A PROJECT SYNOPSIS ON

‘A Case Study on Job satisfaction among the employees in Himalaya Gramin Nidhi
Private Limited’.

Submitted in partial fulfilment of the requirements for the reward of

MASTER OF COMMERCE

(SESSION- 2022-2023)

SUBMITTED

TO

INDIRA GANDHI NATIONAL OPEN UNIVERSITY

Maidan Garhi, New Delhi – 110068

SUBMITTED BY

Madhvika Vij

Enrollment No :- 2201352877

Regional Centre:- 11: Shimla (H.P)

Course Code: - MCOP1

PROJECT GUIDE

Dr. Shelly Mahajan

(Counselor of IGNOU)

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 INTRODUCTION

Human Resource Management which is considered to be the most valuable

asset in any organisation, should be utilized to the maximum possible extent in
order to achieve individual and organisational goals. People join organisations
with certain motives like security of income and job, better prospects in future,
and the satisfaction of social and psychological needs. Every person has
different sets of needs at different times. It is the responsibility of management
to recognize this basic fact and provide appropriate opportunities and
environment to people at work to satisfy their needs. The human resources are
not only a factor of production as was thought traditionally, but the building
blocks of an organisation. Thus, the human resource management can play A
very vital role in the achievement of objectives of an organisation as well as in
its sustainability and growth. Therefore, the human resources should be
carefully recruited, selected, inspired, motivated and impelled to contribute their
best in the organisation.

1.1 Concept of Human Resource Management

Human resources are the most important and valuable resources for any
organisation. Human Resource Management is accumulation of human capital
and its effective utilization for the development of economy.

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Human Resource Management may be defined as a continuous process to
ensure the development of employee competencies, dynamism, motivation and
effectiveness in a systematic and planned way. The importance of the right kind
of talent of the human resource was understood by various management
thinkers and many researches and reforms were initiated by them. According to
Leon C. Megginson, 'From the national point of view, human resources may be
defined as the knowledge, skills, creative abilities, talents and aptitudes
obtained in the population; whereas from the viewpoint of the individual
enterprise, they represent the total of the inherent abilities, acquired knowledge
and skills as exemplified in the talents and aptitudes of its employees'.

1.2 Need and Objectives of Human Resource Management

Human Resource Development process is used in each organisation for creation

and development of efficient manpower. The main objective of Human
Resource Management is to attain the determined goals of organisation by
developing the characteristics of human resources which are as follows:

 To maximize the utilization of human resources for the achievement of

individual and organisational goals.
 To provide an opportunity and comprehensive framework for the
development of human resources in an organisation for full expression
their talent and manifest potentials.
 To develop constructive mind and an overall personality of employees.

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1.3 Conceptual Framework of Job Satisfaction

Human resources management practices play a very crucial role in achieving

the organisation's goals and maintaining the competitive advantage. HRM
practices refer to organisational activities directed at managing the pool of
human resource and ensuring that the resources are employed towards the
fulfilment of organisation goals.

Job satisfaction is defined as the level of contentment employees feel

with their job. This goes beyond their daily duties to cover satisfaction with
team members, managers, satisfaction with organizational policies, and the
impact of their job on employees' personal lives. Job satisfaction benefits the
organization includes reduction in complaints and grievances, termination as
well as improved punctuality and worker morale. Job satisfaction is an
important attribute which organisation's desire of their employees. Much of the
research in this area has been based on the explicit assumptions that job
satisfaction is as potential determinant of absenteeism, turnover, in-role job
performance and extra-role behaviours and also that the primary antecedents of
job attitudes are within management's ability to influence. A sizeable amount of
work in the job satisfaction literature has been devoted to developing conceptual
and operational definitions of the job satisfaction construct, including overall or
general job satisfaction and satisfaction with facets of jobs such as the work
itself, co-workers, supervision, pay, working conditions, company policies and
procedures and opportunities for promotion.

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 Job satisfaction is "the extent to which people like (satisfaction) or
dislike (dissatisfaction) their jobs." This definition suggests Job satisfaction is a
general or global affective reaction that individuals hold about their job. While
researchers and practitioners most often measure global Job satisfaction, there is
also interest in measuring different "facets" or "dimensions" or satisfaction.
Examination of these conditions is often useful for a more careful examination
of employee satisfaction with critical conditions. Job satisfaction represents
adperson’s evaluation of his or her job and work context. It is an appraisal of the
perceived job characteristics and emotional experiences at work. Satisfied
employees have a favourable evaluation of their job, based on their
observationsand emotional experiences.

Importance of Job Satisfaction

A satisfied employee is always important for an organization as he/she aims to

deliver the best of their capability. Every employee wants a strong career
growth and work life balance at workplace. If an employee feels happy with
their company & work, they look to give back to the company with all their
efforts.

Importance of job satisfaction can be seen from two perspectives:

 For Employees

Job satisfaction from an employee perspective is to earn a good gross salary,

have job stability, have a steady career growth, get rewards & recognition and
constantly have new opportunities.

