India took

several major initiatives after the country attained independence to gear the banking

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system to serve the national objective. One of the most momentous of such initiatives

was the substitution of public ownership by private ownership, through the medium of an

ordinance, of the 14 largest commercial banks in the private sector on 19 July 1969. This

has popularly come to be known as nationalization of these banks without which it would

not have been possible to transform the class banking into mass banking and align bank

credit to serve the planned priorities and social needs. Branch expansion programs

formulated by the Reserve Bank of India aimed at making available necessary banking

facilities in all parts of the country specially the unbanked rural and semi urban areas.

This was perceived as essential for implementation of project for rural development and

upliftment of economically weaker sections and also spreading the banking habit even in

the remote areas of the country.

The banking industry which is at the core of the financial sector must take the lead. The

reform process started in the 90’s has given the industry a great opportunity. Not only

must the sector become more efficient it must also identify sectors having growth

opportunities and devise strategies to move savings into these sectors.

1.6.1. Banking Services

The Indian banking industry is passing through a phase of the customers' market. The

customers have more choices in choosing their banks. A competition has been established

within the banks operating in India. The new age IT (Information Technology) is

bringing about sweeping changes in the banking industry, forcing them to re-engineer

many of their basic processes and systems. Few of the technology-driven electronic

banking services being offered are viz. Automated Teller Machines ATM, Electronic

Clearing Service (ECS), Electronic Funds Transfer (EFT), tele-banking, internet banking

etc. New technological capabilities could be effectively used to create value and to better

manage customer relationship. Reddy (2001) stated “Banks are at different stages of

technology adoption partly due to their different legacies, as much as the differences in

their strategic approaches to computational and technology absorption”.

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The foreign banks are ahead in offering better banking services and products, coupled

with smart use of IT adoption and have considerably achieved high operational efficiency

RBI (2001). The study found that there was an effective implementation of e-banking

services in case of private banks and foreign banks, whereas, nationalized banks were

found to have a lesser degree of computerization. Dr. Rangarajan, the former Deputy

Governor, Reserve Bank of India, expressed that “Indian banks have to conform to

international accounting standards, if Indian banks are to get their due place and

recognition in the global financial market”.

1.6.2. Banking Technology

Financial reforms had its impact on Indian banks and financial institutions. In the fast

changing financial environment, fierce competition and changes in the regulatory policies

created uncertainty and risk for the Indian banking industry. Realizing this fact,

academicians and practitioners highlighted in their studies that information source in

banks is of capital importance and they look at information technology as a strategic

response to changing financial environment/challenges.

The RBI Report (1991) was the first path breaking step in this direction, which

highlighted that computerization must be looked upon as a means to improve customer

service and efficiency and that the banks’ workforce should realize that mechanization

would lead to growth and employment expansion. Subsequently, the Narasimham

Committee (1992), while highlighting the problems faced by Indian public sector banks

and as an antidote to the identified lacunae, also stressed the need for a greater measure

of computerization in banks. The committee observed that modern banking involves a

great deal of processing of a mass of information and commitment to technology is the

only solution that ensures timeliness, accuracy and resultant improved performance and

enhanced customer service build. On similar lines, several academicians and practitioners

argued that technology in banks would help to increase the level of productivity and

customer satisfaction. To meet the challenges posed by the entry of foreign banks, Indian

banks will have to invest heavily in technology to meet competition, reduce costs,

improve customer service, improve productivity and offer new products/services.

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Technology in service organizations is important for success and success can be delivered

only by motivated and satisfied employees who compete to fulfill the requirements of the

banks.

1.6.3. Current Scenario

Currently, overall banking in India is considered as fairly mature in terms of supply,

product range and reaches even though reach in rural India still remains a challenge for

the private sector and foreign banks. Well- computerized foreign banks are beginning to

compete seriously with the nationalized banks. They aim at a profitable and wealthy part

of the market and, in contrast to the nationalized banks, do not recognize any social

responsibilities to small account holders or to a rural and semi urban clientele. Almost

80% of the businesses are still controlled by Public Sector Banks (PSBs). PSBs are still

dominating the commercial banking system. The bank system is facing the challenges

with stiff competition and advancement of technology; the services provided by banks

have become more easy and convenient. The competitive character has been promoted by

facilitating the entry of foreign banks. The country is flooded with foreign banks and

their ATM stations. Efforts are being put to give a satisfactory service to customers.

