Quality of work life

January 31, 2018 | Author: Megha Sundriyal | Category: Survey Methodology, Research Design, Employment, Motivation, Self-Improvement
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it is about Quality of work life at allahabad bank...

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Quality of work life At Allahabad Bnak Report submitted in partial fulfillment of the requirement for the degree of BBA General In MANAGEMENT Under the Supervision of Mrs.menu Yadav Asst. Professor (Management) By Anshika Sharma 0900090900 To

CERTIFICATE This is to certify that has completed this report under our supervision and guidance. She has taken care of all the necessary aspects and shown interest and utmost sincerity during the completion of the project report to our full satisfaction. To the best of our knowledge and belief the data and information presented by her in the project has not been submitted earlier.

We clarify that the project report is up to our expectation and as per the guidelines laid down by GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY.

MRS. MENU YADAV (ASSISTANT PROFESSOR)

ACKNOWLEDGEMENT I would like to offer my sincere gratitude to various people, who directly or indirectly contributed in the development of this work and who influenced my thinking, behavior, and acts during the project report. I am indebted to THE STAFF OF Allahabad Bnak who provided me with their views.At last but not the least, Mrs. MENU YADAV, (ASSISTANT PROFESSOR) Ideal Institute of Management and Technology and School of Law for her support, co-operation and motivation provided to me during the project report. In the outset, I convey my sincere thanks to all those who spared their precious time for me. For giving me once again a great opportunity to work on the project and solving problems, queries, which I faced during the making of my project. The project report has been a learning experience for me and would not have been possible without the support and guidance of the above mentioned people. Needless to say, I alone remain responsible for any errors that might have crept into the pages, despite of my best possible efforts to avoid them.

BBA 5TH SEMESTER

DECLARATION This is to certify that I have completed the project titled “Quality of Work Life” at Allahabd Bank” Under the guidance of Mrs.MENU YADAV in partial fulfillment of the requirement for the award of degree of Bachelor of Business Administration (2012-2015) at IDEAL IMSTITUTE OF MANAGEMENT AND TECHNOLOGY, DLEHI. This is an original piece of work and I have not submitted it earlier elsewhere.

BBA 5TH SEMESTER

Executive Summary

Today the Indian banking industry is witnessing boom times better than ever before. The availability of skilled managerial and technical manpower in India will contribute considerably to the prosperity of the banking industry in future. Hence in an attempt is necessary to assess the perceptions of the employees who are presently working in the bank to know the actual quality of work life in the banking industry. The quality of work life covers a wide range of issues both financial and non-financial relating to work context, work contents and work relations. Work life is a “central” thing in which individual wants to be emphasis themselves on it as well as concentration on a family life. The quality of work life defines the life at work and the life at home with family member. Happy and satisfied employee easily handles the problem of life but only exultant individual can’t cope up with the environment of the organization until getting the satisfaction from the job. So, the proclamation of work life and family affects each other is probably go in the same direction. This project report emphases on the quality of work and performance of Allahabad bank. Allahabad bank is the oldest nationalized bank in India. In this report Participative management, grievance handling procedure, health care facilities, fringe benefits , rewards and recognitions etc., are used as variable to identified the satisfaction of employees’ towards the quality of work life offered by the organization. 50 questionnaires were filled by 50 employees of the bank. Among the branches of Allahabad Bank which were as follow: Address/Location

Chief Manger

Manager

Officer

Clerks

Total

no.

of

of the Branch

Employees in

1.Kanti Nagar

1

1

3

8

the branch 13

2.Ananad Vihar

1

1

3

8

13

3.Patparganj

0

1

2

2

5

3.Laxmi Nagar

0

1

3

5

9

4.Geeta Colony

0

1

1

2

4

5.Dilshad Garden

0

1

3

3

7

Total

51

Table of content

SR. NO

Chapter - 1

TOPIC

Introduction to the topic 1. a What is Work/ Life Balance. It’s Important theories. 1. b TQM as a part of QWL 1. c Job Enlargement & Job enrichment 1.d Relationship between Work-Life Balance, Job Performance and well-being 1.e Methods to enhance QWL 1.f Barriers to QWL 1.g How to improve QWL

Chapter-2

Company Profile 1.Literature review 2.Current Schemes for Employees 3.SWOT Analysis

SIGNATURE

Chapter-3

4.Research Methodology 1.Research Problem 2.Objective of the study 3.Scope of the study 4.Imporatance of study 5.Limitation of Study 6.Research Design 7.Sampling Technique 8.Sample Area 9.Reesearch Instrument 10.Sample Size

Chapter-4

Data analysis and interpretation

Chapter-5 Chapter-6 Chapter-7

Findings and conclusion Recommendation Appendix 1. Bibliography & reference

2.Questionnaire 3. List of people contacted

Chapter-1 INTRODUCTION TO THE TOPIC

What is work life Balance QWL can be defined as "the quality of relationship between employees and the total working environment. It is a Person’s life. It covers a person’s feelings about every dimension of work including economic rewards and benefits, security, working condition, Organizational and interpersonal relations and its intrinsic meaning in person’s life. Therefore we can simply say Q.W.L. is a concern not only to improve life at work, but also life outside work” Walton(1974) lists adequate and fair compensation, safe and healthy environment, jobs which are aimed at development using employee’s skills and abilities, growth and security, an environment in which employees develop self-esteem and a sense of identity, protection and respect for employees’ right to privacy, dissent, equity etc, a sensible

Taylor (1979) came up with components such as extrinsic job factors (e.g. wages, hours of work & working conditions) and intrinsic job factors. He states that quality of work life must have considerations such as:

Employee participation in management



Fairness and equity



Social support



Self development



Meaningful future at work

Principle of QWL by Hartick and Maccoby, 1. Principle of Security 2. Principle of Equity 3. Principle of Individuality and 4. Principle of Democracy.

