Shafiq Job Stress in Organization at State Bank of Pakistan

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Job Stress in Organization in State Bank of Pakistan

Project Report

On

Job Stress in Organization Emphasis onEmployees at State Bank of Pakistan (SBP)

Submitted by:

Muhammad Shafique

Submitted on:06-03-2012

London Waltham College | Muhammad Shafique 1




Table of contents

Title Page#

Abstract 3

Introduction1-1. Background of the study1-2. Introduction of the SBP1-3. Problem statement1-4. Research Objectives1-5. Significance of the research

4--5

Literature review2-1. Introduction2-2. Stress

2-3. Occupational stress2-4. Factors of stress2-5. Effects of job stress2-6. Stress in Banks

6--9

Research Methodology3-1. Research design &

methodology3-1.1. Scope3-1.2. Sampling

3-2. Data collection & analysis

10—11

Findings and Analysis 12--15

Conclusion 16

Recommendations 17

References 18

Abstract





Bankers are under a great deal of stress and due to many past history of stress such

as Overload, Role ambiguity, Role conflict, Responsibility for others, Lack of

feedback, Keeping up with rapid technological change.

During the past decade, banking sector had undergone rapid and striking changes

like policy changes due to globalization and liberalization, increased competition due

to entrance of more private corporate sector bank, downsizing, introduction of new

technologies etc. due to these changes the employees in banking are experiencing

high level of stress. One of the final outcome stresses is job performance.

The main purpose of the research is to find whether the employees feel work-stress

under the working conditions of State Bank of Pakistan? If there exists job stress,

than to which extent? The basic objective is to understand job stress and its nature,

causes symptoms of stress in SBP.

This study examines the relationship between job stress and job performance on

bank employees of banking sector. This research is basically exploratory and

qualitative in nature.





Introduction

1-1. Background of the Study:

The nature of work has gone through huge changes over the last centuries and is

still changing at a rapid speed. They have touched almost every profession.

With the change comes stress. Job stresses in the life of workers, affects health

of organization.

The main reason for conducting this research is to find stress and to identify all

common factors which may leads to employee work stress. Our area of

concern is the State Bank of Pakistan (SBP).

1-2. Introduction of the state bank of Pakistan:

In May, 1948 Muhammad Ali Jinnah (Founder of Pakistan) took steps to establish

the State Bank of Pakistan. These steps implemented in June 1948, and the State

Bank of Pakistan commenced operation on July 1, 1948. The State Bank of Pakistan’

mission is to promote monetary and financial stability and promote a sound and

dynamic financial system, so as to achieve sustained and equitable economic growth

and prosperity in Pakistan. Its primary functions include issue of notes, regulation of

the financial system, lender of the last resort, and conduct of monetary policy. SBP

secondary functions include the management of public debt, management of foreign

exchange, advising the Government on policy matters, anchoring payments system,

and maintaining close relationships with international financial institutions.

1-3. Problem Statement


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

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




Job stress is a common work-place problem experienced by all professionals

irrespective of their nature of work.

As part of this study, we want to study the main factors associated to job stress in

State Bank of Pakistan. In this study we want to address:

Do the employees feel work-stress under the working conditions of SBP?

If there is job stress exists, than to which extent?

• There may be various causes of job stress

1-4. Research Objectives

The purpose of this research study is to test the association of the independent

variables (role conflict, role overload, role ambiguity, interpersonal conflict,

career development, physical working condition) with the dependent variable

that is stress.

The basic questions we want to investigate in this research study are as follows:

To analyzes different causes of stress in SBP.

To observes or identify different symptoms of work stress in SBP.

To evaluates the impact of stress on occupational performance.

The basic objective is to understand the job stress and its nature.

Understand theoretical view point of stress.

How it has affected employees in SBP.

1-5. Significance of the this research

• This paper will certainly add value to the existing knowledge base and

simultaneously give us ability and motivation to indulge in further advance

researches in the field of management sciences.

• This study will help the managers to understand their workforce.





LITERATURE REVIEW

2-1. Introduction

In today's world probability are that our environment is probably fast-paced (at least

more so than it has previously been) and as such stress is an ever-present

opportunity just waiting around the corner. No matter to which occupation we belong

to, the advancement in new technology has resulted in a hectic situation.

