Employee motivational, Assignments of Human Resource Management

Download Employee motivational and more Assignments Human Resource Management in PDF only on Docsity! SUMMER TRAINING PROJECT REPORT On “A Study on Motivation of Employees at HDFC Bank, Aminabad Lucknow” Towards partial fulfillment of Master of Business Administration (MBA) School of Management, Babu Banarasi Das University, Lucknow Submitted by Meenakshi Singh Roll No.1160672075 IIIrd Semester Session 2017-2018 School of Management Babu Banarasi Das University Sector I, Dr. Akhilesh Das Nagar, Faizabad Road, Lucknow (U.P.) India i | P a g e Certificate from the Organization iv | P a g e EXECUTIVE SUMMARY The Summer Training study on employee motivation helps to get clear picture about the factors which motivates the employees. This in turn helps the management to formulate suitable policy to motivate the employees. Hence, the motivational level of the employees may also change. Motivation in simple terms may be understood as the set of forces that cause people to behave in certain ways. A motivated employee generally is more quality oriented. Highly motivated worker are more productive than apathetic worker one reason why motivation is a difficult task is that the workforce is changing. Employees join organizations with different needs and expectations. Their values, beliefs, background, lifestyles, perceptions and attitudes are different. Not many organizations have understood these and not many HR experts are clear about the ways of motivating such diverse workforce. Now days employees have been hired, trained and remunerated they need to be motivated for better performance. Motivation in simple terms may be understood as the set or forces that cause people to behave certain ways. People are motivated rewards something they can relate to and something they can believe in. Times have changed People wants more. Motivated employees are always looking for better ways to do a job. It is the responsibility of managers to make employees look for better ways of doing their jobs. Individuals differ not only in their ability to do but also in their will to do, or motivation Managers who are successful in motivating employees are often providing an environment in which appropriate goals are available for needs satisfaction. Retaining and motivating workers requires special attention and the responsibility falls squarely on the shoulders of HR as well as managers and supervisors at all level. v | P a g e They have to create a work environment where people enjoy what they do, feel like they have a purpose and have pride in the mission of the organization. It requires more time, more skill, and managers who care about people. It takes true leadership. By giving employees special tasks, you make them feel more important. When your employees feel like they are being trusted with added responsibilities, they are motivated to work even harder so they won‟t let the company down. Motivation is essential for any company because employee is Asset of company. Motivation is important for the growth of employees as well as growth of the organization. HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has 84,325 employeesand has a presence in Bahrain, Hong Kong and Dubai.HDFC Bank is India‟s largest private sector lender by assets.It is the largest bank in India by market capitalization as of February 2016.It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands. Scope of the Study  The present study on employee motivation helps to get clear picture about the factors which motivates the employees. This in turn helps the management to formulate suitable policy to motivate the employees. Hence, the motivational level of the employees may also change.  The factors that motivate the employees may change with change in time because the needs of employees too change with change in time. So continuous monitoring and close observation of factors that motivate the employees is necessary to maintain a competent work force. Only with a vi | P a g e competent work force an organization can achieve its objective. Moreover, human resource is the most valuable asset to any organization. A further study with in dept analysis to know to what extent these factors motivate the employees is required. Objectives of the Study 1. To Study the motivation of employees at HDFC Bank, Aminabad Lucknow. 2. To study the various factors which affect the motivational level of Employees in HDFC Bank Aminabad. 3. To study the working conditions provided by the HDFC Bank Aminabad. 4. To study the Opinion of the employees with regard to job security. Conclusion Employee motivation is a very important in the human resource management. Employees are motivated for various reasons that are beneficial to the organization. The reason includes retention of well-performing employees, increasing productivity or output of the organization; improve team work or morale of the employees. Other reason are reducing the operation cost, deceasing employees turnover and reducing absenteeism. This study shows a review of various researches in terms of associations between reward and incentives and low productivity of employees. Incidentally, there are two kinds of reward which are identifying the intrinsic reward and extrinsic reward. Current research showed that incentives and benefits are affecting the employees motivation and when the motivation level of employees will be decreasing, obviously, 1 | P a g e INTRODUCTION 2 | P a g e INTRODUCTION The term “Employee Motivation” was brought to limelight by Hoppock. According to him, Employee Motivation is the combination of psychological, physiological and environmental factors that makes a person to admit, “I am happy at my job”. It has also been defined as the „end state of feeling‟. It is an important dimension of morale and not morale itself. CONCEPT OF EMPLOYEE MOTIVATION: Employee Motivation is the end feeling of a person after performing a task to the extent that a person‟s job fulfills his dominant needs and is consistent with his expectations and values, the job will be satisfying. The feeling would be positive or negative depending upon whether need is satisfied or not. Employee motivation is different from motivation and morale. Motivation refers to the willingness to work. Satisfaction on the other hand, implies a positive emotional state. Morale implies a general attitude toward work and work environment. It is a group phenomenon where as employee motivation is an individual feeling. Employee Motivation may be considered a dimension of morale and morale could also be a source of satisfaction. Thus Employee Motivation is an employee‟s general attitude towards his job. 3 | P a g e HOW TO MEASURE EMPLOYEE MOTIVATION Like intelligence, measure of employee motivation is difficult. Most studies have measured employee motivation through a questionnaire. Hoppock developed four terms, each one with seven alternative responses, developed one of the earliest scale of measuring employee motivation. In India, Pestonjee developed a S-D (satisfaction-dissatisfaction) inventory consisting of cointerogatery statements, the items leading to yes-no type of responses. There are four areas including both on job and off the job factors. Each area includes 20 items some of which are given below: 1. Job: Nature of work, hours, fellow workers, overtime regulations, physical environment, machines and tools, interest in work, opportunities for promotion and advancement etc. 2. Management: Rewards and punishment, praise and blame, leave policy, test as a whole reveled significant discriminatory potential. Favoritism, participation, supervisory treatment, etc. 3. Social Relations: Neighbors, friends and associates, caste barriers, participation in social activities, attitude toward people in community, etc. 4. Personal Adjustment: Health, home and living conditions, finances, relation with family members, emotionalism, etc. Statically treatments of the individual item in the four areas are given above. 