A PROJECT REPORT ON JOB SATISFACTION AMONG

EMPLOYEES: A STUDY OF ICICI BANK

PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE

CURRICULUM FOR THE FOURTH SEMESTER OF
MASTER OF BUSINESS ADMINISTRATION

Department of Management Studies,Bhimtal

Kumaun University

2022-2024

Submitted to: Submitted by:

Gunjan Devrari
221405610022

1
 Department of Management Studies,Bhimtal

Kumaun University

CERTIFICATE

This is to certify that the project report entitled “A

PROJECT REPORT ON JOB SATISFACTION AMONG EMPLOYEES: A
STUDY OF ICICI BANK” is a record of genuine work done by the candidate
Gunjan Devrari (221405610022) in partial fulfillment of requirement for the
award of degree in Master of Business Administration under Kumaun University.

Place: Bhimtal

Date:

2
 DECLARATION

I do hereby declare that the project report entitled “A PROJECT

REPORT ON JOB SATISFACTION AMONG EMPLOYEES: A STUDY OF
ICICI BANK”, submitted to Kumaun University in partial fulfillment of
requirement for the award of degree in Master of Business Administration. I also
declare that the same has not previously submitted as the basis for the award of any
Degree, Diploma or Fellowship or other similar title to any institution or any other
universities.

Place: Bhimtal Gunjan Devrari

Date: 221405610022

3
 ACKNOWLEDGEMENT

I would first thank my god almighty for giving me the wisdom and strength to
undertake and complete this project.

With great pleasure, I am presenting this project entitled “A PROJECT

REPORT ON JOB SATISFACTION AMONG EMPLOYEES: A STUDY OF
ICICI BANK”. At the successful completion of my project I would like to extend
my gratitude to all those, without whose valuable guidance and support it would
have not been possible.
With profound pleasure, I extend my extreme sincere sense of gratitude and
indebtness to my project guide for extensive and valuable guidance that was
always available to me ungrudgingly and instantly, which help me to complete my
project without difficulty.

Last but not least I also thankful to my Seniors and Friends for providing moral
guidance, assistance and encouragement throughout my project work.

Place: Bhimtal Gunjan Devrari

Date: 221405610022

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 CONTENTS
S.NO TITLE PAGE NO.
1. ICICI BANK 7 to 25
1.1-Company profile 8

1.2-History of the company 10

1.3-Vision, Mission 11

1.4- Board of directors 11

1.5-Organisation structure of ICICI

12
bank

1.6-Product and services banking

16
account

1.7- Insurance 17

1.8- Investment products 18

1.9-Trade services 19

1.10-Demat accounts 21

1.11-Risk aspects of ICICI 22

1.12-Subsidary companies 24

1.13-Key group companies 25

25
1.14-Awards

2. INTRODUCTION OF 26 to 37
THE TOPIC
2.1- Introduction of job satisfaction 27
2.2- Definitions of job satisfaction 28
2.3- History of the job satisfaction 29
2.4-Importance to work and
organization 30
2.5-Creating of job satisfaction 31
2.6-Employes’sroles in job

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 satisfaction
2.7-Assuring job satisfaction 33
2.8-Measuring job satisfaction 34
2.9-Employees welfare activities 34
35

3. RESEARCH 37 to 40
METHODOLOGY
3.1- Objectives of the study 39
3.2-Sources of data collection 39
3.3-Research design 39
3.4-Sample sizes 39
3.5-Sampling area 39
3.6-Sampling design 39
3.7- Statistical tools 39
3.8-Analysis of data 39

4. DATA ANALYSIS AND 41 to 50

FINDINGS
5. RECOMMENDATION 51 to 52
AND SUGGESTIONS
6. CONCLUSION AND 53 to 54
LIMITATIONS
7. BIBLOGRAPHY 55 to 56

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 CHAPTER -1
COMPANY PROFILE

1.1 COMPANY PROFILE

ICICI Bank is India's second-largest bank with total assets of about Rs. 23.64 Lakh Crores and a
network of about 6000 branches and offices and over 17,000 ATMs. ICICI Bank offers a wide

7
range of banking products and financial services to corporate and retail customers through a
variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of
investment banking, life and non-Banking , venture capital, asset management and information
technology. ICICI Bank's equity shares are listed in India on stock exchanges at Chennai,
Muzaffarnagar, Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock
Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New
York Stock Exchange (NYSE).
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank was
reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in
the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of
Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by
ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the
initiative of the World Bank, the Government of India and representatives of Indian industry.
The principal objective was to create a development financial institution for providing medium-
term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its
business from a development financial institution offering only project finance to a diversified
financial services group offering a wide variety of products and services, both directly and
through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first
Indian company and the first bank or financial institution from non-Japan Asia to be listed on the
NYSE.
After consideration of various corporate structuring alternatives in the context of the
emerging competitive scenario in the Indian banking industry, and the move towards universal
banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI
with ICICI Bank would be the optimal strategic alternative for both entities, and would create the
optimal legal structure for the ICICI group's universal banking strategy. The merger would
enhance value for ICICI shareholders through the merged entity's access to low-cost deposits,
greater opportunities for earning fee-based income and the ability to participate in the payments
system and provide transaction-banking services. The merger would enhance value for ICICI
Bank shareholders through a large capital base and scale of operations, seamless access to
ICICI's strong corporate relationships built up over five decades, entry into new business

