Chapter - I

INTRODUCTION

This chapter is introductory in nature. It presents the concept of motivation and job
satisfaction in State Bank of India (SBI) and Industrial Credit and Investment
Corporation of India (ICICI). This chapter presents the need, and the importance of the
study, the objectives, scope of the study, period of the study, methodology adopted
chapterisation and limitations of the study.

1.1 Introduction
In India the processes of liberalization and globalization have set in since the early 1990s.
During the last one and half decades the Indian economy witnessed rapid growth due to
the encouraging policy decisions and rising capital inflows. It also led to the usage of the
latest technology in communication, information, manufacturing and other sectors. This
has increased the need for knowledgeable and motivated workforce, as important drivers
for growth.

Motivation is based on growth needs. It is an integral engine which shows its effect on
the minds of individuals and the benefits it generates over a period of time. Motivation
represents those forces which act within people giving them a specific goal oriented
behavior. Since work motives affect the employees’ productivity, one of the
responsibilities of the management is to channelize employees’ motivation towards
achieving organizational goals

Motivation can be said to be the consequence of an interaction between the individual

and the situation. It has a tremendous impact on the performance of the employees.
External forces such as competition, rules and regulations and other environmental
factors impact organizational performance. Much of the managerial discourse asserts that
organizational goals are largely achieved through the effort of the employees. If they are
motivated to perform, organizations will not only achieve goals but also will be more
productive.

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The effective use of work practices such as employee recruitment and selection
procedures, incentives; compensation and performance management systems not only
increase employee involvement in work but also improve their knowledge, skill and
abilities. These act as motivators thereby reducing employee attrition and enhancing
retention of quality employees.

A comprehensive definition of motivation—“Motivation is a process which begins with a

physiological or psychological need or deficiency which triggers behaviour or a drive that
is aimed at a goal or an incentive.”--- Luthans (1989). As per the above definition there
are different types of motives.
 Primary Motives are physiologically oriented. Such motives are also termed as
biological, unlearned motives.
 Secondary Motives are more significant motives. These are essentially the learned
drives that become secondary motives.
 There is another category of motives which can neither be classified as primary
nor as secondary. These can be referred to as general motives. These motives are
unlearned but not physiologically oriented.

Motivation can work in two ways, internally and externally. When a person is self driven
he or she is said to be motivated internally. On the other hand, financial benefits, perks,
fame, bonus, responsibilities, fear and other external factors play an important role in
motivating people externally.

1.2. Motivation of employee’s

Increasing employee motivation, satisfaction and performance levels are key
organizational aspects nowadays. Motivating employees is a challenging task for
organizations. Motivation helps in increasing productivity and performance of employees
by understanding and satisfying their needs which in turn increases the goodwill of the
organization. The employees are the greatest assets of any organization and maintaining
good human resource policies has an important role in motivating the workforce to
deliver high levels of performance, discretionary effort and contribution.

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Motivation can be intrinsic or extrinsic. Intrinsic motivation can be described as the
process of motivation by the work itself in so far as it satisfies the personal needs of the
employee. Intrinsic motivation is self-generated and it is thought that people seek for a
job they think will most satisfy their needs. The factors affecting intrinsic motivation
include for example responsibility, freedom to act, courage to use and develop persons
own skills, interesting tasks and opportunities for advancement. Extrinsic motivation is
the amount of effort other people give to the person to motivate them. Extrinsic
motivation is for example the reward management provide such as pay rises, praise or
promotion. Extrinsic motivators are efficient but the influence doesn’t last long.

Intrinsic motivators tend to have a longer effect as they are inherent and not imposed
from outside. Armstrong (2004) as the needs of individuals differ a lot, it is important to
concentrate carefully on the attachment of goals and incentives given, when goals are
accomplished.

1.3. Job Satisfaction

Over the years, employee satisfaction has been a key area of research among industrial
and organizational psychologists. There are important reasons why organizations should
be concerned with employee job satisfaction, which can be classified according to the
focus on the employee or the organization. First, the human perspective is that people
deserve to be treated fairly and with respect. Job satisfaction is the reflection of a good
treatment. It also can be considered as an indicator of emotional well-being or
psychological health. Second, the utilitarian perspective is that job satisfaction can lead to
behavior by an employee that affects organizational functioning. Furthermore, job
satisfaction can be a reflection of organizational functioning.
The assessment of job satisfaction is a common activity in many organizations where
management feels that employee well-being is important Spector (1997). Some people
like to work and they find working an important part of their life. Some people on the
other hand find work unpleasant and work only because they have to. Job satisfaction
tells how much people like their jobs. Job satisfaction is the most studied field of
organizational behavior.

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It is important to know the level of satisfaction at work for many reasons and the results
of the job satisfaction studies affect both the workers and the organization. At the
workers’ point of view it is obvious that people like to be treated fairly. If workers feel
respected and satisfied at work it could be a reflection of a good treatment. In the
organization’s point of view good job satisfaction can lead to better performance of the
workers which affects the result of the company. Employee satisfaction is generally
considered as the driver of the employee retention and employee productivity. Satisfied
employees are a precondition for increasing productivity, responsiveness, quality, and
customer service Kaplan (1996).

