A DISSERTATION REPORT

ON

“QUALITY OF WORK LIFE WITH SPECIAL REFERENCE TO HDFC BANK”

Submitted To:

COLLEGE OF MANAGEMENT AND COMPUTER APPLICATION, MORADABAD

In Partial Fulfillment of the Requirement of the Degree of Bachelor of Business Administration (BBA)

SESSION: 2009-2012

Department of ManagementTEERTHANKER MAHAVEER UNIVERSITY

DELHI ROAD, MORADABAD

Project Guide:Mr. Abhinav Srivastav

Project Incharge: Mr. Abhinav Srivastava Mr. Avinash Raj Kumar

(Course Co-ordinator, B.B.A.)

Submitted By:Mohd. Faraz Hussain

B.B.A. VI SemesterRoll No. R0912011214

CERTIFICATE

This is to certify that Ms/Mr................................................................. is

pursuing three year full time Bachelor of Business Administration (BBA)

Course from Teerthanker Mahaveer University, Moradabad as regular student,

in session (2009-2012).

In compliance with the provision/guidelines of Teerthanker Mahaveer

University, Moradabad, He/she has been assigned a market survey project. The

market survey report work has been genuinely carried out by the student for the

during specified by the university.

He/she has made sincere efforts in the completion of the market survey report.

Project Guide

Mr. Abhinav Srivastava

STUDENT DECLARATION

I Mohd. Faraz Hussain hereby declare that the research work presented in this market

survey report entitled “Quality of Work Life” for the fulfillment of the award of

Bachelor of Business Administration from Teerthanker Mahaveer University;

Moradabad is based on my market survey work in the “HDFC BANK”. The market

survey report embodies the result of original work and studies carried out by me and the

contents of the report do not form the basis for the award of any other degree to me or

to anybody else.

Mohd. Faraz HussainBBA 6th Sem

ACKNOWLEDGEMENT

It gives me immense pleasure and privilege to acknowledge my deepest

sense of gratitude towards all those who helped me in the successful

execution of this market survey report.

I would like to thanks Chancellor Sir, Shri Suresh Jain, Group Vice

Chairman Mr. Manish Jain, for their able guidance. I also extend my

gratitude towards the Additional Director Dr vipin jain H.O.D. Dr. M.P.

Singh and my course co-ordinator Mr. Abhinav Srivastava who entrusted

me for the completion of this project. I am highly indebted to my project

guide, Mr. Abhinav Srivastava whose constructive counselling and able

guidance helped me immensely in bringing out this project in the present

form. And lastly the entire faculty member and Mr. Sanjeev Singh

(Librarian) & the entire Lab staff for providing me this opportunity and

expose me to industrial culture.

The acknowledgement would be incomplete without thanking my family

and friend who were a big support throughout.

Mohd. Faraz HussainBBA 6th SEM

PREFACE

Gathering information and theoretical knowledge is a part of study. It become complete when

added with practical knowledge as the noted truth comes to sight. Hence one becomes more

efficient and effective when a flavor of practical out look is added to the bosky mind. As the

study has got wide relevance is formulating valid information about the organization, it helps

in getting a critical look in to the personnel practices of the organization. Organizational

behavior employer employee relationship and the working environment of the organization in

relation to theoretical knowledge. It gives a previous idea about the job and working

environment to the future decision- making how to perform by assigned job successfully and

tact fully.

As there is saying, practice makes a man perfect and the knowledge. This does not deal

with the practical application, is said to be unscientific and unsystematic. More over the

branch of management, which deals with the most critical and important factor of production,

requires not only theoretic background but also some practical experience to have some

knowledge on day-to-day problem solving.

EXECUTIVE SUMMARY

The human resource of an organization constitutes its entire workforce. Human

resource management(HRM) is responsible for selecting and inducting competent people,

training them, facilitating and motivating them to perform at high levels of efficiency,

and providing mechanisms to ensure that they maintain their affiliation with the

organization.

The objective of this project is to find out how much the employees are satisfied and

what is their quality of life. How the HDFC Bank applies the human resource functions in the

organization and out the organization. In this project I make the survey on the employees of

various departments of HDFC Bank, Moradabad.

The project report is divided in various sections like introduction of the company,

topic introduction, survey report and conclusion

Human resources are on major factors of production. It is human asset, which convert

the various resources in to the production resources. It has immense potentialities and it only

human resources, which appreciate with time whereas all other resources undergo the process

of depreciation. Success of an organization mainly depends on the quality of manpower and

its performance.

In early days human resource was not taken as an important factor of production.

Human begin was simple treated as log in the movement increasing emphasis has been given

to the worker as a whole man. The need of vast manpower and their importance was realized

by some of the progressive entrepreneurs. The emergence of Trade Union and their gradual

collective power forced some entrepreneurs to give some district feature of human side by

production. The first among the entrepreneurs who had contributed in the development of

human side of production was Robert Owen, and English Humanist. He took a genuine

interest in the welfare of the workers. But this magnetite was not supported by a major chunk

of entrepreneurs.

Hence the management must give more emphasis on the human side and their proper

utilization. This then remains the cardinal objective of the human relations function to

discover newer ways of understanding man and to motive him to higher standard of

workmanship. Many new experiments such as study of his state university of Michigan etc

have developed the branch of Management beyond margin.

Today an organization having a good inventory of human resources and a dynamic

personnel department is prospective one. So the technique and functions of personnel

management have now come closely integrated with the overall organization strategies n

search of excellence.

CONTENTS

1. Introduction

2. Objectives of the study

3. Company Profile

4. Literature Review

5. Hypothesis

6. Research Methodology

7. Data Analysis & Interpretation

8. Findings

9. Suggestions & Recommendations

10. Conclusion

11. Limitations

BibliographyAnnexure

INTRODUCTION

WHAT IS QWL?