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  For Employers

For an employer, job satisfaction for an employee is an important aspect to get

the best out of them.

The positive effects of job satisfaction include:

1. More efficiency of employees of workplace if they are satisfied with their

job.

2. Higher employee loyalty leading to more commitment.

3. Job satisfaction of employees eventually results in higher profits for

Companies.

4. High employee retention is possible if employees are happy.

Job Satisfaction Factors

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 & becomes a burden to the
company. The elements & factors which contribute to job satisfaction are:

 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.

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  Work life balance

Every individual wants to have a good workplace which allow them time to
spend with their family & friends. 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.

 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.

 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.

 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.

 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.

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There are several theories given which help in evaluating & measuring job

satisfaction of employees at workplace. Some of them are:

- Hierarchy of Needs by Maslow

- Hygiene Theory by Herzberg

These help in understanding the parameters or factors which influence job

satisfaction of employees at workplace.

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1.4 An Overview of Himalaya Gramin Nidhi Limited

This company has been formed with primary objective being uplifting of the
social and Financial status of its members by inculcating saving habits amongst
them through the spirit of co-operation, providing technical and financial
support.

The principal function of the society is to render financial services to its

members and to reach the nook and corner of the country through branch
expansion where financial facilities have not reached. The vision of Himalaya
gamin nidhi limited is “public prosperity “by offering financial services to all
groups of people and offering equal opportunity to all, to live an improved life
by financial enablement and empowerment. The mission of the society is to
create self sufficient sustainable ecosystem of members through co-operation.

The society is to enable financial inclusion by providing affordable financial

services to the under-privileged and socially excluded community, and inculcate
the savings habit among the common man through innovative low cost financial
products and services using co-operative principles.

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 RATIONALE OF THE STUDY

The study is very important from any organization prospective. This study is
very useful as it helps to understand employee’s perspective towards Himalaya
Gramin Nidhi limited. It is significant to study whether employees are satisfied
or dissatisfied, committed or not committed in their job because it has been
proven that employees who are much more satisfied will more likely to show
positive thoughts, feelings, and actions towards their job and it would increase
their organizational commitment. It is also important to study the relationship
between Job Satisfaction and Organizational Commitment because this may
bring a huge benefit equally to employers and employees. The study helped in
revealing the level of satisfaction of employees concerning the various factors
provided in the organization. This study clearly shows that employees under
organization are more or less satisfied with the job. The organization should
consider the salary, relationship of employees and supervisors, grievance
handling, and give more opportunities to the new employees.

I choose this topic because Himalaya Gramin Nidhi Limited is one of the
Reputed Private Sector. This Nidhi deals with many of the fields in finance. It is
not easy to get data from this bank. So I met with employees through employee
survey.

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 REVIEW OF LITERATURE

The relevant literature needs to be reviewed to explore the theoretical

foundation behind job satisfaction and various aspects pertaining to it. This
attempt also focuses on analysing and understanding the extent of the impact of
job satisfaction and prevalent Human resource practices on organisational
commitment. A variety of studies aimed at capturing various dynamics of job
satisfaction. Present chapter deals with the various studies conducted on job
satisfaction in India and abroad and conclude with research gap on the basis of
reviewed literature. It is, therefore, the need of the hour to review the research
work and literature carried out by different scholars and policy makers. The
crux of the various studies carried out on job satisfaction is as follows:

Ayesha, Mohsin (2015) in their study titled, "The Effects of Intrinsic and
Extrinsic Rewards on Employee Attitudes; Mediating Role of Perceived
Organisational Support", measured the effect of intrinsic and extrinsic rewards
on employee attitudes, job satisfaction and organisational commitment as well
as the mediating role of perceived organisational support. In the study the
mediation effect of perception of organisational support was analyzed between
the relationship of intrinsic & extrinsic rewards and employee attitudes like
organisational commitment and job satisfaction.

Priyanka Khanna and Manu Sehgal (2016) in their study entitled, "A Study
of HRM Practices and its effect on Employees Job Satisfaction in Private Sector
Banks with Special Reference to ICICI Banks in Ludhiana", examined and
analysed the effect of human resource management practices on job satisfaction
of employees of private sector bank.

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The study, identified that the HRM practices like Training, Performance
Appraisal, Team Work and Compensation has significant impact on job
satisfaction. Further, Employee Participation has no significant impact on job
satisfaction of the employees of ICICI banks in Ludhiana city.

J. du Plessis, Nalinh D. and Dodd (2016) in their study titled, "HRM in

relation to employee motivation and job performance in the hospitality
industry", found out that the performance of employees in hotel organisations
can be measured by their attentiveness, their friendliness, their appearances,
their attitudes, and the way they carry out and perform their assigned tasks. The
study concluded that the employees felt their organisations create the conditions
whereby they are motivated to work harder.