The level of job satisfaction is affected by intrinsic and extrinsic motivating factors, the
quality of supervision, social relationships with the work group and the degree to which
individuals succeed or fail in their work. It is believed that the behavior that helps the
firm to be successful is most likely to happen when the employees are well motivated and
feel committed to the organization, and when the job gives them a high level of
satisfaction. The research showed that the key factors affecting job satisfaction are career
opportunities; job influence, teamwork and job challenge Armstrong (2006).

1.4. Need for the study

It is widely accepted by the organizational theorists that manpower is one of the most
important assets of an organization because things are getting done through employees.
In other words, the success of an organization in realizing its objectives heavily depends
on the performance of its employees. Therefore, it is important to focus on the factors
affecting the performance of the employees. Performance is considered to be related to
the concepts of ability, opportunity and motivation Ivancevich & Matteson (1997).
Ability is a function of skills, education, experience and training. Opportunity refers to
the infrastructure needed to perform a job. Finally, motivation is the desire to achieve a
goal and willingness to exert effort for it.

Motivation is something that can lead to better performance when other conditions are
met. It has an added advantage over others in the sense that while the opportunity and

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ability tend to be stable and difficult to change for the personnel, motivation has
flexibility, that is, it can be changed by some means. Moreover, it is apparent that in the
absence of willingness to perform; capacity and opportunity will not generate the desired
results. Motivation seems to be one of the most important tools of Human Resource
Management. Organizations design motivation systems to encourage employees to
perform in the most effective way but also to attract potential candidates. The key to
create the efficient motivation system is an answer to the question what really motivate
employees.

The importance of motivating people at work is noticeable at all levels of the

organization. Starting from managers who need to be aware of factors that motivate their
subordinates to make them perform well. It seems to be obvious that companies need
motivated employees and without any doubts motivation is an important aspect of Human
Resource Management. However, because of a complex nature of human behavior,
motivation is not easy to understand and to use.

Despite many studies on motivation, managers today are no closer to understanding

employees’ motivation than their counterparts more than a half of a century ago Kovach
(1980). Although, some of the research suggested that money is not as potent as it
seemed to be, many companies tried to implement monetary incentives as their main tool
to motivate employees. Performance related pay became the new mantra that was used
unquestionably by plenty of organizations Frey & Osterloch (2002). Recently, as a result
of a financial crisis, many large and small organizations had to cut costs through
reduction of employees’ salaries and bonuses. The question that has arisen is if there are
other options of motivating employees that would be equally effective but costs more
efficiently.

Money is not what makes the world go; the literature on motivation shows that there are
several other ways to motivate employees. The most well know and often cited theories
can be divided into two categories: content theories and process theories. The first group
is focused on what motivate people. It is represented by authors such as Maslow,

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McClelland and Herzberg who are known by almost everyone who ever read anything
about motivation. The second category – process theories, try to find out how motivation
occurs. Vroom, Adams, Locke and Latham created the most influential process theories.

The points of view presented by the authors of those theories in some aspects are
complementary but in others are totally opposite. That possibly was the reason for other
researchers’ inspiration to conduct own studies on motivation. It resulted in a number of
possible suggestions about motivators that could play a crucial role in increasing
employees’ performance. Some authors Oldham & Hackman (2010) indicate that job
design plays an important role in shaping employees' behavior while others Roche &
MacKinnon, 1970; Allender & Allender, 1998; Lu, 1999; Tharenou, 1993; Mayfield,
Mayfield, & Kopf (1998) suggest that leadership style and freedom given to employees
are crucial in motivating employees. Another group of researchers Luthans & Stajkovic
(2000) Armstrong & Murlis (2004) tries to prove that recognition can be used to motivate
people to perform well. In fact, there are many more examples of the possible motivators
in the literature on a subject of motivation. In this multitude of possible options it is not
easy to answer the question – what in fact motivates employees.

Motivation is the key to organizational effectiveness and is a predictor of performance

and job satisfaction. Although large scale complex organizations have existed for several
hundred years, managerial attention to the role of motivation in such organization is a
more recent phenomenon. It is the realization of personal need satisfaction. Man works
to satisfy his higher order needs and such needs are to be recognized, to be appreciated,
and to feel a sense of achievement in whatever he does.

In Indian organizations, Narain (1973) in a study of 1213 public sector managers found
that managers at all levels recognized security as the most important need to be satisfied
and satisfaction of ego and self actualization needs increased with higher levels of
managerial hierarchy. In another study on semi- government employees Saiyadain (1977)
found that satisfaction of social and security needs was equally emphasized by all levels
and as far as ego and self actualization is concerned the higher the level, the higher was

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their satisfaction. Prasad (1979) in a study of 400 workers found that Indian workers
irrespective of the level of skill generally attach more importance to good wages, job
security, promotion and growth and appreciation of the work.