Phone banking and net banking are introduced. The entire system has become more

convenient and swift. Time is given more importance than money. Although a few

decades ago, banking organizations tended to be unchanging, nowadays, they need to

adjust all the time since technological revolution is always changing. Since the

rationalization of the structural changes is indeed vital, banks whether public or private

sector must apply appropriate motivational tools in order to improve better performance.

The root of motivation to achieve the desired goal can vary from individual to individual.

For instance one employee may be motivated in his work to earn a higher commission,

whereas another employee may be motivated by the satisfaction it provides or by the

surrounding environment solely Tietjen & Myers (1998). The major factors of motivation

are one’s needs, rewards, wealth, determined goals, beliefs and dignity Vroom (1995).

Moreover, failure, achievement or else liability may motivate some employees to carry

out forceful devotion to their work.

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As these days banking sector is characterized by high competition, bank employees, on

behalf of their respective banks, are the best sources of delivering better services to their

customers. To sustain competition and in order to survive in the marketplace, employees

must be motivated and satisfied. In line with this purpose, there is a need to study the

factors which affect employee motivation and job satisfaction of SBI and ICICI bank

employees.

1.7. Importance of the study

Work motivation is one of the key areas of organizational psychology that significantly

influences the work behavior of the employees. It can be defined as a process to inspire

employees in achieving organizational objectives. The primary goal of every manager is

to get things done by way of encouraging the employees, for which he should be

motivating them. Motivation is the key to performance improvement. One should have

the encouragement to do something. Creating a motivating environment is a critical, risky

and essential task for every manager. It is fundamental for every manager to create it for

increasing the productivity and performance of every employee.

It is not always true that only money motivates employees and not all motivated

employees are happy. It is always necessary for every organization to have motivated

employees for its survival. They are the cause for increased productivity and goodwill of

organizations in today’s competitive environment. In fact, attracting the talent, enabling

them to give their best and retaining them are the most critical issues faced by all the

organizations. Therefore modern organizations are attracting employees through

monetary and non-monetary incentives such as variable pay, skill based pay, and flexible

benefits to name a few, which are linked with employees’ performance as motivators.

Non-monetary incentives such as employee recognition programs, value individual

employees, as well as group performances in the organizations. It is one of the best forms

of motivation. Employee involvement program, quality circles, job enrichment and

excitement are a few such programs that pave way for personal as well as organizational

growth. Increasingly organizations are realizing that they have to establish an equitable

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balance between the employee’s contribution to the organization and the organization's

contribution to the employees. Globalization has immense pressure on organizations

intending to sustain their competitiveness in the business scenario. The private sector is

facing severe domestic and foreign competition while the public sector is struggling with

escalating personnel costs, sluggish productivity, federal budget cuts and declining state

revenues. One of the major problems faced by Public and Private sectors is lack of

motivated and satisfied workforce.

In this context, the present study “Motivation and Job Satisfaction in SBI and ICICI

banks” assumes importance as this would throw more light on the different parameters of

employee motivation and satisfaction and how motivation techniques enhance

performance when used effectively.

1.8. Statement of the Problem

Employee motivation and satisfaction even after some 50 years of research continue to be

one of the problems and challenges facing organizations today. Motivating the workforce

of an organization to work more effectively to attain the organization’s goals is the most

important task of its management. Employee motivation is an innate force shaped and

maintained by a set of highly individualistic factors, which may change from time to

time, depending on the particular needs and motives of an employee. Findings show that

the factors that motivate employees are the same ones that contribute towards their

satisfaction in the workplace. They also conclude that motivated employees are generally

also satisfied with their work.

