Job Satisfaction Of Employees

Published Date: 02 Nov 2017

INTRODUCTION AND DESIGN OF RESEARCH:

Job satisfaction one of the most crucial but controversial issues in industrial psychology and behavioral management in organization. It eventually decides the extent of employee motivation through the development of organizational climate of environment

MEANING

The term "Job Satisfaction" refers to an employee’s general attitude towards his job. Locke describes the job satisfaction as a Pleasurable or constructive emotional condition resulting from the assessment of one’s job or job experience, and to the size that a person’s occupation fulfils need and expectations.

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

CONCEPTS OF JOB SATISFACTION

There are so many definitions regarding job satisfaction. It is also a fact that job satisfaction is nothing but the favorable attitude or high industrial morale. But job satisfaction" is an elaborate composite concept including individual’s mental disposition, interpersonal relations that exists in the industry. It may be distinct as the satisfaction where in one derives from doing his which is the composite product of favorable attitude, high level morale and the positive job related and even social factors.

Employee satisfaction is essential to the success of any business. A high price of employee contentedness is directly related to a lower turnover rate. Thus, keeping employees’ satisfied with their careers should be a major priority for every employer. While this is a sound known fact in management practices, economic depressions like the current one seem to cause employers to ignore it

http://www.eurofound.europa.eu/ewco/reports/TN0608TR01/TN0608TR01_5.htm

PROCESS OF JOB SATISFACTION

Every human being has his own needs and desires of them, some are conscious and some are unconscious. These needs become burly in the individual and create tension, which stimulate a behavior towards fulfilling those needs. But all needs never completely of permanently satisfied entertains extraordinary high hope and needs which are beyond his capacity to fulfill.

STATEMENT OF THE PROBLEM

Employees play are important role, so employee’s agreement is a very essential one, hence there arises a need to study the job satisfaction of Barclays employees

WHY THIS TOPIC SELECTED?

The modern school of management laid its stress on the need for human resource management and human resource development as it is the fulcrum of management. Every organization is giving impotence to make their employees satisfied and ultimately this factor increase the productivity of any Business. Hence I choose the topic job satisfaction in Barclays as my project work

Job satisfaction is in a way of feeling of fulfillment that one gets on performing or doing one’s job. Some of the causes, which influence job satisfaction, are:

Specific work environment.

Specific individual targets.

Capacity of an individual.

Targets or other sorts of yardstick to measure one’s performance.

Compensation package.

This also has relevant to the cultural economical, ecological environment. It won’t be extravagant to state that a sound and successful management is the result of job satisfaction of the cross section of its employees.

Eventually management procedure should be in consonance with deriving maximum job satisfaction.

AIM OF STUDY:

This project aims on eliciting the job satisfaction of the employees of Barclays for this purpose a unit was chosen by the organization and the study was confined in that unit of Barclays. In these unit 40 employees has been chosen randomly by random sampling method.

The data have been collected through questionnaire and analyzed by constructing tables and diagrams. The questionnaire was carefully prepared to evaluate the skills, communication level and rewards gained by the employee, which would guide them to get complete job satisfaction.

OBJECTIVES OF THE STUDY:

The traditional word was attitude, and an employer who desired to hear from employees conducted an employee attitude survey. In these times, the word outlook has acquired negative connotations, and it now seems imprudent to suggest that our employees might have "an attitude". Another popular alternative is opinion, which seems harmlessly precise, but we still favor satisfaction. You are perhaps concerned that your customers should be satisfied with the goods or services you deliver. You should be. You possibly expect your employees to be concerned about customer satisfaction too

To study the employees job satisfaction level in Barclays.

To study the employee’s insight towards organization

To study the approach of employees towards their Work

To identify the issues that motivates the employees

SCOPE OF THE STUDY:

Job Satisfaction is an imperative output that employees work for organization

It covers extrinsic and intrinsic factors and helps an organization to maintain willing and able workforces

It is an interesting and important area for conducting research

The study made on the theme of Job Satisfaction it will disclose the issues that what the employees feel

This report plays an important rile for the organization to understand the satisfaction levels of their employees and what sort of measure they take to increase the productivity

Management students can also get the benefit from this study for reading, and preparing a valuable report on the job satisfaction.