Ezzat & Ehab and Luz et al. (2018) in their study titled, ‘It evaluate the
returns that measured by satisfaction of salaries and promotions, employee’s
level of comfort with colleagues and superiors, and the amount of tasks
assigned to the employee. Another factor that affects job satisfaction is
emphasis on the influence of leadership style. As such, employees are expected
to develop high-quality relationships between supervisors and employees, so
it is expected that a more positive emotional state will increase satisfaction and
will create employee happiness.
Franczukowska et al. (2021) in their study titled, ‘In dealing with the
complexities of job satisfaction variables, managers must be able to
improve strategies to increase employee job satisfaction and motivate
employees with appropriate policies.
(Kukah et al. 2022) in their study entitled, ‘The purpose of this
study is to know about the major themes and the scientific approaches, explain
how they can be identified in terms of co-authorship, co-occurrence, and
citations to clearly demonstrate.

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 RESEARCH METHODOLOGY

Research methodology provides an empirical and logical basis for data

collection, data analysis and thereafter to make a logical conclusion and
suggestions. For the accomplishment of the objectives of the present study; both
primary as well as secondary data have been used.
The method adopted to conduct this study may be classified in to 2 types. The
information has been gathered through two sources.

1. Primary data.
2. Secondary data.

1. Primary data;- The primary data has been collected through personal
interview and by observation and training through visiting.

2. Secondary data;- Sources of secondary data like;- newspaper,

magazines, books, internet are collected.

Data Collection

 The data was collected from the employees working in different

departments at the HGNL.
 Ethical issues were taken into consideration for the purpose of protecting
the participants from any harm and ensuring confidentiality as well as
anonymity.
 An informed consent was added prior to the survey link to assure that the
respondent has given his consent to participate in the study based on
his/her full awareness about the details of the study in terms of the

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 purpose, procedures, duration, risks and benefits.
 The data will be collected using both by primary data as well as
secondary sources. The size of the representative sample is 50 only.
 The tools used in this study were MS-WORD, MS-EXCEL.
MS-EXCEL will be used to prepare pie charts, Bar diagrams. MS-
WORD will be used to prepare or write the whole project report.

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 OBJECTIVES OF THE STUDY

The present study has been undertaken mainly to evaluate the perceptions of
employees of HGNL on Job satisfaction with the following objectives:-

(1) To examine the relationship between the job satisfaction level of

employees with selected demographic variables and to identify the factors
that influence the job satisfaction level.

(2) To evaluate the existing human resource policies of the corporation.

(3) To study the level of organisational commitment.

(4) To ascertain and analyse factors causing occupational stress.

(5) To make suggestions on the basis of findings to improve the satisfaction

level of employees.

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 LIMITATIONS OF STUDY

All feasible efforts have been made to make the study more reliable, valid and
exhaustive, yet certain limitations could not be ruled out. Main limitations of the
study are as follows:

 The present study is based on data collected through questionnaire from

HGNL employees. Therefore, it suffers from all limitations inherited as it
is the case of any study on the perception and view point of the
respondents and the possibility of personal bias cannot be ruled out.
 Due to limitations of time the research could not be made more detailed
 The sample size of the present study is small. It can be attributed to time
and resource constraints and the reluctance on the part of employees to
fill in the questionnaire perhaps because of sensitivity of the information
and fear of repercussion.
 There was fear of reprisal among the employees as they were initially
reluctant and unwilling to disclose some information about the
management and to reveal their personal feeling thus the results may not
reflect the actual satisfaction level.

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 SCOPE OF THE PROJECT WORK

The project work will be divided into the following chapters:

Chapter -1

Introduction of job satisfaction of employees.

Chapter-2

Company profile

Chapter-3

Research methodology

Chapter -4

Data analysis & Interpretation

Chapter-5

Suggestion & Conclusion

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 REFERENCES

1. Ayesha, Mohsin (2015), The Effects of Intrinsic and Extrinsic Rewards

on Employee Attitudes; Mediating Role of Perceived Organisational
Support. Journal of Service Science and Management, 8 , pp.461-470.
2. Priyanka Khanna and Manu Sehgal (2016), A Study of HRM Practices
and its effect on Employees Job Satisfaction in Private Sector Banks with
Special Reference to ICICI Banks in Ludhiana. A Publisher for Research
Motivation, Vol. 4, Issue 7, pp. 36.
3. J. du Plessis, Nalinh D. and Dodd (2016), HRM in relation to employee
motivation and job performance in the hospitality industry. Journal of
International Business Research and Marketing, Vol. 1, Issue 4, pp.12-
21.
4. Ezzat & Ehab and Luz et al. (2018), It evaluate the returns that measured
by satisfaction of salaries and promotions, employee’s level of comfort
with colleagues and superiors, and the amount of tasks assigned to the
employee. Review of Economics and Political Science.
5. Franczukowska et al. (2021), In dealing with the complexities of job
satisfaction variables, managers must be able to improve strategies
to increase employee work attitudes : an empirical analysis from
Austria. Leadership in Health Services.
6. Kukah et al. (2022), Critical review of emotional intelligence research
studies in the construction instrustry. Journal of Engineering, Design and
Technology.

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