1. Principle of Security: The changing workforce of knowledge workers expects more than just money from their work life. Job Security is at the top of their list. The modern era is rapidly becoming an era of dual income workers where both the spouses are working. Such workers need more flexibility in certain areas such as working hours, leaves, compensation, etc. A worker who is free from the fear of loss of employment contributes more value o an organisation. 2. Principle of Equity: In law, the principle of equity states that there should be no distinction or discriminates among the owners, management and workers. There should be a fair reward for all of them. The profit of the business should be shared between the owners and employees in the ratio of contribution made by each one of them.

3. Principle of Individuality: Individuality refers to freedom and antonomy allowed to workers in deciding their own pace of work, methodology and designing of sequence of operations of the job. Thus, principle of individuality lays down that every individual employee should be motivated to make use of his existing capabilities and also encouraged to develop his competence to the maximum level. 4. Principle of Democracy: This principle implies that there should a democratic environment at the work place. The employers should enjoy certain rights such as right to personal privacy, freedom of speech etc. Workers’ participation in management is an indication of democratic set up of an organisation.

QWL as a part of TQM Total Quality Management (TQM) is a management approach that originated in the 1950s and has steadily become more popular since the early 1980s. Total quality is a description of the culture, attitude and organization of a company that strives to provide customers with products and services that satisfy their needs. Some of the principles of total quality management are (i) Customer satisfaction. (ii) Employee involvement. and (iii) Continuous improvements in quality. (i) Customer satisfaction:

TQM’s basic focus is on a customer and his satisfaction. Some of the customer perceptions of quality that correlates with customer’s satisfaction are expected quality, satisfying quality, delightful quality, indifferent quality and worst quality must aim at to preventing customer dissatisfaction and also to meet customer’s expectations. (ii) Employee Involvement:

Employee involvement is very important in achieving and sustaining high levels of quality. Employees must be encouraged and involved to participate in quality-management by using control tools and techniques and

identifying the areas needing improvement. Training and motivation of employees are essential for achieving and sustaining high levels of quality. (iii) Continuous improvements in quality:

Continuous improvement in quality is a never ending process. The manufacturer must specify quality attributes of the product or service very carefully and try his best to achieve these specifications. The management should focus on identifying and eliminating causes of poor quality. Quality should be made the responsibility of everyone in the organisation.

Job enlargement & Job enrichment

Job Enlargement means increasing the scope of a job through extending the range of its job duties and responsibilities generally within the same level and periphery. Job enlargement involves combining various activities at the same level in the organization and adding them to the existing job. It is also called the horizontal expansion of job activities.[1] This contradicts the principles of specialisation and the division of labour whereby work is divided into small units, each of which is performed repetitively by an individual worker and the responsibilities are always clear. Some motivational theories suggest that the boredom and alienation caused by the division of labour can actually cause efficiency to fall. Thus, job enlargement seeks to motivate workers through reversing the process of specialisation. A typical approach might be to replace assembly lineswith modular work; instead of an employee repeating the same step on each product, they perform several tasks on a single item. In order for employees to be provided with Job Enlargement they will need to be retrained in new fields to understand how each field works. The objective of job enlargement is to motivate an employee by increasing his efforts and exposure towards achieving the organizational objectives as set for the job.[2] By doing this, an employee can get a wider range of his or her objectives without his or her job in a repetitious manner. Job enlargement requires the management of the organization to provide their support in providing appropriate training to the employees to make them able to adapt to the enlarged job scope.[3] Some advantages of job enlargement are a variety of skills, improves earning capacity, and wide range of activities. Variety of skills-Job enlargement helps the organization to improve and increase the skills of the employee due to organization as well as the individual benefit.[4] Improves earning capacity-with all the new activities a person learns from job enlargement, they are able to try and get a better salary when they apply for a

new job. Wide range of activities-Employees are able to learn more activities which can help a company save money by reducing the number of employees they have. However results have shown that this process can see its effects diminish after a period of time, as even the enlarged job role become the mundane, this in turn can lead to similar levels of demotivation and job dissatisfaction at the expense of increased training levels and costs. The continual enlargement of a job over time is also known as 'job creep,' which can lead to an unmanageable workload. Job enrichment is a management concept that involves redesigning jobs so that they are more challenging to the employee and have less repetitive work. The concept is based on a 1968 Harvard Business Review article by psychologist Frederick Herzberg titled 'One More Time: How Do You Motivate Employees?' In the article, Herzberg stated that the greatest employee motivators, based on several investigations, are (in descending order): achievement, recognition, work itself, responsibility, advancement, and growth. To improve employee motivation and productivity, jobs should be modified to increase the motivators present for the employee. To make this concept more usable, let's imagine you are a company manager and want to increase the satisfaction of your staff. As you walk through the process of job enrichment, you'll need to keep in mind these goals: 

Reduce repetitive work.



Increase the employee's feelings of recognition and achievement.



Provide opportunities for employee advancement (i.e. promotions into jobs requiring more skills).



Provide opportunities for employee growth (i.e. an increase in skills and knowledge without a job promotion). Difference between Job enlargement and job enrichment

1. Job enrichment is dependent on job enlargement, whereas job enlargement is not dependent on enrichment. 2. Job enlargement means taking charge of more duties and responsibilities which are not mentioned in the job description. 3. Job enrichment gives more control and managerial access to perform tasks and responsibilities.

4. Job enlargement is horizontal, whereas job enrichment is vertical expansion. 5. Job enlargement and job enrichment are tools for motivation and growth.