The term refers to the favourableness or unfavourableness of a total job environment

for people. QWL programs are another way in which organisations recognize their

responsibility to develop jobs and working conditions that are excellent for people as well as

for economic health of the organisation. The elements in a typical QWL program include –

open communications, equitable reward systems, a concern for employee job security and

satisfying careers and participation in decision making. Many early QWL efforts focus on job

enrichment. In addition to improving the work system, QWL programs usually emphasise

development of employee skills, the reduction of occupational stress and the development of

more co-operative labour-management relations.

Vigorous Domestic and International competition drive organizations to be more

productive. Proactive managers and human resource departments respond to this challenge by

finding new ways to improve productivity. Some strategies rely heavily upon new capital

investment and technology. Others seek changes in employee relations practices.

Human resource departments are involved with efforts to improve productivity

through changes in employee relations. QWL means having good supervision, good working

conditions, good pay and benefits and an interesting, challenging and rewarding job. High

QWL is sought through an employee relations philosophy that encourages the use of QWL

efforts, which are systematic attempts by an organization to give workers greater

opportunities to affect their jobs and their contributions to the organization’s overall

effectiveness. That is, a proactive human resource department finds ways to empower

employees so that they draw on their “brains and wits,” usually by getting the employees

more involved in the decision-making process.

Quality of work life (QWL) is viewed as an alternative to the control approach of managing

people. The QWL approach considers people as an ‘asset’ to the organization rather than as

‘costs’. It believes that people perform better when they are allowed to participate in

managing their work and make decisions.

This approach motivates people by satisfying not only their economic needs but also their

social and psychological ones. To satisfy the new generation workforce, organizations need

to concentrate on job designs and organization of work. Further, today’s workforce is

realizing the importance of relationships and is trying to strike a balance between career and

personal lives.

Successful organizations support and provide facilities to their people to help them to balance

the scales. In this process, organizations are coming up with new and innovative ideas to

improve the quality of work and quality of work life of every individual in the organization.

Various programs like flex time, alternative work schedules, compressed work weeks,

telecommuting etc., are being adopted by these organizations.

Technological advances further help organizations to implement these programs successfully.

Organizations are enjoying the fruits of implementing QWL programs in the form of

increased productivity, and an efficient, satisfied, and committed workforce which aims to

achieve organizational objectives. The future work world will also have more women

entrepreneurs and they will encourage and adopt QWL programs.

QUALITY CYCLE

Quality circles which have been popularized by Japanese firms are being used all over the

world because of the benefits that accrue to the firm. A quality circle involves participation

from a small group of employees doing the same type of work. They meet regularly to

identify, analyze and solve the problems that arise during the course of their work and their

association with the organization.

The basic objectives of quality circles are to develop and utilize human resources effectively,

to develop quality products, improve the quality of work life and sharpen and utilize an

individual’s creative abilities. There are different steps involved in the development of

quality circles from getting started to problem-solving. Communicating the importance of

quality circles to the employees is of prime importance.

The next step is the composition of a quality circle. Then the stage of initial problem solving

through which employee suggestions are presented, follows. The suggestions are then

evaluated and the best one, chosen by consensus, is implemented. Various techniques like

brainstorming sessions, fish bone diagram and sampling and charting methods, are used in

quality circles.

Problems arise in the implementation of quality circles because of lack of understanding

regarding the concepts, low education levels and training, delays in execution and operational

problems. Most of these problems can be resolved through effective training of employees

and management support.

A Rationale

Job specialization and simplification were popular in the early part of this century.

Employees were assigned narrow jobs and supported by a rigid hierarchy in the expectation

that efficiency would improve. The idea was to lower cost by using unskilled workers who

could be easily trained to do a small, repetitive part of each job.

Many difficulties developed from that classical job design, however. There was

excessive division of labor. Workers became socially isolated from their co-workers because

their highly specialized jobs weakened their community of interest in the whole product. De-

skilled workers lost pride in their work and became bored with their jobs. Higher-order

(social and growth) needs were left unsatisfied. The result was higher turnover and

absenteeism, declines in quality and alienated workers. Conflict often arose as workers

sought to improve their conditions and organizations failed to respond appropriately. The real

cause was that in many instances the job itself simply was not satisfying.

Forces For Change

A factor contributing to the problem was that the workers themselves were changing.

They became educated, more affluent (partly because of the effectiveness of classical job

design), and more independent. They began reaching for higher-order needs, something more

than merely earning their bread. Employers now had two reasons for re-designing jobs and

organisations for a better QWL:

Classical design originally gave inadequate attention to human needs.

The needs and aspirations of workers themselves were changing.

Humanized Work Through QWL

One option was to re-design jobs to have the attributes desired by people, and re-

design organisations to have the environment desired by the people. This approach seeks to

improve QWL. There is a need to give workers more of a challenge, more of a whole task,

more opportunity to use their ideas. Close attention to QWL provides a more humanized

work environment. It attempts to serve the higher-order needs of workers as well as their

more basic needs. It seeks to employ the higher skills of workers and to provide an

environment that encourages them to improve their skills. The idea is that human resources

should be developed and not simply used. Further, the work should not have excessively

negative conditions. It should not put workers under undue stress. It should not damage or

degrade their humanness. It should not be threatening or unduly dangerous. Finally, it should

contribute to, or at least leave unimpaired, workers’ abilities to perform in other life roles,

such as citizen, spouse and parent. That is, work should contribute to general social

advancement.

QUALITY OF WORK LIFE AS HR STARTEGY – AN ANALYSIS

Today’s workforce consists of literate workers who expect more than just money from their

work.

In the modern scenario, QWL as a strategy of Human Resource Management is being

recognized as the ultimate key for development among all the work systems, not merely as a

concession. This is integral to any organization towards its wholesome growth. This is

attempted on par with strategies of Customer Relation Management.

Strategy and Tactics

Over the years, since industrial revolution, much experimentation has gone into

exploiting potential of human capital in work areas either explicitly or implicitly. Thanks to

the revolution in advanced technology, the imperative need to look into QWL in a new

perspective is felt and deliberated upon. Major companies are tirelessly implementing this

paradigm in Human Resources Development (some call it People’s Excellence).