Dayal and Saiyadain (1970) in a study on 40 personnel found that the factors contributing
to work satisfactorily in order of importance are: achieved recognition, work itself,
responsibility, interpersonal relationships, achievement and growth. The factors leading
to dissatisfactions are supervised, working conditions, company policies and
administration. Pestonjee and Basu (1972) conducted a study of 80 executives and found
that motivators (achievement, recognition, responsibility etc.) contributed significantly
more towards job satisfaction than hygiene (job) factors in the public sector. While in the
private sector, motivators contributed significantly towards the feeling of dissatisfaction.

Singh and Srivastava (1983) collected data on the need for achievement and job
satisfaction of 150 blue collar workers half low producing and other half high producing
on the basis of hours saved. Their results suggest a significant positive relationship
between satisfaction and productivity for high achievers than for low achievers.Various
studies have been conducted to ascertain the top five factors contributing to job
satisfaction of managers and supervisors Ganguli (1954) found adequate money,
promotional opportunity, job security and sympathetic treatment from boss as the most
important factors contributing to job satisfaction in a sample of first line supervisors.
Lahiri and Srivastva (1967) on a sample of 93 middle level managers found
responsibility, domestic life, accomplishment, job security and utilization of abilities on
the job as top five factors contributing to job satisfaction.

Sawlapurkar et.al. (1968) found job contents, opportunity for advancement, job security,
boss and company itself as the most important factors contributing to job satisfaction on a
sample of middle managers. Padki and Dolke (1970) on a sample of 150 supervisors
found recognition, achievement, salary, promotion and responsibility as the most
important factors contributing to job satisfaction. Bhattacharya (1972) on a sample of 210
managers found feeling of doing a worthwhile job, obtaining cooperation from people,

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matching ability with a job and recognition outside the company as the most important
factors contributing to job satisfaction.

Singhal and Upadhya (1972) found an opportunity for promotion, job security, working
condition, work group and opportunity for growth use of abilities, responsibility, home
life, recognition and working conditions as the most important factors contributing to job
satisfaction of supervisors. Kumar, Singh and Verma (1981) on a sample of 117
supervisors considered use of abilities, responsibility, home life, recognition and working
conditions as the most important factors contributing to job satisfaction. Pareek and
Keshato (1981) found nature of work, adequate earning, responsibility, independence,
respect and recognition and achievement as the most important factors contributing to job
satisfaction of middle managers. Lal and Bhardwaj (1981) found relationships with
coworkers, responsibility, relation with supervisor, supervisor’s help in the work; the
work itself as the most important factors contributing to job satisfaction of supervisors.
Joshi and Sharma (1997) found job contents, training, participative management,
communication and advancement as the most important factors contributing to job
satisfaction of 125 managers.

A number of studies have been conducted to find out the factors contributing to job
satisfaction of workers and researchers found earnings, job security, free medical aid,
sympathetic supervisor, leave with more way, opportunity for advancement, suitable
work according to health, comfortable working conditions, adequate personal benefits,
good personal relations with colleagues and supervisors, recognition, achievement, and
promotion as important factors (Bose, 1951; Ganguli, 1954; Ganguly, 1958; Singh &
Wherry, 1963; Lahiri & Choudhari, 1966; Kapoor, 1967; Vaid, 1968; Desai, 1968;
Mukherjee, 1968; Rao & Ganguli, 1971; Lal & Bhardwaj, 1981; Prakasam, 1982; Misra,
1983; Nazir, 1998). Hence an attempt has been made to study what factors contribute to
the employee motivation and job satisfaction in bank employees.

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1.5. Motivation in Public and Private Sector Organizations
Today organizations are required to adapt to the latest technologies in order to sustain
competitive advantage. Economic, social, political and technological changes are the
inevitable challenges that organizations are facing Sydanmaanlakka (2002). Since
changes are taking place in the external business environment, it is mandatory for all
organizations to adapt to the important changes that can be sources of motivation for
competitive advantage. All changes have a direct motivation influence on the
organization as well as on employees.

Organizations, whether public or private, need motivated employees to be effective and

efficient in their functioning, in addition to the other factors. Employees who are
motivated to work energetically and creatively towards the accomplishment of
organizational goals are one of the most important inputs to organizational success.
Consequently, the challenge for organizations is to ensure that their employees are highly
motivated. When the issue is motivation, one of the first things that come to one’s mind is
the concept of incentive, which refers to any means that makes an employee desire to do
better, try harder and expend more energy. With regard to monetary incentives, it can be
argued that private organizations have more financial sources to motivate their employees
than the public organizations. It is known that public employees’ payment levels are
generally low compared to private sector employees. Moreover, while many private
organizations have monetary incentives such as bonuses, commissions, cash rewards etc,
it is quite challenging for the public sector to provide such incentives in adequate levels
in a weak national economy. As a result, it is important to look for any possible
alternative means that can be used to motivate employees in the public sector.

