Job Satisfaction in Banking: A Study of Private and Public Sector Banks

In this highly competitive world, success of any organization depends on its human resource. Banks are no exception to this. A satisfied, happy and hard working employee is the biggest asset of any organization, including banks. Workforce of any bank is responsible to a large extent for its productivity and profitability. Efficient human resource management and maintaining higher job satisfaction level in banks determine not only the performance of the bank but also affect the growth and performance of the entire economy. So, for the success of banking, it is very important to manage human resource effectively and to find whether its employees are satisfied or not. Only if they are satisfied, they will work with commitment and project a positive image of the organization. Once banking was confined to public sector only but it was opened to private sector in 1991 on the recommendations of the Narsimaham Committee. The present paper makes an effort to study the job satisfaction level among employees of selected private and public sector banks in Ludhiana. Bank jobs have always remained the first preference of the youth here. So, this study is also an effort to find out what they think of this job afterwards.