Globalization has lowered national boundaries, creating a knowledge-based economy

that spins and spans the world. Major economies are converging technologically and

economically, and are highly connected at present moment. The new global workplace

demands certain prerequisites such as higher order of thinking skills like abstraction system

thinking and experimental inquiry, problem-solving and team work. The needs are greater in

the new systems, which are participative ventures involving workers managed by so-called

fictional proprietors.

Men Counted

In simple terms, all the above requirements can be easily achieved by providing

improved quality of work life to the workers available on rolls. Workers are often referred to

as teams or groups in general parlance and whatever the do go to the credit of the teamwork.

The concept of teamwork has evolved from the organized toil that has its own social

dimensions. Good teams can hardly be imported from outside. They usually occur as an

indigenous incidence at the workplace and nurturing the same over time is the responsibility

of management. Here, it may also be discerned that the composition of available workers in

no more a local phenomenon as in the past. Mobility is caused by migration beyond culture

barriers and isolation, relocation and globalize deployment. This phenomenon has become

universal and is causing great changes in the work environment at factories as well as offices.

The new influx of skilled workers seeking greener pastures is even questioning the skills of

new employers and thereby restructuring the new environs on par with those of best in the

world, unwittingly though.

Money Matters

For good QWL, cash is not the only answer. Today, the workers are aware of the job

requirements of job as also the fact that the performance of the same is measured against the

basic goals and objectives of the organization and more importantly, wages are paid

according to the larger picture specific to the industry and the employer’s place in the same.

The increased share of workers in wages and benefits through legislation as well as

competitive interplay of superior managements in various fields of industry and business on

extensive levels has reshaped the worker’s idea of quality of work life. Moreover, other

things being equal, the employers are increasingly vying with their rivals in providing better

working conditions and emoluments. This may be owing to many reasons besides the

concern for the human angle of workers, like the employer’s tendency to climb on the

bandwagon, to reap to the desired dividends or to woo better talent into their fold as skill base

addition and other non-economic inputs like knowledge bases. Doubtlessly, the increased

tendency of recruiting knowledge bases is giving the modern managements payoffs in myriad

ways. Some of them are intended potentials for product innovations and cost cuttings.

Talking of product, it may appear far-fetched to some that product is being assessed in the

market for its quality and price by the environment created in the areas where workers and

customers are dealt and transact, like ambience in facilities / amenities as also the company’s

pay scales. This goes to prove that QWL of manufacturer / service provider is synonymous

with the quality of product.

Non economic – ‘Job Security’

The changing workforce consists of literate workers who expect more than just money

from their work life. Their idea of salvation lies in the respect they obtain in the work

environment, like how they are individually dealt and communicated with by other members

in the team as well as the employer, what kind of work he is entrusted with, etc. Some of

these non-economic aspect are: Self respect, satisfaction, recognition, merit compensation in

job allocation, incompatibility of work conditions affecting health, bullying by older peers

and boss, physical constraints like distance to work, lack of flexible working hours, work-life

imbalances, invasion of privacy in case of certain cultural groups and gender discrimination

and drug addiction. One or more of the problems like above can cast a ‘job-insecurity’

question, for no direct and visible fault of the employer. Yet, the employer has to identify the

source of workers problems and try to mitigate the conditions and take supportive steps in the

organization so that the workers will be easily retained and motivated and earn ROI. The loss

of man-hours to the national income due to the above factors is simply overwhelming.

Employer should instill in the worker the feeling of trust and confidence by creating

appropriate channels and systems to alleviate the above shortcomings so that the workers use

their best mental faculties on the achievement of goals and objectives of the employer.

To cite some examples, employers in certain software companies have provided

infrastructure to train the children of workers in vocational activities including computer

education, so that the workers need not engage their attention on this aspect. Employee care

initiatives taken by certain companies include creation of Hobby clubs, Fun and Leisure

Clubs for the physical and psychological well-being ness of workers and their families. After

all, the workers are inexorably linked to the welfare of their families, as it is their primary

concern.

Dual income workers, meaning both spouses working are the order of the day. The

work life balance differs in this category and greater understanding and flexibility are

required with respect to leave, compensation and working hours in the larger framework.

Teamwork

Teamwork is the new mantra of modern day people’s excellence strategy. Today’s

teams are self-propelled ones. The modern manager has to strive at the group coherence for

common cause of the project. The ideal team has wider discretion and sense of responsibility

than before as how best to go about with its business. Here, each member can find a new

sense of belonging to each other in the unit and concentrate on the group’s new responsibility

towards employer’s goals. This will boost the coziness and morale of members in the

positive environment created by each other’s trust. Positive energies, free of workplace

anxiety, will garner better working results. Involvement in teamwork deters deserters and

employer need not bother himself over the detention exercises and save money on motivation

and campaigns.

Boss Factor

Gone are the days when employers controlled workers by suppressing the initiative

and independence by berating their brilliance and skills, by designing and entrusting arduous

and monotonous jobs and offer mere sops in terms of wages and weekly off. Trust develops

when managers pay some attention to the welfare of the workers and treat them well by being

honest in their relations. The employer should keep in mind that every unpaid hour of

overtime the worker spends on work is an hour less spent with the family.

New performance appraisals are put into vogue to assess a worker’s contribution vis-

à-vis on employer’s objectives and to find out the training and updating needs and levels of

motivation and commitment. As observed in some advanced companies, the workers

themselves are drawing their benefits by filing appraisal forms and drawing simultaneously

the appropriate benefits by the click of the mouse directly from their drawing rooms, courtesy

e-HR systems. In addition, there are quite a number of channels for informal reviews.

Feedback on worker’s performance, if well interpreted and analyzed, could go a long way in

improving ethics at workplace.

Involvement and Communication

Multi skilling and exposing workers to different lines of activity in the unit indirectly

leads to the greater involvement and better job security of worker in the organization. The

employer too, can make use of the varied skills to any altered situations of restructuring and

other market adaptations. Thus, the monotony of work life can be alleviated. The employer,

armed with the depth of cross-trained human resources, need not go hunting for new talent

and thus save on the unspent pay packets, which can be spent usefully on the amenities for

workers. No doubt, rivals should be envying him for this edge.