6 | P a g e achievement, recognition, advancement, responsibility, and the work itself tend to provide satisfaction but their absence does not cause dissatisfaction. Where the job is less repetitive and there is variation in job content, employee motivation tends to be higher. 2. Occupational Level: The higher the level of the job in organization hierarchy the greater the satisfaction of the individual. These is because positions at higher levels are generally better paid, more challenging and provide greater freedom of operation. Such jobs carry greater prestige, self-control and need satisfaction 3. Pay and Promotion: All other things being equal, higher pay and better opportunities for promotion lead to higher employee motivation. 4. Work group: Man is a social animal and likes to be associated with other‟s interaction in the work group help to satisfy social psychological needs and, therefore, isolated worker tend to be dissatisfied. Employee motivation is generally high when an individual is accepted by his peer and he has a high need for affiliation. 5. Supervision: Consideration supervision tends to improve employee 7 | P a g e motivation of workers. Considerate supervisor takes personal interest of his subordinates and allows them to participate in the decision making process. Personal Factors: Personal life exercises a significant influence on employee motivation. The main elements of personal life are given below: 1. Age: Some research studies reveal a positive correlation between age and employee motivation. Workers in advanced age group tend to be more satisfied probably because they have adjusted with their job conditions. However, there is a sharp decline after a point perhaps because an individual aspires for better and more prestigious jobs in the later years of his life. 2. Sex: One study revealed that women are less satisfied than men due to fewer job opportunities for females. But female workers may be more satisfied due to their lower occupational aspirations. But this statement may not be applicable now at present‟s level. 3. Educational level: Generally more educated employees tend to be less satisfied with their jobs probably due to their higher job aspirations. However, research does not yield conclusive relationship between these 8 | P a g e two variables. 4. Marital status: The general impression is that married employees are more dissatisfied due to their greater responsibilities. But such employees may be more satisfied because they value their jobs more than unmarried workers. 5. Experience: Employee motivation tends to increase with increasing years of experience. But it may decreases after twenty years of experience particularly among people who have not realized their job expectations. THEORIES OF EMPLOYEE MOTIVATION The main theoretical approaches to employee motivation are as follows: 1. Need fulfillment theory. 2. Equity theory. 3. Discrepancy theory. 4. Equity discrepancy theory. NEED FULFILLMENT THEORY~ According to this theory a person is satisfied when he gets from his job what he wants. The more he wants something or the more important it is to him, the more satisfied he is when he received it. In other words, “employee motivation will vary 11 | P a g e difference between the outcomes that one perceives he actually received and outcomes that one feels he should receives in comparison with others, when the individual feels that what he actually received is equal to what he perceives he should received there is satisfaction. Thus an individual‟s reception of his reward is influenced by more than just the objective amount of that factor. Because of this psychological influence the same amount of reward often can be seen quite differently by two people, to one it can be a larger amount, while to another person it can be a small amount. A positive motivation philosophy and practice should improve "productivity, quality and service." Motivation helps people to:  achieve goals  gain a positive perspective  create the power to change  build self-esteem and capability  manage their own development and help others with theirs The word motivation is coined from the Latin word "movere", which means to move. Motivation is defined as an internal drive that activates behavior and gives it direction. The term motivation theory is concerned with the processes that describe why and how human behavior is activated and directed. It is regarded as one of the most important areas of study in the field of organizational behavior. There are two different categories of motivation theories such as content theories, and process theories. Even though there are different motivation theories, none of them are universally accepted. 12 | P a g e Motivational Concepts Reward and Reinforcement A reward is that which follows an occurrence of a specific behavior with the intention of acknowledging the behavior in a positive way. A reward often has the intent of encouraging the behavior to happen again. There are two kinds of rewards, extrinsic and intrinsic. Extrinsic rewards are external to, or outside of, the individual; for example, praise or money. Intrinsic rewards are internal to, or within, the individual; for example, satisfaction or accomplishment. Some authors distinguish between two forms of intrinsic motivation: one based on enjoyment, the other on obligation. In this context, obligation refers to motivation based on what an individual thinks ought to be done. For instance, a feeling of responsibility for a mission may lead to helping others beyond what is easily observable, rewarded, or fun. A reinforce is different from reward, in that reinforcement is intended to create a measured increase in the rate of a desirable behavior following the addition of something to the environment. Intrinsic and Extrinsic Motivation Intrinsic motivation is evident when people engage in an activity for its own sake, without some obvious external incentive present. A hobby is a typical example. Intrinsic motivation has been intensely studied by educational psychologists since the 1970s, and numerous studies have found it to be associated with high educational 13 | P a g e achievement and enjoyment by students. There is currently no "grand unified theory" to explain the origin or elements of intrinsic motivation. Most explanations combine elements of Bernard Weiner's attribution theory, Bandura's work on self-efficacy and other studies relating to locus of control and goal orientation. Thus it is thought that students are more likely to experience intrinsic motivation if they: 1. Attribute their educational results to internal factors that they can control (eg. the amount of effort they put in, not 'fixed ability'). 