2-2. Stress

Stress is a growing organizational problem in the current society. Competing with

stressful situations in the workplace is a common incidence for all employees mainly

in a service industry. Hans Selye was one of the fathers of stress research. His

vision was that stress is not essentially something bad – it all depends on how you

take it. The stress of exciting, creative successful work is useful, while that of failure,

shame or infection is harmful. Selye believed that the effects of stress would bepracticed irrespective of the situation positive or negative. A great deal of further

research has been conducted, and views have moved on. Stress is now viewed as a

"bad thing", with a range of harmful l and long-term effects. These effects have

seldom been found in positive situations.

2-3. Organizational Stress

Stress at work is a moderately new phenomenon of present lifestyles. The nature of

work has gone through strong changes over the last century and it is still changing at

rapidly speed they have touched almost all professions. Occupational stress or job

stress poses a threat to physical health. Working at job related stress in the life of

organized workers, as a result, affects the health of organizations. (Sanyo Moosa,

2009)

Stress exists in every organization either big or small the work places and

organizations have become so much complex due to which it exists, work place





stress has significant effects over the employees job performance, (R. Anderson,

2003)

At work place stress is becoming a major anxiety for employers, managers and

government agencies, owing to the Occupational Health and Safety legislationsrequiring employers to practice ‘duty of care’ by providing employees with safe

working environments which also cover the psychological wellbeing of their staff.

(Lisa, 2010)

2-4. Factors of Stress

Job stress results from the poor interaction of the worker & the conditions of work

and Differences in individual characteristics such as personality and cope certain job

conditions. A person's position in the workplace can also affect levels of stress. While

place of work stress has the potential to affect employees of all categories; those

who have very little influence to those who make major decisions for the company.

However, less powerful employees are more likely to

Economic factors that employees are facing to increased stress levels. (Primm,

2005), economic factors that may lead to workplace stress are the following:

• Stress from investors, who can quickly take out their money from company

stocks.

• The lack of employment and professional unions in the workplace.

Each profession has its own unique factors that may cause stress; causes of many

other professions are giving below:

• Increased workload

• Organizational changes

• High demands

• Lack of support

• Personal and family issues

• Poor work organization

• Lack of training





• Long or difficult hours

• Inadequate staff numbers and resources

• Poor management communication

• Lack of control or input

2-5. Effects of Job Stress

Occupational stress may produce both psychological and physiologic disorders. It

can affect personal well-being and productivity (Quick et al, 1992).

Occupational stress may result into health problem and it can be a major reason for

the economic loss. It may be cause psychological as well as physiological disabilities

(Sandeep Kumar Lath)

There may be different effects of stress. Stress can be both positive and negative. It

depends on the individual that how do he/she react to the situation. The positive

stress can help you to energize in order to get your goals on time. Stress can bebeneficial to you if you do not take it on your nerves. (Jeff foster, 2010)

The negative outcomes of stress have been recognized as financially costly.

Negative outcomes of job stress among individuals include illness, decline in overall

quality of work, job dissatisfaction, bunking off, and staff turnover (Schwab). Tension

is created when the demands of the job or the job situation exceeds the capacity of

the person to respond successfully. (M.A Khan et al ), (2007)

2-6. Stress in Banks

The advent of technological changes has changed the working style of the bank

employees. Globalization and privatization has led the banking sector to modify their

policies in order to cope with the environment. (Jeff foster, 2010)





Many people working in banking and finance sector believe that stress is a powerful

instrument for their work and over and over again take steps to control it when they

feel the effects of overload stress. At place of work stress is the harmful physical and

emotional reaction that occurs when there is a poor match between job demands

and the capabilities, resources, or needs of the worker. (Larson et al )

The banking sector has improved a lot with the changing environment. The working

conditions of banks have changed a lot due to privatization, globalization and

atomization. The workload of employees has greater than before and due to this

increased work pressure the employees feel themselves under job-stress.

