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Chapter VI
Summary, Conclusions and Suggestions
This chapter aims to summarize the objectives of the study, the sample, dimensions analysed,
data analysis and hypotheses testing. The major findings of the study, conclusions and
suggestions are also presented. Finally, the limitations of the study are mentioned.
6.1. Objectives of the Study
Today's work environment is undergoing a major shift; factors such as globalization, growing
economies, and improved technology are constantly presenting new challenges and creating new
opportunities for employees. With these changes, employee’s perceptions regarding their jobs
are also changing. In this grow-or-die marketplace, the success of any organization relies on its
workforce. Satisfied and committed employees are the most significant assets of any
organization, including banks. As banking institutions are the backbone of a nation's economy,
the efficient management of human resources and the maintenance of higher job satisfaction
levels affect the growth and performance of an entire economy. The main purpose of this study is
to examine the employee motivation and job satisfaction levels in SBI and ICICI Banks.
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 perceived motivation and employees’ perceived
satisfaction in SBI and ICICI Banks.
6.2 Sample for the Study
The questionnaire was specifically designed to accomplish the objectives of the study. The data
was 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
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ICICI in twin cities of Hyderabad and Secunderabad have been considered to make a
comparative study. They are as follows:
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
6.3 Collection of Data and Dimensions Analyzed in the Study
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. Part1 measures work motivation.
Motivational orientation was quantified with the help of its nine factors viz. Work content,
payment, promotion, recognition, working conditions, benefits, personal, supervisor and general.
The modification yielded an r = 0.74 Cronbach Alpha. Part 2 measures job satisfaction, the
overall reliability co-efficient of the instrument yielded an r = 0.73 Cronbach’s alpha.
6.4 Data Analysis
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. Analysis was carried out through the
Statistical Package for the Social Sciences (SPSS). 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.
The descriptive statistics is used to determine the scores on different variables that are related to
each other. In this study descriptive statistics included are means, frequencies, percentages and
standard deviations. One-way anova was conducted to determine the variance between group
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means of the indices based on the demographic variables. Factor Analysis is employed to study
the job satisfaction based on demographic variables. Independent samples t test is used for
analysis as it compares the means between two unrelated groups on the same continuum. The
respondents' profile of both SBI and ICICI are compared with the application of t test. To study
the relationship between motivation and job satisfaction correlation and regression analysis is
performed.
6.5. Testing Hypotheses
Hypothesis 1- There is no significant difference between employees’ perceived work motivation
and respondents' profile in SBI and ICICI Banks.
Hypothesis 2- There is no significant difference between employees’ perceived job satisfaction
and respondents' profile in SBI and ICICI Banks.
Hypothesis 3- There is no relationship between employees’ perceived motivation and perceived
job satisfaction.
6.6. Summary of Findings
6.6.1 Motivational Practices at Banks: The findings of the study show that SBI and ICICI
banks follow a performance linked incentive schemes as motivators. The basic purpose of this
type of system is to motivate the employees to work more effectively and efficiently in order to
attain the organizational goals. As it is known that success of any bank depends upon how strong
it is in managing its employees and retaining them over the period of time to have
much better customer and employee relationship. The study finds that SBI follows motivational
practices such as training programs, incentives based on targets and branch turnovers. Employee
recognition programs and employee involvement in decision making process are continuously
implemented to sustain the interests of employees. This indeed enhances the employee job
satisfaction levels which makes them better performers. ICICI bank employee compensation is
clearly tied to performance and it encourages involvement of all employees in overall
performance and profitability through profit sharing incentive schemes based on the financial
results. A revision in performance appraisal system is regularly implemented to assist
management in career development and succession planning of employees. Employee’s stock
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option scheme is one of the practices which are followed to encourage and retain high
performing employees in the organization for a longer period.
Based on previous research it is found that employees employed in the public sector will
prioritize work motivation in different ways than their counterparts employed in private sector. It
is also observed that public sector and private sector employment differ at a number of levels.
With respect to the dimensions of work motivation assessed by the Work Satisfaction and
Motivation Questionnaire, the analysis finds that the respondents in the sample are most likely
to be motivated due to their work content, working conditions, promotion, recognition and leader
supervision. They are least motivated by the remuneration they receive, general, personal and
benefits.