1.6. Need for Motivation in Banking Sector

Banks play a role of considerable economic significance as intermediaries in mobilizing
public savings and channelizing the flow of funds for productive purposes, keeping with
the process of the economic growth of the country. Realizing the importance of the role
of the banks in economic development, Government of India/Reserve Bank of India took
several major initiatives after the country attained independence to gear the banking

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system to serve the national objective. One of the most momentous of such initiatives
was the substitution of public ownership by private ownership, through the medium of an
ordinance, of the 14 largest commercial banks in the private sector on 19 July 1969. This
has popularly come to be known as nationalization of these banks without which it would
not have been possible to transform the class banking into mass banking and align bank
credit to serve the planned priorities and social needs. Branch expansion programs
formulated by the Reserve Bank of India aimed at making available necessary banking
facilities in all parts of the country specially the unbanked rural and semi urban areas.
This was perceived as essential for implementation of project for rural development and
upliftment of economically weaker sections and also spreading the banking habit even in
the remote areas of the country.

The banking industry which is at the core of the financial sector must take the lead. The
reform process started in the 90’s has given the industry a great opportunity. Not only
must the sector become more efficient it must also identify sectors having growth
opportunities and devise strategies to move savings into these sectors.

1.6.1. Banking Services

The Indian banking industry is passing through a phase of the customers' market. The
customers have more choices in choosing their banks. A competition has been established
within the banks operating in India. The new age IT (Information Technology) is
bringing about sweeping changes in the banking industry, forcing them to re-engineer
many of their basic processes and systems. Few of the technology-driven electronic
banking services being offered are viz. Automated Teller Machines ATM, Electronic
Clearing Service (ECS), Electronic Funds Transfer (EFT), tele-banking, internet banking
etc. New technological capabilities could be effectively used to create value and to better
manage customer relationship. Reddy (2001) stated “Banks are at different stages of
technology adoption partly due to their different legacies, as much as the differences in
their strategic approaches to computational and technology absorption”.

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The foreign banks are ahead in offering better banking services and products, coupled
with smart use of IT adoption and have considerably achieved high operational efficiency
RBI (2001). The study found that there was an effective implementation of e-banking
services in case of private banks and foreign banks, whereas, nationalized banks were
found to have a lesser degree of computerization. Dr. Rangarajan, the former Deputy
Governor, Reserve Bank of India, expressed that “Indian banks have to conform to
international accounting standards, if Indian banks are to get their due place and
recognition in the global financial market”.

1.6.2. Banking Technology

Financial reforms had its impact on Indian banks and financial institutions. In the fast
changing financial environment, fierce competition and changes in the regulatory policies
created uncertainty and risk for the Indian banking industry. Realizing this fact,
academicians and practitioners highlighted in their studies that information source in
banks is of capital importance and they look at information technology as a strategic
response to changing financial environment/challenges.

The RBI Report (1991) was the first path breaking step in this direction, which
highlighted that computerization must be looked upon as a means to improve customer
service and efficiency and that the banks’ workforce should realize that mechanization
would lead to growth and employment expansion. Subsequently, the Narasimham
Committee (1992), while highlighting the problems faced by Indian public sector banks
and as an antidote to the identified lacunae, also stressed the need for a greater measure
of computerization in banks. The committee observed that modern banking involves a
great deal of processing of a mass of information and commitment to technology is the
only solution that ensures timeliness, accuracy and resultant improved performance and
enhanced customer service build. On similar lines, several academicians and practitioners
argued that technology in banks would help to increase the level of productivity and
customer satisfaction. To meet the challenges posed by the entry of foreign banks, Indian
banks will have to invest heavily in technology to meet competition, reduce costs,
improve customer service, improve productivity and offer new products/services.

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Technology in service organizations is important for success and success can be delivered
only by motivated and satisfied employees who compete to fulfill the requirements of the
banks.

1.6.3. Current Scenario

Currently, overall banking in India is considered as fairly mature in terms of supply,
product range and reaches even though reach in rural India still remains a challenge for
the private sector and foreign banks. Well- computerized foreign banks are beginning to
compete seriously with the nationalized banks. They aim at a profitable and wealthy part
of the market and, in contrast to the nationalized banks, do not recognize any social
responsibilities to small account holders or to a rural and semi urban clientele. Almost
80% of the businesses are still controlled by Public Sector Banks (PSBs). PSBs are still
dominating the commercial banking system. The bank system is facing the challenges
with stiff competition and advancement of technology; the services provided by banks
have become more easy and convenient. The competitive character has been promoted by
facilitating the entry of foreign banks. The country is flooded with foreign banks and
their ATM stations. Efforts are being put to give a satisfactory service to customers.
Phone banking and net banking are introduced. The entire system has become more
convenient and swift. Time is given more importance than money. 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 improve better performance.

The root of motivation to achieve the desired goal can vary from individual to individual.
For instance one employee may be motivated in his work to earn a higher commission,
whereas another employee may be motivated by the satisfaction it provides or by the
surrounding environment solely Tietjen & Myers (1998). The major factors of motivation
are one’s needs, rewards, wealth, determined goals, beliefs and dignity Vroom (1995).
Moreover, failure, achievement or else liability may motivate some employees to carry
out forceful devotion to their work.

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As these days banking sector is characterized by high competition, bank employees, on
behalf of their respective banks, are the best sources of delivering better services to their
customers. To sustain competition and in order to survive in the marketplace, employees
must be motivated and satisfied. In line with this purpose, there is a need to study the
factors which affect employee motivation and job satisfaction of SBI and ICICI bank
employees.