(Michailidis M, Georgiou Y),


http://www.ncbi.nlm.nih.gov/pubmed?term=%22Michailidis%20M%22%5BAuthor%5D

http://www.ncbi.nlm.nih.gov/pubmed?term=%22Georgiou%20Y%22%5BAuthor%5D

http://www.ncbi.nlm.nih.gov/pubmed?term=%22Michailidis%20M%22%5BAuthor%5D

http://www.ncbi.nlm.nih.gov/pubmed?term=%22Georgiou%20Y%22%5BAuthor%5D




RESEARCH METHODOLOGY

3-1. Research Design and Methodology

It would be an exploratory, qualitative and quantitative research and we will use both

the quantitative and qualitative approach to analyze data and find out the association

/ relationship between stress and the factors affecting it.

3-1.1 Scope

The scope of this study needs to be defined in two horizons.

Geographic: The scope of this research would be limited to Head-office of SBP

(Karachi).

Time horizon: this study will take about duration of 8 months from April 2010 to

November 2010.

3-1.2 Sampling

• Total population of the employees at SBP is 2200 employees.

• A total of 60 employees out of which 15 employees will be from top

management, 15 employees will be selected from middle management and 30

employees will be selected from lower level.

• The sampling method will be probability sampling that is based on random

selection of employees.





3-2. Data Collection and Analysis

The questions will be Structured and close-ended type and respondents will be

asked to mark the appropriate box matching the correct answer.

Descriptive statistics and inferential statistics, both the techniques would be used to

analyze, interpret and represent the data.

The responses to the structured close-ended questions will be rated and presented

through graphs, charts etc. MS Excel will also be used in the research.





FINDINGS AND ANALYSIS

1. How often do you feel that your workload is too heavy and that you could

not possibly finish during the ordinary workday?

Scale Rating 1 2 3 4 5

Employee # 5 23 30 2 0

The above sub divided bar chart shows that 5 out of 60 means that 8% employee feel that

never their workload is too heavy and that that could not possibly finish during the ordinary

workday. Whereas 23 means 38.3% employee seldom feel, that workload is too heavy and

that they could not possibly finish during the ordinary workday. 30 means 50% employees

feel that sometimes workload is too heavy and that they could not possibly finish during the

ordinary workday. 2 out of 60 means 3.3% feel that often workload is too heavy and that you

could not possibly finish during the ordinary workday. In addition, none of the employee saidthat they the entire time feel that your workload is too heavy and that you could not possibly





finish during the ordinary workday. It means that mostly of the employees sometimes think

that workload is too heavy and that they could not possibly finish during the ordinary

workday.

2. How often do you feel that you will not be able to satisfy the conflicting

demands of various people around you?


Employee # 2 26 22 10 0

The above sub dividend bar chart shows that 2 out of 60 means that 3.3% employee never feel that

they will not be able to satisfy the conflicting demands of various people around them. Whereas 26

means 43.3% employee seldom feel that they will not be able to satisfy the conflicting demands of

various people around them. 22 means 36.6% or 37% employees feel that sometimes that will not be

able to satisfy the conflicting demands of various people around them. 10 out of 60 means 16.6% or

17% often feel that they will not be able to satisfy the conflicting demands of various people around

you them In addition, none of the employee said that they all the time feel that they will not be able to

satisfy the conflicting demands of various people around them. It means that mostly infrequently the

employees feel that you will not be able to satisfy the conflicting demands of various people around

them.





3. How often do you feel that the job causes you the physical disorders? (Like

headache backache & anxiety….etc.)


Employee # 6 25 19 10 0

The above sub divided bar chart shows that 6 out of 60 mean that 10% employee never feel

that the job causes them the physical disorders (like headache, backache, anxiety….etc).

Whereas 25 means 42% employees seldom worry feel that the job causes them the physical

disorders (like headache, backache, anxiety….etc). 19 means 32% employees sometimes

feel that the job causes them the physical disorders (like headache, backache,anxiety….etc). 10 out of 60 means 16% often worry feel that the job causes them the

physical disorders (like headache, backache, anxiety….etc).In addition, none of the

employee said that they feel that the job causes them the physical disorders (like headache,

backache, anxiety….etc).It means that most employee does not frequently feel that the job

causes them the physical disorders (like headache, backache, anxiety….etc).