6.6.2. Motivation and Work Content: Since motivation influences productivity, organizations
need to understand what motivates employees to reach peak performance. It is not an easy task to
increase employee motivation because employees respond in different ways to their jobs and
their organization's practices. As per the findings almost all the sample respondents of SBI and
all the sample respondents of ICICI have high work content. It is interesting to note that almost
all the sample respondents view the work to be interesting, creative and challenging.
6.6.3. Motivation and Payment: It is found that pay or pay related benefits are not highly
motivating employees. Though both SBI and ICICI banks have shown a high level of motivation
comparatively ICICI bank employees are more motivated. This trend can be due to ICICI banks
salaries and incentives are based on performance.
6.6.4. Motivation and Promotion: The study finds that the employees of both SBI and ICICI
are highly satisfied and motivated with promotional opportunities provided at banks. Career
advancement and hierarchical changes influence employee to perform well as responsibility and
power motivates every employee.
6.6.5. Motivation and Recognition: Recognition is one of the influencing factors which
motivate employees. It stems from recognition, increased responsibility, more challenging work
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and a personal sense of accomplishment, all of which are motivating factors. The study finds that
the employees are satisfied with recognition they receive from organization, clients, and
colleagues.
6.6.6. Motivation and Working Conditions: It is found that most of the employees are satisfied
with the working conditions provided at the banks. Compared to ICICI, SBI employees are
highly satisfied and motivated with the working environment and conditions. This situation
might be due to private bank are more rigid in maintaining rules and regulations. More over the
quantity of work as well as physical work environment is different from that of Public sector
banks.
6.6.7. Motivation and Benefits: The study finds that the sample employees from SBI bank have
shown high motivational levels than employees from ICICI bank. This situation might be due to
SBI banks pension schemes, medical benefits and leave facilities are different from that of an
ICICI bank. Most of the private banks do not have retirement benefits and the leave rules are also
very rigid. The situation of low motivation in ICICI bank reflects this.
6.6.8. Motivation and Personal: The extent to which employee’s creativity, skills and
knowledge are utilized, encouraged and appreciated in the workplace plays a major role in
employee motivation. In a work environment where creativity is valued, and the choice of work
is based on qualifications and skills, it enhances the employee motivation and satisfaction
towards the job. The study finds that the employees are motivated and satisfied with choice of
work preference and the departments they are working.
6.6.9. Motivation and Leader Supervision: Leadership is the process of guiding and
influencing subordinates for the accomplishment of desired goals. Supervision implies expert
overseeing of subordinates at work in order to guide and regulate their efforts. The study finds a
high a level of motivation of employees in both the banks which shows that they have a very
good relationship with the manager and leader supervision at both the banks is encouraging and
motivating.
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6.6.10. Motivation and Security (General): An interesting finding of the study is that compared
to SBI, ICICI bank employee’s motivational levels are high even though there is no job security.
Contrarily SBI sample showed low motivational levels in spite of high job security. This trend
shows that job security is one of the motivational factor and not the only motivational factor
which satisfies employees. Challenging jobs, skill variety jobs keep the employees motivated and
stay in the banks for a longer tenure.
6.6.11. Demographic profile and motivational dimensions
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 better their performance. The root of
motivation to achieve the desired goal can vary from individual to individual. There are
statistically significant differences in motivational levels based on demographic profile such as
gender, age, educational level, job experience, annual salary, designation, job security working in
shifts, working days and working hours.
6.6.11.1. Banks and Motivation Dimensions: The study finds from the t test results that there is
statistically significant difference between employee work motivation dimensions such as work
content, promotion, benefits, recognition, working conditions and leader supervision, personal
and security with respect to SBI and ICICI banks. There is no statistically significant difference
between payment and motivational dimensions and banks.
6.6.11.2. Gender and Motivation Dimensions: The study finds that there is significant
difference between gender and motivational dimensions such as work content, promotion,
benefits and security. Alternatively there is no significant difference between gender and
payment, recognition, working conditions, leader supervision and personal.
6.6.11.3. Age and Motivation Dimensions: The study finds from one way anova results that
there is statistically significant difference between employee work motivation and age with
factors payment, promotion and benefits in banks. Alternatively there is no significant difference
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between age and motivational dimensions such as work content, recognition, working conditions,
personal, leader supervision and general. This indicates that the groups have unequal variances.