RELATIONSHIP BETWEEN WORK-LIFE BALANCE, JOB PERFORMANCE AND WELL-BEING (i)

Job Satisfaction: A work life initiative available, increases individual’s perception about their employer and improves individual’s overall positive feeling towards their employer which impacts job satisfaction and organizational commitment. 13 Herzberg and his colleagues state that there are two types of factors contributing to one’s job satisfaction- intrinsic and extrinsic. They suggest that intrinsic factors, as socalled satisfiers, act as major motivators for employees while extrinsic factors, also named as hygiene factors, might lead to dissatisfaction if not appear in certain extent. A view by other researchers in the same article, based on empirical studies, addresses that there are seven working conditions positively associated with job satisfaction. These are as follows: 1. Mentally challenging work with which the individual can cope successfully, 2. Personal interest in the work itself, 3. Work which is not too tiring physically, 4. Rewards for performance, 5. Working conditions which are compatible with the individual’s physical needs and work goals, 6. High self-esteem on the part of the employees and 7. Help in attaining interesting work, pay and promotions and in minimizing role conflict and role ambiguity. The factors above support the fact that employees put more value on intrinsic factors than extrinsic factors. It was shown that employers made a better influence on their employees by giving them recognition for good performance than raising their salaries. Also in the case of the members of higher management the results addressed that the managers put more value on intrinsic aspects of their work. This clearly shows that it is highly important for companies to provide their managers with an opportunity to experience such potentially rewarding features of their job, for example by offering greater level of autonomy of action rather than a myriad sub tasks Job satisfaction has versatile effects on individual’s lives. Job satisfaction is one of the most important factors in terms of work-life balance; having a balance at work is directly related to balance between work and private life. If the workload at work crosses the level of convenience, employees are most probably forced to work overtime or take work home, which

(ii)

then interfaces person’s private lives by shaking the work-life balance. Well-being: Many efforts have been made to describe well-being. By starting with overall statements, well-being can be formulated as follows: “a state of being or doing well in life”. There are two primary areas from the provision of welfare, which affect individuals- these are physical benefits and emotional or psychological benefits. Physical benefits are made up from improvements to

health and safety, including benefits such as paid holidays and reduced working hours, emotional welfare is related to amendments in terms of mental health, such as counseling, improved communication or anything involving the human relations needs of people at work. Due to highly integrated nature of these benefits, in many cases welfare activities include both physical and emotional factors. It has been addressed previously that many actions offered by employer can have essential (iii)

impacts on employees’ well-being Quality of Work Life and Job Performance Similarities exist between QWL and job performance as both are organisationally based. Job performance is a function of both the individual and the organization. Therefore, the two constructs are situational based and contextual to the work Two-factor model for the relation between QWL and job performance based on Walton model of QWL and achieve model of job performance

Methods to enhance QWL

A) QWL THROUGH EMPLOYEE INVOLVEMENT (EI): One of the most common methods used to create QWL is employee involvement. Employee involvement (EI) consists of a variety of systematic methods that empower employees to participate in the decisions that affect them and their relationship with the organization. Through (EI), employees feel a sense of responsibility, even ³ownership´ of decisions in which they participate. To be successful, however, EI must be more than just a systematic approach; it must become part of the organization’s culture by being part of management’s philosophy. Some companies have had this philosophy ingrained in their corporate structure for decades; Hewlett-Packard, IBM, General Motors, Ford, etc. B) QUALITY CIRCLES: Quality circles are small groups of employees who meet regularly with their common leader to identify and solve work-related problems. They are a highly specific form of team building, which are common in Japan and gained popularity in North America in the late1970s and early 1980s. By the 1980s most medium- and largesized Japanese firms had quality control circles for hourly employees. This effort began as a quality improvement program but has since become a routine procedure for many Japanese managers and cornerstone of QWL efforts in many Japanese firms. Several characteristics make this approach unique. First, membership in the circle involuntary for both the leader (usually the supervisor) and the members (usually hourly workers). Secondly, the creation of quality circles is usually preceded by in-house training. For supervisors these sessions typically last for two or three days. Most of the time is devoted. to discussions of small-group dynamics, leadership skills, and indoctrination in the QWL and quality circle philosophies. About a day is spent on the different approaches to problem-solving techniques. The workers also receive an explanation of the supervisor’s role as the group’s discussion leader and information on the quality circle concept. Thirdly, as is pointed out in the training, the group is permitted to select the problems it wants to tackle. Management may suggest problems of concern, but the group is empowered to decide which ones to select. Ideally, the selection process is not by democratic vote but is arrived at by consensus, whereby everyone agrees on the problem to be tackled. IRJC International Journal of Marketing, Financial Services & Management Research Vol.1 Issue 10, October 2012, ISSN 2277 3622 www.indianresearchjournals.com 146 (If management has been pressing problems that need to be solved, these problems can be handled in the same way that they were resolved before the introduction of quality circles). When employees are allowed to select the problems they want to work on, they are likely to be more motivated to find solutions. And they are also more likely to be motivated to stay on as members of the circle and solve additional problems in the future.

C) SOCIO-TECHNICAL SYSTEMS:

Another intervention to improve QWL is the use of socio-technical systems. Socio-technical systems are interventions in the work situation that restructure the work, the work groups, and the relationship between workers and the technologies they use to do their jobs. More than just enlarging or enriching a job, these approaches may result in more radical changes in the work environment. D) AUTONOMOUS WORK GROUP: A more common, still rare, approach to employee involvement is the use of autonomous work groups. These are teams of workers, without a formal company-appointed leader, who decide among themselves most decisions traditionally handled by supervisors. The key feature of these groups is a high degree of self-determination by employees in the management of their day-to-day work. Typically this includes collective control over the pace of work, distribution of tasks, organization of breaks, and collective participation in the recruitment and training of new members. Direct supervision is often necessary. QWL is more likely to improve as workers demand jobs with more behavioral elements. These demands will probably emerge from an increasingly diverse and educated work force that expects more challenges and more autonomy in its jobs ± such as worker participation indecisions traditionally reserved for management.