2. Believe they can be effective agents in reaching desired goals (eg. the results are not determined by dumb luck.) 3. Are motivated towards deep 'mastery' of a topic, instead of just rote-learning 'performance' to get good grades. Note that the idea of reward for achievement is absent from this model of intrinsic motivation, since rewards are an extrinsic factor. In knowledge-sharing communities and organizations, people often cite altruistic reasons for their participation, including contributing to a common good, a moral obligation to the group, mentorship or 'giving back'. This model of intrinsic motivation has emerged from three decades of research by hundreds of educationalists and is still evolving. (See also Goal Theory.) In work environments, money is typically viewed as an important goal (having food, clothes etc.) may well be more powerful than the direct motivation provided by an enjoyable workplace. Coercion The most obvious form of motivation is coercion, where the avoidance of pain or other negative consequences has an immediate effect. Extreme use of coercion is considered slavery. While coercion is considered morally reprehensible in many philosophies, it is widely practiced on prisoners, students in mandatory schooling, 16 | P a g e Interests Theory Holland Codes are used in the assessment of interests as in Vocational Preference nventory (VPI; Holland, 1985). One way to look at interests is that if a person has a very strong interest in one of the 6 Holland areas, then obtaining outcomes in that area will be very strongly reinforcing relative to obtaining outcomes in areas of weak interest. Abraham Maslow’s “Need Hierarchy Theory” : One of the most widely mentioned theories of motivation is the hierarchy of needs theory put forth by psychologist Abraham Maslow. Maslow saw human needs in the form of a hierarchy, ascending from the lowest to the highest, and he concluded that when one set of needs is satisfied, this kind of need ceases to be a motivator. As per his theory this needs are : 17 | P a g e (i) Physiological needs : These are important needs for sustaining the human life. Food, water, warmth, shelter, sleep, medicine and education are the basic physiological needs which fall in the primary list of need satisfaction. Maslow was of an opinion that until these needs were satisfied to a degree to maintain life, no other motivating factors can work. (ii) Security or Safety needs : These are the needs to be free of physical danger and of the fear of losing a job, property, food or shelter. It also includes protection against any emotional harm. (iii) Social needs : Since people are social beings, they need to belong and be accepted by others. People try to satisfy their need for affection, acceptance and friendship. (iv) Esteem needs : According to Maslow, once people begin to satisfy their need to belong, they tend to want to be held in esteem both by themselves and by others. This kind of need produces such satisfaction as power, prestige status and self-confidence. It includes both internal esteem factors like self-respect, autonomy and achievements and external esteem factors such as states, recognition and attention. (v) Need for self-actualization : Maslow regards this as the highest need in his hierarchy. It is the drive to become what one is capable of becoming, it includes growth, achieving one‟s potential and self-fulfillment. It is to maximize one‟s potential and to accomplish something. As each of these needs are substantially satisfied, the next need becomes dominant. From the standpoint of motivation, the theory would say that although no need is ever fully gratified, a substantially satisfied need no longer motivates. So if you want to 18 | P a g e motivate someone, you need to understand what level of the hierarchy that person is on and focus on satisfying those needs or needs above that level. Maslow‟s need theory has received wide recognition, particularly among practicing managers. This can be attributed to the theory‟s intuitive logic and ease of understanding. However, research does not validate these theory. Maslow provided no empirical evidence and other several studies that sought to validate the theory found no support for it. “Theory X and Theory Y” of Douglas McGregor : McGregor, in his book “The Human side of Enterprise” states that people inside the Reliance Communication can be managed in two ways. The first is basically negative, which falls under the category X and the other is basically positive, which falls under the category Y. After viewing the way in which the manager dealt with employees, McGregor concluded that a manager‟s view of the nature of human beings is based on a certain grouping of assumptions and that he or she tends to mold his or her behavior towards subordinates according to these assumptions. 21 | P a g e Examples of Hygiene factors are : Security, status, relationship with subordinates, personal life, salary, work conditions, relationship with supervisor and Reliance Communication policy and administration. Examples of Motivational factors are : Growth prospectus job advancement, responsibility, challenges, recognition and achievements. Self-determination theory Self-determination theory, developed by Edward Deci and Richard Ryan, focuses on the importance of intrinsic motivation in driving human behavior. Like Maslow's hierarchical theory and others that built on it, SDT posits a natural tendency toward 22 | P a g e growth and development. Unlike these other theories, however, SDT does not include any sort of "autopilot" for achievement, but instead requires active encouragement from the environment. The primary factors that encourage motivation and development are autonomy, competence feedback, and relatedness. McClelland’s Theory of Needs David McClelland has developed a theory on three types of motivating needs : 1. Need for Power 2. Need for Affiliation 3. Need for Achievement Basically people for high need for power are inclined towards influence and control. They like to be at the center and are good orators. They are demanding in nature, forceful in manners and ambitious in life. They can be motivated to perform if they are given key positions or power positions. In the second category are the people who are social in nature. They try to affiliate themselves with individuals and groups. They are driven by love and faith. They like to build a friendly environment around themselves. Social recognition and affiliation with others provides them motivation. People in the third area are driven by the challenge of success and the fear of failure. Their need for achievement is moderate and they set for themselves moderately difficult tasks. They are analytical in nature and take calculated risks. Such people are motivated to perform when they see atleast some chances of success. 