INTRODUCTION TO THE TOPIC

 CONCEPTUAL BACKGROUND OF THE TOPIC

Job satisfaction is one of the most prominent variables in organization behavior. It is employee’s
attitudinal response to his or her organization. Job satisfaction is the way to measure how much
loyal and committed an employee towards his/her organization. Job satisfaction has been defined
in many different ways. There are some keys like Salary, Job engagement, Job security, Job
rotation, Job enrichment, Job environment which help to measure employee satisfaction. On the
other hand organization managerial style and culture has great effect on job satisfaction. Job
satisfaction of employees in an organization is the indicator of organizational future.

There are two sectors of job. One is public sector another one is private sector. There are
differences available in public and private organization. So the elements/indicators of job
satisfaction are also varying in public and private organization. Because of management, Job
environment and most importantly the job empowerment are totally different in these two
sectors.

Employee is considered to be the crucial resource of all resources available for the organization.
Studying and identifying factors related to job satisfaction among employees is input in
formulating future policies and plans of the organizations. Job satisfaction is an important
ingredient for increased productivity and contribution in the work.

It is the most frequently studied variable in organizational behavior research, and also a central
variable in both research and theory of organizational phenomena ranging from job design to
supervision (Spector, 1997).

Dawis and Lofquist (1984) defined job satisfaction as the result of the worker’s appraisal of the
degree to which the work environment fulfills the individual’s needs.

1
Lease (1998) defines Job satisfaction as the degree of an employee’s affective orientation
towards the work role occupied in the organization.

Dunnette and Locke, (1976) Job satisfaction may be defined as a pleasurable or positive
emotional state resulting from the appraisal of one’s job or job experiences.

JOB SATISAFACTION

Job satisfaction is one of the important factors that have drawn attention of the organization as
well as academicians. In view of the rising competition as a result of globalization, managers
have placed great importance on the construct of Job satisfaction. This may be due to the
findings of many studies that Job satisfaction is a significant determinant of organizational
commitment. Highly satisfied employees will exert extra effort and contribute positively to the
effectiveness and efficiency of their organizations. Job satisfaction will lead to better
performance and the employees will be more committed towards their organization. Hence,
the theoretical concept of framework is presented to have the conceptual clarity about Job
satisfaction.

Meaning and Definition of Job Satisfaction:-

Job satisfaction refers to an individual's complex attitude towards his Job. It is a pleasurable
emotional state resulting from the appraisal of one's Job as achieving as facilitating the
achievement of one's Job value. According to Vroom (1964) the term Job' refers to Workers
immediate work task and work role in a particular work organization.

2
 As a generic concept, Satisfaction may be described in a behavioral perspective. Individual or
organizational behaviour is believed to be goal directed. Each human action has a primary
motivation and most actions attempt to maximize satisfaction by fulfilling multiple motivation,
some of which are identified by Maslow (Maslow, 1943).

 Sources of job satisfaction

Several job elements contribute to job satisfaction. The most important amongst them are
wages structure, nature of work, promotion chances, policies of the supervision, work group
and working conditions.

(1) Wages:

Wages play a significant role in influencing Job satisfaction. This is because of two reasons.
First, money is an important instrument in fulfilling one's needs and two employees often see
pay as a reflection of management's concern for them. Employees want a pay system which is
simple, fair, and in line with their expectations. When pay is seen as fair, based on Job
demands individual skill level, and community pay standards satisfaction is likely to result.
What needs emphasis is that it is not the absolute amount paid that matters, rather it is one's
perception of fairness.

(2) Nature of work:

Most employees crave for intellectual challenges on Jobs. They tend to prefer being given
opportunities to use their skills and attitudes and being offered a variety of tasks, freedom, and
feedback on how well they are doing. These characteristics make Jobs mentally challenging.
Jobs that have too little challenge create boredom. But too much challenge creates frustration

3
 and a feeling of failure. Under condition of moderate challenge, employees experience
pleasure and satisfaction.

(3) Promotions:

Promotional opportunities affect Job satisfaction considerably. The desire for promotion is
generally strong among employees as it involves change in Job content, pay. Responsibility,
independence, status and the like. An average employee in a typical government organization
can hope to get two or three promotion in his entire service, though chances for promotion are
better in the private sector. It is no surprise as the ultimate achievement in his career is
realized, he feels extremely satisfied.

(4) Supervision:

There is a positive relationship between the quality of supervision and Job satisfaction.
Supervisor who establish a supportive personal relationship with subordinate and take a
personal concern in them contribute to their employees satisfaction.