Barriers to QWL  

Resistance to change both by management and employees. There is a general perception that Q.W.L. implementation will cost much to the organization



Continuous increase in QWL may result in less productivity, i.e.., after a certain level the productivity will not increase in proportion to the increase in QWL.

  

Widespread unhappiness due to comparison with colleagues. Regional prejudice Skepticism about the performance appraisal system and promotion criteria.

How to improve QWL?

In our country, recently many changes have introduced in the Government policies like privatization. The Government organizations are mismanaged incurring heavy loss on public money either due to corruption by bureaucrats’ intervention of politicians and Trade Union IRJC International Journal of Marketing, The scope for transfer of technology has increased and inflow of investments from non-resident Indians allowed. The privatization created many avenues for many unemployed people by reducing severity of the problem. Hence, it is absolutely necessary to improvement in the Quality of Work Life of our country. Following are some suggestions that can help, to a large extent, improve Quality of working life in India: THE EMPLOYERS SHOULD Provide physical amenities at the work place, health and safety and welfare provision. Involve workers in decision-making on all matters. Initiate suitable forms of work design Formalize QWL experience for future use. Develop an appreciation of changing environment. THE UNIONS AND WORKERS SHOULD Educate and make workers aware of QWL. Identify areas of collaboration with management. Encourage workers to participate in QWL activities. THE PROFESSIONAL ORGANIZATIONS SHOULD organize workshops and seminars to bring about greater awareness of QWL. Initiate specific research projects in this field. Provide professional assistance to organizations to help generate internal competence. Develop state-of –art profiles on QWL. THE GOVERNMENT SHOULD Legislate standards and norms in newer areas. Execute in policy to provide greater autonomy experiment with QWL. TEST OUT ONE’S OWN PERSONAL VISION -with that of your organizations - in how many ways do they support each other? Ask questions to better understand your organization's mission, vision, and values. LEARN, AND KEEP ON LEARNING -go training sessions and in-services, enroll in college courses, read books. Know why, not just how. BUDDY-UP -find ways to share the load with other team members. Sharing the load makes work easier to manage and less stressful. SHARE YOUR SUCCESSES-this allows you to learn from the successes of others, as well as giving you a boost when you need GET IT OFF YOUR CHEST- talk things over with your buddy, friend, supervisor when things trouble you, don’t keep it bottled up inside. FIND JOY IN BEING OF SERVICE TO OTHERS-think about how the person you are serving is better off as a result of your work, rejoice n that knowledge. TAKE TIME FOR BREAKS-pay particular attention to the need to refresh body, mind and spirit. TRY OUT NEW IDEAS- to innovate is to grow. By using your creativity and innovation life becomes exciting and fulfilling.

HAVE FUN AT WORK - laughter is the best medicine, but use only appropriate humor. Damaging someone else’s self esteem for the fun of it is no laughing matter.

Chapter-2 Company Profile

ALLAHABAD BANK

 History of the bank  Vision and mission  Employees Schemes and services  SWOT analysis

Overview Nineteenth Century The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries - Nineteenth, Twentieth and Twenty-First.

April 24, 1865's

The Bank was founded at the confluence city of Allahabad by a group of Europeans.

1890's

Twentieth Century 1920's

The Bank became a part of P & O Banking Corporation's group with a bid price of Rs..436 per share,

1923

The Head Office of the Bank shifted to Calcutta on Business considerations.

July 19, 1969

Nationalized along with 13 other banks, Branches - 151 Deposits - Rs.119 crores, Advances - Rs.82 crores.

October, 1989

United Industrial Bank Ltd. merged with Allahabad Bank.

1991

Instituted AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking.

Twenty-First Century October, 2002

The Bank came out with Initial Public Offer (IPO), of 10 crores share of face value Rs.10 each, reducing Government shareholding to 71.16%.

April, 2005

Follow on Public Offer (FPO) of 10 crores equity shares of face value Rs.10 each with a premium of Rs.72, reducing Government shareholding to 55.23%.

June, 2006

The Bank Transcended beyond the National Boundary, opening Representative Office at Shenzen, China.

Oct, 2006

Rolled out first Branch under CBS.

February, 2007

The Bank opened its first overseas branch at Hong Kong.

March 2007

Bank's business crossed Rs.1,00,000 crores mark.

March, 2010

Bank crosses Business figure of Rs.1,75,000/- crore with a growth rate of 23.06%

March, 2011

Bank has implemented CBS in all its Branches

March, 2012

Bank crosses its net work of 2500 branches.

March, 2013

Bank crosses bench mark business figure Rs.3,00,000/- crore and enters in “Orbit of Large Banks”

Vision : To put the Bank on a higher growth path by building a Strong Customer-base through Talent Management, induction of State-of-the-art Technology and through Structural Re-organization. Mission : To ensure anywhere and any time banking for the customer with latest state-of-the-art technology and by developing effective customer centric relationship and to emerge as a world-class service provider through efficient utilization of Human Resources and product innovation.

Employees Schemes and services Furniture & Fixtures Scheme for providing furniture/fixture/electrical & electronic items to executive/officers of the bank.