23 | P a g e McClelland observed that with the advancement in hierarchy the need for power and achievement increased rather than Affiliation. He also observed that people who were at the top, later ceased to be motivated by this drives. Equity Theory As per the equity theory of J. Stacey Adams, people are motivated by their beliefs about the reward structure as being fair or unfair, relative to the inputs. People have a tendency to use subjective judgment to balance the outcomes and inputs in the relationship for comparisons between different individuals. Accordingly : If people feel that they are not equally rewarded they either reduce the quantity or quality of work or migrate to some other Reliance Communication. However, if people perceive that they are rewarded higher, they may be motivated to work harder. 26 | P a g e Motivation by REWARDS 1. Create incentive-laden pay scales (less output = less pay, more output = more pay). 2. Create a sales contest (if applicable) with several prizes to go to the top performers. 3. Create clear work objectives and goals for workers to pursue in order to earn salary increments (no performance= no raise). 4. If workers know they must perform to achieve good salary increases, this will motivate them to work hard. 5. Remind workers of what they will get for their efforts. 6. Create incentives attached to predetermined objectives and tasks. 7. Create a generous bonus structure with a benchmark that may seem unreachable, then watch them reach it. 8. Give special rewards to top performers on a regular basis. 9. If workers don‟t perform to expectations, hold them accountable by giving them no raise, no bonus, or no promotion. 10. Offer extra holiday time for outstanding performers (make sure that workers know about the incentive well in advance). 11. Don‟t pass out rewards evenly to all employees in an effort to include everyone. This demotivates the instrumentally motivated person. 12. Be fair! These workers will watch closely to see what the consequences are of everyone‟s actions. 13. Follow through on all of your promises. 14. Remind workers which tasks will be most important for their performance evaluations. 27 | P a g e Motivation by REPUTATION 1. Give workers lots of feedback about the way they are performing. 2. Give praise in front of other people (the more people that know they did well the better!). 3. Criticize these individuals only in private (never in front of others). 4. Give unsolicited compliments and positive reinforcement to workers for jobs with which you are satisfied. 5. Tell your workers that you appreciate the work they do. 6. Make sure that you give credit to everyone that contributes (never leave people out when they make an impact). 7. Give out certificates of appreciation to anyone who does extraordinarily well for the company. 8. Recognize the outstanding performers in the group at every staff meeting. 9. Consider starting an employee recognition system (employee of the month, department employee of the month). 10. Put up pictures and biographies of all your employees in a central place. 11. Include unique pieces of information about each employee and change these items from week to week (example: favorite ice cream flavor, worst day ever, thing that I‟m most proud of, etc.). 12. At companywide meetings, create and announce serious and fun “superlatives” (example: hardest worker, cleanest car, spiffiest dressed, most versatile, cleanest shoes, most 13. athletic, most reliable). 28 | P a g e Motivation by CHALLENGE 1. Stay out of their way and let them do the work if they know how to do it. 2. Assign tasks that require their skills and talents. 3. Find out what they think is their best skill and encourage them to use this with the tasks you assign. 4. Find out what area this person wants to most improve in and find ways for them to work on this skill. 5. Find ways to help them to continually develop their abilities. 6. Avoid assigning mundane tasks to these workers. 7. Play devil‟s advocate and challenge them by saying, “I‟m not sure if you are up to this challenge, but…” 8. Give them a challenge, then get out of their way. 9. Give them autonomy to structure and perform their job as they see best. 10. Don‟t insult them by asking them to do something that just about anybody could do (they need to know that they are uniquely qualified to do it). Motivation by PURPOSE 1. Communicate the purpose of tasks that are being assigned. 2. Make sure the company has a vision and mission that it is pursuing. 3. Communicate the organization‟s vision and purpose on a daily basis. 4. Refer to the purpose of the organization and “why we exist” when outlining strategies and goals. 5. Remind employees who depends on this organization to succeed (families, communities, industry, producers). 6. Discuss why (in terms of contributing to the mission) things need to occur. 31 | P a g e Review of Literature Bruce and Pepitone (1999) propose an interesting viewpoint according to which managers cannot motivate employees; managers can only influence what employees are motivated to do. The role of facilitating quality subordinate-superior communication at various levels effectively employing a wide range of communication channels has been praised by Shields (2007) in terms of its positive contribution in boosting employee morale. Shields (2007) stresses two specific advantages of such a practice that relate to offering employees a chance to raise their concerns and put across their points regarding various aspects of their jobs, as well as, supplying them with the feeling of engagement and appreciation. According to Lockley (2012) offering training and development programs that effectively contributes to personal and professional growth of individuals is another effective employee motivation strategy. At the same time, Lockley (2012) warns that in order for motivational aspects of training and development initiatives to be increased, ideally they need to be devised and implemented by a third party with relevant competency and experience. Alternative working patterns such as job-rotating, job-sharing, and flexible working have been branded as effective motivational tools by Llopis (2012). Moreover, Llopis (2012) argues that motivational aspects of alternative working patterns along with its other benefits are being appreciated by increasing numbers of organisations, however, at the same time; many organisations are left behind from benefiting from such opportunities. 