CHAPTER 1

INTRODUCTION
 1.1 INTRODUCTION
Job satisfaction describes how content an individual is with his or her job. It is a relatively
recent term since in previous centuries the jobs available to a particular person were often
predetermined by the occupation of that person's parents. There are a variety of factors that
can influence a person's level of job satisfaction. Some of these factors include the level of
pay and benefits, the perceived fairness of the promotion system within a company, the
quality of the working conditions, leadership and social relationships, the job itself (the
variety of tasks involved, the interest and challenge the job generate, and the clarity of the
job description/requirements). The happier people are within their job, the more satisfied
they are said to be. Job satisfaction is not the same as motivation, although it is Clearly
linked. Job design aims to enhance job satisfaction and performance methods include job
rotation, job enlargement and job enrichment. Other influences on satisfaction include the
management style and culture, employee involvement, empowerment and autonomous
workgroups. Job satisfaction is a very important attribute which is frequently measured by
organizations. The most common way of measurement is the use of rating scales where
employees report their reactions to their jobs.
Job satisfaction is a topic of wide interest to both people who work in organizations and
people who study them. The traditional model of job satisfaction focuses on all the findings
that an individual has about his /her job. However, what makes a job satisfying or
dissatisfying does not depend only on the nature of the job but also on the expectations that
individuals have of what their job should provide. Satisfied employee is inclined to be more
industrious, inspired, and dedicated to their work.
Job satisfaction results from the exchange of personal factors, such as principles, character
and opportunity with employment factors such as the impression of the work situation and
the job itself. Today's work environment is changing very fast. There are a number of factors
which are constantly presenting new opportunities and challenges for people like improved
technology, growth of economies and globalization. Due to these changes, the perception of
people about their job is also challenging. In this changing era, the success of any
organization depends upon its human resources. Satisfied and committed employees are
very significant assets of any organization including banks. Job satisfaction is the internal
feeling of a person after performing his work. The feeling would be positive or negative
depending upon the satisfaction and dissatisfaction of the need. There is a lot of difference
between satisfaction, motivation and morale. Motivation refers to the internal willingness to
work. Satisfaction, on the other hand, implies a general attitude towards work and work
environment.
Importance of Job Satisfaction
Job Satisfaction is a must for the employees to perform well in the organization. It impacts
an employee's motivational level and also helps determine the company's turnover in the
long run. Looking after the employee's needs and satisfaction is a must for the overall
efficiency and smooth function of an organization. Job Satisfaction plays an important role
in implying the Organization's performance and success. Employee satisfaction leads to
employee enrichment which affects employee retention, customer loyalty, productivity, and
profitability.

Workforce helps to determine the future of the organization. It is extremely important to

make sure that these assets are taken care of. Organizational growth is highly dependent on
the retention of the right kind of employees. The health of an organization is highly
dependent on the health of the employees. Job satisfaction leads to job engagement and
increases the employee's dedication and commitment to the organization. Their morale
towards the organization increases to a great extent. Hence, the employees are encouraged to
focus on their career development within the same organization and prevent them from
leaving the firm for a better offer in the future. It helps to ensure the maximum workforce. it
also helps to establish a strong relationship among co-workers and helps to ensure a
cohesive working environment. The negativity and role conflicts in the workplace can get
easily eliminated and it can help establish a sense of togetherness among people. Job
satisfaction helps in reducing absenteeism among employees and allows one to eliminate
lethargic attitude among the employees. Job satisfaction allows them to keep a hold of their
crucial and high valued employees and prevent them to lose them to their competitors in the
market. On an overall basis, one can say that job satisfaction indicates the development of
the organization and provides them a competitive advantage over other organizations in the
market.
Incentives
Incentives are important to initiate job satisfaction among employees. They ensure to
increase the motivational level of the employees and create a sense of belonging within
them. The incentives can be divided into monetary and non - monetary incentives and each
of them is important. There has always been a conflict as to which incentives have a greater
impact on the employee's enrichment level and while few studies suggest monetary
incentives others say that non - monetary incentives are the most important,the modern
organization is highly dependent on Incentives. Individuals do respond to incentives and
through research, it has been inferred that the response occasionally varies with respect to
the kind of incentives provided.Infect, it has been proven that the incentives are the most
important factors and they tend to mould the behaviour of the people in the future. It helps
to shape their attitude towards the organization and its people to a great extent.

There are different factors on which job satisfaction depends.

Important among them are discussed here under:

(i) Personal Factors:

They include workers' sex, education, age, marital status and their personal characteristics,
family background, socio-economic background and the like.

(ii) Factors Inherent in the Job:

These factors have recently been studied and found to be important in the selection of
employees. Instead of being guided by their co-workers and supervisors, the skilled workers
would rather be guided by their own inclination to choose jobs in consideration of "what
they have to do'. These factors include- the work itself, conditions, influence of internal and
external environment on the job which are uncontrolled by the management, etc.

(iii) Factors Controlled by the Management:

The nature of supervision, job security, kind of work group, wage rate, promotional
opportunities, and transfer policy, duration of work and sense of responsibilities are factors
controlled by management. All these factors greatly influence the workers. These factors
motivate the workers and provide a sense of job satisfaction.

Though performance and job satisfaction are influenced by different sets of factors, these
two can be related if management links rewards to performance. It is viewed that job
satisfaction is a consequence of performance rather than a cause of it.

Satisfaction strongly influences the productive efficiency of an organization whereas

absenteeism, employee turnover, alcoholism, irresponsibility, non- commitment are the
result of job dissatisfaction. However, job satisfaction or dissatisfaction forms opinions
about the job and the organization which result in boosting up employee morale.
 1.2 SCOPE OF THE STUDY

● T
 his study helps the researcher to understand the factor that affect the job satisfaction
and how the employees satisfied with their job. Also get to know the role of rewards
on job satisfaction level.

● By this study the company can understand how to satisfy their employees on the job
and identify how to motivate the employees to show their maximum level of work.

● By this study employees can show their satisfaction toward the job. Also share their
needs and wants.
 1.3 OBJECTIVE OF STUDY

● To understand the level of satisfaction of employees in the company.

● To find out whether the work environment influences job satisfaction.

● To know the motivational techniques affects the level of job satisfaction.

● To study the role of remuneration and incentives on job satisfaction.

 1.4 LIMITATIONS OF THE STUDY

● The cost and time were limiting factors in this research work.

● The study was based on questionnaire method hence, it is limited to data collection

● The entire population could not be covered due to time constraints.

● The usual hindrance was in collection of data like non-response, errors is in

consistent response are being faced.