Numerous researchers investigated the relationship between work motivation and job

satisfaction in diversified professions but very few studies have contributed to study in

the banking sector. Banks play a role of intermediaries in mobilizing public savings and

channelizing the flow of funds for productive purposes, keeping with the process of the

economic growth of the country. Furthermore, factors such as liberalization, privatization

and globalization, have led to the substitution of public ownership by private ownership

paving way for the emergence of new private and foreign banks.

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In addition to other factors all organizations, whether public or private, need motivated

employees to be effective and efficient in their functioning. Employees who are

motivated to work energetically and creatively towards the accomplishment of

organizational goals become the significant assets in the organizational success.

Consequently, the challenge for organizations is to ensure the sustainability of the

motivation and satisfaction of their employees. Motivation, Job satisfaction and

Performance of employees’ are powerful tools for the long-term success of the

organizations and the banking sector is no exception to it.

The study aims to present the factors contributing towards employee motivation and

satisfaction in commercial banks. Since all the banks, irrespective of their category,

compete in the same market, it is deemed appropriate to analyze leading banks, one from

the public sector and one from a private sector bank. The research area is confined to

study “Motivation and Job Satisfaction in SBI and ICICI Banks”.

1.9. Objectives of the Study

The specific objectives of the study are

1. To examine the motivational practices prevailing in SBI and ICICI Banks.

2. To study the employees’ perceived motivation in the SBI and ICICI Banks.

3. To study the employees’ perceived job satisfaction in the SBI and ICICI Banks.

4. To examine the relationship between the employees’ perceived motivation and

perceived job satisfaction in SBI and ICICI Banks.

1.10. Hypotheses to be tested

The concept of employee motivation and job satisfaction is gaining importance in the

organisations. Many research studies have been made to find out the effect of job

satisfaction and motivation on the productivity of the organisations. The study observes

from the review of literature that there is a direct relation between motivation and job

satisfaction with demographic variables like experience, education, gender and age.

Demographic variables play an important role in the behavioural studies. These are

widely used in the studies of turnover and absenteeism. Demographic variables are the

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societal aspect for an individual. Tenure, age, gender, education and job levels are the 5

most cited demographic variables by the Porter, Mowday (1974). This research is a

further contribution to demographic studies on motivation and job satisfaction. The study

considers demographic variables such as gender, age, education, job experience, annual

income, designation, job security, working in shifts, working days and working hours.

1.10.1. Research Questions

Based on the objectives of the study stipulated above, the following research questions

have been formulated:

(i) Are there statistically significant differences between the respondents’ profile and

dimensions of work motivation such as work content, payment, promotion, recognition,

working conditions, leader supervision, benefits, personal and security of SBI and ICICI

banks?

(ii) Are there statistically significant differences between the respondents’ profile and job

satisfaction of SBI and ICICI banks?

(iii) Is there a statistically significant relationship between employee motivation and job

satisfaction at SBI and ICICI banks?

1.10.2. Research Hypotheses:

Sekaran (2000) defines a hypothesis as “a logically conjectured relationship between two

or more variables expressed in the form of testable statements.”

Hypothesis 1

There are no statistically significant difference between respondents’ profile and work

motivation dimensions such as work content, payment, promotion, recognition, working

conditions, leader supervision, benefits, personal and security of SBI and ICICI banks.

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1a) Banks and Work Motivation Dimensions

H0: There is no significant difference in motivation dimensions of different

employees working with SBI and ICICI Banks, i.e the motivational levels of

employees of SBI and ICICI do not differ significantly.

H1: There is significant difference in motivational levels of employees working

with SBI and ICICI Banks.

1b) Gender and Motivational Dimensions

H0: There is no significant difference in different employees with gender.

H1: There is significant difference in different employees with gender.

1c) Age and Motivational Dimensions

H0: There is no significant difference in different employees with different age

groups.

H1: There is significant difference in different employees with different age

groups.

1d) Educational Levels and Motivational Dimensions

H0: There is no significant difference in different employees with different

education levels.

H1: There is a significant difference in different employees with different

education levels.

1e) Job Experience and Motivational Dimensions

H0: There is no significant difference in different employees with different years

of job experience.

H1: There is a significant difference in different employees with different years of

job experience.