4. How often do you think the amount of salary you are getting is not

satisfactory?


Employee # 5 20 24 11 0

The above sub divided bar chart shows that 5 out of 60 means that 8% employee never think

that the amount of salary they are getting is not satisfactory. Whereas 20 means 33%

employee seldom think that the amount of salary they are getting is not satisfactory. 24

means 40% employees sometimes worry think that the amount of salary they are getting is

not satisfactory. 11 out of 60 means 19% often think that the amount of salary they are

getting is not satisfactory. In addition, none of the employee said that they think that the

amount of salary they are getting is not satisfactory. It means that most employee frequently

think that the amount of salary they are getting is satisfactory.





CONCLUSION

The productivity of banks depends on the employees of the organization. The

psychologically healthy employees lead to the progress of the organization.

Organizational stress and the workplace health have been the issue of major

concerns over last decade.

The purpose of this research was to identify the existence of stress among the

employees of State Bank of Pakistan. Stress level is very low among employees in

the State Bank of Pakistan in terms of our scale of measurement.

The literature reviews helped to identify some major factors that can help to know

whether the employees at the State Bank of Pakistan feel stress or not. The

employees at the State Bank of Pakistan are clear about their responsibilities and job

duties.

Workload can be one of the reasons for the workplace stress. The employees at

State Bank of Pakistan seldom feel workload when they find an ordinary work day

not enough to complete their heavy tasks.

The employees at State Bank of Pakistan are satisfied with the workplace

environment of the bank. Dangerous and unwelcome environments can place

pressure on workers and increase work stress.

The employees at the State Bank of Pakistan are satisfied with the salary they are

getting. Salary stress can make any one loose sleep, be restless and make anyone

very unhappy person. That’s why salary should be satisfactory.

Job satisfaction is the key element for a successful employee performance. The

employees of State Bank of Pakistan are satisfied with their job performance. This

shows that the management of State Bank of Pakistan is effective in managing its

employee's performance.





RECOMMENDATIONS

As the conclusion suggested that the employees in the State Bank of Pakistan do notfeel any major sort of work stress. We recommend that that the management of

State Bank of Pakistan should continue their stress management practices as they

have been doing it. The management of State Bank of Pakistan should take active

part in making stress management training programs for their employees.

On behalf of this research, we will recommend other organizations as well to reduce

the workplace stress of employees and should organize stress management

programs for the employees. The management should:

• Undertake stress audit at all levels in the organization to identify stress area

improving conditions of job and alleviating job stress.

• Encourage open channel of communication to deal work related stress.

• Formulate individual stress alleviation program.

•

Give attractive system of reward and recognition of good work.• Encourage the cross-functional and interdepartmental work arrangements to

reduce work related stress among low performers and low achievers.





REFERENCE LIST

• Aldag R.J., Barr S.H., and Brief A.P. (1981) Measurement of perceived task

characteristics. Psychological Bulletin, 90:415-431.

• Jan Schuijer. (1992) 'banks under stress', OECD Observer, Vol. a, 1992.

Questia [online]. Available at: http://www.questia.com/google.scholar (accessed:

10 April, 2010)

• Jeff Foster (26 Feb, 2010) Stress in the Workplace. Available at:

http://EzineArticles.com/?expert=Jeff_Foster (accessed: 10th

April 2010)

• Ahmed, S. Nurala, B.S. (1985). "A Study of Stress among executives."

Journal of personality and clinical studies,Vol.1, No (2), pp.47-50.

• http://www.sbp.org.pk/

• http://www.stress.org/job.htm

• http://helpguide.org/mental/work_stress_management.htm


http://www.questia.com/google.scholar

http://ezinearticles.com/?expert=Jeff_Foster


http://www.sbp.org.pk/

http://www.stress.org/job.htm

http://helpguide.org/mental/work_stress_management.htm

http://www.questia.com/google.scholar



http://www.sbp.org.pk/

http://www.stress.org/job.htm

http://helpguide.org/mental/work_stress_management.htm




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Shafiq Job Stress in Organization at State Bank of Pakistan