271

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

272

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

273

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

274

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

275

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.

276

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

277

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,

278

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

279

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

280

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.

281

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

282

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

283

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

284

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

285

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

286

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,

287

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.

288

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.

289

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.

290

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.