COMPANY (BARCLAY’S) PROFILE:

Barclays is a universal financial services dealer connected in retail banking, recognition cards, complete banking, asset banking, management and investment organization services. The Company’s purposes include its abroad offices, subsidiary and connections. The Company operates in 8 sections: UK Retail and commerce Banking, Europe Retail and Business Banking (Europe RBB), Africa Retail and Business Banking (Africa RBB), Barclay certificate, Barclay’s savings Bank, Barclays commercial Banking, capital and Investment organization, and Main place of work and Other processes. In April 2012, its investment bank division is combining its corporate finance and merger and gaining groups.

http://www.hoovers.com

Barclays Bank operates, operation in secure joint venture with the industry, their HR team has an essential responsibility to play. Looking for selecting and preserving these individuals, they make sure we can give in opposition to our industry scheme.

Performance from the spirit of superiority, with teams of frontage and back-office professionals and Industry Partners, our HR task develops desirability, teaching and succession-planning schemes that provide us for individual and industry victory.

Human resource management is the major source in all management functions. For any company the HRM is necessary to develop their company goals.

http://www.powerfulwords.co.uk

BARCLAYS HR STRATEGY

To ensure that our people programmed are aligned with the Barclays Commercial Bank business strategy, and thereby deliver the best solutions to our customers while helping us to meet and exceed our financial targets.

To train and retain, as well as acquiring the best talent in the market. For example, we're launching a programmed aimed at our top performers for developing the leaders of tomorrow who will take our business to the next level.

To make Barclays the employer of choice for people in the industry and ensure those already with us will have no intention of leaving. Examples of where we're step up our game are the increasing numbers of graduates we recruit and the implementation of talent programmed across all business areas.

http://www.powerfulwords.co.uk

STRENGTH

1. Different Business units like wealth management, sell banking

2. It launch its website in 1995, and was the first bank to do so

3. Large network

4. Good brand visibility

4. No of employees are 145,000

5. Operates in over 50 countries

WEAKNESS

Involve in some cases like recent economic crises in UK, support of government in Zimbabwe, Involvement by means of South Africa under apartheid

OPPORTUNITIES

1.  Growth and expansion opportunities in emerging economies

2.  Investment options

THREATS

1.  Stringent economic policies world over

2.  Highly competitive environment

REVIEW OF LITERATURE:

Article defines the job and life satisfaction which are explaining the function of job and life satisfaction. One common research is that job satisfaction is linked with life satisfaction (Rain, 1991). This is a relation, means people who are satisfied with their job are also satisfied with life Job and life satisfaction relationship of personnel show the direction of their job and life satisfaction’s relationship. Iris and Barrett (1972), London et al. (1977), Chacko (1983). Job satisfaction can effects, life satisfaction starting from the assumption that the attitudes towards job are the major factors determining the non-job behavior .Chacko (1983) and Chisholm (1978). According to Orpen (1978), starting from these two basic assumptions, it can be claimed that this relationship can be reversed. But in 1978 it is found that job satisfaction is more effective on the life satisfaction. Orpen (1978), According to Blood and Hulin (1967) and Hulin (1969) he founded that life satisfaction affects job satisfaction more. Here are three different views, about job satisfaction and life satisfaction that is job satisfaction increases life satisfaction (scattering effect), job satisfaction diminishes life satisfaction (removal effect) and there are no relationships among these two variables (separation).

For this purpose, a group of researchers is working try to explain these different results related with the management level, gender, marital status, age, education and income level. Scattering, removal and separation models cannot be generalized, but the different models can be authentic for every individual. Judge and Watanable (1994). If we measure today's requirements, individualism can be experienced more. These individualisms structured are not just based on skills and abilities, but also on new values such as income level, social status and life standard. Similarly, Importance of job and business in human’s life cannot be described because of the need for job and business, and the necessity for human to be work. Job satisfaction can be defined as enjoying working in the business.

When we focus on subject of job satisfaction, five sub dimensions can be generally defined. These are gross, quality of the job work, working conditions of the individual employee, management policies, strategy and working trends (Luthans, 1992: 126). The wage is taken as on a huge level, while other factors are taken as on the low level. It is important for the individuals to find their job environment comfortable, the jobs are purposeful and even find themselves to be developing and progressing. This situation defines individual employee like their own lives and makes them happy similarly, the individual employees finding their jobs meaningful take more satisfaction from their lives. Fulfilling the individual expectations from their jobs is a factor affecting the individuals' job satisfaction positively. If the expectations cannot be fulfilling, the life satisfaction can be affected negatively.

http://www.forbes.com/fdc/welcome_mjx.shtml

THEORIES OF JOB SATISFACTION

MASLOWS’ THEORY

According to this theory, there is sequence of five needs they are.

