QUALITY OF WORK LIFE OF EMPLOYEES WORKING IN PRIVATE SECTOR BANKS OF RAIPUR REGION WITH SPECIAL REFERENCE TO ICICI BANK LTD.

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QUALITY OF WORK LIFE OF EMPLOYEES WORKING IN PRIVATE SECTOR BANKS OF RAIPUR REGION WITH SPECIAL REFERENCE TO ICICI BANK LTD., RAIPUR Suresh K. Pattanayak 1, Dr. Monika Sethi 2 1,2 Asst.

1 QUALITY OF WORK LIFE OF EMPLOYEES WORKING IN PRIVATE SECTOR BANKS OF RAIPUR REGION WITH SPECIAL REFERENCE TO ICICI BANK LTD., RAIPUR Suresh K. Pattanayak 1, Dr. Monika Sethi 2 1,2 Asst. Professor,Raipur Institute of Technology,Raipur (C.G.) Abstract:Quality of Work Life is becoming an increasingly popular concept in recent times. It basically talks about the methods in which an organization can ensure the holistic well-being of an employee instead of just focusing on work-related aspects. It is a fact that an individual s life can t be compartmentalized and any disturbance on the personal front will affect his/her professional life and vice-versa. The purpose of my paper is to gain an insight into current working life policies and practices of Employees in ICICI Bank Ltd in Raipur. Several notable factors that influence qualities of work life are Fair Compensation, Safe and healthy working environment, adequate performance appraisal, career growth opportunities, Training & development etc. QWL provides for the balanced relationship among work, non- work and family aspects of life. In other words, family life and social life should not be strained by working hours including overtime work, work during inconvenient hours, business travel, transfers, vacations, etc. This paper is based on the information given by the Bank s Employees and through questionnaire filled by the employees. Key Words: Quality of Work Life, ICICI Bank employees, Qualities, Performance I. INTRODUCTION Quality of Work Life (QWL) has become one of the most important issues these days in every organization. Employees are the force that is behind every successful organization. No organization can become successful with technology only because for the use of technology also, organizations need to have strong work force. Quality of Work Life was the term actually introduced in the late 1960 s. From that period till now the term is gaining more and more importance everywhere, at every work place. Initially quality of work life was focusing on the effects of employment on the general well being and the health of the workers. But now its focus has been changed. Every organization need to give good environment to their workers including all financial and non financial incentives so that they can retain their employees for the longer period and for the achievement of the organization goals. The factors that influence and decide the Quality of work life are: 1. Fair Compensation, 2. Safe and healthy working environment, 3. Career growth opportunities, 4. Adequate performance appraisal 5. Flexible work schedule 6. Training & development 7. Organisational climate 8. Stress Level 9. Communication 10. Job All Rights Reserved 366

2 At the end we can say that a happy and healthy employee will give better turnover, make good decisions and positively contribute to the organizational goals. II. LITERATU REVIEW Hack man and Oldham (1976) drew attention to what they described as psychological growth needs as relevant to the consideration of Quality of working life. Several such needs were identified; Skill variety, Task Identity, Task significance, Autonomy and Feedback. They suggested that such needs have to be addressed if employees are to experience high quality of working life. Mirvis and Lawler (1984) suggested that Quality of working life was associated with satisfaction with wages, hours and working conditions, describing the basic elements of a good quality of work life as; safe work environment, equitable wages, equal employment opportunities an1d opportunities for advancement. Baba and Jamal (1991) listed what they described as typical indicators of quality of working life, including: job satisfaction, job involvement, work role ambiguity, work role conflict, work role overload, job stress, organizational commitment and turn-over intentions. Baba and Jamal also explored reutilization of job content, suggesting that this facet should be investigated as part of the concept of quality of working life. Sirgy et al.; (2001) suggested that the key factors in quality of working life are: Need satisfaction based on job requirements, Need satisfaction based on Work environment, Need satisfaction based on Supervisory behaviour, Need satisfaction based on Ancillary program, Organizational commitment. Gupta and Sharma (2010) focused a study on Quality of Work Life of telecom sector employees and they determined whether and how the Quality of Work Life affects the satisfaction level of employees of telecom sector. Article find outs few factors such as Adequate income & fair compensation, safe & healthy working conditions, opportunities to use & develop human capacity, opportunity for career growth, social integration in the work force, constitutionalism in work organization, eminence of work life and social relevance of work so, authors suggested that Quality of Work Life in BSNL can be enhanced by above mentioned factors. Tenth AIMS International Conference on Management January 6-9, III. OVERVIEW of ICICI BANK ICICI Bank is India s largest private sector bank with total assets of Rs. 6, billion (US$ 103 billion) at March 31, 2015 and profit after tax Rs billion (US$ 1,788 million) for the year ended March 31, The Bank has a network of 1,563 branches and about 4,883 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. IV. OBJECTIVE OF STUDY: To have an insight into the Quality of Work Life in the Branches of ICICI Bank Ltd in Raipur. To find a relationship between the Quality of work life and the satisfaction level of employees of ICICI bank All Rights Reserved 367