6.6.11.4. Educational background and Motivation Dimensions: The study finds that there is
statistically significant difference between employee work motivation and educational
background such as payment, promotion, working conditions, personal, and leader supervision.
The anova results show that there is no significant difference between educational levels of
respondents in the banks and work content, recognition, benefit and general.
6.6.11.5. Job Experience and Motivation Dimensions: Similarly job experience and
motivational dimensions such as work content, payment, promotion, working conditions,
benefits, personal, leader supervision and security are significant; they affect the motivation of
employees. Whereas employee recognition and job experience are not significant.
6.6.11.6. Income levels and Motivation Dimensions: The study finds that there is statistically
significant difference between income and motivational dimensions such as work content,
promotion, recognition, working conditions, benefits, personal, leader supervision and security.
Income levels of employees and payment are not significant.
6.6.11.7. Designation and Motivation Dimensions: Designation and motivation dimensions
such as work content, payment, recognition, working conditions, benefits, personal, leader
supervision and security are statistically significant. Promotion and designation are not
significant statistically.
6.6.11.8. Job Security and Motivation Dimensions: There is significant difference between job
security and work content, promotion, recognition, working conditions, benefits, personal, leader
supervision and security. The study finds that there is no significant difference between payment
and job security.
6.6.11.9. Working in Shifts and Motivation Dimensions: The study finds that there is
statistically significant difference between working in shifts and work content, promotion,
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recognition, working conditions, personal and security. Alternatively it is found that there is no
significant difference between shifts and payment, benefits and leader supervision.
6.6.11.10. Working Days and Motivation Dimensions: Working days does not have significant
difference with work content, payment, promotion, recognition, working conditions, personal
and leader supervision. There is significant difference between benefits, security and working
days.
6.6.11.11. Working Hours in a day and Motivation Dimensions: Significant difference exists
between working hours and work content, payment, promotion, working conditions, benefits and
personal. Whereas there is no significant difference between recognition, leader supervision and
security.
6.6.12. Job Satisfaction: Job Satisfaction is the buzz word in today’s corporate era. Since the
transformation of personnel into HR, and its inception in the industry, new concepts related to
human capital has been emerging day by day. The concept of job satisfaction has emerged and
now there are several factors contributing to it which are monetary and non-monetary. Job
satisfaction is the favorableness or un-favorableness with which employees view their work and
it is affected by both the internal and external environment of the organization. Job design affect
the job satisfaction, as jobs that are rich in behavioral elements such as variety autonomy, task
unimportance and feedback contribute to employee’s satisfaction.
Job satisfaction links closely to work motivation. It may be viewed, at one level, as an outcome
of being able to succeed in acting in accordance with one’s motivation. In this sense, satisfaction
arises not from performance of the job per se, but from the ability to have a need or motive
satisfied. It is assumed that high levels of motivation will have both psychological and
behavioral consequences: the psychological consequences include job satisfaction and
organizational commitment; whereas the behavioral effects include higher output, lower
absenteeism and lower likelihood of leaving the job. The paradigm of the banking sector
changed with the emergence of plastic money and online transfers etc. Thus the technological
pay and breakthroughs affected the banking sector and numerous career opportunities were
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created in this sector in all disciplines. The paradigm shifted from a financial sector to a services
sector where providing quality service to the customer became the ultimate goal of the bank. Due
to heavy inflow of multinational banks, a new culture in the banking sector is emerged which is
based on performance, rewards and compensations. This has brought higher employment
opportunities, increases in income level, and changes in consumption pattern and consequently
there emerges a competitive environment in the industry.
6.6.13. Demographic variables and Job Satisfaction dimensions: Job satisfaction of the
respondent’s was studied by adopting factor analysis. The job satisfaction as per factor analysis
comprised of four factors. Factor 1 comprises of four, salary satisfaction, fringe benefits, working
climate and satisfied with current job which is labeled as satisfaction from pay and benefits.
Factor 2 comprises of four namely, job content, social status, help customers, and satisfy
customer needs which is labeled as satisfaction from the job itself. Factor 3 comprises of five, self
actualized, job security, dignity and respect, satisfied with colleagues and sense of achievement
which is as satisfaction and pride. Factor 4 comprises of five, promotion opportunities, career
development, recognition by boss, satisfied with the boss and choice to leave. The factor choice to
leave is reverse scored due to its polarity. Accordingly it is labeled as satisfaction from career.