32 | P a g e An interesting viewpoint regarding the issue has been proposed by Wylie (2004), according to which members of management primarily should be able to maintain the level of their own motivation at high levels in order to engage in effective motivation of their subordinates. Accordingly, Wylie (2004) recommends managers to adopt a proactive approach in terms of engaging in self-motivation practices. Furthermore, Wylie (2004) recommends concentrating on specific variations of intangible motivational tools such as celebrations of birthdays and other important dates with the participation of whole team According to Thomas (2009) the main challenge of motivation in workplaces is identifying what motivates each individual employee taking into account his or her individual differences. In other words, individual differences have been specified by Thomas (2009) as the major obstruction for management in engaging in employee motivation in an effective manner. Lockley (2012), on the other hand, addresses the same issue focusing on cross- cultural differences between employees in particular. Namely, culture can be explained as knowledge, pattern of behaviour, values, norms and traditions shared by members of a specific group (Kreitner and Cassidy, 2012), and accordingly, cross- cultural differences is perceived to be a major obstruction in the way of successful employee motivation. This point has been explained by Lockley (2012) by insisting that certain practices such as engaging in constructive arguments and dialogues in workplace can prove to be highly motivational for the representatives of Western culture, whereas the same 33 | P a g e set of practices can prove to be counter-productive for employees from Asian countries due to vast cross-cultural differences. Llopis (2012) draws attention to the increasing relevance of the work-life balance problem for modern employees and stresses its negative impact on the level of employee motivation. Specifically, Llopis (2012) reasons that unless employees achieve an adequate level of work-life balance in personal level, management investment on the level of employee motivation can be wasted. This viewpoint is based on Hierarchy of Needs theoretical framework proposed by Abraham Maslow (1943), according to which there is a certain hierarchy for individual needs, and more basic human needs need to be satisfied in order for the next level needs to serve as motivators. 36 | P a g e Our business philosophy is based on four core values - Customer Focus, Operational Excellence, Product Leadership and People. We believe that the ultimate identity and success of our bank will reside in the exceptional quality of our people and their extraordinary efforts. For this reason, we are committed to hiring, developing, motivating and retaining the best people in the industry. Company Background Industry Finance - Banks - Private Sector. Business Group HDFC Group Incorporation Date 31/12/1994 Public Issue Date 31/12/1995 Face Value 10.0000 Company/Business Registration No INE040A01018 Key Officials CEO Aditya puri 37 | P a g e Departments of HDFC Bank Aminabad Cash 2 members Operations 1 member Forex 1 member Customer Services 2 members Fixed Deposit 2 members Operations manager 1 member Clearing Department 3 members Credit 3 members Token system Cheque Drop box Objective of HDFC BANK Aminabad The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability. 38 | P a g e HISTORY HDFC Bank was incorporated in the year of 1994 by Housing Development Finance Corporation Limited (HDFC), India's premier housing finance company. It was among the first companies to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank commenced its operations as a Scheduled Commercial Bank in January 1995 with the help of RBI's liberalization policies. In a milestone transaction in the Indian banking industry, Times Bank Limited (promoted by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in India. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. In 2009 HDFC Bank acquired Centurian bank of Punjab taking its total branches to more than 1,000. The amalgamated bank emerged with a strong deposit base of around Rs. 1,22,000 crore and net advances of around Rs. 89,000 crore. The balance sheet size of the combined entity is over Rs. 1,63,000 crore. The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic reach, and customer base, and a bigger pool of skilled manpower. HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its 41 | P a g e ABOUT THE BANK HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined to accomplish the vision of becoming a world-class Indian bank. HDFC‟s business philosophy is based on four core values - Customer Focus, Operational Excellence, Product Leadership and People. They believe that the ultimate identity and success of bank will reside in the exceptional quality of people and their extraordinary efforts. For this reason, they are committed to hiring, developing, motivating and retaining the best people in the industry. Why HDFC is better …? 1. Investment returns: investment returns and business growth provided by HDFC is validated by bajaj Capital report. HDFC pacify the need of invertors up to healthy level and make the strong relationship with them. 2. Financial Background and Experience: HDFC existing in the market since 1977. It has a very handsome experience in the field of finance because it completely involved in finance Sector only where as the others are running in many other field also like Reliance (Petroleum, Textile, Telecom etc.) 3. Ethics and Values: HDFC is an ethical and cultural organization which prevents the false selling and prohibit the false commitment to the customer. 4. Sales Force: Properly trend licensed and Educated People are the strength of the company. So that they could give the best customer service. 5. Huge branch network HDFC is having 450 branches in all over the country. 6. Online accessibility : It makes the process faster and make the customer delighted. 42 | P a g e MISSION AND BUSINESS STRATEGY:- Mission of HDFC is to be "a World Class Indian Bank", benchmarking themselves against international standards and best practices in terms of product offerings, technology, service levels, risk management and audit & compliance. The objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments, and to achieve a healthy growth in profitability, consistent with the Bank's risk appetite. They are committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance. Business strategy of HDFC emphasizes the following:  Increase market share in India‟s expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service.  Leverage technology platform and open scalable systems to deliver more products to more customers and to control operating costs.  Maintain the current high standards for asset quality through disciplined credit risk management.  