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1f) Income levels and Motivational Dimensions

H0: There is no significant difference in different employees with different

income levels.

H1: There is significant difference in different employees with different income

levels.

1g) Designation and Motivational Dimensions

H0: There is no significant difference in different employees with different

designations.

H1: There is significant difference in different employees with different

designations.

1h) Job Security and Motivational Dimensions

H0: There is no significant difference in different employees with job security.

H1: There is significant difference in different employees with job security.

1i) Working in shifts and Motivational Dimensions

H0: There is no significant difference in different employees with different

working shifts.

H1: There is significant difference in different employees with different working

shifts.

1j) Working days in a week and Motivational Dimensions

H0: There is no significant difference in different employees with different

working days in a week.

H1: There is significant difference in different employees with different working

days in a week.

1k) Working hours and Motivational Dimensions

H0: There is no significant difference in different employees with different

working hours in a day.

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H1: There is significant difference in different employees with different working

hours in a day.

Hypothesis 2

There are no statistically significant difference between respondents’ profile and

employee perceived job satisfaction factors such as pay and benefits, job itself, pride and

career in SBI and ICICI Banks.

2a) Banks and Job Satisfaction

H0: There is no significant difference in Job satisfaction levels of employees

working with SBI and ICICI Banks, i.e. the satisfaction levels of employees of

SBI and ICICI do not differ significantly.

H1: There is a significant difference in job satisfaction levels of employees

working with SBI and ICICI Banks.

2b) Gender and Job Satisfaction

H0: There is no significant difference in different employees with gender.

H1: There is significant difference in different employees with gender.

2c) Age and Job Satisfaction

H0: There is no significant difference in different employees with different age

groups.

H1: There is significant difference in different employees with different age

groups.

2d) Educational level and Job Satisfaction

H0: There is no significant difference in different employees with different

education levels.

H1: There is a significant difference in different employees with different

education levels.

20

2e) Job experience and Job Satisfaction

H0: There is no significant difference in different employees with different years

of job experience.

H1: There is a significant difference in different employees with different years of

job experience.

2f) Income levels and Job Satisfaction

H0: There is no significant difference in different employees with different

income levels.

H1: There is significant difference in different employees with different income

levels.

2g) Designation and Job Satisfaction

H0: There is no significant difference in different employees with different

designations.

H1: There is significant difference in different employees with different

designations.

2h) Job Security and Job Satisfaction

H0: There is no significant difference in different employees with job security.

H1: There is significant difference in different employees with job security.

2i) Working in Shifts and Job Satisfaction

H0: There is no significant difference in different employees with different

working shifts.

H1: There is significant difference in different employees with different working

shifts.

2j) Working Days and Job Satisfaction

H0: There is no significant difference in different employees with different

working days.

21

H1: There is significant difference in different employees with different working

days.

2k) Working Hours in a Day and Job Satisfaction

H0: There is no significant difference in different employees with different

working hours in a day.

H1: There is significant difference in different employees with different working

hours in a day.

Hypothesis 3

Statistically there is no significant relationship between perceived motivation and

perceived job satisfaction.

1.11. Research Methodology and Instrument

The methodology adopted for analyzing Motivation and Job Satisfaction is empirical in

nature. Both qualitative and quantitative methods were applied. A survey method has

been adopted to gather information from respondents. A comparative study has been

made about motivation and job satisfaction of employees in SBI and ICICI.

1.11.1 Sample Size

The question of sample size can be addressed in two ways. One is to make assumptions

about the population and use statistical equations about random sampling process

Neuman (2000). A second more frequently used method is the rule of thumb is a

conventional or accepted amount. Researchers use it because they rarely have the

information required by the statistical method and because it gives a sample size close to

those of the statistical method. Rules of thumb are not arbitrary but are based on

experiences with samples, which have met the requirements of that statistical method

Neuman (2000).