The following table presents the summarized table of variable factors
Factors Grouping
Factor Label/
Name
1 Satisfaction
from Pay
and Benefits
Salary
Satisfaction
Fringe
Benefits
Working
Climate
Satisfied with
Current Job
2 Satisfaction
from Job
Itself Job Content Social Status
Help
Customers
Satisfy
Customer
needs
3 Satisfaction
and Pride
Self
Actualized Job Security
Dignity and
Respect
Satisfied with
Colleagues
Sense of
Achievement
4 Satisfaction
from Career
Promotion
Opportunities
Career
Development
Recognition
by Boss
Satisfied with
the Boss
Choice to
leave
Source: Interpreted based on emerged factor structure
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6.6.13.1. Banks and Job Satisfaction: The study finds from the t test results that, there is
significant difference between banks and job satisfaction factors such as pay and benefits, pride
and career; whereas there is no significant difference between job itself and satisfaction in SBI
and ICICI banks.
6.6.13.2. Gender and Job Satisfaction: The study finds that there is significant difference
between gender and pride and career. The difference is not significant between gender and pay
and benefits and job itself.
6.6.13.3. Age and Job Satisfaction: anova results indicate that age and pay and benefits and
career are having significant differences statistically. There is no significant difference in mean
values between age and job itself and pride.
6.6.13.4. Educational Background and Job Satisfaction: The study observes that there is
significant difference between education and pay and benefits and job itself. Alternatively there
is no significant difference between pride and career and educational background of respondents.
6.6.13.5. Job Experience and Job Satisfaction: The findings of the study depict that the
difference is significant between job experience and pay and benefits, pride and career.
Alternatively there is no significant difference between job experience and job itself.
6.6.13.6. Income levels and Job Satisfaction: As per the anova results the study finds that there
is no significant difference between income and career and pride. The study observes that the
difference is significant between income and pay and benefits and job itself.
6.6.13.7. Designation and Job Satisfaction: The study finds that there is significant difference
between designation and career, job itself and pride. The difference is not significant for pay and
benefits and designation.
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6.6.13.8. Job Security and Job Satisfaction: The study finds that the difference is significant
between security and pay and benefits. Whereas the difference is insignificant between security
pride and career and job itself.
6.6.13.9. Working in shifts and Job Satisfaction: It is observed from the t test values that there
is significant between shift working and career. Whereas the difference is insignificant between
working in shifts and job itself, pay and benefits and pride.
6.6.13.10. Working Days and Job Satisfaction: The study observes that there is significant
difference between working days and pay and benefits. Whereas there is no significant difference
between working days and job itself, pride and career.
6.6.13.11. Working Hours and Job Satisfaction: As per the anova results the null hypothesis is
rejected with respect to pay and benefits and job itself, which shows that the difference is
significant. The difference is insignificant between pride and career and working hours.
6.6.14. Relationship between Motivation and Job Satisfaction
Employee motivation is an innate force shaped and maintained by a set of highly individualistic
factors that 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. The study finds a positive but weak
relationship between employee motivation and job satisfaction.
6.7. Conclusions
6.7.1. Motivational Practices at Banks: SBI and ICICI banks both follow a performance linked
incentive schemes to motivate and satisfy the employees. The basic purpose of this type of
system is to motivate the employees to work more effectively and efficiently in order to
attain the organizational goals. To attain high profitability, the banks try to satisfy customers
which can only be attained if the employees are satisfied and they work wholly and solely for the
banks. The scheme aims at rewarding the performers. Based on the data collected the study
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concludes that the practices followed by the banks are satisfactory as majority of the sample have
job experience above 5 years.
6.7.2. Employee Motivation: With respect to the dimensions of work motivation assessed by the
Work Satisfaction and Motivation Questionnaire, the study finds that the means for the work
content, payment, promotion, recognition, working conditions, benefits, personal,
leader/supervisor and general ranged from a high of 1.99 to a low of 1.52. It therefore appears
that staff in the sample is relatively motivated; however, the mean values for payment, benefits,
personal and general were the lowest. These mean values indicate the areas that employees were
most likely to be de motivated and dissatisfied. The findings draw the conclusion that the
sample are most likely to be motivated due to their work content, working conditions, promotion,
recognition and leader supervision. They are least motivated by the remuneration they receive,
general, personal and benefits.