Eligibility: All confirmed Executive/Officers are eligible to avail the facility. Under the scheme irrespective of the stay in Bnaks own Flat/Bank leased accommodation/Personal leased accommodation/rented accommodation/own accommodation. Monetary ceiling of furniture/fixtures/electrical & electronic items. Grade/Scale

Maximum Monetary Ceiling (in Rs) inclusive of taxes

JMG Scale 1

Rs. 100000

MMG Scale 2 MMG Scale 3 SMG Scale 4 SMG Scale 5

Rs. 125000 Rs. 150000 Rs. 175000 Rs. 180000

Periodicity Executives are eligible to avail this facility once in their entire career

Reimbursement of conveyance expenses Grade/Scale

Two Wheeler

Car

Eligibility (Rs)

JMG Scale 1

30 Ltrs per month

35 Ltrs per month

500/- per month

JMG Scale 2

30Ltrs per month

60 ltrs per month

600/-per month

MMG Scale 3

40 Ltrs per month

75 ltrs per month

700/-per month

SMG Scale 4

50 Ltrs per month

80 ltrs per month

1200/-per month

Reimbursement of cost of Newspaper Cost of one newspaper is reimbursed on monthly basis to all officers Reimbursement of mobile Bill on monthly basis. Si No

Categories of officers

Limit per month (Rs)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

General manager Dy. General manager Asst. General manager as Zonal Head Other Asst. General managers Chief Mangers of ZO & LDMs Chief Manager as Branch Head Chief manger as CRBB Head Other Chief mangers Sr. Manager as Branch Head Other Sr. Manager Scale-2 Manager as branch Head Other scale-2 Manager Scale-1 officer as branch Head Other Scale-1 Officer/Asst. Manager RBB Head/Marketing Manager at ZO/Branch Specified Marketing Persons(Bancassurance) IT Officers posted at Data Centre Security Officers Sr. Manager (Vigilance)/Manager(Vigilance) Posted at FIO

On actual basis 3000/3000/15000/1250/1250/1250/1000/500/400/400/300/300/200/1000/1000/1000/1000/1000/-

Entertainment Expenses Category of officers Branch

Eligibility

manager/Retail banking boutique managers & CRBB head/Zonal heads/FGMs JMG Scale 2 MMG Scale 2 MMG Scale 3 SMG Scale 4 SMG Scale 5 TEG Scale 6

4800/-p.a (400 p.m.) 6000/- p.a.(500 p.m.) 7200/-p.a(600 p.m.) 9600/- p.a.(800 p.m.) 12000/-p.a.(1000 p.m.) 14400/- p.a.(1200 p.m.)

Reimbursement of fees for acquiring higher qualification: SN

Institution

Name of the course

Incentive offered by the bank

Certificate in Anti money laundering & know your customer (AML&KYC) Diploma in Treasury, Investment and risk management

Rs.2000/-

-Do-

Diploma in Bnaking technology

Reimbursement of Examination fees in full for passing any of the five diploma examinations

-Do-

Diploma in Capital market and Merchant Banking

Reimbursement of Examination fees in full for passing any of the five diploma examinations

-Do-

Diploma in advances in rural banking

Reimbursement of Examination fees in full for passing any of the five diploma examinations

1. Banking and finance, Mumbai 2. Institute of banking and finance (IIBF) Mumbai

Leave

Reimbursement of Examination fees in full for passing any of the five diploma examinations.

Casual Leave An officer should be eligible for casual leave on full emoluments of 12 working days in a year provided that not more the 4 days casual leave may be availed of any one time.

Privilege Leave An officer shall be eligible for privilege leave computed at one day for 11 days of service on duty provided that at the commencement of service no privilege leave may be availed before completion of 11 months of service of duty.

Sick Leave 30 days for each completed year of service subject to a maximum of 18 months (540 days) during the entire service period.

Additional sickness Leave When an officer has put in a service of more than 24 years he/shall; be eligible for additional sickness leave at the rate of one month for each year of service in excess of 24 years subject to a maximum of three months addition sick leave.

Maternity Leave A women officer is entitled for maternity leave for a period not extending 6 ,months on any one occasion 12 months during the entire period of her service.

Extraordinary Leave on loss of pay Not more that 360 days in the entire period of service. As a very special circumstances, the board may grand upto a period of 720 days.

Sabbatical Leave for women Scheme of sabbatical Leave up to 2 years have been introduced to women officers/employees of the bank to meet the special problems/requirements during their service period.

Mandatory Leave Finding of forensic scrutinity-Guidelines for prevention of fraud.

On the job/off the job training During the course of on the job and off the job training, officers on probation will be entitled as under:-

1. When they are required to move outstation, they will be reimbursed as per their entitlement for travel on duty. 2. They will be reimbursed applicable halting Allowance for such journey periods/s 3. No Lodging, Boarding or halting expenses(expect journey period) will be payable to them during the period of their On the Job Training

Pay scale

House Rent Allowance

No Officer shall be entitled as of right to be provided with residental accomodation by the bank.Whenever an officer is provided weith residential accomodation by the bank, a sum equal to 1.20% of the basic pay in the first stage of scsle of pay in which he is placed or the standard rent for the accomodation whichever is less is recovered from the officer.However, if the siad officer is also provided with furniture at such residence,a further sum equal to 0.25% of Basic pay will be recovered by the bank.However,where such residental accomodation is provided by the bank,the charges for electricity,gas and other maintainance charges are to be borne by the officedr, unless otherwise permitted by the Competent Authority.

Holiday Home With a view to extending welfare amenities, bank has opened 14 Holiday Homes as at present at various centers for rest and recuperation of the existing employees and officers of the Bank, accompanied by their wholly dependent family members as well as retired employees/officers of Bank. Employees occupying the Holiday Homes are required to pay a very nominal non refundable [email protected] 6/- per day/per suite for workmen employees and 7/- per day/per suite for officers.Whereever cooking gas is provided,an additional amount of 1/- per day is to be paid. Reseravations are made on first come first serve basis whitin 2 months in advance from the proposed date of commencement of reservation of Holiday Home. However, the applicants are required to give an undertaking To [email protected]/- per day in the event of failing to avail the holiday home facility so booked/not cancelling the booking at least 15 days in advance.

