Research Design: The research design applicable to this study was exploratory research design. Exploratory research is typical when a research is examining a new interest, when the subject of the study is relatively new and unstudied, or a researcher seeks to test the feasibility of understanding a
Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177
24 Laxmichand Golwala College of Commerce & Economics, Ghatkopar
more careful study. (Babbie,2009). The main purpose of exploratory research design is that of formulating a problem for more precise investigation or of developing a working hypothesis from the operational point of view. The major emphasis on this research design is on the discovery of ideas and insights. (Kothari, 2011). The current study was an exploratory research as it seeks to study relatively unexplored area that is expectations and perceptions of middle adults (45-65 years) regarding public sectors banks.
Sample Size: Total number of sample was 40 middle aged adults (20 males & 20 females) from four randomly selected nationalized banks namely, Central Bank of India, State Bank of India, Bank of Maharashtra and Dena Bank.
Sampling Technique
Judgemental/purposive sampling technique was used.
Purposive sampling is where appropriate selection of sample is done on the basis of the researcher‘s knowledge of the population, its element and the nature of the research aim.(Rubin & Babbie, 2008).
Convenience sampling (also known as grab sampling, accidental sampling, or opportunity sampling) is a type of non-probability sampling that involves the sample being drawn from that part of the population that is close to hand. That is, a sample population selected because it is readily available and convenient, as researchers are drawing on relationships or networks to which they have easy access. (Thornhill,2012)
Inclusion criteria for participants
Participants from middle adulthood ranging from 40-65years
Rationale: Middle adulthood is the time of increasing interest in transmitting values to next generation, increased reflection on meaning of life. Has financial stability, are the responsible caregivers for both younger & older generations. They are the ones who possibly have already faced many struggles and has also gained expertise in their field. It is interesting to study their job satisfaction level as they individually being male and female have different roles to perform. (Rai,2015)
Nationalized banks were selected
Rationale: In order to have adequate social control, greater mobilisation of deposits, accessible to greater amount of areas including, balanced regional development, greater control by reserve bank, new schemes, stability in banking structure etc.
Participants with minimum experience of 10years in the important sector and minimum of 2years in same bank
Rationale: As they will be updated with flaws if any rules, factors, working system of bank etc. Might have faced and have overcome with experience issues held in past or recently. Minimum 10 years as they will know the overall working of this sector in and out with the changing times. Minimum 2 years of experience in the current bank in order to get use to a particular working environment with timely changes and this would enhance letting them get used to it.
There was no discrimination on the basis of caste, community, socio-economic status & religion Rationale: Research is for all with no bias to any such factors mentioned above as main aim is a comparative study on male and female employees.
No participant was discriminated on the basis of gender
Rationale: Research is open to both genders and equal number of males and females are included in sample as study examines difference in level of job satisfaction in them.
Participants residing in Mumbai and Thane district
Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177
25 Laxmichand Golwala College of Commerce & Economics, Ghatkopar
Exclusion criteria for participants
Private / non-nationalized banks
Rationale: As government holds hardly any portion in shares and does not have that major right in comparison and high risk of job security and period of time.
Participants belonging in early & late adulthood
Rationale: Early adults includes the new comers who in comparison have less knowledge and experience wherein on the other side late adults include the older people who are almost on the verge to retirement who have experience but may not be updated up to date.
Participants having less than 10years of experience in the same bank
Rationale: As changing careers and transferred ones may take time to adjust and fully know the bank with all working systems and surrounding, rules, regulations, outcomes. facilities etc.
Participants belonging to non-managerial position
Rationale: As this is first kind of research and secondly, they may not be knowing English so well and our tool is totally in English so result could have fluctuated.
Operational Definitions
Middle Age: The period between early adulthood and old age, usually considered as the years from about 45 to 65. https://en.m.wikipedia.org
Bank: A person or company carrying on the business of receiving money and collecting draft for customers subject to the obligation of honouring cheques upon them from time to time by the customers to the extent of the amounts available on their current accounts. (Goldthwaite,1995)
Job Satisfaction: Job satisfaction is the level of contentment of employees feel about their work which can affect performance www.managementtextbooks.com
Sample Characteristics
Four randomly selected nationalized banks were included for research namely, Central Bank of India, State Bank of India, Bank of Maharashtra and Dena Bank. The age of majority of the participants ranged between 51-60 years (62.5%). Substantial majority of the participants were married (87.5%) and from general/ open category (90%). Almost all the participants were Hindu (95%). Majority of the participants were graduate (67.5%). Little more than one-third of participants were at the position of Bank teller (40%), little more than quarter of the participants were financial manager (27. 5%).Whereas, little less than quarter of the participants were loan officer (22.5%). Little less than half of the participants had above 25 years of experience (47.5%). Almost one-third of the participants had monthly income of 40001-60000 (32.5%) and 60001-80000 (35%). (Refer to Table 2.1)
Process of Initiating the Research
Four researchers accomplished the research. The researchers were then asked to list down the topics. The researchers generated a list of research topics after searching for ideas from internet, previous thesis, articles, journals etc from which one broad category was selected. The researchers thought of a specific area from the broad category with the help of their research guide on which they carried out the research. Various topics were short listed and from those the researchers selected bank as their research topic and started working on collecting articles and information on the topic for making the review of literature.