Develop innovative products and services that attract targeted customers and address inefficiencies in the Indian financial sector.  Continue to develop products and services that reduce cost of funds  Focus on high earnings growth with low volatility. 43 | P a g e BOARD OF DIRECTORS PERSON DESIGNATION Mr. Jagdish Capoor Vice President Mr. Aditya Puri Managing Director Mr. Paresh Sukthankar Executive Director Mr. Harish Engineer Executive Director Mr. Keki M. Mistry Director Mr. Ashim Samanta Director Mr. Arvind Pande Director Mrs. Renu Karnad Director Mr. C M Vasudev Director Mr. Gautam Divan Director Dr. Pandit Palande Directo 46 | P a g e PRODUCT OF HDFC BANK ACCOUNT & DEPOSITS SERVICE Banking should be effortless. With HDFC Bank, the efforts are rewarding. No matter what a customer's need and occupational status, we have a range of solutions that are second to none. Whether you're employed in a company and need a simple Savings account or run your own business and require a robust banking partner, HDFC Bank not only has the perfect solution for you, but also can recommend products that can augment your planning for the future. It includes these services: - 1. Saving accounts. 2. Current accounts. 3. Fix deposits. 4. Demate account. 5. Safe deposits lockers. 47 | P a g e SAVINGS ACCOUNTS These accounts are primarily meant to inculcate a sense of saving for the future, accumulating funds over a period of time. Whatever person‟s occupation, bank have confident that person will find the perfect banking solution. There some saving accounts like: - Regular Saving Account: An easy-to-operate savings account that allows you to issue cheques, draw Demand Drafts and withdraw cash. Check up on your balances from the comfort of your home or office through Online Banking, Phone Banking and Mobile Banking. If you need money urgently then you can take money from the ATM machine. There are 1977 ATM centres across the country. SAVING PLUS ACCOUNT Introducing the best banking option for you with HDFC Bank Savings plus Account. Now you can get access to some of the finest banking facilities with HDFC Bank's Savings plus Account. All you have to do is maintain an Average Quarterly Balance of Rs. 10,000/-. SAVING MAX ACCOUNT Welcome to a world of convenience. Presenting Savings Max account, loaded with maximum benefits to make your banking experience a pleasure. By maintaining an average quarterly balance of just Rs. 25,000/- you get a host of premium services from HDFC Bank absolutely free. 48 | P a g e SENIOR CITIZEN ACCOUNT HDFC Bank appreciates your needs and endeavours, which is why, they present an account especially dedicated to customer, which like a dutiful child will help you fulfil your needs in the best manner possible. NO FRILLS ACCOUNT In an effort to make banking simpler and more accessible for customers, bank has introduced the 'No Frills' Savings Account, which offers customer all the basic banking facilities. Customer can even avail of services like Online Banking, Mobile banking free of cost. In this customer can put Zero Initial Pay-in and a Zero Balance account INSTITUTIONAL SAVING ACCOUNTS A specially designed account that offers twin benefits of a savings as well as a current account. Customer‟s funds continue to earn you interest while he enjoys hassle-free banking & a host of other features. All this and more in a Zero Balance account. SALARY ACCOUNTS In this account customer can get salary from where he/she doing such job and organization or company at where the customer of the bank in doing job deposit their salary in to the salary account a person can get salary. 51 | P a g e cheque book facility & FREE inter-city clearing transactions across our network up to Rs.25 Lacs per month. A Current Account with the benefits of accessing account from a large network of branches, and through direct access channels - the phone, mobile, Internet and through the ATM. REGULAR CURRENT ACCOUNT A Current account is ideal for carrying out day-to-day business transactions. With the HDFC Bank Regular Current Account, customer can access account anytime, anywhere, pay using payable at par cheques or deposit cheque at any HDFC bank branch. It also facilitates FREE NEFT transactions & FREE RTGS collections for faster collections in account. Regular Current Account requires to maintain an average quarterly balance of only Rs. 10,000. With a vast network of branches in cities all over the country, and access to a multitude of ATM's, customer can keep track of all transactions anytime. REIMBURSEMENT CURRENT ACCOUNT No more paperwork, no more receipts to keep track of - a hassle-free account that allows deposit the reimbursements receive from company/organization on a monthly basis. To open this account a person has to follow these processes: Procure an Account Opening Document (AOD) from HDFC Bank. (If person has just joined, first request to company to open up a Salary Account for particular person). Mention Salary Account number and Debit Card number on the AOD so that Debit card can be linked to both, Salary Account as well as new Reimbursement Account. Request company to directly credit cash payments to the Reimbursement Account. 52 | P a g e RFC – DOMESTIC ACCOUNT Full name of this account is Resident foreign currency account. Have you accumulated foreign currency from travelling abroad frequently? Received gifts from relatives in foreign currency? Or earned it by any other means as approved by the Reserve Bank of India? If so, open Resident Foreign Currency Domestic Account and manage foreign currency efficiently. Person can choose to set up your account either in US Dollar, Great Britain Pound or Euro. To open this accounts a person as to follow this process: - Choose the currency in which person wish to operate. Open account with an initial amount as per the following-US Dollar = 250 Great Britain Pound = 200 Euro = 250 and maintain an Average Quarterly Balance of the same amount. FLEXI CURRENT ACCOUNT Tired of static transaction limits during peak seasons? HDFC Bank Flexi Current Account is the answer to changing banking needs during peak seasons. With HDFC Bank Flexi Current Account Cash Deposit and Anywhere Transaction limits are a multiple of the balance you maintain in Current Account. So, during peak seasons, customer get the benefit of higher transaction limits due to the higher average balances maintained in account. What‟s more, during lean seasons, person need not worry about maintaining huge balances to enjoy high transaction limits, which person anyway may not need. Flexi Current Account requires to maintain a minimum Average Monthly Balance (AMB) of just Rs. 75,000. 