Gratuity a) Gratuity under Allahabad Bank Officers Service Regulation, 1979 Every officer shall be eligible for gratuity on (a) retirement, (b) Death, (C) Disablement rendering him unfit for further service as certified by a medical officer approved by the bank, (d) registration after completing ten years of continuous service, or (e) Termination of service in any other way except by way of punishment, after completion of 10 years of service. b) Gratuity under Payable of Gratuity Act, 1972. Gratuity shall be payable to ab officer on the termination of his employment after he has rendered continuous service for not less tham five years on his (a) superannuation,or (b) retirement or registration,or(v) death or disablement due to accident or diseases. Provided that the completion of continuous service of 5 years shall not be necessary where the Termination of employment of any officer is due to any extra ordinary reason.

Leave Travel Concession 1

During each block of 4 years an officer shall be eligible for leave ravel concession for travel with his dependent family members to his place of domicile once in each block of 2 years. Alternatively, he may travel in one block of two years to his place of domicile and in other block of two years to any place in

2

India by shortest route. Alternatively, an officer, may exercise an option anytime during four years block to surrender and encash his LTC (other than travel go place of domicile) upon which he shall be entitled to receive an among equivalent to 75% of the eligible fare for class of travel by train to which I he is entitled upto a distance of 4500 Kms one way for officers in JMG 1,JMG2 and III and 5500 KMs (one way) for officers in SMG Scale IV and above. An officer opting for encashment of LFC shall prefer the claim for himself and his family members once during the block/term in which such encashment is availed of. The facility of encashment of Privilege Leave while availing LFC is also available while encashing the facility of

3

LFC encashment. The mode and class by which an officer may avail of Leave Travel Concession shall be the same as the officer is normally entitled to travel on transfer and other terms and conditions shall be subject to which the Leave Travel concession may be availed of by an officer, shall be as decided by the Board from time to time provided that wef 1.5.2010 an officer in JMG1 while availing LFC will be entitled to travel by air in the lowest fare economy class in which case the reimbursement will be the actual fare or the fare applicable

to

AC 1st class fare by train for the distance travelled whichever is less. The same rules shall apply when an officer in MMGII and MKM III while availing LFC where the distance is less than 1000 kms. Definition of family i

For the purpose of medical facilities and for the leave fare concession family of an officer shall mean an officers spouse wholly dependent married children including step children and legally adopted children, physically challenged brother/sister with 40% or more disability, as also

ii

parents ordinarily residing with and wholly dependent on the officer. The term wholly dependent child/parent means such members of the family having a monthly income not exceeding Rs. 3500/- per month if the income of one of the parents or the aggregate income of both the parents exceeds Rs. 3500/- per month, the parents shall not be considered dependent on the employee.

SWOT Analysis

Allahabad Bank

Parent Company

Government of India

Category

Bank

Sector

Banking and finance

Tagline/ Slogan

A Tradition of trust

USP

Oldest National Bank

STP

Segment

Individual and Industry Banking

Target Group

All age and earning groups

Positioning

Complete Banking and finance solutions

SWOT Analysis

1. Oldest Nationalised bank with over 2400 branches 2. National and International presence 3. Financial products for all categories of customers from rural to urban Strength

4. Innovative schemes like Retail banking boutique and Saral loans etc

1. Inadequate advertising as compared to leading banks 2. Compliance with government schemes Weakness

3. Limited number of ATM’s and low customer relationship

1. Initiative for self-employment amongst youth Opportunity

2. Internet Banking and other services

1. Economic crisis 2. Stringent measures by RBI Threats

3. Competition from other banks

Competition

Competitors

1. SBI 2. Allahabad bank

3. IDBI

Chapter-3 Research Methodology 1.Research Problem 2.Objective of the study 3.Scope of the study 4.Imporatance of study 5.Limitation of Study 6.Research Design 7.Sampling Technique 8.Sample Area 9. Research Instrument 10.Sample Size

Research methodology

Research methodology is a way to systematically solve the research problems. In it we study the various steps that are generally adopted by a researcher in studying his research problems along with the logic behind them

Research Process Research process consists of series of steps necessary to effectively carry out research and he desired sequencing of these steps.. The following order concerning various steps provides a useful procedural guideline regarding the research processes. 1)

Formulating the research problem

2)

Extensive literature survey

3)

Preparing the research design

4)

Determining the sample design

5)

Collection of data

6)

Execution o the project

7)

Analysis of data

8)

Generalization and interpretation

9)

Presentation of the findings.

1.Research Problem STATEMENT OF THE PROBLEM Quality Work Life means having good supervision, good working conditions, good pay and benefits and an interesting challenging and rewinding job. High quality work life is sought through an employee relations philosophy that encourages the use of quality work life efforts which are systematic attempts by an organization to give workers greater opportunities to affect their jobs and their contributions to the organization’s overall effectiveness. It is the responsibility of the management to develop QWL among the employees to reduce the evil effects of lower level of QWL. Banking is essentially a high contact service industry and there is a close interaction between service provider and the customers in the traditional banking scenario. An attempt will be made to study the quality of work life of employees in Private Sector Commercial Banks.

2.Objective of the study I.

The objective of the study was: to find out whether the quality of work life of employees are growing with

II.

the organization’s growth To find out whether there is adequate and fair compensation for the work rendered, participation of employees in decision making, the welfare measures, and improvement of Quality of Work Life (QWL) and to offer suitable suggestions.

III.

To know the current working conditions in the bank.

IV.

To know employees liking and disliking of certain factors.

V. VI. VII.

To know the working environment in the bank. Too analyze the satisfaction level of the employees. To come up with the strategies to improve quality of work life in the bank.

3.Scope of the study The term Quality of work life in its broader sense covers various aspects of employment and non-employment conditions of work. The present study aim at studying various factors which influence Quality of work life in Allahabad Bank. Although the important components of Quality of work life were comprehensively discussed. The study is dependent on the opinion expressed by the managers and staff that are working.

4.Importance of the study This study will help the bank employees to enhance their satisfaction level as the top management can precisely focus on their actual requirement.