The change should be apparent in mutual trust and confidence towards effective

understanding of the needs of worker and employer. The new knowledge-based workers are

mostly young in the fields of technology and management. They are more forthcoming in

trusting the boss and older peers. Now, all modern managements are cognizant of the innate

desire of workers to be accepted as part of the organization for identity and other social

reasons.

Effective dialogue is put into play between management and those who execute

through well-organized communication channels paving the way for improved co-operation

and participation on emotional level. The decision making level is nose diving to the floor

level manager, where the poor guy has to think of n number of quick decisions on behalf of

the organization. Unless the team is behind and involved with commitment, the manager

cannot implement the new tasks in production, distribution, people’s excellence, customer

relations, etc., thanks to the ‘e’ factor prefixed to the names of majority of departments.

Logically, harmony plays its part in cost efficiency. Successful managers are those who

listen to their workers.

Influences

Overwork is tolerated in emerging industries unlike government departments as part

of the game and work culture. This is so, what with the soaring competition among the

tightly contested players. The point is empowerment of workforce in the area of

involvement.

All said and one, the workers are considered as the invisible branch ambassadors and

internal customers in certain industries. It is evident that most of the managements are

increasingly realizing that quality alone stands to gain in the ultimate analysis. Restructuring

the industrial relations in work area is the key for improving the quality of product and the

price of the stock. Without creating supportive environment in restructured environment,

higher quality of work cannot be extracted. It is already high time the older theories of

industrial relations should be unlearnt.

OBJECTIVES OF

THE STUDY

OBJECTIVES OF THE STUDY

This study program has got the following objectives:

To know the facilities provided to the employees by HDFC Bank for maintaining

quality of work life

To study the statutory and non-statutory welfare practices adopted by organization.

COMPANY

PROFILE

COMPANY PROFILE

HDFC BANK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of

over 1421 branches spread over 350 cities across India. All branches are linked on an online

real-time basis. Customers in over 120 locations are also serviced through Telephone

Banking. The Bank's expansion plans take into account the need to have a presence in all

major industrial and commercial centres where its corporate customers are located as well as

the need to build a strong retail customer base for both deposits and loan products. Being a

clearing/settlement bank to various leading stock exchanges, the Bank has branches in the

centres where the NSE/BSE have a strong and active member base.

March 2009 March 2010 March 2011CITIES 327 343 350BRANCHES 1229 1380 1421ATM 2400 2672 2705

The Bank also has a network of about over 2705worked ATMs across these cities.

2Moreover, HDFC Bank's ATM network can be accessed by all domestic and

international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American

Express Credit/Charge cardholders.

TIMES BANK AMALGAMATION

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new

private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with

HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved

by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank

received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added

significant value to HDFC Bank in terms of increased branch network, expanded geographic

reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and

leverage alternative delivery channels.

MANAGEMENT

Mr. Jagdish kapoor tookover as the bank's Chairman in July 2001. Prior to this, Mr. Kapoor

was Deputy Governor of the Reserve Bank of India.

The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years,

and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.

The Bank's Board of Directors is composed of eminent individuals with a wealth of

experience in public policy, administration, industry and commercial banking. Senior

executives representing HDFC are also on the Board.

Senior banking professionals with substantial experience in India and abroad head various

businesses and functions and report to the Managing Director. Given the professional

expertise of the management team and the overall focus on recruiting and retaining the best

talent in the industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information technology

and communication systems. All the bank's branches have online connectivity, which enables

the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also

provided to retail customers through the branch network and Automated Teller Machines

(ATMs).

Centralized Processing Units Derived Economies of Scale

Electronic Straight Through Processing Reduced Transaction Cost

Data Warehousing , CRM Improve cost efficiency, Cross sell

Innovative Technology Application Provide new or superior products

The Bank has made substantial efforts and investments in acquiring the best technology

available internationally, to build the infrastructure for a world class bank. The Bank's

business is supported by scalable and robust systems which ensure that our clients always get

the finest services we offer.

The Bank has prioritized its engagement in technology and the internet as one of its key goals

and has already made significant progress in web-enabling its core businesses. In each of its

businesses, the Bank has succeeded in leveraging its market position, expertise and

technology to create a competitive advantage and build market share.

BUSINESS MIX

Retail Wholesale

HDFC Bank is a consistent player in the private sector bank and have a well balanced product and business mix in the Indian as well as overseas markets.

Customer segments (retail & wholesale) account for 84% of Net revenues ( FY 2008)

Higher retail revenues partly offset by higher operating and credit costs.

Equally well positioned to grow both segments.

SEGMENTS

HDFC Bank offers a wide range of commercial and transactional banking services and

treasury products to wholesale and retail customers. The bank has three key business

segments:

Wholesale Banking Services

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian

corporate to small & mid-sized corporate and agro-based businesses. For these customers, the

Bank provides a wide range of commercial and transactional banking services, including

working capital finance, trade services, transactional services, cash management, etc. The

bank is also a leading provider of structured solutions, which combine cash management

services with vendor and distributor finance for facilitating superior supply chain

management for its corporate customers. Based on its superior product delivery / service

levels and strong customer orientation, the Bank has made significant inroads into the

banking consortia of a number of leading Indian corporates including multinationals,

companies from the domestic business houses and prime public sector companies. It is

recognized as a leading provider of cash management and transactional banking solutions to

corporate customers, mutual funds, stock exchange members and banks.

Retail Banking Services

The objective of the Retail Bank is to provide its target market customers a full range of

financial products and banking services, giving the customer a one-stop window for all

his/her banking requirements. The products are backed by world-class service and delivered

to the customers through the growing branch network, as well as through alternative delivery

channels like ATMs, Phone Banking, Net Banking and Mobile Banking.