22

The one rough rule of thumb commonly cited is that about 30 observations are needed to

obtain moderately reliable statistics Holbert and Speech (1993). Nevertheless, the rule of

thumb may have to be adjusted upwards if the population has a high variance. One

principle of sample size is, the smaller the population, the bigger the sampling ratio has to

be for an accurate sample. Larger populations permit smaller sampling ratios for equally

good samples Neuman (2000). For small populations (under 1000), a researcher needs a

large sampling ratio (about 20 – 30%). For larger populations (over 150000), a smaller

sampling ratio (1% or less) is possible. Any situation calling for lots of data from each

respondent usually means that fewer people can be surveyed. The other case would be

where the researchers want only a bit of information from each respondent, but need lots

of respondents Holbert and Speech (1993). Crouch (1994) was of the opinion that for

quantitative research, the minimum sample size should be around 300 and 500.

The study is of motivation and job satisfaction in banks. The study is confined in a public

and private sector commercial bank. Since all the banks, irrespective of their ownership

(category), compete in the same market, it is deemed appropriate to analyze a leading

bank within each of the major criteria selected. The sample comprises two top banks in

India, namely the SBI and the ICICI banks. At present, the former is the number one

bank of India in terms of branch network and the latter in terms of market capitalization.

The basic motive behind choosing these two banks is increasing global presence of SBI

and ICICI. The questionnaire was specifically designed to accomplish the objectives of

the study.

The data were collected during the years 2010 and 2011. The number of employees

working at SBI bank in the twin cities of Hyderabad and Secunderabad, during that

period was approximately 1500. A sample of 300 respondents was chosen with 150

employees from SBI bank, which makes 10% of the sample of SBI and an equal number

of sample 150 respondents was considered from ICICI bank. Since the employees’ size is

huge, an equal number of branches belonging to SBI and ICICI in twin cities of

Hyderabad and Secunderabad have been considered to make a comparative study. They

are as follows:

23

Banks

Branches Total

Khairatabad Secundrabad Abids

Bible

House Dilsukhnagar Malakpet Narayanaguda

SBI

20 40 15 15 15 20 25 150

Khairatabad Secundrabad Hubsiguda Begumpet Nallakunta Khakhana Gachibowly

ICICI

10 25 12 12 13 14 64 150

The branches are small and medium sized from the point of view of employment. The

size varies from 10- 50 employees’. Convenience sampling was used to select the sample.

Bank employees’ of cadres such as assistant manager, assistant general managers, deputy

manager, manager, chief manager and clerks were considered. For evaluating the

perceptions of the respondents of both banks the sample selection was so made to obtain

views from a cross section of employees. Questionnaire method was adopted to gather

the information from the respondents. The questionnaire was specifically designed to

accomplish the objectives of the study. The questionnaire consists of 62 questions,

besides 11 questions on the profile of the respondents.

1.11.2. Testing for reliability and Validity

In order to ensure credibility of findings by empirical research, the survey instrument

should have reliability and validity. Reliability refers to consistency. It suggests that the

same thing repeated or recourse under identical or very similar conditions. The opposite

of reliability is a measurement that yields erratic, unstable, or inconsistent results

Neuman (2000). Validity is the match between a construct, a conceptual definition, and a

measure. It refers to actually measure what you define.

1.11.3. Reliability

In this study, statistical analysis is performed by SPSS package. The Cronbach coefficient

alpha is used to measure the internal consistency of the variables; the Cronbach’s and

item to correlation are adopted. To test the validity of the survey instrument, the

questionnaire was pilot tested. 30 questionnaires were distributed to the employees of

24

both SBI and ICICI banks and the results were analyzed using the SPSS package.

Cronbach Coefficient Alpha is used to measure internal consistency of the data; it is a

commonly used measure of reliability. If the Cronbach Alpha is greater than 0.70 means

it has high reliability, if the Cronbach Alpha is between 0.50 and 0.60 the internal

consistency is still acceptable Robinson and Shaver (1973) and if the Cronbach Alpha is

smaller than 0.30 it has low reliability.

The first section collected was on personal information of respondents. It includes

variables such as age, sex, experience, professional status, education, salary and so on.