(5) Work group:

The work group plays a significant role in providing satisfaction to individual employees. It
does so, primarily by providing group members with opportunities for interaction with each
other. It is well known that, for many employee's work fills the need for social interaction.

(6) Working conditions:

Working conditions that are compatible with an employee's physical comfort and that
facilitate doing a good Job contribute to Job satisfaction. Temperature, humidity ventilation,
lighting and noise, hours of work, cleanliness of the work place and adequate tools and
equipment are the features which affect job satisfaction

4
(7) Organizational Policies and Procedures:

Organizational policies include the basis for effecting promotions (seniority versus merit)
transfer of people, foreign assignments, lay off and retrenchment appraisal and reward
systems, motive mental methods, skill based versus Job based, pay and the like.

 Dimensions of Job Satisfaction:

(1) Job satisfaction refers to ones feeling towards one's Job. It can only be inferred but not
seen.

(2)Job satisfaction is often determined by how well outcomes meet or exceed expectations.
Satisfaction in one's Job means increased commitment in the fulfilment for formal
requirements. There is greater willingness to invert personal energy and time in Job
performance.

(3)The terms, Job satisfaction and Job attitudes are typically used interchangeably. Both refer
to effective orientation on the part of individuals towards their work roles which they are
presently occupying. Positive attitudes towards the Job are conceptually equivalent to Job
satisfaction and negative attitudes towards the Job indicate Job dissatisfaction.

 Factors of employee satisfaction:-

Job satisfaction is related to the psychology of an employee. A happy & content employee at a
job is always motivated to contribute more. On the other hand, a dissatisfied employee is
lethargic, makes mistakes & become a burden to the company. The elements & factors which
contribute to job satisfaction are:-

5
(1) Compensation & working conditions:

One of the biggest factors of job satisfaction are the compensation and benefits given to an
employee. An employee with a good salary, incentives, bonuses, healthcare options etc. is
happier with their job as compared to someone who doesn’t have the same. A healthy
workplace environment also adds value to an employee.

(2) Work life balance:

Every individual wants to have a good workplace which allow them time to spend with their
family & friend’s .Job satisfaction for employees is often due a good work life balance policy,
which ensures that an employee spends quality time with their family along with doing their
work. This improves the employee’s quality of work life.

6
(3) Respect & Recognition:

Any individual appreciates and feels motivated if they are respected at their workplace. Also,
if they are awarded for their hard work, it further motivates employees. Hence recognition is

one of the job satisfaction factors.

(4) Job security:

If an employee is assured that the company would retain them even if the market is turbulent,
it gives them immense confidence . Job security is one of the main reasons for job satisfaction
for employees.

7
(5) Challenges:

Monotonous work activities can lead to dissatisfied employees. Hence things like job rotation,
job enrichment etc. can help in job satisfaction of employees as well.

(6) Career Growth:

Employees always keep their career growth part as a high priority in their life. Hence, if a
company helps groom employees and gives them newer job roles, it enhances the job
satisfaction as they know they would get a boost in their career.

HISTORY AND PROSPECTIVE OF THE ORGANIZATON

8
 The Kangra Central Cooperative Bank Limited is established in the 17-03-1920.
 The bank began operation in 17/03/1920 with a simple mission: to be a

“WORLD – CLASS INDIAN BANK “.

 The Kangra Cooperative Bank Ltd. started in a very humble way as a small Thrift/Credit
Society in March, 1960 by a few friends of District Kangra of Himachal to help out the
people of Himachal residing in Delhi to uplift their economic conditions and tide over the
financial hardships. Dedication, sincerity and honesty of these members/associates brought
rich fruits and this Thrift/Credit Society grew up into a big society within twelve years after
its formation and successful running was converted into a primary urban Cooperative Bank in
1972 by RBI and was permitted to carry out banking activities including acceptance of
deposits from public (non- members) by opening their Saving, Current and RD A/c’s.
Twenty three years there from in June 1995 it was granted a license to carry out the banking
business by the Reserve Bank of India. Thereafter, it was granted license to open branches
and consequently six more branches were added in February, May, December 1996, June
1998 ,October 2008 and the last one in July 2009. In May, 1970 it purchased Paharganj
building and reconstructed the same in 1993. In October, 1997 it purchased the present
premises at Janakpuri to set up administrative and HO. Central accounts and Personnel
department are functioning from this building. It has a board meeting room. One branch also
function here. The main branch along with its service branch, arbitration and recovery
department is situated in its own three storied building at Paharganj. It purchased another
Building in April 2008 At Jagatpuri where it’s one of the existing Branches has already been
functioning.
 The Kangra Central Cooperative Bank Limited is a major Indian private bank with its
headquarter in Dharamshalla. The Kangra Central Cooperative Bank Limited provides all the
financial services including saving accounts , current accounts , deposit , safe deposit
lockers , personal loans , home/car loans , two wheelers loans , education loans , debit/credit
cards , prepaid cards , demate accounts , insurance , forex , premier banking ,and more . On
the website we can easily pay bills , make credit card payments , transfer funds , access net
banking and much more .