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and

the Investment Advisory Services programs have been designed keeping in mind needs of

customers who seek distinct financial solutions, information and advice on various

investment avenues. The Bank also has a wide array of retail loan products including Auto

Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It

is also a leading provider of Depository Participant (DP) services for retail customers,

providing customers the facility to hold their investments in electronic form.

HDFC Bank was the first bank in India to launch an International Debit Card in association

with VISA (VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank

launched its credit card business in late 2001. By September 30, 2005, the bank had a total

card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading

players in the "merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals

for debit / credit cards acceptance at merchant establishments.

Treasury

Within this business, the bank has three main product areas - Foreign Exchange and

Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the

liberalization of the financial markets in India, corporate need more sophisticated risk

management information, advice and product structures. These and fine pricing on various

treasury products are provided through the bank's Treasury team. To comply with statutory

reserve requirements, the bank is required to hold 25% of its deposits in government

securities. The Treasury business is responsible for managing the returns and market risk on

this investment portfolio

HDFC BANK PRODUCT AND CUSTOMER SEGMENT

PERSONAL BANKING

Loan Product Deposit Product Investment & Insurance

Auto Loan Loan Against

Security Loan Against

Property Personal loan Credit card 2-wheeler loan Commercial

vehicles finance Home loans Retail business

banking Tractor loan Working Capital

Finance Construction

Equipment Finance Health Care

Finance Education Loan Gold Loan

Saving a/c Current a/c Fixed deposit Demat a/c Safe Deposit

Lockers

Mutual Fund Bonds Knowledge Centre Insurance General and Health

Insurance Equity and Derivatives Mudra Gold Bar

Cards Payment Services Access To Bank

Credit Card Debit Card Prepaid Card

-------------------------------- Forex Services--------------------------------

Product & Services Trade Services Forex service

Branch Locater RBI Guidelines

NetSafe Merchant Prepaid Refill Billpay Visa Billpay InstaPay DirectPay VisaMoney

Transfer e–Monies

Electronic Funds Transfer

Online Payment of Direct Tax

NetBanking OneView InstaAlertMobileBanking ATM Phone Banking Email Statements Branch Network

WHOLESALE BANKING

Corporate Small and Medium Enterprises

Financial Institutions and Trusts

Funded Services Non Funded

Services Value Added

Services Internet Banking

Funded Services Non Funded Services Specialized Services Value added services Internet Banking

BANKS Clearing Sub-Membership RTGS – submembership Fund Transfer ATM Tie-ups Corporate Salary a/c Tax Collection

Financial InstitutionsMutual FundsStock Brokers

Insurance CompaniesCommodities Business

Trusts

NRI SERVICES

Accounts & Deposits Remittances

Rupee Saving a/c Rupee Current a/c Rupee Fixed Deposits Foreign Currency Deposits Accounts for Returning Indians

North America UK Europe South East Asia Middle East Africa Others

Quick remitIndiaLink

Cheque LockBoxTelegraphic/ Wire Transfer

Funds Transfer Cheques/DDs/TCs

Investment & Insurances Loans

Mutual Funds Insurance Private Banking Portfolio Investment Scheme

Home Loans Loans Against Securities Loans Against Deposits Gold Credit Card

Payment Services Access To Bank

NetSafe NetBanking

BillPay InstaPay DirectPay Visa Money Online Donation

OneView InstaAlert ATM PhoneBanking Email Statements Branch Network

BUSINESS STRATEGY

HDFC BANK mission is to be "a World Class Indian Bank", benchmarking themselves

against international standards and best practices in terms of product offerings,

technology, service levels, risk management and audit & compliance. The objective is to

build sound customer franchises across distinct businesses so as to be a preferred provider of

banking services for target retail and wholesale customer segments, and to achieve a healthy

growth in profitability, consistent with the Bank's risk appetite. Bank is committed to do

this while ensuring the highest levels of ethical standards, professional integrity, corporate

governance and regulatory compliance. Continue to develop new product and technology is

the main business strategy of the bank. Maintain good relation with the customers is the

main and prime objective of the bank.

HDFC BANK business strategy emphasizes the following :

Increase market share in India’s expanding banking and Financial services

industry by following a disciplined growth strategy focusing on quality and not on

quantity and delivering high quality customer service.

Leverage our technology platform and open scaleable systems to deliver more

products to more customers and to control operating costs.

Maintain current high standards for asset quality through disciplined credit risk

management.

Develop innovative products and services that attract the targeted customers

and address inefficiencies in the Indian financial sector.

Continue to develop products and services that reduce bank’s cost of funds.

Focus on high earnings growth with low volatility.

HUMAN RESOURCE

The Bank’s staffing needs continued to increase during the year particularly in the retail

banking businesses in line with the business growth. Total number of employees increased

from 14878 as of March31,2008to18760of March 31, 2009The Bank continues to focus

on 1ing its employees on a continuing basis, both on the job and through training programs

conducted by internal and external faculty. The Bank has consistently believed that broader

employee ownership of its shares has a positive impact on its performance and employee

motivation. The Bank’s employee stock option scheme so far covers around 9000 employees.

CREDIT RATING

The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research

Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit program

has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments

considered to be "of the best quality, carrying negligible investment risk". CARE has also

rated the bank's Certificate of Deposit (CD) program "PR 1+" which represents "superior

capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd.

(100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit

program, with the outlook on the rating as "stable". This rating indicates "highest credit

quality" where "protection factors are very high".

The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and

Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds

rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the

subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA

(ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA

[Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned

the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond

issue. In each of the cases referred to above, the ratings awarded were the highest assigned by

the rating agency for those instruments

CORPORATE GOVERNANCE RATING

The bank was one of the first four companies, which subjected itself to a Corporate

Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating

Information Services of India Limited (CRISIL). The rating provides an independent

assessment of an entity's current performance and an expectation on its "balanced value

creation and corporate governance practices" in future. The bank has been assigned a

'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth

creation for all its stakeholders while adopting sound corporate governance practices is the

highest.