8
segments, higher market share in various business segments, particularly fee-based services, and
access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of
Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned
retail finances subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital
Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and
ICICI Bank in January 2002, by the High Court of Gujarat at Ahmadabad in March 2002, and by
the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group's financing and banking operations, both wholesale
and retail, have been integrated in a single entity.
Banking is the backbone of a modern economy. Health of banking industry is one of the
most important pre-conditions for sustained economic progress of any country. The world of
banking has assumed a new dimension at the dawn of the 21st century with the advent of tech
banking, thereby lending the industry a stamp of universality. In general, banking may be
classified as retail and corporate banking. Retail banking, which is designed to meet the
requirements of individual customers and encourage their savings, includes payment of utility
bills, consumer loans, credit cards, checking account balances, ATMs, transferring funds
between accounts and the like. Corporate banking, on the other hand, caters to the needs of
corporate customers like bills discounting, opening letters of credit and managing cash.
The Indian banking scene has changed drastically with the private sector making inroads
in an area hitherto dominated by large public sector banks. Growing disinvestment is likely to
impact the banking industry as well. There is every possibility of privatization of public sector
banks, leading to greater operational autonomy.
The development of the Indian banking sector has been accompanied by the introduction
of new norms such as Income Recognition and Capital Adequacy, by the government. The latter
implies that banks can lend on the basis of their respective capital base. These norms have
caused banks to construct equity on their own, before going in for debt. Disintermediation is a
real threat for banks. Of late, banks are adopting the EVA (Economic Value Added) concept
wherein revenues are viewed in the context of the risk associated with them.

1.2 HISTORY OF THE COMPANY

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 ICICI Bank has signed an agreement to use the NCR switch mark technology for online-
networking all its ATMs, the officials said they network would come into place in September.
ICICI Bank recently restructured its organizational structure by setting up strategic
business units for retail banking, corporate banking and fore and treasury operations, as
independent profit centers.
ICICI is all set to launch a 60-second television commercial on August 15, 1999.
2000
ICICI Bank became the first Indian bank to list on the New York Stock Exchange with
its $175-million American depository shares issue generating a demand book 13 times its size at
$2.2 billion.
The Bank proposes to bring credit cards to the "large, underserved population" in rural
and semi-urban areas.
Sky Cell Communications Ltd, one of the two cellular service providers in Chennai, has
launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC Bank.
The ICICI has announced the launch of mobile banking services for its customers, using
the wireless application protocol (WAP) technology.
Ford India has tied up with ICICI Bank to introduce a scheme, enabling non-resident
Indians (NRIs) to purchase a Ford Icon car for their friends and relatives in India.
ICICI Bank has set up an ATM facility at an Indian Oil Corporation petro diesel outlet at
Chennai.
ICICI Bank has tied up with Chennai Telephones to provide Internet bill payment
facility to its customers.

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1.3 VISION AND MISSION

VISION – To be the leading provider of financial services in India and a major global bank.

MISSION – We will leverage our people, technology, speed and financial capital to:

 Be the banker of first choice for our customers by delivering high quality, world-class
products and services.
 Expand the frontiers of our business globally.
 Play a proactive role in the full realization of India’s potential.
 Maintain a healthy financial profile and diversify our earnings across businesses
and geographies.
 Maintain high standards of governance and ethics.
 Contribute positively to the various countries and markets in which we operate.
 Create value for our stakeholders.

1.4 BOARD OF DIRECTORS

 Mr.Sandeep Batra Executive Director

 Mr.Rakesh Jha Executive Director
 Ms.Neelam Dhawan Independent Director
 Mr.Hari L Mundra Independent Director
 Mr.S Madhavan Independent Director
 Mr.Radhakrishnan Nair Independent Director
 Mr.B Sriram Independent Director
 Mr.Uday Chitale Independent Director
 Ms.Vibha Paul Rishi Independent Director
 Mr.Sandeep Bakhshi Managing Director & CEO
 Mr.Girish Chandra Chaturvedi Non Exe.Part Time Chairman

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Key Executives
Name Designation
 Mr.Rajendra Khandelwal  Chief Accountant

 Ms.Prachiti Lalingkar  Co. Secretary & Compl. Officer

 Mr.Anindya Banerjee  Group Chief Financial Officer

1.5 ORGANISATIONAL STRUCTURE OF ICICI BANK

ICICI Bank’s organization structure is designed to be flexible and customer-

focused, while seeking to ensure effective control and supervision andconsistency in standards
across the organization and align all areas of operations to overall organizational objectives. The
organization structure is divided into six
principal groups – Retail Banking, Wholesale Banking, InternationalBanking, Rural (MicroBank
ing) and Agriculture Banking, GovernmentBanking and Corporate Center.

 RETAIL BANKING

The Retail Banking Group is responsible for products and services for
retailcustomers and small enterprises including various credit products, liability products, distribu
tion of third party investment and insurance products and transaction banking services.

 WHOLESALE BANKING

The Wholesale Banking Group is responsible for products and services for large and medium-
sized corporate clients, including credit and treasury products,
investment banking, project finance, structured finance and transaction banking services.

 INTERNATIONAL BANKING

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The International Banking Group is responsible for its international operations, including
operations in various overseas markets as well as its products andservices for non-
resident Indians and its international trade finance and correspondent banking relationships.

 RURAL AND AGRICULTURAL BANKING

The Rural, MicroBanking & AgriBusiness Group is responsible for envisioning and implementin
g rural banking strategy, including agricultural banking and micro-finance.

 GOVERNMENT BANKING

The Government Banking Group is responsible for government banking initiatives.

 CORPORATE CENTER

The Corporate Center comprises the internal control environment functions(including operations,
risk management, compliance, audit and legal);
finance(including financial reporting, planning and strategy, asset liabilitymanagement, investor
relations and corporate communications); humanresitsces management; and facilities
management & administration.

 BUSINESS REVIEW

During fiscal 2008, the Bank continued to grow and diversify its asset base and revenue streams
by leveraging the growth platforms created over the past few years. We maintained our
leadership position in retail credit, achieved
robustgrowth in our fee income from both corporate and retail businesses,strengthened our
deposit franchise and significantly scaled up our corporate and international banking operations.

 RETAIL BANKING

We are the largest provider of retail credit in India. Our total retail portfolio was Rs. 1,316.63
billion at March 31,2008, constituting 58% of our total loans at that date.