1.7. Importance of the study

Work motivation is one of the key areas of organizational psychology that significantly
influences the work behavior of the employees. It can be defined as a process to inspire
employees in achieving organizational objectives. The primary goal of every manager is
to get things done by way of encouraging the employees, for which he should be
motivating them. Motivation is the key to performance improvement. One should have
the encouragement to do something. Creating a motivating environment is a critical, risky
and essential task for every manager. It is fundamental for every manager to create it for
increasing the productivity and performance of every employee.

It is not always true that only money motivates employees and not all motivated
employees are happy. It is always necessary for every organization to have motivated
employees for its survival. They are the cause for increased productivity and goodwill of
organizations in today’s competitive environment. In fact, attracting the talent, enabling
them to give their best and retaining them are the most critical issues faced by all the
organizations. Therefore modern organizations are attracting employees through
monetary and non-monetary incentives such as variable pay, skill based pay, and flexible
benefits to name a few, which are linked with employees’ performance as motivators.

Non-monetary incentives such as employee recognition programs, value individual

employees, as well as group performances in the organizations. It is one of the best forms
of motivation. Employee involvement program, quality circles, job enrichment and
excitement are a few such programs that pave way for personal as well as organizational
growth. Increasingly organizations are realizing that they have to establish an equitable

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balance between the employee’s contribution to the organization and the organization's
contribution to the employees. Globalization has immense pressure on organizations
intending to sustain their competitiveness in the business scenario. The private sector is
facing severe domestic and foreign competition while the public sector is struggling with
escalating personnel costs, sluggish productivity, federal budget cuts and declining state
revenues. One of the major problems faced by Public and Private sectors is lack of
motivated and satisfied workforce.

In this context, the present study “Motivation and Job Satisfaction in SBI and ICICI
banks” assumes importance as this would throw more light on the different parameters of
employee motivation and satisfaction and how motivation techniques enhance
performance when used effectively.

1.8. Statement of the Problem

Employee motivation and satisfaction even after some 50 years of research continue to be
one of the problems and challenges facing organizations today. Motivating the workforce
of an organization to work more effectively to attain the organization’s goals is the most
important task of its management. Employee motivation is an innate force shaped and
maintained by a set of highly individualistic factors, which 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. They also conclude that motivated employees are generally
also satisfied with their work.

Numerous researchers investigated the relationship between work motivation and job
satisfaction in diversified professions but very few studies have contributed to study in
the banking sector. Banks play a role of intermediaries in mobilizing public savings and
channelizing the flow of funds for productive purposes, keeping with the process of the
economic growth of the country. Furthermore, factors such as liberalization, privatization
and globalization, have led to the substitution of public ownership by private ownership
paving way for the emergence of new private and foreign banks.

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In addition to other factors all organizations, whether public or private, need motivated
employees to be effective and efficient in their functioning. Employees who are
motivated to work energetically and creatively towards the accomplishment of
organizational goals become the significant assets in the organizational success.
Consequently, the challenge for organizations is to ensure the sustainability of the
motivation and satisfaction of their employees. Motivation, Job satisfaction and
Performance of employees’ are powerful tools for the long-term success of the
organizations and the banking sector is no exception to it.

The study aims to present the factors contributing towards employee motivation and
satisfaction in commercial banks. Since all the banks, irrespective of their category,
compete in the same market, it is deemed appropriate to analyze leading banks, one from
the public sector and one from a private sector bank. The research area is confined to
study “Motivation and Job Satisfaction in SBI and ICICI Banks”.

1.9. Objectives of the Study

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 employees’ perceived motivation and
perceived job satisfaction in SBI and ICICI Banks.

1.10. Hypotheses to be tested

The concept of employee motivation and job satisfaction is gaining importance in the
organisations. Many research studies have been made to find out the effect of job
satisfaction and motivation on the productivity of the organisations. The study observes
from the review of literature that there is a direct relation between motivation and job
satisfaction with demographic variables like experience, education, gender and age.
Demographic variables play an important role in the behavioural studies. These are
widely used in the studies of turnover and absenteeism. Demographic variables are the

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societal aspect for an individual. Tenure, age, gender, education and job levels are the 5
most cited demographic variables by the Porter, Mowday (1974). This research is a
further contribution to demographic studies on motivation and job satisfaction. The study
considers demographic variables such as gender, age, education, job experience, annual
income, designation, job security, working in shifts, working days and working hours.

1.10.1. Research Questions

Based on the objectives of the study stipulated above, the following research questions

have been formulated:

(i) Are there statistically significant differences between the respondents’ profile and
dimensions of work motivation such as work content, payment, promotion, recognition,
working conditions, leader supervision, benefits, personal and security of SBI and ICICI
banks?

(ii) Are there statistically significant differences between the respondents’ profile and job
satisfaction of SBI and ICICI banks?

(iii) Is there a statistically significant relationship between employee motivation and job
satisfaction at SBI and ICICI banks?

1.10.2. Research Hypotheses:

Sekaran (2000) defines a hypothesis as “a logically conjectured relationship between two

or more variables expressed in the form of testable statements.”