RECENT DEVELOPMENT

The Reserve Bank of India has approved the scheme of amalgamation of Centurion

Bank of Punjab Ltd. with HDFC Bank Ltd. with effect from May 23, 2008.All the branches

of Centurion Bank of Punjab will function as branches of HDFC Bank with effect from

May 23, 2008. With RBI’s approval, all requisite statutory and regulatory approvals for

the merger have been obtained.

PROFILES OF DIRECTORS

Mr. Jagdish Kapoor

Mr. Aditya Puri

Mr. Keki M. Mistry

Mr. Vineet Jain

Mrs. Renu Karnad

Mr. Arvind Pande

Mr. Ashim Samanta

Mr. C M Vasudev

Mr. Gautam Divan

Dr. Pandit Palande

Mr. Paresh Sukthankar

Mr. Harish Engineer

LITERATURE REVIEW

LITERATURE REVIEW

Walton (1974) attributes the evolution of Quality of Work Life to various phases in history.

Legislations enacted in early twentieth century to protect employees from job-injury and to

eliminate hazardous working conditions, followed by the unionization movement in the

1930’s and 1940’s were the initial steps in this direction. Emphasis was given to job security,

due process at the work place and economic gains for the worker. The 1950’s and the 1960’s

saw the development of different theories by psychologists proposing a positive relationship

between morale and productivity that improved human relations. Attempts at reform to

acquire equal employment opportunity and job enrichment schemes also were introduced.

Finally in the 1970’s the idea of Quality of Work Life was conceived which according to

Walton, is broader than these earlier developments and is something that must include ‘the

values that were at the heart of these earlier reform movements and human needs and

aspirations’.

Sekharan (1985) observes that, historically the concept of Quality of Work Life had

originally included only the issues of wages, working hours, and working conditions.

However, the concept has now been expanded to include such factors as the extent of

workers’ involvement in the job, their levels of satisfaction with various aspects in the work

environment, their perceived job competence, accomplishment on the job etc.

According to Keith (1989), Quality of Work Life refers to “the favorableness or

unfavourableness of a job environment for people”. The basic purpose in this regard is to

develop jobs aiming at Human Resource Development as well as production enhancement.

Gani (1993) in his study stated that the core of the Quality of Work Life concept is the value

of treating the worker as a human being and emphasizing changes in the socio-technical

system of thorough improvement, in physical and psychological working environment,

design and redesign of work practices, hierarchical structure and the production process

brought with the active involvement of workers in decision making.

In the words of Kumar and Tripati (1993), Quality of Work Life is a philosophy of

management that believes co-operative relationship between employees and managers and

also believes that every employee has the ability and right to offer his intelligence and useful

inputs into decisions at various levels in the organisations. Quality of Work Life is a process

to involve employee at every level of the organisations in the decision about their work and

workplace. It refers to the intended outcomes of practicing above philosophy and process

with improvements in working condition, working environment, working climate or work

culture. The process brings ultimate benefit to individual employee as well as to the

organisations through individual development and increasing quality and productivity

respectively.

As explained by Kumar and Tripathy (1993), there are several approaches for achieving

Quality of Work Life in organisations, namely job design, workers’ participation, welfare and

quality circles. Quality Circles are one of the ways of involving employees at the bottom

level of the organization in decisions affecting work and work related problems. A Quality

Circle is essentially a small group of employees who meet voluntarily on regular basis to

identify, analyze and find solutions to quality problems and other issues in their work-

environment. The employee’s Ina Quality Circle can range from four to twelve. The Quality

Circles occupy a vital and far more specific role for aiming and achieving Quality of Work

Life of workers in organisations.

However, Singh (1983) states that, Quality of Work Life is not based on any theory. It is

concerned with overall climate of work place. Reduced supervision, increased self-regulation

and self-management are pillars of Quality of Work Life.

American Society of Training and Development (1979) presented Quality of Work Life as

a process of work organisations, which enables its members at all levels to participate

actively and efficiently in shaping the organisations environment, methods and outcomes. It

is a value based process, which is aimed towards meeting the twin goals of enhanced

effectiveness of organisations, and improved quality of life at work for employees.

Cohen and Rosenthal (1980) describes Quality of Work Life as an intentionally designed

effort to bring out increased labor management, and cooperation to jointly solve the problem

of improving organizational performance and employee satisfaction.

In the opinion of Jain (1991), Quality Of Work Life represents a blending of motivational

factors of work, socio-technical system etc. which are of very real concerns for human values

in today’s society with an awareness that all individuals devote the greater part of their

mature lives to the work, spending time, energy and physical and mental resources to this

endeavor. Moreover, it recognizes that, work is the chief determinant of an individual’s

freedom, growth and self respect as well as his or her standard of living. Quality of Work

Life denotes the experienced “goodness” of working in the organizational settings. One of the

principal problems with the term is that Quality of Work Life is not a single or a specific

notion. It consists of a whole parcel of terms and notions, all of which really belong under the

working life umbrella viz;

1)Industrial effectiveness

2) Human resource development

3) Organizational effectiveness

4) Work restructure

5) Job enrichment

6) Socio-technical systems

7) Working humanization

8) Group work concept

9) Labor management co-operation

10) Working together; worker’s involvement, worker’s participation

11) Co-operative work structure.

Each of these in varying degrees of inadequacies identifies a part of the large whole that

Quality of Work Life seeks to identify. Quality of Work Life is a common concern, not only

to improve life at work, but also life outside work. After all, the two cannot be linked.

In the views of Johnston (1993), Quality of Work Life is more than simply a concept, means

or an end. It embodies the following inter-related sets of ideas:

a) Ideas dealing with a body of knowledge, concepts, experiences related to the nature,

meaning, and structure of work;

b) Ideas dealing with the nature and process of introducing and managing organisation

change; and

c) Ideas dealing with outcomes of results of the change process. The concept of Quality of

Work Life views work as a process of interaction and joint problem solving by working

people-managers, supervisors, and workers.