6.7.3. Motivation and Work Content: Satisfaction comes from motivators that are intrinsic or
job content, such as achievement, recognition, advancement, responsibility, the work itself, and
growth possibilities. Dissatisfaction occurs when the following hygiene factors, extrinsic or job
context, are not present on the job: pay, status, job security, working conditions, company policy,
peer relations, and supervision. As per the findings almost all the sample respondents of SBI and
all the sample respondents of ICICI have high work content. It is interesting to note that almost
all the sample respondents view the work to be interesting, creative and challenging.
The results of the analysis show that there is statistically no difference between motivation and
work content with respect to banks. There is significant difference between motivation based on
gender, job experience, income, designation, job security, working in shifts and number of
working days in a week. The study concludes that there is no difference statistically between age,
and working hours. Motivation levels of employees do not vary due to these variables.
Interestingly motivation levels of respondents of ICICI bank are higher than respondents of SBI.
6.7.4. Motivation and Payment: Psychologists and analysts indicate that pay may have varying
levels of motivational influence on employees. The biggest problem with a straight-pay structure
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is that employees quickly become used to earning a certain level of income regardless of the
results they produce. This prompts them to seek or need alternative types of motivation to push
beyond meeting basic expectations and to pursue higher standards of excellence. An interesting
finding of the study is there is no significant difference between payment and the banks, gender,
job security, shift working and days of working. This can be due to ICICI banks salaries and
incentives are linked to performance, higher the performance higher the payment thus leading to
higher motivation. Motivation and age of the respondents, job experience, designation, education
levels and working hours in a day have differences which are significant. The study concludes
that they affect motivation of employees.
6.7.5. Motivation and Promotion: Promotion ladders or career developments are the
motivators. That commits employees to higher levels of efforts and employers to reward this
with pay rises and periodic promotions later in careers. Career advancement and hierarchical
changes influence employee to perform well as responsibility and power motivates every
employee. The study identifies that age, education, job experience, income levels, security,
working in shifts and working hours have affect on motivation. The study concludes that gender,
designation and the number of working days employees are working have no significant affect
on motivation.
6.7.6. Motivation and Recognition: Employees want to be recognized for the work they do.
Especially when working in a pair or committee, they want to be recognized for their
contributions. There are many effective and creative ways to motivate employees and recognize
their accomplishments. Inference can be drawn from the study that gender, age, education, job
experience, working days and working hours have no significant difference and they do not
affect motivational levels of employees. Motivation differs significantly based on income levels,
designation, working in shift and security.
6.7.7. Motivation and Working Conditions: Work environment is a major factor in motivating
employees. Social relationships, creative freedom, working hours, general work rules and
quantity of work all play a role in the workplace motivation. It is found that most of the
employees are satisfied with the working conditions provided at the banks. The study observes
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that working conditions has no affect on motivation based on gender, age and working days.
Alternatively education, income levels, designation, job experience, security, shift working and
working hours affect motivation.
6.7.8. Motivation and Benefits: Benefits are an indirect form of compensation that is mainly
intended to improve the quality of work life for an employee. The study looked at whether the
benefits such as pension, medical schemes and leave facilities provided at banks were
satisfactory and motivating. Based on analysis the study finds that education and working in
shifts have no significant affect on motivation. Higher educational qualification, tenure of work,
the position one occupies in the organization, the shifts in which he/she works provide additional
benefits, allowances or compensation are motivating factors. The study concludes that gender,
age, job experience, income levels, designation, security, working days and working hours have
significant difference.
6.7.9. Motivation and Personal: In a work environment where creativity is valued, and the
choice of work is based on qualifications and skills it enhances the employee motivation and
satisfaction towards the job. The study finds that age, designation and working days have no
significant affect on employee motivation. It can be concluded that better ideas and involvement
of employees in administration motivates employee to perform better hence the difference is
significant between motivation and gender, education, job experience, income levels, job
security, working in shifts and working hours.