Hypothesis 1

There are no statistically significant difference between respondents’ profile and work
motivation dimensions such as work content, payment, promotion, recognition, working
conditions, leader supervision, benefits, personal and security of SBI and ICICI banks.

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1a) Banks and Work Motivation Dimensions
H0: There is no significant difference in motivation dimensions of different
employees working with SBI and ICICI Banks, i.e the motivational levels of
employees of SBI and ICICI do not differ significantly.
H1: There is significant difference in motivational levels of employees working
with SBI and ICICI Banks.

1b) Gender and Motivational Dimensions

H0: There is no significant difference in different employees with gender.
H1: There is significant difference in different employees with gender.

1c) Age and Motivational Dimensions

H0: There is no significant difference in different employees with different age
groups.
H1: There is significant difference in different employees with different age
groups.

1d) Educational Levels and Motivational Dimensions

H0: There is no significant difference in different employees with different
education levels.
H1: There is a significant difference in different employees with different
education levels.

1e) Job Experience and Motivational Dimensions

H0: There is no significant difference in different employees with different years
of job experience.
H1: There is a significant difference in different employees with different years of
job experience.

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1f) Income levels and Motivational Dimensions
H0: There is no significant difference in different employees with different
income levels.
H1: There is significant difference in different employees with different income
levels.

1g) Designation and Motivational Dimensions

H0: There is no significant difference in different employees with different
designations.
H1: There is significant difference in different employees with different
designations.

1h) Job Security and Motivational Dimensions

H0: There is no significant difference in different employees with job security.
H1: There is significant difference in different employees with job security.

1i) Working in shifts and Motivational Dimensions

H0: There is no significant difference in different employees with different
working shifts.
H1: There is significant difference in different employees with different working
shifts.

1j) Working days in a week and Motivational Dimensions

H0: There is no significant difference in different employees with different
working days in a week.
H1: There is significant difference in different employees with different working
days in a week.

1k) Working hours and Motivational Dimensions

H0: There is no significant difference in different employees with different
working hours in a day.

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 H1: There is significant difference in different employees with different working
hours in a day.

Hypothesis 2

There are no statistically significant difference between respondents’ profile and

employee perceived job satisfaction factors such as pay and benefits, job itself, pride and
career in SBI and ICICI Banks.

2a) Banks and Job Satisfaction

H0: There is no significant difference in Job satisfaction levels of employees
working with SBI and ICICI Banks, i.e. the satisfaction levels of employees of
SBI and ICICI do not differ significantly.
H1: There is a significant difference in job satisfaction levels of employees
working with SBI and ICICI Banks.

2b) Gender and Job Satisfaction

H0: There is no significant difference in different employees with gender.
H1: There is significant difference in different employees with gender.

2c) Age and Job Satisfaction

H0: There is no significant difference in different employees with different age
groups.
H1: There is significant difference in different employees with different age
groups.

2d) Educational level and Job Satisfaction

H0: There is no significant difference in different employees with different
education levels.
H1: There is a significant difference in different employees with different
education levels.

19
2e) Job experience and Job Satisfaction
H0: There is no significant difference in different employees with different years
of job experience.
H1: There is a significant difference in different employees with different years of
job experience.

2f) Income levels and Job Satisfaction

H0: There is no significant difference in different employees with different
income levels.
H1: There is significant difference in different employees with different income
levels.

2g) Designation and Job Satisfaction

H0: There is no significant difference in different employees with different
designations.
H1: There is significant difference in different employees with different
designations.

2h) Job Security and Job Satisfaction

H0: There is no significant difference in different employees with job security.
H1: There is significant difference in different employees with job security.

2i) Working in Shifts and Job Satisfaction

H0: There is no significant difference in different employees with different
working shifts.
H1: There is significant difference in different employees with different working
shifts.

2j) Working Days and Job Satisfaction

H0: There is no significant difference in different employees with different
working days.

20
 H1: There is significant difference in different employees with different working
days.

2k) Working Hours in a Day and Job Satisfaction

H0: There is no significant difference in different employees with different
working hours in a day.
H1: There is significant difference in different employees with different working
hours in a day.

Hypothesis 3

Statistically there is no significant relationship between perceived motivation and

perceived job satisfaction.

1.11. Research Methodology and Instrument

The methodology adopted for analyzing Motivation and Job Satisfaction is empirical in
nature. Both qualitative and quantitative methods were applied. A survey method has
been adopted to gather information from respondents. A comparative study has been
made about motivation and job satisfaction of employees in SBI and ICICI.

1.11.1 Sample Size

The question of sample size can be addressed in two ways. One is to make assumptions
about the population and use statistical equations about random sampling process
Neuman (2000). A second more frequently used method is the rule of thumb is a
conventional or accepted amount. Researchers use it because they rarely have the
information required by the statistical method and because it gives a sample size close to
those of the statistical method. Rules of thumb are not arbitrary but are based on
experiences with samples, which have met the requirements of that statistical method
Neuman (2000).