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During fiscal 2008, we continued our focus on strengthening our retail
depositfranchise to create a stable funding base. Our current and savings account(CASA)
deposits as a percentage of total deposits increased from 22% at March31, 2007 to 26% at March
31, 2008, with savings account deposits increasing by36% during fiscal 2008.During the year,
we have expanded our branch network substantially. At
March31, 2008, we had 1,262 branches & extension counters compared to 755 branches &
extension counters at March 31, 2007, including the addition of about 200 branches through the
merger of Single Bank. Our branch network has further increased to 1,367 as of May 31, 2008.
We continued to expand
our electronic channels, namely internet banking, mobile banking, call centres, point of sale
terminals and ATMs, and migrate customer transaction volumes to these channels. We increased
our ATM network to 3,881 ATMs at March 31, 2008 from 3,271 ATMs at March 31, 2007.

 SMALL AND MEDIUM ENTERPRISES

During fiscal 2008, our small enterprises customer base increased by 26% to about 1.1 million
accounts. We have introduced our service offerings in over 400 new branches, increasing our
coverage to over 1,000 branches. During the year, we have focused on product specialization
including investment banking for SMEs. We have continued to focus on shaping the small and
medium enterprises sphere in India through initiatives such as the “Emerging India Awards”, the
SME CEO Knowledge Series - a platform to mentor and assist SME entrepreneurs, and the
“SME Dialogue” - a weekly feature in a leading financial newspaper sharing SME best practices
and success stories. During the year, we have launched several new products and services like
the SME toolkit – an online business and advisory resource for SMEs...

 CORPORATE BANKING

It’s corporate banking strategy is based on providing comprehensive andcustomized financial

solutions to its corporate customers. It offer a complete range of corporate banking products
including rupee and foreign currency debt, working capital credit, structured financing,
syndication and transaction banking products and services. Fiscal 2008 saw continued demand
for credit from the corporate sector, with growth and additional investment demand across all

14
sectors. We were able to leverage our international presence and deep corporate relationships to
work on overseas acquisitions made by Indian companies and infrastructure projects in India.
During fiscal 2008 we were involved in 75% of outbound mergers
andacquisitions deals from India. We are now a preferred partner for Indiancompanies for
syndication of external commercial borrowings and other fundraising in international markets
and have been ranked number one in offshore loan syndications of Indian corporate in calendar
year 2007..

 RURAL BANKING

It’s rural strategy is based on enhancing value at every level of the supply chain in all-important
farm and non-farm sectors. Towards this end, it offer a range of financial products and services
that cater to the rural masses in all the important sectors like infrastructure, horticulture, food
processing, dairy, poultry, seeds, fertilizer and agrochemical industries. Customized financial
solutions are offered to individual customers, agric small & medium enterprises, agricorporates
and members of their supply chains. On the rural retail side, the Bank offers crop loans, farm
equipment financing, commodity-based loans, working capital loans for agri-enterprises,
microfinance loans, jewel loans as well as savings, investment and insurance products. In
addition bank is introducing products like rural housing finance to cater to the needs of rural
customers.

 INTERNATIONAL BANKING

ICICI Bank has established a strong franchise among non-resident Indians(NRI). It has establish
ed strong customer relationships by offering acomprehensive product suite, technology-enabled a
ccess for overseascustomers, a wide distribution network in India and alliances with local banks
in various markets. It has over 5, 00,000 NRI customers. It has undertaken significant brand-
building initiatives in international markets and have emerged as a well-recognized financial
services brand for NRIs. It’s market share in inward remittances into India has increased to over
25%. It has consolidated it’s global remittance initiative, targeting non-Indian communities, by
leveraging its core capabilities of technology-based service delivery.
Alarge number of remittance products was introduced to complement theexisting suite of

15
products. The business focus has been on rolling out
successful products across multiple geographies and getting into high volumecorrespondent
arrangements.

1.6 PRODUCTS AND SERVICES BANKING ACCOUNTS

ICICI Bank offers a wide range of banking accounts such as Current, Saving, Life Plus Senior,
Recurring Deposit, Young Stars, Salary Account etc. tailor-
made for every customer segments, from children to senior citizens.Convenience and ease to
access are the benefits of ICICI Bank accounts.

 YOUNG STARS ACCOUNT

A special portal for children to learn banking basics, manage personal finances and have a lot of
fun.

 BANK@CAMPUS

This student banking services gives students access to their account details at the click of
a mouse. Plus, the student gets a cheque book, debit card and annual statements.

 SAVINGS ACCOUNTS

Convenience is the name of the game with ICICI bank’s savings account. Whether it is
an ATM/debit card, easy withdrawal, easy loan options or internet banking, ICICI bank’s saving
account always keep you in touch of money.

 FIXED DEPOSITS

ICICI Bank offers a range of deposit solutions to meet varying needs at every stage of life. It
offers a range of tenures and other features to suit all requirements.

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1.7 INSURANCE

The ICICI group offers a range of insurance products to cover varying needs ranging from life,
pensions and health, to home, motor and travel insurance.
Theproducts are made accessible to customers through a wide network of advisors, banking part
ners, Corporate agents and brokers with the added convenience of being able to buy online.

 LIFE INSURANCE

The ICICI group provides the many life insurance product through ICICI Prudential Life
Insurance Company.

 GENERAL INSURANCE

The ICICI group provides the many general insurance products like motor, travel and home
insurance through ICICI Lombard General Insurance Company.

 LOANS

ICICI bank offers a range of deposits solutions to meet varying needs at

everystage of life. It offers a range of tenures and other features to suit allrequirements.

 HOME LOAN

The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans
offers some unbeatable benefits to its customers Doorstep Service,
Simplified Documentation and Guidance throughout the Process. It’s really easy.