9
 It also Provides all the Financial services to its customer like fixed deposit , recurring
deposit, PPF account , SMS banking , lockers , net banking , mobile banking , RTGS ,
NEFT , IMPS , E-Wallet , Atal Pension Yojana , Pradhan Mantri Jandhan Yojana , Pradhan
Mantri Suraksha Bima Yojana , Pradhan Mantri Jeevan Jyoti Bema Yojana and many more .
 Bank enjoys GRADE ‘A’ audit classification since long . GOVT. of NCT of Delhi gave to
the Bank ‘Best Bank Award’ for the years 2004-5 , 2007-8, 2009-10 and 2011-12.
 All the branches are fully computerized with CBS . The implementation of CTS , NEFT /
RTGS , ATM have already been done .
 For its employees bank has introduced several good schemes like cover of mediclaim
insurance, covering expenses upto 3.00 Lacs requiring hospitalization of the employee ,
his or her spouse & upto 2 childrens . Facility of housing loan upto fifty Lacs is also available
for the staff . It has in place well defined services rules which ensure career growth to its
employees. It also celebrates annual day in which awards for best branch , worker etc. are
also given . In order to improve the knowledge of the staff guest lectures are also arranged
on important topics related to the banking activities from time to time .
 At present Bank is providing services through 218 branches in 5 districts of Himachal
Pradesh namely :-
 Kangra
 Hamirpur
 Una
 Kullu
 Lahaul Spiti
 HISTORY OF KCC BANK
 Came into existence on 17th March 1920.
 Indora Banking Union was merged and 2nd Branch of the bank opened at Nurpur in JAN’
1956.
 Palampur Banking Union was merged and 3 rd Branch of the Bank opened at Palampur in
JAN’1957 .
 Nanaon Banking Union was merged and 4 th Branch of the Bank opened at Hamirpur in
OCT’1958.
 The Bank suffered losses because of the partition in 1947 to the tune of Rs. 10.64 Lacs.

10
 In March 1962 , the bank suffering from the setback of partition was granted Rs. 4.09 Lacs
by the Government.
 Government also provide Interest Free Releif Loan of Rs.3.98 Lacs and Government of
INDIA loan of Rs. 4.97 Lacs @3.87% in 1962 in 1971-72.
 The Bank entered into the deposit mobilization of Pong Dam Area aggressively and secured
maximum share of Deposit Bank Deposits increased from Rest. 256 Laces in 1971-72 to
Rest. 1054 Laces in 1973-74

 SCOPE OF THE BANK

 KCC BANK LTD. Offers a bunch of products and services to meet the every need of the
people. The company cares for both , individuals as well as corporate and small and medium
enterprises. For individuals , the company has a range Account , Investment , pension scheme
, different types of loans and card that assist the customers. The customer can choose the
suitable one from a range of products which will suit their life-stage and needs . For
Organization the company has a host of customized solutions that range from funded services
, Non – funded services , Value addition services , Mutual fund etc.
 These affordable plans apart from providing long term value to the employees help in
enhancing goodwill of the company.

 The products of the company are categorized into various sections which are as follows :
*Account and deposit
*Loan
*Cards
*Payment service
*Customer center
*Investment and Insurance

11
 BUSINESSES

KCC Bank offers a wide range of commercial and transactional banking services and
treasury products to wholesale and retail customers. The bank has three key business
segments:

(1) WHOLE SALE BANKING SERVICES:-

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian
corporate to small & mid-sized corporate and agri-based businesses. For these customers, the
Bank provides a wide range of commercial and transactional banking services, including
working capital .finance, trade services, transactional services, cash management, etc. The bank
is also a leading provider of structured solutions, which combine cash management services with
vendor and distributor finance for facilitating superior supply chain management for its corporate
customers. Based on its superior product delivery / service levels and strong customer
orientation, the Bank has made significant inroads into the banking consortia of a number of
leading Indian corporate including multinationals, companies from the domestic business houses
and prime public sector companies. It is recognized as a leading provider of cash management
and transactional banking solutions to corporate customers, mutual funds, stock exchange
members and banks.