According to Balu (2001), Quality of Work Life encompasses various aspects relating to

(1) Working Environment and

(2) Employee Motivation.

Employee Motivation consists of

(i) Proper Communication at Shop-level,

(ii) Employee Facilities,

(iii) Employee Performance Recognition,

(iv) Employee Participation with team spirit,

(v) Development and Job redesign and Job enrichment,

(vi) Dynamic HRD factors, and

(vii) Status of family.

HYPOTHESIS

ASSUMPTION

Employees are satisfied with the facilities and the working

environment of the HDFC Bank

RESEARCH

METHODOLOGY

RESEARCH METHODOLOGY

Introduction of the problem: To find out the quality of work life in HDFC Bank, so

that the importance of the procedure may be obtained and the knowledge, attitude and

opinion of the employees can also be examined.

Research design: Research design is simply the framework or plan for a study used

guide in collecting and analyzing data. For the study: for conducting that research I

selected the Descriptive research design.

Descriptive research design: Descriptive research is also called Statistical Research. The

main goal of this type of research is to describe the data and characteristics about what is

being studied. The idea behind this type of research is to study frequencies, averages, and

other statistical calculations. Although this research is highly accurate, it does not gather the

causes behind a situation. Descriptive research is mainly done when a researcher wants to

gain a better understanding of a topic. that is, analysis of the past as opposed to the future.

Descriptive research is the exploration of the existing certain phenomena. The details of the

facts wont be known. The existing phenomena’s facts are not known to the persons.

Sampling design:

I. Population:

Sampling unit: Department of Human Resource

Section: Employees

Extent: HDFC Bank

Time: 4 Weeks

II. Sampling unit:

The structure of Human resource of the company is classified into 3 parts viz.

Human Resource Leader, Assistant Manager, Executives.

So the sampling unit of the report are the employees of company.

III. Sample size:

The sample size of the report is 50 employees of Human Resource Dept. of

HDFC Bank.

IV. Sampling method:

There are two Method of sampling:

1. Probability sampling:

It is based on the concept of random selection of a controlled procedure that

assures that each population element is gives a non-zero chance of selection.

Probability sampling is of following types:

I) Simple Random II) Systematic III) Stratified

IV)Cluster V) Double

2. Non probability sampling:

Non probability sampling is non-random and subjective i.e. each member does

not have a known non zero chance of being included. Types of non probability sampling:

Convenience

Judgment

Quota

For the study: In this report non probability convenience sampling is used to conduct a

research.

Data collection method:

(I) Primary data:

The primary data are those which are collected afresh and for the first time,

and thus happened to be original in character. There are several methods of collecting

primary data particularly in surveys. Important ones are:

(i) observation method

(ii) interview method

(iii) through questionnaires

(iv) through schedules etc.

For the study: Schedule method is used for collecting the data while conducting the

research.

II. Secondary data:

The secondary data are those which have already been collected by someone and

which have already been passed through the statistical process. Secondary data may

either be published data or unpublished data. Usually published data are available in :

(i) various publications of central, state, are local government;

(ii) technical and trade journals;

(iii) books, magazines, and newspapers. The sources of unpublished are many;

they may be found in diaries, letters, private individuals and organizations.

For the study: Internet is used for collecting the data while conducting the

research.

Data sources- Primary, Secondary.

Data approaches- Questionnaire.

Sampling unit- HR Department.

Sample size- 50 only.

Sample procedure-Non Probability Convenience sampling.

Contact method- Direct.

DATA ANALYSIS

AND

INTERPRETATIONS

DATA ANALYSIS AND INTERPRETATIONS

1 Do you feel comfortable with working culture in your organization?

Yes 90% No 10%

Interpretation:

90% of employees are comfortable while 10% of employees are not comfortable with the

working culture in the organization.

2. Dose your company provide the health care facility?

a) yes : 68%

b) No : 32%

INTERPRETATIONS

Health care is one of the important factor lives. HDFC Bank provides Hospital for the

employees, with a good number of doctors for all diseases. The employees are satisfied for a

certain limit, they has a complain also and that is, the health care facility is only for small and

normal diseases, if there is a measure disease arise then there is no arrangements for that.

3. Are you feeling secure about your job?

a) Secured : 76%

b) Not Secured : 24%

INTERPRETATIONS

This is another factor of motivational theory. Feeling secure about the increases the morale of

the employee. HDFC Bank employees are feeling secure about their jobs. The officers of

HDFC Bank are experienced and permanent.

4. Does your company provide you the standard safety appliances?

a) Yes : 80%

b) No : 20%

INTERPRETATIONS

The first policy of HDFC Bank is safety, and we could see the hoardings of safety

principle every where at HDFC Bank. The company’s management focused its best in

providing the safety appliances to the employees. The employees of Moradabad, HDFC Bank

are very much satisfied with the safety appliances provided by the company.

5.Do you get recognition for your individual/group performance?

a) Yes : 70%

b) No : 30%

INTERPRETATIONS

Near about 70% HDFC Bank employees of the survey gets recognition for their

individual/group performance. The rest employees don’t get any recognition because they are

new. This is another motivational factor which motivates the employees to give their best

again and again towards the company.

.

6. Are you satisfied with your team members at your work place ?

a) Satisfied : 84%

b) Not Satisfied : 16%

INTERPRETATIONS

The team work exaggerates the morale of the employees and they put their best effort.

The employees of HDFC Bank, Moradabad are very much satisfied with there team members,

all the employees are co-operative with each other. All the employees at here shares there

information relating their work, divides there work properly. They give respect to each other

and they make fun with each other also. All the employees are very much co-operative with

the outside people also.

7. Are you satisfied with the welfare facilities which are provided to you at the

working area ? (eg. Canteen, AC’S ,Etc.)

a) Satisfied : 62%

b) Not Satisfied : 38%

INTERPRETATIONS

The employees of HDFC bank are satisfied with the welfare facilities which are

provided to them. Whole office are AC(air condition) fitted, well furnished with good

lighting facility. The Food Facility also provided by HDFC Bank for staff.