 PERSONAL LOAN

ICICI Bank Personal Loans are easy to get and absolutely hassle free. With minimum
documentation you can now secure a loan for an amount up to Rs. 15 lakhs.

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1.8 INVESTMENT PRODUCTS:

Along with Deposit products and Loan offerings, ICICI Bank assists you to manage its finances
by providing various investment options ranging from ICICI Bank Tax Saving Bonds to Equity
Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates
following investment products:

ICICI Bank Tax Saving Bonds

 Government of India Bonds

 Investment in Mutual Funds
 Initial Public Offers by Corporates
 Investment in "Pure Gold"
 Foreign Exchange Services
 Senior Citizens Savings Scheme,2004

1.9 TRADE-SERVICES:

ICICI Bank offers online remittances as well as online processing of letters of credit and bank
guarantees.

 ASSET-MANAGEMENT

Prudential ICICI Asset Management Company offers a wide range of retail mutual fund products
tailored to suit varied risk and maturity profiles.

 CASH MANAGEMENT

ICICI bank offers complete range of highly customized solutions for managing both the
collections and payments requirements of clients by leveraging technology. Daily customized
transactions reports and real time web-enabled downloads, provide on-tap information
facilitating effective working capital management.

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  CORPORATE BANKING

ICICI Bank offers comprehensive and customized financial solutions for its corporate clients,
including rupee and foreign currency debts, working capital credit, structured financing
syndication and transaction banking products and services.

 INTERNET BANKING

Internet banking is available to all ICICI bank savings and deposit account
holders , credit card, demat and loancustomers. Internet banking service offers customers a worl
d of convenience with services such as balance enquiry, transaction history,
account statement, bill payments, and fund transfers and account related service request.

 ATMs

With around 17,000 ATMs across the country, ICICI Bank has one of the largest ATM networks
in India.

 PHONE BANKING

Phone banking offers 24*7 service across liability, asset and investment products to both retail
and corporate customers.

 NRI-BANKING:

A gamut of services to take care of all NRI banking needs including deposits, money transfers
and private banking.

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1.10 DEMAT ACCOUNTS:

ICICI Bank’s demit services after unique features like e-constructions, consolidation,
digitally signed statements, mobile request sand corporate benefit tracking.

 RURAL-BANKING:

Bank offers technology-based solutions, financial innovations and multiple delivery channels to
meet the financial needs of rural areas.

 MICROFINANCE:

ICICI Bank assists over 2.5 million low income clients to build livelihoods by partnering with
over 100 microfinance institutions.

 BRANCHES:

ICICI Bank has a network of over 6000 branches (of which 51 are extension counters) across the
country. The network puts a wide range
of banking products and financial services with in easy reach of retail andcorporate customers.

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1.11 RISK ASPECTS OF ICICI BANK

 RISK MANAGEMENT

Risk is an integral part of the banking business and bank aim at delivering superior shareholder
value by achieving an appropriate trade-off between risk and returns. Bank is exposed to various
risks, including credit risk, market
risk and operational risk. Bank’s risk management strategy is based on a clear understanding of
various risks, disciplined risk assessment and measurement procedures and continuous
monitoring. The policies and procedures established for this purpose are continuously
benchmarked with international best practices. Bank has two dedicated groups, the RISK
MANAGEMENT GROUP (RMG)
and COMPLIANCE & AUDIT GROUP (CAG) which is responsible for assessment,
management and mitigation of risk in ICICI Bank. These groups from part of the corporate
center are completely independent of all business operations and are accountable to the Risk and
Audit committees of the Board of directors. RMG is further organized into the Credit Risk
Management group,
Market Risk Management group, Retail Risk Management group andOperational Risk
Management group. CAG is further organized into the Credit Policies, RBI Inspection & Anti-
Money Laundering Group and the Internal Audit Group.

 CREDIT RISK

Credit risk is the risk that a borrower is unable to meet its financial obligations to the lender.
Bank measure, monitor and manage credit risk for each borrower and also at the portfolio level.
Bank has standardized credit-approval processes, which include a well-established procedure for
comprehensive credit appraise land rating. ICICI Bank has well developed internal credit rating
method logiest for rating obligors. The rating factors in quantitative, qualitative issues and credit
enhancement features specific to the transaction. The rating serves as a key input in the approval
as well as post-approval credit processes.
Industryknowledge is constantly updated through field visits and interactions withclients,

21
regulatory bodies and industry experts. In retail credit operations, the Board or a Board
Committee approves all products, policies and
authorizations.complying with all treasury related management and regulatory reportingrequirem
ents.

 OPREATIONAL RISK

Operational risk is the risk of loss that can result from a variety of factors,
including failure to obtain proper internal authorizations, improperlydocumented transactions, fai
lure of operational and information security procedures, computer systems, software or equipme
nt, fraud, inadequatetraining and employee errors. Bank’s approach to operational risk
managements designed to mitigate operational risk by maintaining
a comprehensivesystemof internal controls, establishing systems and procedures to monitor trans
actions, maintaining key back-up procedures and undertaking regular contingency planning.
Effective operational risk management system would ensure that bank has sufficient information
to make appropriate decisions about additional controls, adjustments to controls, or other risk
responses. Operational risk management policy aims at minimizing losses and customer
dissatisfaction due to failure in processes, focusing on flaws in products and their design that can
expose the bank to losses due to fraud, analyzing the impact of failures in systems, developing
mitigates to minimize the impact and developing plans
tomeet external shocks that can adversely impact continuity in the bank’soperations.