The second section contained the items, and was divided into two parts. The first part of

the instrument measure work motivation. It is a 43-item questionnaire using a Likert scale

with responses ranging from Strongly Disagree = SD; Disagree = D; NS = Not Sure;

Agree = A; and Strongly Agree= SA; the items were adapted from De Beers (1987)

standardized questionnaire for work satisfaction and motivation was used to collect data.

The tool is a standardized tool and has been widely used by various researchers for

studying employee motivation. The De Beers tool measures motivational orientation with

sub dimensions, hence it can be said that it is difficult to measure the motivational

orientation directly and motivational orientation is a constraint. Motivational orientation

can be quantified with the help of its nine factors viz. Work content, payment, promotion,

recognition, working conditions, benefits, personal, supervisor and general. The

modification yielded a r = 0.74 Cronbach Alpha.

The second part of the instrument contains items that measure job satisfaction; Job

Descriptive Index (JDI) was one of the most commonly used instruments on measuring

employee job satisfaction designed by Smith, Kendall, Hulin (1969). JDI evaluates job

satisfaction in five facets namely pay, promotions and promotion opportunities,

coworkers, supervision, and the work itself. The questionnaire included questions

(Question 1-19) in relation to their satisfaction in terms of “pay”, “promotion, promotion

opportunities”, “coworkers”, “supervision” and “the work itself” with 5-point Likert

scale: ranking from One to Five (1 being of “strongly disagree” and 5 being “strongly

agree”). The pretest applied to measure reliability and validity. The collected item total

25

correlation was 0.50, and if deleting the item (question no 7) increase Cronbach’s α, the

item was deleted. The overall reliability co-efficient of the instrument yielded a r = 0.73

Cronbach’s alpha.

1.11.4. Statistical Techniques

The Statistical Package for the Social Sciences (SPSS) was used for all statistical

calculations. This assisted in describing the data more succinct and to make inferences

about the characteristics of populations on the basis of data from the sample. The

accomplished survey forms were collated, encoded and statistically analyzed. A total

score is calculated for each respondent in terms of the nine categories. Further to measure

the motivation levels to be high or low, the average of each of the nine dimensions has

been taken. The average value above 2.5 is considered to be high motivation and below

2.5 is considered as low motivation.

1.11.5. Descriptive Statistics

Descriptive analysis aims to describe the data by investigating the distribution of scores

on each variable, and by determining whether the scores on different variables are related

to each other Terre Blanche & Durham (1999). The descriptive statistics used in this

study included means, frequencies, percentages and standard deviations. The mean is a

measure of central tendency, which provides an arithmetic average for the distribution of

scores Coolican (1999), Neuman, (1997).

1.11.6. Analysis of Variance (ANOVA)

According to Coolican (1999), anova procedures test the significance of the differences

between sample means where more than two conditions are used, or when several

independent variables are involved. In this study, this statistical method is used to

establish if a statistical significant difference exists between levels of motivation and

biographical variables. According to Hinkle et al (1982), “in anova, the hypothesis is that

the mean performance in the population is the same for all groups (equality of population

means).” They add that mean differences are tested for statistical significance. Motion

26

and Marais (1990) further state that anova makes it possible to appraise the separate and

joint influence of several independent variables on the experimental criterion.

Anova was employed to determine whether there is a difference in the motivation

dimensions based on the respondent’s profile (namely gender, age, educational

background, job experience, Annual salary, designation, job security, working in shifts,

working days, and working hours).

1.11.7. Factor Analysis

To study the job satisfaction levels of the respondent’s factor analysis is adopted. Factor

analysis is a statistical method used to describe variability among observed. Factor

analysis searches for such joint variations in response to unobserved latent variables. The

observed variables are modeled as linear combinations of the potential factors, plus error

terms. The information gained about the interdependencies between observed variables

can be used later to reduce the set of variables in a dataset. Computationally this

technique is equivalent to a low rank approximation of the matrix of observed variables.

Factor analysis originated in psychometric, and is used in the behavioral sciences, social

sciences and other applied sciences that deal with large quantities of data.