6.7.10. Motivation and Leader Supervision: A leader provides the encouragement, guidance,
support, and resources to help employees succeed. He fosters teamwork, participation,
collaboration, and the sharing of information. Research results show that respondents perceive
supervisor support to be considerably good. The respondents have acknowledged that their
supervisors provide education and assignments which improve the employees’ skills. Results of
the analysis indicate that the difference is significant between supervisor support and education,
job experience, income levels, designation and job security. However, the difference is not
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significant with gender, age, working in shifts, working days and hours of work. It can be
concluded that these factors do not influence motivation of employees.
6.7.11. Motivation and Security (General): General refers to the overall satisfaction of
employees and job security. It also views whether the employee has considered resigning or
changing jobs. The study finds that age, education and hours of work do not have significant
affect on employee motivation. Genders, job experience, income level, designation, job security,
working in shifts and working days in a week have significant affect on motivation.
6.7.12. Job Satisfaction
Job satisfaction links closely to work motivation. It may be viewed, at one level, as an outcome
of being able to succeed in acting in accordance with one’s motivation. In this sense, satisfaction
arises not from performance of the job per se, but from the ability to have a need or motive
satisfied. It is assumed that high levels of motivation will have both psychological and
behavioral consequences: the psychological consequences include job satisfaction and
organizational commitment; whereas the behavioral effects include higher output, lower
absenteeism and lower likelihood of leaving the job. Job satisfaction is the favorableness or un-
favorableness with which employees view their work and it is affected by both the internal and
external environment of the organization.
6.7.12.1. Banks and Job Satisfaction:The results of the analysis indicate that employees of SBI
are more satisfied with job content, status, dignity and respect they receive, job security,
promotion and career opportunities and recognition they get from the boss. ICICI employees are
more satisfied with payments, benefits and working climate. The study draws conclusion that
based on the nature and type of the banks the satisfaction of the employees differ.
6.7.12.2. Gender and Job Satisfaction: Most investigations on the subject have found that
women are more satisfied with their jobs than men are. This is so despite the fact that women are
generally discriminated against in job competition and pay, quite possibly the reason is that
women's ambitions and financial needs are less. The study draws conclusion that male
respondents are more satisfied with the job itself, pride which includes security, dignity and
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respect and career opportunities than female respondents in the both the banks as the mean
values are higher. Female respondents are more satisfied with the pay and benefits.
6.7.12.3. Age and Job Satisfaction: Many studies have found different results in different
groups on the relationship of age to job satisfaction. There was higher intrinsic job satisfaction
among older employees, but lower financial and job status satisfaction among this group.
However, different studies reveal different impact of age related with job satisfaction. Few
indicated that there is increase in the level of satisfaction with age. The study finds that
satisfaction and age to be significant in relation to pay benefits and career. However satisfaction
is not significant with job itself and pride. The study draws conclusion that age influences
satisfaction of employees.
6.7.12.4. Educational Background and Job Satisfaction: During the literature review various
models have been followed by different researchers which included various theories. Frederick
Hertzberg’s motivation-hygiene theory proposes that intrinsic factors are related to job
satisfaction and motivation, whereas extrinsic factors are associated with job dissatisfaction. Few
researchers have concluded that the higher the education level the lower is the job satisfaction.
The results of the study indicate that education and pride and career have no significant
difference between them. Job satisfaction is significant based on pay and benefits and job itself.
It can be concluded that education influences satisfaction based on payment and job itself.
6.7.12.5. Job Experience and Job Satisfaction: Research studies indicate that there can be
satisfaction with the specific activities of the job; with the place and working conditions under
which the job is performed; or with specific factors such as economic rewards, security, or social
prestige etc. Satisfied employees have long tenure in the organizations. The results of the study
indicate that there is no significant difference between job content and satisfaction. Alternatively
there is significant difference between satisfaction and job experience with respect to pay and
benefits, pride and career.
6.7.12.6. Income levels and Job Satisfaction: Studies have tested the hypothesis that income is
an important determinant of job satisfaction Factors such as pay, the work itself, supervision,
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relationships with co-workers and opportunities for promotions have been found to contribute to
job satisfaction. Research indicates there is a significant difference in the job satisfaction levels
of employees based on their income. Employees earning the lowest income report significantly
lower levels of job satisfaction relative to the other income groups. Highly paid employees may
still be dissatisfied if they do not like the nature of their job and feel they cannot enter a more
satisfying job. The study draws conclusion that pay and benefits, job itself have significant
difference with income levels of employees and their satisfaction levels.