22
1.12 SUBSIDIARY COMPANIES

 DOMESTIC SUBSIDIARIES

 ICICI Home Finance Company Limited

 ICICI Investment Management Company Limited
 ICICI Lombard General Insurance Company Limited
 ICICI Prudential Life Insurance Company Limited
 ICICI Securities Limited
 ICICI Trusteeship Services Limited
 ICICI Venture Funds Management Company Limited
 ICICI Securities Primary Dealership Limited
 ICICI Prudential Asset Management Company Limited
 ICICI Prudential Trust Limited

 INTERNATIONAL SUSIDIARIES

 ICICI Bank Canada

 ICICI Bank Eurasia Limited Liability Company
 ICICI International Limited
 ICICI Securities Holding Inc
 ICICI Securities Inc
 ICICI Bank Uk Limited

23
1.13 KEY GROUP COMPANIES

1.14 AWARDS

 The Bank received several awards during fiscal 2008, including the following:
 “Best Bank in Asia” by Euro money
 “Best Bank in India” by Euro money
 “Fabulous 50 companies in Asia” by Forbes Asia
 Best Domestic Bank in India” by Asset Triple A
 “Best Bank of the Year (India)” by The Banker
 “Best Private Sector Bank” by Outlook Money NDTV Profit Awards 2007
 “Asia’s Best Financial Borrower 2007“ by Euro money
 “Excellence in Remittance Business“ by Asian Banker
 “Most Preferred Brand” for home loans, auto loans, credit cards and financial advisory
services by CNBC Award
 “Innovative Technology Award” by CIO
 “Best Regional Private Bank” by the Banker.

24
 CHAPTER-2

INTRODUCTION OF THE
TOPIC

25
2.1 INTRODUCTION OF JOB SATISFACTION

"Job satisfaction is defined as "the extent to which people like (satisfaction) or dislike
(dissatisfaction) their jobs".

This definition suggests job satisfaction is a general or global affective reaction that individuals
hold about their job. While researchers and practitioners most often measure global job
satisfaction, there is also interest in measuring different "facets" or “dimensions" of satisfaction.
Examination of these facet conditions is often useful for a more careful examination of employee
satisfaction with critical job factors. Traditional job satisfaction facets include: co-workers, pay,
job conditions, supervision, nature of the work and benefits."

Job satisfaction, a worker's sense of achievement and success, is generally perceived to be

directly linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a
job one enjoys, doing it well, and being suitably rewarded for one's efforts. Job satisfaction
further implies enthusiasm and happiness with one's work. The Harvard Professional Group
(1998) sees job satisfaction as the keying redient that leads to recognition, income, promotion,
and the achievement of other goals that lead to a general feeling of fulfillment.

The issue of Job Satisfaction, Motivation in the workplace and the role of Job Characteristics
have been the cause of intensive research for many years now and have given rise to many
theories, formed on the basis of extended research by psychologists, social scientists and HRD
managers. The concept of job satisfaction, though of considerably recent origin, is closely linked
to motivation in the workplace and is a causal factor in improved performance in the workplace.
These issues are again linked to Job Characteristics, which primarily describe the inherent
features of a job, which can again motivate or demotivate workers, and whose tweaking can thus
change a the inherent motivational features of the job. During recent times an impression has
been gaining ground that all is not well with the satisfaction and motivational levels of workers
in British business, a fact that is also borne out to a certain extent by recent surveys.
It is the purpose of this research assignment to delve deeply into the matter and investigate all the
above areas as well as linked developments.

26
2.2 DEFINITIONS OF JOB SATISFACTION
In simple words, job satisfaction can defined as extent of positive feelings or attitudes that
individuals have towards their jobs. When a person says that he has high job satisfaction, it
means that he really likes his job, feels good about it and values his job dignity.

 ANDREW BRIN: “Job satisfaction is the amount of pleasure or contentment associated

with a job. If you like your job intensely, you will experience high job satisfaction.if you
dislike your job intensely, you will experience job dissatisfaction.

 P. Robbins: “Job satisfaction is a general attitude towards one’s job: the difference
between the amount of reward workers receive and the amount they believe they should
receive.”

 Fieldman and Arnold: “Job satisfaction will be defined as amount of overall positive
affect that individuals have towards their jobs.”

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2.3 HISTORY OF THE JOB SATISFACTION
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These
studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School, sought to
find the effects of various conditions (most notably illumination) on workers’ productivity.
These studies ultimately showed that novel changes in work conditions temporarily increase
productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from
the new conditions, but from the knowledge of being observed. This finding provided strong
evidence that people work for purposes other than pay, which paved the way for researchers to
investigate other factors in job satisfaction. Scientific management (aka Taylorism) also had a
significant impact on the study of job satisfaction. Frederick Winslow Taylor’s 1911 book,
Principles of Scientific Management, argued that there was a single best way to perform any
given work task. This book contributed to a change in industrial production philosophies,
causing a shift from skilled labor and piecework towards the more modern approach of assembly
lines and hourly wages. The initial use of scientific management by industries greatly increased
productivity because workers were forced to work at a faster pace. However, workers became
exhausted and dissatisfied, thus leaving researchers with new questions to answer regarding job
satisfaction. It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo
Munsterberg set the tone for Taylor’s work. Some argue that Maslow’s hierarchy of needs
theory, a motivation theory, laid the foundation for job satisfaction theory. This theory explains
that people seek to satisfy five specific needs in life – physiological needs, safety needs, social
needs, self-esteem needs, and self-actualization. This model served as a good basis from which
early researchers could develop job satisfaction theories