1.11.8. Independent Samples t-test

The t-test is used to compare the values of the means from two samples and test whether

it is likely that the samples are from populations having different mean values. The t test

is used for analysis as it compares the means between two unrelated groups on the same

continuum, dependent variable. The respondents' profile of both SBI and ICICI are

compared with the application of t test (namely banks, gender, job security and shifts).

1.11.9. Correlation Analysis

Correlation is a statistical tool which determines the strength and direction of the

relationship between two variables. The value of correlation ranges from +1 to -1 and

both the values show strong positive and negative relationships. While the 0 shows no

27

relationship. Correlation analysis is used to study the relationship between Motivation

and Job Satisfaction.

1.11.10. Regression analysis

As the coefficient of correlation tells only that there is a relationship between the two

variables but it does not clarify the kind of relationship existing between the two

variables. Therefore, regression analysis was carried out to examine the kind of

relationship existing between Motivation and Job Satisfaction. It attempts to determine

the strength of the relationship between dependent variable, job satisfaction and

motivation dimensions being the independent variables.

1.11.11. Scope of the Study

The major focus of the study will be on motivation and job satisfaction in State Bank of

India and Industrial Credit and Investment Corporation of India. The study is confined to

the twin cities of Hyderabad and Secunderabad.

1.11.12. Period of the Study

The study covers a period starting from the year 2008-2013. However, the period varies

depending on the availability of data. The survey was conducted during the past two

years i.e., 2010-2011 and 2011-2012.

1.11.13. Sources of Data

The data for the study includes both primary and secondary sources of data. The primary

data are gathered by means of a structured questionnaire. Information on the

organizations motivational techniques is gathered by conducting interviews with the

managers. The relevant secondary data are collected from reference books, journals, SBI

manuals and website, ICICI bank's website, Reserve Bank of India Publications:

Statistical returns of scheduled commercial banks magazines and newspapers.

28

1.12. Chapterization The plan of the study is as follows

Chapter-I Introduction chapter

This chapter presents the concept of motivation and job satisfaction in selected banks,

State Bank of India (SBI) and Industrial Credit Investment Corporation of India (ICICI).

This chapter presents the need and importance of the study, the objectives, scope of the

study, the period of the study, methodology adopted chapterisation and limitations of the

study.

Chapter-II Review of Literature

It provides an overview of a number of research works and articles that are available on

the subject of employee motivation and job satisfaction.

Chapter-III Profile of Indian Banking Industry

This chapter presents an overview of the Indian Banking Industry. It also presents the

profile of SBI and ICICI Banks. This chapter also presents the motivational practices

adopted by the banks.

Chapter- IV Motivation Analysis

This chapter presents the analysis of employee perceived motivation in SBI and ICICI

banks. It also presents the relationship between employee motivation and respondents'

profile.

Chapter-V Job Satisfaction Analysis

This chapter presents the analysis of employee perceived job satisfaction in SBI and

ICICI banks. It also presents the relationship between employee job satisfaction and

respondents' profile. Further this chapter also presents the relationship between

motivation and job satisfaction.

29

Chapter- VI Summary, Conclusions and Suggestions

This chapter presents the summary and conclusions of the study. It presents the summary

and conclusions emerged from the study.

1.13. Limitations of the study

1. A study of this kind relies heavily on the information available with the

organizations to be studied. The banking sector being huge, the research scope is

confined to study the employee motivation and job satisfaction at SBI and ICICI

banks only.

2. The study is confined only to the twin cities of Hyderabad and Secunderabad.

3. The major limitation of the study is the research focuses on the comparative study

of one bank each from public and private sectors. Other banks belonging to the

same sectors have not been considered.

4. Subjectivity in the feedbacks collected cannot be ruled out.

5. In the process of collection of the data, many respondents were unwilling to fill

the questionnaire due to lack of time. They were reluctant in answering the

questionnaire.

Summary

This chapter has introduced the concepts of motivation and job satisfaction, motivation

and satisfaction in public and private sectors with special reference to banks. It also

presents the need and importance of the study, research methodology for the study

including objectives, hypothesis, data sources, and the data analysis etc. The plan and

limitations of the study are presented.

30

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