21
The one rough rule of thumb commonly cited is that about 30 observations are needed to
obtain moderately reliable statistics Holbert and Speech (1993). Nevertheless, the rule of
thumb may have to be adjusted upwards if the population has a high variance. One
principle of sample size is, the smaller the population, the bigger the sampling ratio has to
be for an accurate sample. Larger populations permit smaller sampling ratios for equally
good samples Neuman (2000). For small populations (under 1000), a researcher needs a
large sampling ratio (about 20 – 30%). For larger populations (over 150000), a smaller
sampling ratio (1% or less) is possible. Any situation calling for lots of data from each
respondent usually means that fewer people can be surveyed. The other case would be
where the researchers want only a bit of information from each respondent, but need lots
of respondents Holbert and Speech (1993). Crouch (1994) was of the opinion that for
quantitative research, the minimum sample size should be around 300 and 500.

The study is of motivation and job satisfaction in banks. The study is confined in a public
and private sector commercial bank. Since all the banks, irrespective of their ownership
(category), compete in the same market, it is deemed appropriate to analyze a leading
bank within each of the major criteria selected. The sample comprises two top banks in
India, namely the SBI and the ICICI banks. At present, the former is the number one
bank of India in terms of branch network and the latter in terms of market capitalization.
The basic motive behind choosing these two banks is increasing global presence of SBI
and ICICI. The questionnaire was specifically designed to accomplish the objectives of
the study.

The data were 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 ICICI in twin cities of
Hyderabad and Secunderabad have been considered to make a comparative study. They
are as follows:

22
 Banks Branches Total

Bible
Khairatabad Secundrabad Abids 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

The branches are small and medium sized from the point of view of employment. The
size varies from 10- 50 employees’. Convenience sampling was used to select the sample.
Bank employees’ of cadres such as assistant manager, assistant general managers, deputy
manager, manager, chief manager and clerks were considered. For evaluating the
perceptions of the respondents of both banks the sample selection was so made to obtain
views from a cross section of employees. Questionnaire method was adopted to gather
the information from the respondents. The questionnaire was specifically designed to
accomplish the objectives of the study. The questionnaire consists of 62 questions,
besides 11 questions on the profile of the respondents.

1.11.2. Testing for reliability and Validity

In order to ensure credibility of findings by empirical research, the survey instrument
should have reliability and validity. Reliability refers to consistency. It suggests that the
same thing repeated or recourse under identical or very similar conditions. The opposite
of reliability is a measurement that yields erratic, unstable, or inconsistent results
Neuman (2000). Validity is the match between a construct, a conceptual definition, and a
measure. It refers to actually measure what you define.

1.11.3. Reliability
In this study, statistical analysis is performed by SPSS package. The Cronbach coefficient
alpha is used to measure the internal consistency of the variables; the Cronbach’s and
item to correlation are adopted. To test the validity of the survey instrument, the
questionnaire was pilot tested. 30 questionnaires were distributed to the employees of

23
both SBI and ICICI banks and the results were analyzed using the SPSS package.
Cronbach Coefficient Alpha is used to measure internal consistency of the data; it is a
commonly used measure of reliability. If the Cronbach Alpha is greater than 0.70 means
it has high reliability, if the Cronbach Alpha is between 0.50 and 0.60 the internal
consistency is still acceptable Robinson and Shaver (1973) and if the Cronbach Alpha is
smaller than 0.30 it has low reliability.

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. The first part of
the instrument measure work motivation. It is a 43-item questionnaire using a Likert scale
with responses ranging from Strongly Disagree = SD; Disagree = D; NS = Not Sure;
Agree = A; and Strongly Agree= SA; the items were adapted from De Beers (1987)
standardized questionnaire for work satisfaction and motivation was used to collect data.
The tool is a standardized tool and has been widely used by various researchers for
studying employee motivation. The De Beers tool measures motivational orientation with
sub dimensions, hence it can be said that it is difficult to measure the motivational
orientation directly and motivational orientation is a constraint. Motivational orientation
can be quantified with the help of its nine factors viz. Work content, payment, promotion,
recognition, working conditions, benefits, personal, supervisor and general. The
modification yielded a r = 0.74 Cronbach Alpha.

The second part of the instrument contains items that measure job satisfaction; Job
Descriptive Index (JDI) was one of the most commonly used instruments on measuring
employee job satisfaction designed by Smith, Kendall, Hulin (1969). JDI evaluates job
satisfaction in five facets namely pay, promotions and promotion opportunities,
coworkers, supervision, and the work itself. The questionnaire included questions
(Question 1-19) in relation to their satisfaction in terms of “pay”, “promotion, promotion
opportunities”, “coworkers”, “supervision” and “the work itself” with 5-point Likert
scale: ranking from One to Five (1 being of “strongly disagree” and 5 being “strongly
agree”). The pretest applied to measure reliability and validity. The collected item total

24
correlation was 0.50, and if deleting the item (question no 7) increase Cronbach’s α, the
item was deleted. The overall reliability co-efficient of the instrument yielded a r = 0.73
Cronbach’s alpha.

1.11.4. Statistical Techniques

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. 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.

1.11.5. Descriptive Statistics

Descriptive analysis aims to describe the data by investigating the distribution of scores
on each variable, and by determining whether the scores on different variables are related
to each other Terre Blanche & Durham (1999). The descriptive statistics used in this
study included means, frequencies, percentages and standard deviations. The mean is a
measure of central tendency, which provides an arithmetic average for the distribution of
scores Coolican (1999), Neuman, (1997).