1. Physiological

2. Safety.

3. Social

4. Esteem

5. Self-actualization

http://www.studymode.com

HERZBERG’S TWO FACTOR THEORY

In 1950, Herzberg conducted a study with 200 engineers and accountants employed in a firm. He inquired people to describe, in detail, states in which they felt exceptionally good or bad about their jobs. This reaction was then tabulated and categorized. From the classified responses, Herzberg closed a theory. In this theory, Herzberg splits the factor contributing to job satisfaction in to two sets, one called inherent factors and other called as extrinsic factor.

Intrinsic factors are related to job satisfaction, while extrinsic factors are linked with job dissatisfaction. Intrinsic factors such as the task itself, responsibility and the triumph seem to be related to job satisfaction. External factors such as supervision, pay, policies and working conditions, seem to be transmitted to job dissatisfaction.

According to Herzberg, the factors leading to job satisfactions are separate and distinct from those that lead to job dissatisfaction. As a result, states surrounding the job such as quality of supervision, pay, company policy, physical working condition, relationship with others and job safety were characterized by Herzberg as "Hygiene issues". When these issues are adequate, people will not be disgruntled. Those factors, which are causative to job satisfaction, are also called as the Motivation Issues. Finally, Herzberg suggested that the opposite of "Satisfaction" is "No satisfaction" and reverse of "Dissatisfaction" is "No dissatisfaction"

http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA033814

THE IMPACT OF JOB SATISFACTION OF EMPLOYEES

PERFORMANCE

The following are the result of job satisfaction on employee performance.

They are

• High Productivity

• Turn Over

• Less Absenteeism

SATISFACTION AND PRODUCTIVITY:

Historically, the concept of human relations assumed that high job satisfaction leads to high productivity but later research indicated that it was an incorrect perception.

CORNELL in his studies said" A satisfied worker is a creative employee" Out of this study, he concludes that if there is needs of the worker like pay, promotion etc, are satisfied in the over said job, he will be a productive worker. He will be motivated to work out of his needs are satisfies and production would be increased. Lawrence and Porter have developed a model suggesting that "Productivity leads to job satisfaction".

COMPONENTS OF JOB SATISFACTION

The individual variables are occupational level, job contents, considerate leadership, pay, promotional opportunities, and interaction and occupation group. The personal variables are age, educational level, sex, and family size and service with the company. The following are some of the job factor that is taken into consideration in developing job satisfaction job satisfaction scales. There are 3 types of job factors which include:

Personal factors

Factors inherent in the job

Factors controllable by management

PERSONAL FACTORS

• AGE: There is some evidence indicating increases job satisfaction with increased employee’s age. This relationship has been attributed to a combination of factors including the termination of employment by dissatisfied older personnel and a kind of conservation are resignation with advancing age to the realities of life and job.

• EDUCATION: There is a great deal of conflicting evidence on the relationship between education and job satisfaction.

FACTORS INHERENT IN THE JOB:

• TYPE OF WORK: The type of work is most important factor inherent in the job. Some studies have shown that people will be more satisfied with the job involving changes than involving routine monotonous work

• SKILL: Skill is one or the major determinants of job satisfaction. As a determinant it cannot be operated alone. It can be functioned together with the kind of work, occupational status, responsible, personal characteristics, and opportunities to use the skill.

• OCCUPATIONAL STATUS: Occupational status is usually found to arrange themselves in hierarchy according to their relative status, prestige or values to the particular society. Occupational rank and job satisfaction are related together but not identical with each other.

• SIZE: Size of the organization does not independently affect the employees. It affects their along with the management practices and various other factor. Thus, a small organization cannot attain effectiveness by being small one.

FACTORS CONTROLLABLE BY MANAGEMENT:

• SECURITY: Security can be provided by the organization to the employee. It is positive when the employee feels that he has reasonable chances of working under the condition of company stability.

• PRODUCTION INCENTIVES: To get the incentives, the employee must be skilled person. Higher the creative skills, higher the incentives

• WORK ENVIORNMENT: The condition under which a person works is considered as the working conditions. For an employee, the working state must be safe and secure and pleasant.

• SALARY: Salary is defined as the wages given to the employees for their work. It is common to all the people in the organization

• PERSONNEL POLICY: A policy is predetermined and accepted course of thought and action that is define and establish as a guide towards accepted goals and objectives.

• COMMUNICATION: The communication will be effective and perfect only if the listener understood the message communicated by the speaker exactly.

GRIEVANCE can be caused due to difference of opinion; status of union, working condition, doubts and fears etc., grievance process is the formal method of dealing with grievance. There are 2 types of grievance procedure

http://news.thomasnet.com

RESEARCH METHODOLOGY

The research done is a descriptive study involving survey and fact finding enquiry. The major purpose of the study is description of the state of affairs as it exists in the present organization, Barclays. In this project I have done a quantitative research just by the purpose of investigation about the job satisfaction of the staff of Barclays. I have done this research through survey; I have distributed the questionnaires in Barclay’s unit and get them filled by the staff. The population of this study was officers and workers. I have collected data from 40 people.