3 Whether ICICI Bank providing good policies to employees regarding training, working conditions, performance appraisal etc or not. V. RESEARCH METHODOLOGY: To achieve the Objectives of research study personal interviews were done as the mode of survey so that maximum information could be collected. Employees at various levels working in the Branches were interviewed and Questionnaire was filled up. The questionnaire was structured with open ended & close ended questions. Data Collection: Primary Data will be collected by visiting the local private banks premises and distributing the questionnaires for obtaining the responses. In total 12 branches of ICICI are considered for the survey. The simple random sampling method will be adopted for the selection of respondent for the study. From individual branches researcher had selected minimum 10 employees starting from top level employees, middle level employees and lower level employees. The researcher has applied simple random sampling method in the study. The sampling in the study was limited to precise group of people such as Top level, Middle level and lower level employees. The Questionnaire was sent to some 450 respondents. We received a total of 148 filled in Questionnaire out of which 120 was complete and usable. The secondary data has been used to collect information regarding the top private sector banks(icici) and the various branches that are located in the Raipur region. Research Plan Research Design Descriptive Research Sampling Technique Sample Plan Simple Random Sampling Data Source Primary and Secondary Data Research Instrument Measurement Scale Questionnaire based survey 5-point Scale Likert s Sample Size 12 branches *10 respondents each 120 respondents) Sample Location Raipur City of Chhattisgarh Sample Unit Employees of Top, middle and lower levels in the Organization VI. RESULTS AND ANALYSIS The data received from the survey was analyzed into 2 categories. The first analysis shows the demographic distribution of the respondents. The second is a descriptive analysis based on the response count, mean and standard deviation score using SPSS software 21.0 Profile of respondent: Table -1 gives a clear picture of the demographic profile of the respondents on position in organization, Gender, Year of All Rights Reserved 368

4 Table 1 Demographic profiles of respondents Designation of the Respondent Frequency Percentage Top Level Middle Level Lower level Total N= Gender Frequency Percentage Male Female Total N= Year of Experience Frequency Percentage Less than 1 year to 3 years to 5 years More than 5 years Total N= Descriptive statistics for QWL factors: The descriptive analysis was done by calculating the frequency counts, mean scores and standard deviation scores. Table 2 represents the details of the same. Table 2 Mean Scores, Standard Deviation QWL Factors Response Count Mean Score Standard Deviation Fair compensation Safe and Healthy working environment Career growth opportunities Adequate performance appraisal Flexible work Schedule Orgnisational Climate Training & development Stress Level Communication Job satisfaction The data was collected on a five point Likert scale where 5 = Strongly agree, 4= Agree 3=Undecided, 2= disagree,1 =Strongly Disagree. The median of these values are 3.5. Total 7 factors are found to have the mean above 3.5 and are considered to be very important for the QWL. VII. FINDINGS The researcher has taken all the three level (Top, Middle and Lower) employees working in the Branches of ICICI Bank Ltd in Raipur. With the personal interviews researcher came to know about All Rights Reserved 369