(2) RETAIL BANKING SERVICES:-

The objective of the Retail Bank is to provide its target market customers a full range of
financial products and banking services, giving the customer a one-stop window for all his/her
banking requirements. The products are backed by world-class service and delivered to the
customers through the growing branch network, as well as through alternative delivery
channels like ATMs, Phone Banking, Net Banking and Mobile Banking.

12
 The KCC Bank Preferred program for high net worth individuals, the KCC Bank Plus and the
Investment Advisory Services programs have been designed keeping in mind needs of
customers who seek distinct financial solutions, information and advice on various investment
avenues. The Bank also has a wide array of retail loan products including Auto Loans, Loans
against marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading
provider of Depository Participant (DP) services for retail customers, providing customers the
facility to hold their investments in electronic form.

 WORK PLACE TRANSFORMATION:-

“Focus on effective work place organization believe in“ Small changes lead to
large improvement”
> Every successful organization have their own strategy to win the race in the competitive
market. They use some technique and methodology for smooth running of business. KCC
BANK also acquired the Japanese technique for smooth running of work and effective work
place organization.

 Five ‘S’ Part of Kaizen is the technique which is used in the bank for easy and systematic
work place and eliminating unnecessary things from the work place.

 BENEFIT OF FIVE “S”

> It can be started immediately.

> Everyone has to participate.
> Five “S” is an entirely people driven initiatives.
> Brings in concept of ownership.
> All wastage are made visible.

13
  SORT - SEIRI
 SYSTEMATIZE - SEITON
 SPIC-N-SPAN - SEIRO
 STANDARDIZE - SEIKETSU
 SUSTAIN - SHITSUKE

 Objective: “A place for everything and everything in its place”.

(1) SORT: It focus on eliminating unnecessary items from the work place. It is excellent
way to free up valuable floor space. It segregate items as per “require and wanted”.
(2) SYSTEMATIZE: Systematize is focus on efficient and effective Storage method. That
means it identify, organize and arrange retrieval. It largely focus on good labeling and
identification practices.
(3) SPIC- n - SPAN: Spic-n-Span focuses on regular clearing and self-inspection. It brings
in the sense of ownership.

(4)STANDERDIZE: It focuses on simplification and standardization. It involves standard

rules and policies. It establish checklist to facilitate autonomous maintenance of workplace. It
assigns responsibility for doing various jobs and decides on Five S frequency.

(5) SUSTAIN: It focuses on defining a new status and standard of organized work place.
Sustain means regular training to maintain standards developed under S-4. It brings in self-
discipline and commitment towards workplace organization.

14
 HUMAN RESOUCE PHILOSOPHY

The Bank continued to focus on training its employees, both on-the-job as well as through
training programs conducted by internal and external faculty. The Bank has consistently
believed that broader employee ownership of its shares has a positive impact on its
performance and employee motivation. KCC Bank lists ‘people’ as one of its stated core
values. The Bank believes in empowering its employees and constantly takes various measures
to achieve this.

 Employees in The KANGRA CENTRAL COOPERATIVE BANK LTD. are the most
valuable resource and development of business and of employees must go hand in hand.

15
 Every employee is special and unique in his own field and has infinite potential to make
contribution to the organization.
 Merit is the most important criteria for recruitment and reward.
 Creativity and innovation in technology and management through people is the competitive
edge.
 HR processes facilitate consistent improvement in performance, productivity and
effectiveness through mutually agreed stretched targets.
 Continuously strive to improve quality of work-life for total job satisfaction and social
harmony for the employees.
 HR prepares people to accept and adapt to change and learning as a way of life.
 HR promotes high standards of disciple at the workplace and compliance with the laws of the
land.
 To remain the service leader in cooperative.

 QUALITY POLICY

 Quality shall be built into the bank’s products to not only meet customer requirements
continuously but exceed them. The bank shall achieve this though an interface with the
market place, access to state-of-the-art technology, R & D, Process Development and
adoption of innovative manufacturing and marketing strategies.
 The quality policy shall be implemented through a network of systems and procedures
understood and followed throughout the bank.

16
 SECURITY:-The bank provides long term financial security to their policy. The bank does
this by offering life insurance and pension products.
 TRUST:-The bank appreciates the trust placed by their policy holders in the bank. Hence, it
will aim to manage their investments very carefully and live up to this trust.
 INNOVATION:-Recognizing the different needs of our customers, the bank offers a range
of innovative products to meet these needs.

17