A systematic study with structured and specified steps in specified sequence was designed and is as follows:

Step1: The objective is particular with sufficient precision to ensure that data collected is relevant.

Step2: The data collection method to be used is questionnaires, interviews and remarks. While designing data collection procedure, tolerable safeguards against bias and unreliability are ensured

Step3: The questions are arranged in a clear, understandable manner.

Step4: The sampling design used is stratified Random Sampling. Under this sampling drawing, every item of the universe has an equal chance of inclusion in the sample.

For the data collection method, collection through questioner was adopted. Questioner was adopted from the authorized source which was specially prepared to measure the job satisfaction through different questions.

Five questions were of demographic. In these I have asked the name, their age, gender, occupation and income level. Some Questions were about the job satisfaction. These were to measure how much they are satisfied with their jobs or work. Including demographic questions it made a total of 16 questions in total.

SAMPLING TECHNIQUE

For the purpose of research study, the method of plain random sampling is undertaken so that the data can be directly driven from employees

DATA ANALYSIS AND INTERPRITATION:

Data analysis

Data is collect from Barclays .The population size is 40 in which 31are males and 9 are females. The most frequent age value is 28 in the data. Most of the people belongs the profession of Accounts.

Table # 1 (Employee job satisfaction at work)

Answers

No of Employees

Percentage

Yes

36

90

No

02

05

Cant Say

02

05

Total

40

100%

Analysis

Most of the employees are satisfied with their work. Only some are not satisfied. So it clearly shows that employees of Barclays are highly satisfied with their present job

Table # 2 (Factors that influence employee’s motivation)

Answers

No of Employees

Percentage

Good pay

21

52.5

Promotion

04

10

Less Supervision

05

12.5

Good Working

10

25

Total

40

100%

Analysis

Most of the employees are given priorities to pay. And the above table clearly shows that the Barclays employees are highly motivated by good pay for do their work

Table # 3 (Employee’s response to salary being offered at Barclays)

Answers

No of Employees

Percentage

Yes

34

85

No

03

7.5

No Comments

03

7.5

Total

40

100%

Analysis

Most of the employees are satisfied with Salary offering at Barclays. This clearly shows that Barclays is giving good salaries to their employees

Table # 4 (Other sources of Income of employees at Barclays)

Answers

No of Employees

Percentage

Yes

6

15

No

34

85

Can’t say

0

0

Total

40

100%

Analysis

Most of the employees at Barclays Salary dependent

Table # 5 (The way employees came to the present position)

Answers

No of Employees

Percentage

Promotion

18

45

Direct Appointment

21

52.5

Transfer

01

2.5

Total

40

100%

Analysis

Most of the employees are appointed directly. So this demonstrates that Most of the employees of Barclays are got in to present position through such appointment

Table # 6 (Employee’s satisfaction towards employment conditions)

Answers

No of Employees

Percentage

Yes

38

95

No

02

5

Total

40

100%

Analysis

Most of the employees are satisfied with Barclay’s infrastructure & motivation patterns

Table # 7 (The employee’s Satisfaction towards Transfer & Promotional Policies)

Answers

No of Employees

Percentage

Yes

37

92.5

No

03

7.5

Total

40

100%

Analysis

Most of the employees at Barclays are satisfied with their promotion & transfer policy

Table # 8 (Employee’s response towards physical working conditions)

Answers

No of Employees

Percentage

Yes

39

97.5

No

01

2.5

Total

40

100%

Analysis

Most of the employees are comfort with Barclay’s physical working conditions

Table # 9 (Employees response towards Working Hours)

Answers

No of Employees

Percentage

Yes

39

97.5

No

01

2.5

Total

40

100%

Analysis

The working hours in the Barclays is sufficient to do the work & most of the employees satisfied with working hours

Table # 10 (Employee’s satisfaction towards conflict resolution)

Answers

No of Employees

Percentage

Always

12

30

Quite Often

03

7.5

Sometimes

05

12.5

Rarely

06

15

Never

14

35

Total

40

100%

Analysis

Most of the employees are not at all satisfied with the conflict resolution procedures, and this shows that Most of the employees are unhappy with it at Barclays

Table # 11 (Employee’s satisfaction towards welfare measures)

Answers

No of Employees

Percentage

Medical

12

30

Compensation

03

7.5

Total

40

100%

Analysis

Maximum employees are not satisfied with the compensation for accidents but are willing for medical facilities at Barclays