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2.4 IMPORTANCE TO WORK AND ORGANISATION
Frequently, work underlies self-esteem and identity while unemployment lowers self-worth and
produces anxiety. At the same time, monotonous jobs can erode a worker's initiative and
enthusiasm and can lead to absenteeism and unnecessary turnover. Job satisfaction and
occupational success are major factors in personal satisfaction, self-respect, self-esteem, and self-
development. To the worker, job satisfaction brings a pleasurable emotional state that often leads
to a positive work attitude. A satisfied worker is more likely to be creative, flexible, innovative,
and loyal.
For the organization, job satisfaction of its workers means a work force that is motivated and
committed to high quality performance. Increased productivity—the quantity and quality of
output per hour worked—seems to be a byproduct of improved quality of working life. It is
important to note that the literature on the relationship between job satisfaction and productivity
is neither conclusive nor consistent. However, studies dating back to Herzberg's (1957) have
shown at least low correlation between high morale and high productivity, and it does seem
logical that more satisfied workers will tend to add more value to an organization.
Unhappy employees, who are motivated by fear of job loss, will not give 100 percent of their
effort for very long. Though fear is a powerful motivator, it is also a temporary one, and as soon
as the threat is lifted performance will decline. Tangible ways in which job satisfaction benefits
the organization include reduction in complaints and grievances, absenteeism, turnover, and
termination; as well as improved punctuality and worker morale. Job satisfaction is also linked to
a healthier work force and has been found to be a good indicator of longevity. And although only
little correlation has been found between job satisfaction and productivity, Brown (1996) notes
that some employers have found that satisfying or delighting employees is a prerequisite to
satisfying or delighting customers, thus protecting the "bottom line." No wonder Andrew
Carnegie is quoted as
Saying: "Take away my people, but leave my factories, and soon grass will grow on the factory
floors. Take away my factories, but leave my people, and soon we will have a new and better
factory"

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2.5 CREATING JOB SATISFACTION
So, how is job satisfaction created? What are the elements of a job that create job satisfaction?
Organizations can help to create job satisfaction by putting systems in place that will ensure that
workers are challenged and then rewarded for being successful. Organizations that aspire to
creating a work environment that enhances job satisfaction need to incorporate the following:
 Flexible work arrangements, possibly including telecommuting
 Training and other professional growth opportunities
 Interesting work that offers variety and challenge and allows the worker opportunities to
"put his or her signature" on the finished product
 Opportunities to use one's talents and to be creative
 Opportunities to take responsibility and direct one's own work
 A stable, secure work environment that includes job security/continuity
 An environment in which workers are supported by an accessible supervisor who
provides timely feedback as well as congenial team members
 Flexible benefits, such as child-care and exercise facilities
 Up-to-date technology
 Competitive salary and opportunities for promotion

Probably the most important point to bear in mind when considering job satisfaction is that there
are many factors that affect job satisfaction and that what makes workers happy with their jobs
varies from one worker to another and from day to day. Apart from the factors mentioned above,
job satisfaction is also influenced by the employee's personal characteristics, the manager's
personal characteristics and management style, and the nature of the work itself. Managers who
want to maintain a high level of job satisfaction in the work force must try to understand the
needs of each member of the work force. For example, when creating work teams, managers can
enhance worker satisfaction by placing people with similar backgrounds, experiences, or needs
in the same workgroup. Also, managers can enhance job satisfaction by carefully matching
workers with the type of work. For example, a person who does not pay attention to detail would
hardly make a good inspector, and a shy worker is unlikely to be a good salesperson. As much as
possible, managers should match job tasks to
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Employees' personalities. Managers who are serious about the job satisfaction of workers can
also take other deliberate steps to create a stimulating work environment.

One such step is job enrichment. Job enrichment is a deliberate upgrading of responsibility,
scope, and challenge in the work itself. Job enrichment usually includes increased responsibility,
recognition, and opportunities for growth, learning, and achievement. Large companies that have
used job-enrichment programs to increase employee motivation and job satisfaction include
AT&T, IBM, and General Motors (Daft, 1997). Good management has the potential for creating
high morale, high productivity, and a sense of purpose and meaning for the organization and its
employees.

Empirical findings show that job characteristics such as pay, promotional opportunity, task
clarity and significance, and skills utilization, as well as organizational characteristics such as
commitment and relationship with supervisors and co-workers, have significant effects on job
satisfaction. These job characteristics can be carefully managed to enhance\ job satisfaction. Of
course, a worker who takes some responsibility for his or her job satisfaction will probably find
many more satisfying elements in the work environment. Everett (1995) suggests that employees
ask themselves the following questions:

 When have I come closest to expressing my full potential in a work situation?

 What did it look like?
 What aspects of the workplace were most supportive?
 What aspects of the work itself were most satisfying?
 What did I learn from that experience that could be applied to the present situation?

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2.6 EMPLOYEE'S ROLES IN JOB SATISFACTION
If job satisfaction is a worker benefit, surely the worker must be able to contribute to his or her
own satisfaction and well-being on the job. The following suggestions can help a worker find
personal job satisfaction:
 Seek opportunities to demonstrate skills and talents. This often leads to morechallenging
work and greater responsibilities, with attendant increases in pay and other recognition.

 Develop excellent communication skills. Employer’s value and reward excellent

reading, listening, writing, and speaking skills.

 Know more. Acquire new job-related knowledge that helps you to perform tasksmore
efficiently and effectively. This will relieve boredom and often gets one noticed.

 Demonstrate creativity and initiative. Qualities like these are valued by

mostorganizations and often result in recognition as well as in increased responsibilities
and rewards.

 Develop teamwork and people skills. A large part of job success is the ability to work
well with others to get the job done

 Accept the diversity in people. Accept people with their differences and
theirimperfections and learn how to give and receive criticism constructively.

 See the value in your work. Appreciating the significance of what one does canlead to
satisfaction with the work itself. This helps to give meaning to one'sexistence, thus
playing a vital role in job satisfaction.

 Learn to de-stress. Plan to avoid burnout by developing healthy stress Management

techniques.