5 of information regarding the bank s policies and employees problems they are facing in the organization. There are 12 Branches of ICICI Bank Ltd in Raipur region. Mainly the employees are on the Lower level. Nearly 54% comes under this designation. In Middle level are 36% and as the rank goes higher percentage also goes down, only 10% are Top level. There are 40% of the employees who are just 1 years old in the organization. Only 27 % o f the employees are 1-3 years old and to my surprise only 8% employees who have spend more than 5 years in the Bank.55% of the employees are satisfied with the working environment of the organization. Most of the employees are satisfied with Safety healthy environment. The major reason for dissatisfaction is that there is no facility of transportation provided to the employees. 56% of the employees are having fair and cordial relations with their supervisor and colleagues, only 10% says that they are having bad relations with their supervisor and peer group. Employees are not happy as they are not provided with Job Rotation. They just get fed up with the same routine work for long time and moreover this also results in less learning. 68% says that there is no job rotation in the organisation. 69% of the employees say that they are provided training for their overall development and growth. And the best part here is that they do get there salary for that period also. Only 31% of the employees say that they would refer a friend to apply for the job in this Bank. This means that they are not happy in the organisation. The most alarming point that came into forefront is that 90% of the employees says that there is not enough growth opportunities in the organisation. It clearly means that whenever they will get good opportunity outside they will leave this organisation. During the interaction with the employees researcher got to know that there are no Health Camps and Yoga Camps being organised in the Bank for the employees. On the basis of the questionnaire researcher got to know that 66% of the employees feel that the management is not flexible with their social responsibilities. And only 18% says that they are satisfied with their jobs. VIII. CONCLUSION On the basis of study researcher can say that employees of ICICI bank Ltd in Raipur are somehow happy with the working conditions of the Bank. They feel that they are safe and secure in Bank. They feel that Bank should start their own transport facilities for the staff. However, the dissatisfaction among them is the less growth opportunities. They are not provided with extra care like health camps etc. They are not happy with the way performance appraisal is done and feel that there management is not flexible with their social responsibilities and hence they are less satisfied with their jobs. REFERENCES 1. Anita, B., (2008) Quality of work Life in commercial Banks, ISBN ,pg. no James B., Anthony F., Quality of work Life Assessment, ISBN , pg.no Hannif, Zeenobiyah et.al, Call Centers and the Quality of Work Life: Towards a Research Agenda, Journal of Industrial Relations, 50(2), PP Hsu, M. Y. and, Kernohan, G., (2006) Dimensions of hospital nurses Quality of working life. Journal of Advanced Nursing, 54, PP Baba, VV and Jamal, M., (1991) Reutilization of job context and job content as related to employee s quality of working life: a study of psychiatric nurses. Journal of organisational behaviour Hackman, J. and Oldham, G.,(1974),The Job Diagnostic Survey. New Haven: Yale All Rights Reserved 370

6 7. Mirvis, P.H., and Lawler, E.E., (1984) Accounting for the Quality of Work Life. Journal of Occupational Behavior, Sirgy, M. J., Efraty, D., Siegel, P & Lee, D. (2001). A new measure of quality of work life (QWL) based on need satisfaction and spillover theories. Social Indicators Research, 55, Walton, R.E. Improving the QWL, Harvard Business Review, 19 (12), May-June, 1980, Hossain, Md. Mosharraf. Job satisfaction of commercial banks Women Employees in Bangladesh - A Comparative study of private and public sectors, Indian Journal of Industrial Relations, 35 (3), 2000, Mirsepasi and Naser.,(2006) The mutual impact of productivity and QWL. Economics and Management Journal. 12. Straw, R.J. and Heckscher, C.C. QWL: new working relationships in the communication industry. Labor Studies Journal, 9, All Rights Reserved 371

EMPLOYEES PERSPECTIVE ON QUALITY OF WORK LIFE IN ENGINEERING FIRM

International Journal of Human Resource Management and Research (IJHRMR) ISSN(P): 2249-6874; ISSN(E): 2249-7986 Vol. 4, Issue 2, Apr 2014, 39-46 TJPRC Pvt. Ltd. EMPLOYEES PERSPECTIVE ON QUALITY OF WORK