Table # 12 (Employee’s satisfaction level towards extra mural activities)

Answers

No of Employees

Percentage

Educational

05

12.5

Transportation

08

20

Housing

27

67.5

Total

40

100%

Analysis

Most of the employees are not satisfied with the Educational facilities

Table # 13 (Employee’s satisfaction towards provision of bonus)

Answers

No of Employees

Percentage

Yes

37

92.5

No

03

7.5

Total

40

100%

Analysis

Most of the employees are satisfied with the provision of bonus

Table # 14 (Employee’s satisfaction level towards social security measures)

Answers

No of Employees

Percentage

Provident Fund

30

75

Pension

03

7.5

Gratuity

07

17.5

Total

40

100%

Analysis

Most of the employees are satisfied with social security measures

Table # 15 (Employees satisfaction level towards safety Measures)

Answers

No of Employees

Percentage

Satisfied

37

92.5

Not Satisfied

03

7.5

Total

40

100%

Analysis

Most of the employees are satisfied with safety measures

Table # 16 (Employee’s satisfaction intensity towards Overtime allowances)

Answers

No of Employees

Percentage

Satisfied

8

20

Not Satisfied

32

80

Total

40

100%

Analysis

Most of the employees are not satisfied with overtime allowances

Findings:

Majority of the employees are pleased with present job

Employees are satisfied with current pay system which is the key factor for the motivation of employees

Employees are pleased with Salary offerings at Barclays

Majority of the workers don’t have other source of income

Majority of the employees are laid by direct appointment at Barclays

Majority of employees are satisfied with service conditions prevailing in Barclays

Majority of workers are satisfied with Promotion and Transfer policy

Employees are satisfied with objective working conditions at Barclays

Employees have a Good chemistry among work groups i.e. among different classes of work designation

Employees are happy with working hours at Barclays

There are different opinions for resolving the conflict at Barclays and the survey shows the results which are greater in number towards dissatisfaction.

As part of Intra mural facility, they favor medical facility to accident compensation

Employees feel that they need housing accommodations more, than educational and transport facility

Most of the workers feel that salary is not enough and salary offerings play a key role in employee pleasure, in turn industrial growth

Suggestions:

If employees are paid the reasonable wages then it helps to improve their standard of living. And it is one of the most important factors that play an important role for an employee than any other. So, the organizations should pay an attention to provide adequate salary package to the workers.

If the planning is done systematically, it helps to reduces obstacles at working place and it guarantees even flow of working patterns. So, to attain the goals very effectively the planning should be done before and continually improved

The mutual cooperation between workers at the working area plays an important role to do work at accurate time. So the organizations should provide the facilities for inter department communication

Attractive schemes from Barclays would activate workers and increase individualistic work efficiency

Additional facilities are also play an important role for efficient labor

Overtime allowances are one of those factors for organizational which increase the value of that organization

7S frame is most expected rate of recurrence for an organization to be effective

Conclusion:

As the Findings and recommendations/suggestions are based on Analysis and are to be noticed and to take the right step in right direction for higher growth

From the analysis I conclude that the job provides the opportunity to the workers to exercise his/her skills at work place. Number of the workers accepted that at times there is a considerable flexibility in co-coordinating with work and they are satisfied with the existing inter personal communication. In Barclays they follow the methodical planning and review process to evaluate the performance of employee.

I have also observed from this study that an improvement scope is there for improving the working conditions in Barclays. By increasing the Salary package they can tramp with market rate.

Finally I would like to wrap up by this statement that the workers of Barclays are satisfied with their work and organization

Annexure:

SURVEY QUESTIONNAIRE ON JOB SATISFACTION OF EMPLOYEES

Name: Age:

Gender: M/F

Please Tick one option against each option

Income level:less than 15000 b) 15000 t0 25000 c) 25000 to 35000 d) more than 35000

JOB SATISFACTION SURVEY

I feel I am being paid a fair amount for the work I do.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am not satisfied with the benefits I receive

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

Those who do well on the job stand a fair chance of being promoted.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

There is really too little chance for promotion on my job.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

When I do a good job, I receive the recognition for it that I should receive.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about benefits given by organization.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

The goals of this organization are not clear to me.

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about transfer policies.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am excited about learning new things and developing my skills and talents.

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about working Hours.

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about working Conditions.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about conflict resolution in organization

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about welfare measures.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I am satisfied about safety measures.

Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I exercise appropriate control over the things that I can in my life.

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied

I enjoy overtime allowances.

a) Highly satisfied b) satisfied c) not satisfied d) dissatisfied e) highly dissatisfied