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2.7 ASSURING JOB SATISFACTION
Assuring job satisfaction, over the longterm, requires careful planning and effort both by
management and by workers. Managers are encouraged to consider such theories as Herzberg’s
(1957) and Maslow's (1943) Creating a good blend of factors that contribute to a stimulating,
challenging, supportive, and rewarding work environment is vital. Because of the relative
prominence of pay in the reward system, it is very important that salaries be tied to job
responsibilities and that pay increases be tied to performance rather than seniority. So, in
essence, job satisfaction is a product of the events and conditions that people experience on their
jobs. Brief (1998) wrote: "If a person's work is interesting, her pay is fair, her promotional
opportunities are good, her supervisor is supportive, and her coworkers are friendly, then a
situational approach leads one to predict she is satisfied with her job" (p. 91). Very simply put, if
the pleasures associated with one's job outweigh the pains, there is some level of job satisfaction

2.8 MEASURING JOB SATISFACTION

This report provides a comparative overview of how job satisfaction is measured in national
working conditions surveys, based on 16 national contributions to a questionnaire (PDF file). It
investigates conceptual and methodological issues in the study of job satisfaction. The report
then examines survey results on levels of general or overall job satisfaction among workers, as
well as identifying the relationship between specific factors relating to work and job satisfaction.
The national contributions from the following 16 countries are available (as PDF files): Austria ,
Bulgaria , the Czech Republic , Denmark , Estonia , Finland , France , Germany , Hungary , Italy
The Netherlands , Portugal , Romania , Spain , Sweden and the United Kingdom . Jorge Cabrita
and Heloisa Perista (CESIS, Portugal) coordinated the preparation of this comparative analytical
report. Importance of job satisfaction Investigated by several disciplines such as psychology,
sociology, economics and management sciences, job satisfaction is a frequently studied subject
in work and organisational literature. This is mainly due to the fact that many experts believe that
job satisfaction trends can affect labour market behaviour and influence work productivity, work
effort, employee absenteeism and staff turnover. Moreover, job satisfaction is considered a
strong predictor of overall individual well-being (Diaz Serrano and Cabral Vieira, 2005), as well

33
as a good predictor of intentions or decisions of employees to leave a job (Gazioglu and Tansel,
2002).
2.9 EMPLOYEE WELFARE ACTIVITIES
Welfare activities include all service, amenities and facilities provided by the employer to
employees other than wages. The international labor conference at its 39 session enumerated the
following activities-
 Feeding facilities
 Rest and recreation facilities
 Transportation to and from the work place to their homes, etc.
The labor investigation committee stated, “For our port we pray to include welfare activities
anything done for the intellectual, physical, moral and economic betterment of the worker
whether by employer, by Govt. or by other agencies over and above is laid by law”

BASIC FEATURES OF WELFARE MEASURES

 Employee welfare activities include various facilities, services and amenities provided to
workers for improving their health, efficiency, social status and economic betterment.
 Welfare measures are in addition to regular wages and other economic benefit available
to workers as per legal provision and collective bargaining.
 Employee welfare measures are flexible and ever changing new welfare measures are
added to the existing ones from time to time.

IMPORTANCE OF WELFARE ACTIVIES IN INDIA

Welfare activities in India are essentially required because India is a developing country and
welfare activities are necessary for improving the working conditions as well as the economic
standard of the workers. In all the developed countries of the world the employers are providing
best working conditions to their employees.

Following are the reasons why welfare activities are important in India:
 Establishment of industrial peace: - Employee welfare activities help in establishing
harmonious relationship between employers and employees. The feeling among the

34
 employees that they are getting all the possible facilities and employers take care of them
helps in establishment of industrial peace.
 Increase in the responsibilities of the employees: - Provision of employee welfare
activities in an enterprise increase the sense of responsibility among its employees as they
feel that they should work efficiently and to the best of their ability for the facilities they
are getting in the company.
 Helpful in reducing the rate of absenteeism and labor turnover: - the rate of absenteeism
and labor turnover is much higher in India compared to other developed countries of the
world. The provision of labor welfare activities helps in reducing this rate when
employees are satisfied.
 Increases the efficiency of the workers: - Labor welfare activities increase the working
efficiency of employees as it develops a feeling of dedication among them. Due to
increase in efficiency the productivity of the enterprises increases considerably
 Helpful in maintaining health and safety of the employees: - Most of the Indian workers
are unhealthy and ill fed which reduces the working capacity of the employees. Provision
of nourishing food and medical facilities help in maintaining health and safety of
employees. Provision of various safety measures, insurance schemes, etc all aids in
employee satisfaction.

OBJECTIVES OF EMPLOYEE WELFARE ACTIVITIES IN A NUTSHELL

 To provide proper working conditions to the employees so that they are motivated to stay
in the organization.
 To make the quality of work life better in the organization.
 To develop a healthy competition among employees with a feeling of integration.
 To establish harmonious relationship between labor unions, employees and the govt.
 To relieve workers from industrial fatigue and to improve intellectual/cultural and
material condition.
 To make workers happy and satisfied.

CONSTITUTION OF LABOR WELFARE ACTIVITIES

Dr. Broughton has divided labor activities into two categories as follows:

35
1 .Intra-Mural activities
2. Extra-Mural activities

Intra-Mural activities: in this category those welfare activities are included which are made
available to the workers within the organization. These facilities include the following:
1. Scientific selection or appointment-The scientific selection of workers for various jobs
within the factory.
2. Industrial training-Training for different jobs in the factory.
3. Arrangement for light, fresh air and water-This classification comprehends arrangement
in factory for cleanliness, ventilation, clean drinking water, lavatories, urinals, light, air,
etc.
4. Prevention of accidents-It includes the arrangement for protection against dangerous
machines, fire and extreme fluctuation of power, etc.
5. Other activities-various other activities for welfare of workers like restrooms, etc.
6. Health and medical facilities for the employees and their family members.

Extra-Mural activities- these are the activities provided by enterprises for welfare of their
employees outside the enterprises. It includes the following-
1. Provision of education- arrangement for the education and the training of workers and the
facilities of education for the children of workers.
2. Accommodation facility-arrangement for proper housing accommodations for the
employees at the rent that they can afford easily.
3. Facilities of recreation-arrangement such as clubs, libraries, reading rooms, gymnasium,
etc.
4. Provision of providing food to the employees at affordable prices.
5. Provision for provident.
6. Provision for gratuity.
7. Provision for sickness and maternity benefits.
8. Arrangement of co-operative societies from where the employees can purchase goods of
daily use at reasonable prices.
9. Group insurance scheme.