1.11.6. Analysis of Variance (ANOVA)

According to Coolican (1999), anova procedures test the significance of the differences
between sample means where more than two conditions are used, or when several
independent variables are involved. In this study, this statistical method is used to
establish if a statistical significant difference exists between levels of motivation and
biographical variables. According to Hinkle et al (1982), “in anova, the hypothesis is that
the mean performance in the population is the same for all groups (equality of population
means).” They add that mean differences are tested for statistical significance. Motion

25
and Marais (1990) further state that anova makes it possible to appraise the separate and
joint influence of several independent variables on the experimental criterion.
Anova was employed to determine whether there is a difference in the motivation
dimensions based on the respondent’s profile (namely gender, age, educational
background, job experience, Annual salary, designation, job security, working in shifts,
working days, and working hours).

1.11.7. Factor Analysis

To study the job satisfaction levels of the respondent’s factor analysis is adopted. Factor
analysis is a statistical method used to describe variability among observed. Factor
analysis searches for such joint variations in response to unobserved latent variables. The
observed variables are modeled as linear combinations of the potential factors, plus error
terms. The information gained about the interdependencies between observed variables
can be used later to reduce the set of variables in a dataset. Computationally this
technique is equivalent to a low rank approximation of the matrix of observed variables.
Factor analysis originated in psychometric, and is used in the behavioral sciences, social
sciences and other applied sciences that deal with large quantities of data.

1.11.8. Independent Samples t-test

The t-test is used to compare the values of the means from two samples and test whether
it is likely that the samples are from populations having different mean values. The t test
is used for analysis as it compares the means between two unrelated groups on the same
continuum, dependent variable. The respondents' profile of both SBI and ICICI are
compared with the application of t test (namely banks, gender, job security and shifts).

1.11.9. Correlation Analysis

Correlation is a statistical tool which determines the strength and direction of the
relationship between two variables. The value of correlation ranges from +1 to -1 and
both the values show strong positive and negative relationships. While the 0 shows no

26
relationship. Correlation analysis is used to study the relationship between Motivation
and Job Satisfaction.

1.11.10. Regression analysis

As the coefficient of correlation tells only that there is a relationship between the two
variables but it does not clarify the kind of relationship existing between the two
variables. Therefore, regression analysis was carried out to examine the kind of
relationship existing between Motivation and Job Satisfaction. It attempts to determine
the strength of the relationship between dependent variable, job satisfaction and
motivation dimensions being the independent variables.

1.11.11. Scope of the Study

The major focus of the study will be on motivation and job satisfaction in State Bank of
India and Industrial Credit and Investment Corporation of India. The study is confined to
the twin cities of Hyderabad and Secunderabad.

1.11.12. Period of the Study

The study covers a period starting from the year 2008-2013. However, the period varies
depending on the availability of data. The survey was conducted during the past two
years i.e., 2010-2011 and 2011-2012.

1.11.13. Sources of Data

The data for the study includes both primary and secondary sources of data. The primary
data are gathered by means of a structured questionnaire. Information on the
organizations motivational techniques is gathered by conducting interviews with the
managers. The relevant secondary data are collected from reference books, journals, SBI
manuals and website, ICICI bank's website, Reserve Bank of India Publications:
Statistical returns of scheduled commercial banks magazines and newspapers.

27
1.12. Chapterization The plan of the study is as follows

Chapter-I Introduction chapter

This chapter presents the concept of motivation and job satisfaction in selected banks,
State Bank of India (SBI) and Industrial Credit Investment Corporation of India (ICICI).
This chapter presents the need and importance of the study, the objectives, scope of the
study, the period of the study, methodology adopted chapterisation and limitations of the
study.

Chapter-II Review of Literature

It provides an overview of a number of research works and articles that are available on
the subject of employee motivation and job satisfaction.

Chapter-III Profile of Indian Banking Industry

This chapter presents an overview of the Indian Banking Industry. It also presents the
profile of SBI and ICICI Banks. This chapter also presents the motivational practices
adopted by the banks.

Chapter- IV Motivation Analysis

This chapter presents the analysis of employee perceived motivation in SBI and ICICI
banks. It also presents the relationship between employee motivation and respondents'
profile.

Chapter-V Job Satisfaction Analysis

This chapter presents the analysis of employee perceived job satisfaction in SBI and
ICICI banks. It also presents the relationship between employee job satisfaction and
respondents' profile. Further this chapter also presents the relationship between
motivation and job satisfaction.

28
Chapter- VI Summary, Conclusions and Suggestions
This chapter presents the summary and conclusions of the study. It presents the summary
and conclusions emerged from the study.

1.13. 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.

Summary

This chapter has introduced the concepts of motivation and job satisfaction, motivation
and satisfaction in public and private sectors with special reference to banks. It also
presents the need and importance of the study, research methodology for the study
including objectives, hypothesis, data sources, and the data analysis etc. The plan and
limitations of the study are presented.

29
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