5.Limitations of the study The present study has some degree of human and technical bias, since the study is about individual’s attitude. The information collected depends on the emotional mood of the respondents. In their busy schedule only limited time was spared out to provide the requisite information by the bank employees. Some of the employees were so busy in their work that they had indifferent attitude. It is confined to employees in Allahabad Bank branches of east Delhi region Who may not be true representative of the whole population of employees in the bank. So, this study is a generalization, In spite of all these limitations, the findings may be helpful in increasing job satisfaction and QWL for enhancing performance of the bank.

6.Research Design The research problem having been formulated in clear cut terms, the researcher will be required to prepare a research design i.e. he will have to state the conceptual structure within while research would be conducted. The preparation of such a design facilitates researcher to be as efficient as possible yielding maximum information. Types of Research Design

Different research designs can conveniently described if we categorize them as: (1)

Exploratory research design

(2)

Descriptive and diagnostic research studies

(1) Exploratory Research Design: Exploratory research designs are also termed as formularize research design. The main purpose of such studies is that of formulating a problem for more precise investigation or of developing the working hypothesis from an operational point of view. It is generally carried out by using the following three methods: (1)

Experience or literature survey or discussion with the expert

(2)

Secondary or literature survey

(3)

Study of some specific cases or insight stimulating cases

2) Descriptive Research Design: Descriptive research studies are those studies which are concerned with describing the characteristic of a particular individual, or of a group where as diagnostic research studies concerning whether certain variables that are associated are examples of diagnostic research studies. The design in such studies must be rigid and non flexible and must focus attention on the following: a)

Formulating the objective of the study.

b)

Designing the methods of data collection.

c)

Selecting the sample.

d)

Collecting the data.

e)

Processing and analyzing the data.

f)

Reporting the findings.

For the purpose of my project report “descriptive” type of research design is used.

7.Sample design & Techniques of sampling A sample design is a definite plan for obtaining a sample from a given population.. There are different types of sample designs based on two factors viz. the representation basis and the element selection basis. On the representation basis, the sample may be: 1) Probability sampling or 2) Non - Probability sampling. 1) Probability sampling- With probability samples each element has a known probability of being included in the sample. Probability samples are those that are based on simple random sampling that ensures the law of statistical regularity which states that if on an average the sample chosen is a random one, the sample will have the same composition and characteristics as the universe. 2) Non - Probability sampling - Non-probability sampling is also known as Deliberate sampling, Convenience sampling, Judgment sampling. In this type of sampling items for the sample are chosen deliberately by the researcher; his choice concerning the items remains supreme

Convenience Sampling Convenience sampling (also called haphazard or accidental sampling) refers to sampling by obtaining

units or people who are most conveniently available.

For the purpose of this project non-probability convenience sampling is used. Steps in sampling design While developing a sample design the following points must be considered: (1) Types of universe The first step in developing any sample design is to clearly define the set of objects, technically called the “universe” to be studied. The universe may be finite or infinite. In case of finite universe the number of items is certain whereas in infinite universe the number of items is infinite. In case of finite universe the number of times is certain whereas in infinite universe the number of items is infinite. (2) Sample Size It refers to the number of times to be selected from the universe to constitute a sample. This is the major problem before a researcher. The size of the sample should neither be too large nor too small. An optimum sample is one which fulfills the requirements of efficiency, representativeness, reliability & flexibility.

The sample size taken is 50 (3) Sample Unit A decision has to be taken concerning a sampling unit before selecting sample. Sampling unit may be a geographical one such as state, district, village etc. or it may be an individual.

The Bank employees were the sample unit for the purpose of the study.

8.Sample are & 9 Sample Size

Address/Location

Chief Manger

Manager

Officer

Clerks

Total

no.

of

of the Branch

Employees in

1.Kanti Nagar

1

1

3

8

the branch 13

2.Ananad Vihar

1

1

3

8

13

3.Patparganj

0

1

2

2

5

3.Laxmi Nagar

0

1

3

5

9

4.Geeta Colony

0

1

1

2

4

5.Dilshad Garden

0

1

3

3

7

Total

51

10.Instruments of Research 1.

Primary

afresh

and

Data for

the

Collection:

-Primary

data

first

and

happen

time

thus

are to

those be

which original

are in

collected nature.

The

methods of primary data collection are through.

1)

Observation

2)

Interview method

3)

Questionnaire

4)

Schedules.

Primary data is being collected though the following methods: A) Questionnaire This method of data collection is used particularly in case of big enquiries. It is being adopted by private individuals, research workers, private and public organization and even by government. In this method a questionnaire is sent to the person concerned with a request to answer the questions and return the questionnaire. A questionnaire consists of a number of questions printed or typed in a definite order on and structured questions. B) Personal interview or Face to face method.

A personal interview survey, also called as a face-to-face survey, is a survey method that is utilized when a specific target population is involved. The purpose of conducting a personal interview survey is to explore the responses of the people to gather more and deeper information. Personal interview surveys are used to probe the answers of the respondents and at the same time, to observe the behavior of the respondents, either individually or as a group. C) Observation The observation is the most commonly used method especially in studies relating to behavioral sciences. In a way we all observe things around us, but this sort of observation is not scientific observation. Observation become a scientific tool and the method of data collection for the researcher, when it serves a formulated research purpose, is systematically planned and recorded and is subjected to checks and controls on validity and reliability. (2) Secondary Data Collection Secondary data are those which have already been collected by someone else which have already been passed through the statistical process. The methods of secondary data collection are:1) 2)

Books, magazines and newspapers Reports

and

publications

of

various

business and industry. 3)

Public records and statistics.

Secondary data is being taken from various website

associations

connected

with

Sampling technique

Convenience sampling

Questionare

Mcq’s, dichotomous, open ended and scaled questions 50

Sample Size

:

Samplings Areas

:



Delhi

Sample Unit

:



Bank Employees

Primary Data

:

 

Responses through questionnaires Conducted personal interviews with the respondents.