36
10. Facilities of transportation.

CHAPTER- 3
RESEARCH
METHODOLOGY

37
3.1-OBJECTIVES OF THE STUDY
The objectives of the study are as follows:
 To assess the job satisfaction level among employees of ICICI Bank.

 To identify the factors which influence the job satisfaction of the bank employees.

3.2-SOURCES OF DATA COLLECTION

 Primary data: The primary data has been collected by means of questionnaires from the
employees of ICICI Bank.

 Secondary data: The secondary data has been collected from various public sources e.g.
books, journals and various website.

3.3-RESEARCH DESIGN
A research design is considered as the framework or plan for a study that guides how to conduct
the research. The descriptive research design is adopted for this project.

3.4-SAMPLE SIZES
The sample size for the present study is 50.

3.5-SAMPLING AREA
The study is conducted on employees of ICICI Bank in Haldwani region.

3.6-SAMPLING DESIGN
The researcher has used probability sampling in which simple random sampling is used.

3.7-STATISTICAL TOOLS
The statistical tools used for analyzing the data collected are percentage method, chi square, bar
diagrams and pie diagrams.

3.8-ANALYSIS OF DATA

38
Various steps, which are required before analysis i.e., editing, coding, and tabulating were
adopted in order to analyze the data. Editing refers to separate, correct and modify the collected
data. Coding refers to assigning number or other symbols to each answer for placing them in
categories to prepare data for tabulation. Tabulation refers to bring together the similar data in
rows and columns and totaling them in an accurate and meaningful manner
The collected data are analyzed and interpreted using various statistical tools and techniques.

39
 CHAPTER – 4
DATA ANALYSIS
&
Findings

Table 1: For how many years you are associated with the current organisation (ICICI Bank)?

40
Table 2: Grade in the Current organisation.

Table 3: The physical working environment

41
Table 4: The satisfaction level of employees towards the non monitory benefits.

Table 5: The satisfaction level of respondents towards the work assigned.

42
 Total

Highly Dissatisfied
Highly Satisfied
Neither Satisfied nor Dissat-
isfied
Satisfied

Table 6: Opinion about the career development programme in their organization.

Table 7: The cooperation of co-workers.

43
Table 8: To know the satisfaction level of respondents with top management.

Table 9: The satisfaction level of respondents with their subordinates.

44
Table 10: The level of satisfaction regarding nature of job.

Table 11: There is no job pressure in their work.

45
Table 12: To know the opinion regarding opportunity provided by the organization in developing
skills & talents.

Table 13: To know the satisfaction level of welfare facilities provided by the management.

46
Table 14: The employees are satisfied towards the salary.

Table 15: To know the employees willingness to continue with the organization.

47
Table 16: To know the opinion about company’s policy and practices.

Table 17: Employees review towards the company’s promotion policy.

48
FINDINGS

49
 Most of the employee said that the physical working environment is good in the
organization.
 Most of the employees were satisfied to the non monitory benefits in the organization.
 Respondents i.e. employees of the organizations are satisfied towards the work assigned.
 Most of the employees are satisfied with the opinion about career development
programme in the organization.
 Most of the employees were satisfied with the corporation of co-worker
 Most of the employees were satisfied with the top management in the organization
 Most of the employees were satisfied with the subordinates in the organization
 Most of the employees were satisfied with their job in the organization.
 Most of the employees said that there in job pressure in their work in the organization
 Most of the employees agreed with the opinion regarding opportunity by the organization
in developing their skills and talents.
 Most of the employees were satisfied with the welfare facilities provided by the
management in the organization.
 Most of the employees were satisfied with their salary
 Most of the employees were willing to continue in this organization
 Most of the employees feels good about the company policy and practices.
 Most of the employees were satisfied of the company promotion policy.

50
 CHAPTER-5
RECOMMENDATION
AND
SUGGESTIONS

RECOMMENDATIONS AND SUGGESTIONS

1 .Policies should be made to retain employees.

51
2. Salary is the most important factor considered in job satisfaction. So employees should be
given good salary.

3. Training and development programs should be conducted from time to time so that employees
do not get bored from their job.

4. Career development programs should be organized to develop skills, knowledge and abilities
of the employee

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 CHAPTER-6
CONCLUSION
AND
LIMITATION

CONCLUSION

ICICI bank in its initial stages of growth and development had tried its level best to provide the
best environment and policies to its employees. Through the research carried, it is found out that
the job satisfaction rate is quite good and the no. of unsatisfied employees is too low the
employees in the organization is quite happy with the physical environment and facilities
provided by the organization. The employees in the organization are very contended with not
only the physical environment but all other factors which are essential for job satisfaction.

The organization has done a lot with in as short span of time to satisfy their employees but
satisfaction is something which can never be 100%. But on an overall rating it was found that
rate of job satisfaction is around more than 65%.

53
 LIMITATIONS

 The survey is subjected to the bias and prejudices of the respondents. Hence 100%
accuracy can’t be assured.

 The researcher was carried out in a short span of time, where in the researcher could not
widen the study.

 The study could not be generalized due to the fact that the sample size is very small.

54
 BIBLIOGRAPHY

BIBLIOGRAPHY

BOOK PREFERED

1. Aswathappa, K., 2007 “Human Resource Management”, Mc Graw Hill, Himalaya

Publishing House. Sixth edition.

2. Rao, P. S., 2010 “Essentials of Human Resource Management & Industrial Relations”,
Himalaya Publishing House. Third edition.

55
 3. Rao, P. S., 2012, “Personnel and Human Resource Management”, Himalaya Publishing
House. Second edition

WEBSITES:
www.google.com.

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