6.7.12.7. Designation and Job Satisfaction: Review of literature indicates that designation or
work position in the organizations have significant affect on satisfaction. The results from the
study show that the differences are insignificant between designation and pay benefits. The
differences between career, job itself and pride are significant; they influence the satisfaction
levels of employees with designation.
6.7.12.8. Job Security and Job Satisfaction: Most studies have found that job security ranks
above pay, type of work etc. An average employee will think of job security first rather than
other factors to get settle in life. It has been seen that employees secured in job are more satisfied
in their job. The study proves that SBI employees are more satisfied with the job itself, pride and
career and this might be due to the security of their job. The study finds that the difference is
significant between security and pay and benefits. Whereas the relationship is insignificant
between security and pride, career and job itself.
6.7.12.9. Working in shifts and Job Satisfaction: The study finds from the mean statistics
values that the satisfaction is high for sample employee’s who are working in shifts for variables
pay and benefits as well a career. This situation might be due to shift hours give a wide scope of
choice to employees with regard to pay and career options. The results draw the conclusion that
the differences are significant between shift working and career whereas the differences between
pay and benefits, job itself, and pride are insignificant and it does not affect job satisfaction of
the employees.
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6.7.12.10. Working Days and Job Satisfaction: The study draws the conclusion that there is
significant difference between working days and pay and benefits. Whereas the difference
between job itself, pride and career are insignificant and it does not affect the satisfaction.
6.7.12.11. Working Hours and Job Satisfaction: A review of the literature in the context of
satisfaction reveals that a number of researchers have emphasized the importance of factors
affecting job satisfaction. Job satisfaction involves several different spheres such as satisfaction
with pay, promotion opportunities, fringe benefits, job security, shifts, and hours of work and the
importance/challenge of the job. The duration of work is also one of the factor which affects
satisfaction of employees. The study finds that satisfaction is significant based on pay and
benefits and job itself.
6.7.13. Relationship between Motivation and Job Satisfaction
Employee motivation is an innate force shaped and maintained by a set of highly individualistic
factors that 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 and subsequently conclude that motivated
employees are generally also satisfied with their work. Though there is a low positive
relationship between motivation and job satisfaction, the relationship varies significantly
depending upon number of factors which influence employee’s behavior at work.
6.8. Suggestions
The study brings forth the fact that the sectoral differences in terms of compensation, growth
opportunities, working conditions, personal factors, social environment, benefits and job security
play a significant role in influencing employees' perceptions of work motivation and job
satisfaction. By leveraging this fact, jobs can be enriched and can be made highly motivating and
satisfying for the employees.
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1) To encourage competitive culture in public sector banks, seniority based promotion
policies should be revised.
2) The public sector bank needs to increase employees' pay satisfaction by introducing a
differential pay system based on one's merit and effort. To maintain satisfied and
dedicated work force, performance based compensation package should be introduced in
SBI banks.
3) Money alone is not enough to motivate employees in today’s workforce. Besides
financial motivations, other ways are to be adopted to motivate employees such as
involving them in decision making – process, autonomy in work which ensures a healthy
environment. Employees should be encouraged to commit themselves to create a
dedicated workforce for banking institution.
4) Job security has long been one of the most positive aspects of public sector banks; hence
ICICI bank needs to introduce special schemes related to pension, gratuity, retirement,
and other related benefits to enhance the employee's sense of security as well as
satisfaction.
6.9. Scope for future research
1) One of the limitations of the present study is that the data collection was restricted to only
two banks. It is suggested that in order to generalise the findings to the banking industry
in India, the study should be expanded to include other private and public sector banks
along with foreign and co-operative banks.
2) Future studies could further test the possible inclusion of additional factors that affect
employee motivation and satisfaction..
3) Future studies may try to access a single bank to deeply examine related research topics.
4) Additional research should be carried out to gain a continuous view, insight and
knowledge of what motivates employees to perform best on their job.
5) Future studies could compare job satisfaction levels across different ages and tenures in
public and private sector banks.
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6.10. 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.
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