Table No 2.1 Sample Characteristics of the Participant
Sample Characteristics f (%) n=40 Age range 31-40 4(10%) 41-50 11(27.5%) 51-60 25(62.5%) Gender Males 20(50%) Females 20(50%) Marital status Married 35(87.5%) Unmarried 2(5%) Widow 3(7.5%)
Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177
26 Laxmichand Golwala College of Commerce & Economics, Ghatkopar Social status General 36(90%) OBC 3(7.5%) Any other 1(2.5%) Religion Hindu 38(95%) Christian 1(2.5%) Sample Characteristics f (%) n=40 Dwelling status/Residence Rented 4(10%) Owned 33(82.5%) Quarters 4(10%) Educational qualification S.S.L.C 2(5%) Graduate 27(67.5%) P.G. 11(27.5%) Present position Financial Analyst 3(7.5%) Bank Teller 16(40%) Loan Officer 9(22.5%) Financial Manager 11(27.5) Assistant Manager 1(2.5%) Any other 1(2.5%)
Number of members in the family
Below 4 16(40%) 4-6 23(57.5%) 7-9 0 Above 9 1(2.5%) Experience in years 5-10 7(17.5%) 11-15 3(7.5%) 16-20 5(12.5%) 20-25 6(15%) Above 25 19(47.5%) Monthly income 20000-40000 3(7.5%) 40001-60000 13(32.5%) 14(35%) 60001-80000 80001-100000 7(17.5%) More than a lakh. 3(7.5%)
Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177
Development of tool and Methods of Data Collection: Self-constructed face to face questionnaire method was used for the study. Part of the tool was constructed, and part of the tool was standardized tool. Rationale questionnaire was used to measure the level of job satisfaction of employees. The participants could, thereby read and reflect on the statements in the questionnaire and provided ratings for the same, questionnaire method was easy to administer.
Description of the tool
Tool -A: Proforma: A Proforma was the form of a questionnaire constructed to obtain the necessary background information of the participants for the study. The background information included corresponds with the inclusion and exclusion criteria, aiding selection. The information tapped for the inclusion criteria was participants age, gender, present position, marital status, years of experience. Some general information solicited was educational qualification, income, religion, etc. The rationale for distributing the proforma was to choose suitable participants for the study. The questionnaire was acculturated to suit the purpose of the study. There were 18 questions in the proforma.
Tool -B: Job Satisfaction
Description of the Tool -Several aspects of characteristics connected with the participants job, having relationship with job satisfaction were presented in the questionnaire. For each of the characteristics, the participants were requested to give three ratings, which symbolized their (a) perception (b) aspiration and (c) importance, about the characteristic in their job. The participants were supposed to give their ratings for each of the job characteristic in respect of questions a, b, and c. each question was rated on a scale of 5 to 1. Encircling a lower valued number represented the lower significance the respondent attributed to a particular job‘s characteristics and encircling a higher number represented higher significance, the employee attributed to a job characteristic.
There were total 20 questions in Tool -B. The questionnaire contained questions pertaining to socio- economic status, job security, personal growth and development, investment and responsibility among employees, work environment. Under socio-economic status there were 4 questions, job security - 3 questions, personal growth and development – 6 questions, involvement and responsibility - 3 questions, work environment – 4 questions.
Analysis of the Tool – Job Satisfaction: The scores for each of the 20 job characteristics were calculated from all the three ratings that is perception aspiration and importance. Total score from tool B was calculated. The result was with highest and lowest score from job satisfaction characteristics
Analysis of the Tool – Job Satisfaction Variables: The final scores of job satisfaction variables were summed up of all the four nationalized banks – State Bank of India, Dena Bank, Central Bank of India, Bank of Maharashtra.
Procedure of Data Collection: The study was conducted in three stages. In the First stage, 40 middle adults (20 males & 20 females) from 4 different nationalized banks namely, State Bank of India, Bank of Maharashtra, Central Bank of India and Dena Bank were selected. Background information was filled by the participants through which the inclusion criteria was measured. In the second stage, they were given a structured questionnaire. In the third stage, result was analysed keeping in mind responses of set of 10 (05 males & 05 females) from each bank concerning their expectation and perception regarding quality of job in banking sector.
Step by Step Data Collection: The reference materials were collected from books, journals, scholars‘
articles and Google. The tool was formulated keeping in mind the review of literature and pilot testing. Structured questionnaire was finalized. Based on feedback and suggestions provided by research guide the adding, deleting, reframing and substituting items/ words were done. Once the modification was done, Consent letter was approved by the research guide to conduct the research. The tool was first pilot tested on 2 middle adults (1 males & 1 females) i.e., between 40-65 years of age, working in nationalized banks and having at least 10 years of experience. The changes were
Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177
made as per the feedback and suggestions with consensus of research guide. Final questionnaire was developed for data collection. Consent letter was approved by the research guide which was used to get the permission from the regional office to conduct the research in the banks and later the same letter was used to get the permission from bank managers. List of middle adults was made by the researchers using purposive and judgmental techniques. Participants were briefed about the purpose of the study and the time required for the study. Instructions were provided in order to elicit honesty and genuineness. The instructions were focused on how each individual should entitle to his/ her own opinion and perception and hence should feel free to express the same. Total 40 participants who fulfilled the criterion and gave the consent to participate were included in the study. Initially researcher had face to face questionnaire with the participants. After data collection, data was analysed using qualitative and quantitative statistical procedure.
Lastly, the result was formulated.
Plan of Analysis: Data was analysed both quantitatively and qualitatively. The plan of analysis was done for different objectives of the study. The responses from all the four banks (5 males and 5 females from each bank) were quantitatively analysed; qualitatively- calculated; percentages were drawn. The responses of the participants and their perception, aspiration and importance regarding their job satisfaction were in some areas they are satisfied and in some areas, they are not. For e.g. Satisfied in the area of office infrastructure but may not be satisfied with the salary.