53 | P a g e APEX CURRENT ACCOUNT The top position is always the desirable position. With the Apex current account, take business to a new high. On maintaining an average quarterly balance of Rs. 10 lakhs, this account makes sure person make the most of every business opportunities coming his way. Unlimited, free, anywhere Banking experience at the APEX is reserved for person who joints this. . MAX CURRENT ACCOUNT Maximum benefits and minimum hassles for customer with Max Current Account with a Rs. 5 lakhs average quarterly balance requirement, bank present to world of privileges that helps business expand and grow. Features like maximum free transaction limits including other beneficial features on this current account truly enhances business potential to the Maximum. FIX DEPOSITS SERVICE Long-term investments form the chunk of everybody's future plans. An alternative to simply applying for loans, fixed deposits allow to borrow from own funds for a limited period, thus fulfilling needs as well as keeping savings secure. People can invest his/her money into either in security market or gold or mutual fund or into a fix deposits. People always go to that way where he/she can get more benefits and minimum risks. So, for this purpose he has a better chance to deposits money in to the fix deposit. If people believe in long-term investments and wish to earn higher interests on his/her savings, now is the time to invest money in HDFC bank Fixed Deposit. Get up to 9.75% on HDFC Bank Fixed Deposit with an additional 0.50% for Senior Citizens. What's more NO PENALTY if withdraw part of the FD in times of need. Flexibility, Security and High Returns all bundled into one offering. 56 | P a g e alternative delivery channels like ATMs, Phone Banking, Online Banking and Mobile Banking. HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit card business in late 2001. By March 2010, the bank had a total card base (debit and credit cards) of over 13 million. The Bank is also one of the leading players in the “merchant acquiring” business with over 70,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments. The Bank is well positioned as a leader in various net based B2C opportunities including a wide range of internet Banking services for Fixed Deposits, Loans, Bill Payments, etc. TREASURY:- Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. These services are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio. INTERNET BANKING SYSTEM SECURITY: - LOGIN SECURITY: Access to customer's Online Banking account is granted using a Customer ID and IPIN (internet Banking password) that is privy to the customer. Without a valid IPIN corresponding to the customer ID, access to customer account cannot be gained by anyone. 57 | P a g e The customer's Online Banking service is revoked if not in use by customer for more than 180 days for security. IPIN SECURITY: IPIN is randomly generated by the system and directly printed on tamper proof media such that it is not accessible by anyone other than the customer. Customer is forced to change his IPIN such upon first login such that customer is assured that IPIN is not compromised before delivery. IPIN is stored by the Bank by use of encryption technology such that it is not accessible to anyone including the system administrator. SESSION SECURITY: Access to the customers are provided through a secure webpage that encrypts the session between the customer's computer and the webpage using 128-bit encryption so that the communication between the customer's computers and the webpage cannot be intercepted by anyone over the internet.HDFC Bank systems time out the customer's login sessions to his Online Banking account upon prolonged inactivity for protection against misuse. DIGITAL CERTIFICATE: The webpage of the HDFC Bank's internet Banking server is identified by means of a digital certificate provided by Verisign to ensure its customer that they are on the correct site and protect themselves from revealing their confidential account information on some fake website. VIRTUAL KEYBOARD: Customer can use the feature of Virtual Keyboard while logging into his Online Banking account. This protects the users IPIN from being compromised by key logger software installed on untrusted/shared computers e.g. cyber cafes. 58 | P a g e INSTA ALERT: The Bank has Insta Alert service to send SMS/ Email alert to the customer upon registration for defined transaction denominations and while adding beneficiary/ies for carrying out Third Party Transfer transactions. SECURITY SOLUTIONS: All banking systems are secured using state-of-the- art security solutions acknowledged world wide viz, firewalls, intrusion detection systems, intrusion prevention systems, anti-malware systems to extend secure banking services to our customers. SECURITY TEAMS: The Bank has robust processes, skilled people and competent service providers who monitor the security of our systems round the clock. FINANCIAL INSTITUTIONS & TRUSTS  Banks.  Financial Institutions.  Mutual Funds.  Stock Brokers.  Insurance Companies.  Commodity Businesses.  Trusts. GOVERNMENT SECTOR HDFC Bank acts as an active medium between the government and the customers by means of various services. These services include:  Tax Collection wherein customers can directly pay their taxes like Direct taxes, Indirect taxes and Sales Tax collections at their local HDFC Bank. 61 | P a g e OBJECTIVES OF THE STUDY 1. To Study the motivation of employees at HDFC Bank, Aminabad Lucknow 2. To study the various factors which affect the motivational level of Employees in HDFC Bank Aminabad. 3. To study the working conditions provided by the HDFC Bank Aminabad 4. To study the Opinion of the employees with regard to job security 62 | P a g e RESEARCH METHODOLOGY 63 | P a g e RESEARCH METHODOLOGY Type of research Descriptive research. Sample Universe HDFC Bank, India Sample Area HDFC Bank, Aminabad Lucknow. Sample Unit Employees of HDFC Bank, Aminabad Sampling size 50 Employees of HDFC Bank, Aminabad Lucknow. Sample Technique Random Sample Technique Instrumentation technique Interview, questionnaire Sources of data collection Primary data was collected by conducting Interview and secondary data was collected from magazines, books, and internet. DATA COLLECTION SOURCE: Two methods have been used to collect the relevant data, which are essential for the study, they are: Primary Data: data is collected to obtain desired information through structured questionnaire. 66 | P a g e Data Analysis & Interpretation Table 1: Age of the respondents S. No Options No. of respondents Percentage (%) 1. Below 25 9 18 2. 25 to 35 29 58 3. 36 to 40 5 10 4. 41 and above 7 14 Total 50 100 Chart 1: Age of the respondents INTERPRETATION: The above table inferred the age of the respondents. 58% of the employees fall under the age group of 25-30, 18% of the employees fall under 25, 14% of employees fall under 14 and above and 10% employees fall under the age group of 36-40. 9 29 5 7 0 5 10 15 20 25 30 35 Below 25 25 to 35 36 to 40 41 and above Age of the respondents 67 | P a g e Table 2: Experience of the respondents S. No Options No. of respondents Percentage (%) 1. Below 1 year 4 8 2. 1 to 4 year 25 50 3. 5 to 10 year 13 26 4. Above 10 years 8 16 Total 50 100 Chart 2: Experience of the respondents INTERPRETATION: The above table shows the experience of the respondents. 