7. Are you satisfied with your salary package?

a) Satisfied : 78%

b) Not Satisfied : 22%

INTERPRETATIONS

This is the question on which no one will give true answer. Because every person

wants more and more money than he/she gets and that’s why everyone mustn't satisfied with

their salary packages. But when I asked the employees of HDFC Bank about their salary

package according to their performance, they are satisfied with the salary package. But there

are a few young employees are working there, who are not satisfied with the salary package

which they are getting.

8.Does the company co-operates and helps you at any emergency time ?

a) Yes : 76%

b) No : 24%

INTERPRETATIONS

HDFC Bank co-operates with their employees in an emergency time. All the

employees are very much satisfied with the emergency helping facility.

9.Are you associated with any social activity ?

a) Yes : 30%

b) No : 70%

INTERPRETATIONS

There are a less number of employees who are associated with any social activity, near

about 30% of employees are associated. Some are associated with temple committee, and

organizes festivals. Some are associated with the community centre and organizes occasional

festivals (new year parties), etc.

FINDINGS

FINDINGS

HDFC Bank do not provide accommodation facility to their employees. There

employees has problem for accommodation in HDFC Bank, Moradabad.

HDFC Bank employees are feeling secure about their jobs. The officers of HDFC

Bank are experienced and permanent.

HDFC Bank do not provides schooling facility for the children of the employees, but

so employees of HDFC Bank, Moradabad are not satisfied with the schooling facility

available at Moradabad.

The company’s management focused its best in providing the safety appliances to the

employees.

The Bank provides safety appliances as well as maintains the safety standards at the

work place for all employees.

The employees of HDFC Bank, Moradabad are very much satisfied with there team

members, all the employees are co-operative with each other.

The employees of HDFC bank are satisfied with the welfare facilities which are

provided to them. Whole office are AC(air condition) fitted, well furnished with good

lighting facility. The Food Facility also provided by HDFC Bank for staff.

HDFC Bank co-operates with their employees in an emergency time. All the

employees are very much satisfied with the emergency helping facility.

There are a less number of employees who are associated with any social activity.

SUGGESTIONS

&

RECOMMENDATIONS

SUGGESTIONS & RECOMMENDATIONS

HDFC Bank’s management fulfills the needs and wants of the employees, bank provides a

standard quality of life to all employees. But there are some places where the company

should have to make a few rectifications.

1. The training and development program is not good at Moradabad, the bank should

work more on that and should make it a continues process. Company should

provide higher studies facilities for interested employees.

2. HDFC Bank could provide better quality of life at Moradabad division.

3. HDFC Bank should provide city living life for employees of Moradabad, The

working environment is good, but it could be better by renovating the internal

infrastructure of the offices of Moradabad.

CONCLUSION

CONCLUSION

HDFC Bank is one of the best bank of India as well as of world. HDFC Bank knows

for its best TQM and HR policies in the world. The employees are very much satisfied, who

are working for HDFC Bank. All the employees are motivated and work together to achieve

bank’s goal. Because of high motivated employees HDFC Bank, Moradabad division

increases business this year .The employees are very lucky, who are working and who will

work for HDFC Bank. The company should provide all those facilities, which it provides at

other offices in India excluding Moradabad division. Earning of more and more money is not

enough for live the life, if an employee wouldn’t able to give time to his/her family, then

he/she must be disturbed at the working duration. If the employee gives his/her best effort to

the bank, then the next responsibility is of the bank to provide a better quality of work life in

return.

LIMITATIONS

LIMITATIONS

Following are the limitations of the study that I came across:

1. The survey was restricted to only Moradabad only.

2. The period for the research was not enough to conduct the study in depth.

3. The sample size was limited to only 100 employees.

4. Because of the busy schedule respondents may not have answered properly which may not

hold true in such cases they should have got lot of time to answer.

BIBLIOGRAPHY

BIBLIOGRAPHYBOOKS:

Fordham, M. L.  (2003).  Putting first things first:  The quality learning organization. 

SSM, 9(3), 19-21.

Frost, P. (2003, February 5). Environmental issues that affect workplace.

globeandmail.com. Available: http://globeandmail.com.

Ingersoll, G. L., Olsan, T., Drew-Cates, J., DeVinney, B. C., & Davies, J. (2002). Job

Satisfaction, Organizational Commitment and Career Intent. JONA, 32(5), 250-261.

Restructuring : Inovative HR practices, Personal Today pp. 10-11

Innovative HR practices, personal today, pp. 40-43

Human resource Management: Best Pracies, case folio pp 39-58

WEBLIOGRAPHY

http://en.wikipedia.org/wiki/Quality_of_working_life

http://blog.timesjobs.com/2009/04/how-does-the-%E2%80%9Cquality-of-work-life

%E2%80%9D-affect-the-working-climate-of-an-organization/

http://www.123eng.com/forum/f12/quality-work-life-103780/

http://www.hdfcbank.com/personal/default.htm

ANNEXURE

QUESTIONNAIRE

1.Do you feel comfortable with working culture of your organisation ?a) Yes

b) No

2. Does your company provide the health care facility?

a) yes

b) No

3. Are you feeling secure about your job?

a) Secured

b) Not Secured

4. Does the company provide you the standard safety measures?

a) Yes

b) No

5.Do you get recognition for your individual/group performance?

a)Yes

b)No

6. Are you satisfied with your team members at your work place ?

a) Satisfied

b) Not Satisfied

7. Are you satisfied with the welfare facilities which are provided to you at the

working area ? (eg. Canteen, AC’S ,Etc.)

a) Satisfied

b) Not Satisfied

8. Are you satisfied with your salary package?

a) Satisfied

b) Not Satisfied

9.Does the company co-operates and helps you at any emergency time ?

a) Yes

b) No

10.Are you associated with any social activity ?If yes then, what is that ?

a) Yes

b) No

RESPONDENT PROFILE

Name……………………………………………………………………………….

Age ………………………………………………………………………………...

Address……………………………………………………………………………..

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