Secondary Data

:

 

Websites . News papers

Testing Hypothesis Hypothesis A set of proposition or propositions, as set forth as an explanation, for the occurrence of some specified group of phenomenon, either asserted merely as a merely a conjuncture to guide investigation.

Statistical Hypothesis In statistical hypothesis testing two hypotheses are compared, which are called the null hypothesis ( the alternative hypothesis (

H1

H0

) and

). The null hypothesis is the hypothesis that states that there is no relation between

the phenomena whose relation is under investigation, or at least not of the form given by the alternative hypothesis.

The alternative hypothesis, as the name suggests, is the alternative to the null hypothesis: it states that there is some kind of relation. According to the project hypothesis, H 0 = There is a statistical relationship between effectiveness and non-effectiveness of career development program to favor Good QWL at Allahabad Bank H 1 = There is no statistical relationship between the effectiveness and non-effectiveness of career development program to favor Good QWL at Allahabad Bank Expected Effectiveness of Carrier development programs= 35 out of 50, being a majority Expected Non- Effectiveness of Advertising= 15 out of 50.

The testing of Hypothesis is dove via ‘Chi Square Test’, and the following critical value table has been referred. df 1 2 3 4

P = 0.05 3.84 5.99 7.82 9.49

P = 0.01 6.64 9.21 11.35 13.28

P = 0.001 10.83 13.82 16.27 18.47

Where, Df= degree of freedom P= Probability of occurrence. Hypothesis Testing According to the survey, following were the data gathered. Observed Effectiveness of Carrier Development programs in qwl = 18 Observed Non-Effectiveness of Carrier Development program qwl= 32

The Chi Square Test’ is applied as follows.

Chi Square Test A chi-squared test, also referred to as chi-square test or

test, is any statistical hypothesis test in which

the sampling distribution of the test statistic is a chi-squared distribution when the null hypothesis is true, or any in which this is asymptotically true, meaning that the sampling distribution (if the null hypothesis is true) can be made to approximate a chi-squared distribution as closely as desired by making the sample size large enough. Pearson's chi-squared test is the best-known of several chi-squared tests (Yates, likelihood ratio, portmanteau test in time series, etc.) – statistical procedures whose results are evaluated by reference to the chi-squared distribution

2

n

2=¿ ∑

[ O−E ] E

i=1

x

¿

Where, x 2 = probability density function. O= Observed value E= Estimated value n= Degree of freedom Calculation for Chi Square Test For a sample size of 50 people, following was the data collected.

Expected Results

Observed Results

Effectiveness

35

18

Non-Effectiveness

15

32

TOTAL

50

50

According to the formula, n

2=¿ ∑

[ O−E ]2 E

i=1

x

¿

For Effectiveness of Carrier Development program 1

2=¿ ∑

[ 18−35 ]2 35

i=1

¿

x

=

289 35

For Non-Effectiveness of Carrier development program 1

2=¿ ∑

[ 32−15 ]

2

15

i=1

¿

x

=

289 15

Summing For both 289 2891 + 35 15 = 27 .524

Chi Square Table

df 1 2 3 4

P = 0.05 3.84 5.99 7.82 9.49

P = 0.01 6.64 9.21 11.35 13.28

P = 0.001 10.83 13.82 16.27 18.47

Here the degree of freedom was= 2-1=1 Tabulated value of

x

2

and 5% level for 1= 3.84

Since the calculated value

x

2

is greater than the tabulated value, we reject the

H0

, and accept

H1

.i.e.

There is no statistical relationship between the effectiveness and non-effectiveness of Carrier development program to favor QWL at Allahabad Bank.

Chapter-4 Data analysis and interpretation

1. No of years employees are associated with the bank

No of years associated with the bank

0-5

Between 5-10

Between 10-15years

More than 15 years

Interpretation: This can be interpreted from the above chart that 27% of employees are working in the bank from more than 15 years,38% working since 10-15 years,25% employees working since 5-10 years and 10% since less than five years.

2. Work load in the bank.

Work load Very much

Not that much due to working environment

Evenly Distributed

Very less as compared to competitors

Interpretation: This can be interpreted from the above chart that 65% of employees thinks that work load is very much and tasks are not finished on appropriate time,17% thinks that work load is not that much due to participative environment,5% think that work load is evenly distributed and employees are able to complete their task,13% thinks that work load is less as compared to other nationalized and private banks.

3. Working environment in the bank.

Working environment

Participative

Autonomy

Whimsical

Red Tapism

Interpretation: This can be interpreted from the above chart that 55% of employees feels that the working environment is very much participative,22% feels that there is autonomy,13% feels that the working environment is whimsical which means everything is done at the last movement,10% feels that there is red tapism all around the work.

4. Working hours in the bank.

Working hours

Highly satisfactory

Satisfactory

Dissatisfactory

Interpretation: This can be interpreted from the above chart that 87% of employees gaining majority feels that the working hours of the bank is Highly satisfactory,9% feels it is satisfactory and only 4% employees feels that working hours of the bank is dissatisfactory.

5. Are you able to spend quality time with your family?

Yes

No

Interpretation: This can be interpreted from the above chart that 52% of employees say that they are able to spend quality time with their family where as 47% say that the cannot spend quality time with their family as they as posted far from the city where their family lives

6. How hard is it to take off during your work to take care of personal or family matters.

Not at all hard

Some what hard

Not too hard

Very hard

Interpretation: This can be interpreted from the above chart that 37% of employees say that they did not find it too hard to take off during the work to take care of personal matters,23% say that it is somewhat hard to do the same,30% says that it is not too hard and 10 % say it is very hard.

7. After an average work day, about how many hours do you have to relax or pursue activities you enjoy?

>2 hours

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