50% of the employees have attained 1-4 year of experience , 26% of the employees have attained 5-10 years of experience, 16% of employees are have experience above 10 years and 8% of them are below 1 year. 4 25 13 8 0 5 10 15 20 25 30 Below 1 year 1 to 4 year 5 to 10 year Above 10 years Experience of the respondents Series1 68 | P a g e Table 3 Education of the respondents: S. No Options No. of respondents Percentage (%) 1. UG 23 46 2. PG 24 48 3. Others 3 6 Total 50 100 Chart 3: Education of the respondent INTERPRETATION: The above table inferred the education of the respondents. 48% of the respondents have completed PG, 46% of the respondents have completed UG, 6% of the respondents have not completed. 23 24 3 0 5 10 15 20 25 30 UG PG Others Education of the respondent 71 | P a g e Table.6: Satisfaction with regard to salary drawing at present S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 2 4 2 Agree 34 68 3 Neither agree nor disagree 10 20 4 Strongly disagree 4 8 5 Disagree 0 0 Total 50 100 CHART:6: Satisfaction with regard to salary drawing at present INTERPRETATION: The above table shows about the level of satisfaction with regard to salary given to them. 68% of the employees agree with it, 20% of them are neutral, 8% strongly disagree and 4% of the employees strongly agree. 2 34 10 4 Strongly agree Agree Neither agree nor disagree Strongly disagree 72 | P a g e Table.7: Satisfaction with regard to lunch breaks, rest breaks, and leaves provided S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 4 8 2 Agree 34 68 3 Neither agree nor disagree 12 24 4 Strongly disagree 0 0 5 Disagree 0 0 Total 50 100 CHART:7: Satisfaction with regard to lunch breaks, rest breaks, and leaves provided INTERPRETATION: The above table shows about the satisfaction level of employee with their break timings. 68% of the employees agree with it, 24% of them are neutral and 8% of the employees strongly agree. 4 34 12 0 Strongly agree Agree Neither agree nor disagree Strongly disagree 73 | P a g e Table.8: Table showing good physical working conditions providing in the organization. S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 4 8 2 Agree 36 72 3 Neither agree nor disagree 10 20 4 Strongly disagree 0 0 5 Disagree 0 0 Total 50 100 CHART:8: Good physical working conditions are provided in the organization. INTERPRETATION: The above table shows the motivation level of the employees with regard to good working conditions of the organization. 72 % of the employees agree with it, 20% of them are neutral and 8% of the employees strongly agree. 4 36 10 0 Strongly agree Agree Neither agree nor disagree Strongly disagree 76 | P a g e Table.11: Satisfaction with regard to Medical benefits provided. S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 6 12 2 Agree 32 64 3 Neither agree nor disagree 12 24 4 Strongly disagree 0 0 5 Disagree 0 0 Total 50 100 CHART:11: Satisfaction with regard to Medical benefits provided. INTERPRETATION: The above table shows opinion of the respondents regarding medical benefits. 64% of the employees agree with it, 24% of them are neutral and 12% of the employees strongly agree. 6 32 12 0 0 Strongly agree Agree Neither agree nor disagree Strongly disagree Disagree Satisfaction with regard to Medical benefits provided 77 | P a g e Table.12: Table showing Visibility with top management. S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 6 12 2 Agree 38 76 3 Neither agree nor disagree 6 12 4 Strongly disagree 0 0 5 Disagree 0 0 Total 50 100 CHART:12: Chart showing Visibility with top management. INTERPRETATION: The above table shows the opinion of the employee‟s relationship with the top manager. 76% of the employees agree with it, 12% of them are neutral and 12% of the employees strongly agree. 6 38 6 0 0 Strongly agree Agree Neither agree nor disagree Strongly disagree Disagree Visibility with top management 78 | P a g e Table.13: Table showing superior recognizes the work done in the organization. S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE 1 Strongly agree 8 16 2 Agree 30 60 3 Neither agree nor disagree 12 24 4 Strongly disagree 0 0 5 Disagree 0 0 Total 50 100 CHART: 13: Chart showing superior recognizes the work done in the organization. INTERPRETATION: The above table shows opinion of the employee about the recognition of him from the superior. 60% of the employees agree with it, 24% of them are neutral and 16% of the employees strongly agree. 8 30 12 0 Strongly agree Agree Neither agree nor disagree Strongly disagree 81 | P a g e FINDINGS  The study found that 64% of employee motivation with regard to increments given to employees  About 56% of the employees agree that financial incentives motivate them than non-financial incentives.  Most of the employees are satisfied with salary.  68% employees are satisfied with regards to the lunch breaks, rest breaks and leaves provided by the organization.  Majority of the employees agree good working conditions are provided in the organization.  The study found that most of employee motivation with regard to increments given to employees.  The respondents are satisfied with the responsibility and role of their work.  76% of the respondents are satisfied with regard to responsibility and role they perform.  Majority 88% of the respondent‟s quality of relationship in informal workgroup.  72% of respondents are satisfied with the support from the HR department.  Majority of the respondents 72% shows fare amount of team spirit in the organization.  Most of the respondents 64% show the best performance in their job.  60% of the respondents feel schedule of work with regards to job related decisions.  Majority 88% of the respondent‟s opportunities for advancement in the organization. 82 | P a g e SUGGESTIONS 83 | P a g e SUGGESTIONS  HDFC Bank should make arrangement for the workers to skill them in all fields & in all kinds of job regular training & education programs should be arranged for the supervisor and executive so as to uplift them as multi-skilled. In this way, the workers would also enjoy their work.  Non financial incentive plans should also be implemented; it can improve the productivity level of the employees.  Organization should give importance to communication between employees and gain co-ordination through it.  Skills of the employees should be appreciated.  Better carrier development opportunities should be given to the employees for their improvement.  If the centralized system of management is changed to a decentralized one, then there would be active and committed participation of staff for the success of the organization 86 | P a g e LIMITATIONS 87 | P a g e LIMITATIONS OF THE STUDY  Some respondent have not answered the question correctly because of the busy schedule. They tend to hurry up the talk, which inhibits proper collection of data.  This study is limited to HDFC Bank, Aminabad Lucknow.  45 Days is Short of time for study  Some respondent did not provide full data.  Sample size is small. 88 | P a g e BIBLIOGRAPHY