PROJECT ON STRESS MANAGEMENT IN THE BANKING INDUSTRY By Natasha Devika SriRam (09/MHRM/22) & Ishbeer Kaur Virdi (09/MHRM/13) Of Madras School of Social Work A project report submitted to Faculty Of Human Resource Management In partial fulfillment of the requirements for the award of the degree of
MASTER OF ARTS IN HUMAN RESOURCE MANAGEMENT UNIVERSITY OF MADRAS February 2010
1
CERTIFICATE This is to certify that the project report on the “STRESS MANAGEMNT”
is a bonafide
project work done by Ms.Natasha Devika SriRam and Ms.Ishbeer Kaur Virdi , full time students of the Department of MA.HRM, Madras School of Social Work in partial fulfillment of the requirements for the award of the degree of Master of Arts in Human Resource Management of the University of Madras during the year 2010-2011
………………. Project Guide
…………………….. Head of the Department
………………. Principal
Of MA.HRM
Internal Examiner
External Examiner
2
DECLARATION
We, Ms.Natasha Devika SriRam and Ms.Ishbeer Kaur Virdi hereby declare that the report fulfills all the requirements for the award of the degree in Masters in Human Resource Management and is a record of original work done by us during the period of February 2011, under the guidance and supervision of Professors Mr.John Paul & Mr.SivaPragasam
……………………
……………………..
Signature of the Faculty Guide
Signature of the Candidate
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ACKNOWLEDGEMENT
We offer our special thanks and prayers to God Almighty for showering his blessings on us and bestowing us with the skills and abilities to carry out this study. We cordially thank Madras School of Social Work for giving us the opportunity to undergo our project work. We thank the principal Dr.Mrs.Fatima Vasanth for her support. We thank Mrs. Jeyanthi Peter, Head of the Department of MA.HRM for her inspiration and guidance throughout the course of our study in the institution. We also extend our heartfelt gratitude to our faculty guides Mr. John Paul & Mr. Sivapragasam who guided us throughout the project. We also acknowledge all the staff of MA.HRM department for their valuable guidance. Last but not the least we also extend our gratitude and thanks to our families and friends who have been a constant source of encouragement and support.
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TABLE OF CONTENTS
S.NO
CONTENTS
PG. NO.
LIST OF TABLES LIST OF CHARTS 1
INTRODUCTION
8
2
INDUSTRY PROFILE
16
3
SCOPE & OBJECTIVES OF THE STUDY
20
4
LIMITATIONS OF THE STUDY
21
5
REVIEW OF LITERATURE
22
6
RESEARCH METHODOLOGY
37
7
DATA ANALYSIS & INTERPRETATIONS
42
8
FINDINGS
66
9
SUGGESTIONS
67
10
CONCLUSION
69
11
BIBLIOGRAPHY
70
12
ANNEXURE
72
LIST OF TABLES & PIE CHARTS
5
NO.
TITLE
PAGE NO.
1
AGE OF RESPONDENTS
42
2
GENDER OF RESPONDENTS
43
3
WORK EXPERIENCE OF RESPONDENTS
44
4
EDUCATIONAL QUALIFICATION OF RESPONDENTS
45
1.1
RESPONDENTS WITH DIFFICULTY IN SLEEPING
46
1.2
RESPONDENTS WITH DIFFICULTY IN CONCENTRATING
47
1.3
RESPONDANTS WITH FINANCIAL PROBLEMS
48
1.4
RESPONDENTS AND SUBSTANCE ABUSE
49
1.5
RESPONDENTS AND FREQUENCY OF ANGER
50
1.6
RESPONDENTS WITH JOB PESSIMISM
51
1.7
RESPONDENTS WITH SLOW RECOVERY DURING ILLNESS
52
1.8
RESPONDENTS WHO FEEL ISOLATED
53
1.9
RESPONDENTS WITH NO CONTROL OF LIFE
54
1.10
RESPONDENTS WITH BAD EATING HABITS
55
1.11
RESPONDENTS WHO OVER REACT TO CONFLICTS
56
1.12
RESPONDENTS WHOSE WORK EXCEEDS ONE'S CAPACITY
57
1.13
RESPONDENTS CAUGHT BETWEEN FAMILY AND WORK PRESSURE
58
6
1.14
RESPONDENTS WHO FEEL UNDER - PAR AT THE BEGINNING OF A WORK DAY
59
1.15
RESPONDENTS WHO SHY AWAY FROM SOCIAL CONTACT WITH COLLEAGUES
50
1.16
RESPONDENTS WHOSE APPEARANCES ARE COMMENTED UPON
61
1.17
RESPONDENTS WITH NO TIME FOR THEMSELVES
62
1.18
RESPONDENTS WHO FEEL MISUNDERSTOOD/ UNAPPRECIATED BY OTHERS
63
1.19
RESPONDENTS WHO ARE COPERS FOR FAMILY/ COLLEAGUES WITH NO SUPPORT FOR THEMSELVES
64
1.20
RESPONDENTS WHO TAKE A DAY OFF JUST TO RECUPERATE EMOTIONALLY, MENTYALLY & PHYSICALLY
65
INTRODUCTION 20TH century has been regarded as the period of incredible change in human history. Philosophers and scientists have been various names to this period. Peter Drucker has called
7
it “The Age of Discontinuity”, John Galbraith has called it “The Age of Future Shock” and Hari Albrecht called it “The Age of Anxiety”. Stress has become the 21 century buzz word, from the high pervading corporate echelons to the bassinets of teaching infants’ nurseries we find this world liberally used. Stress is part of modern life. Various events in life cause stress, starting with the birth of a child and enduring with the death of a dear one. Urbanization, industrialization and the increase scale of operations in society are some of the reasons for rising stress. It is an inevitable consequence of socio-economic complexity and to some extent, its stimulant as well. People experience stress as they can no longer have complete control over what happen in their lives. The telephone goes out of order, power is shut down, water supply is disrupted, children perform poorly at school etc, we feel frustrated and then stressed. The word stress is derived from a Latin word “stringere”, meaning to draw tight. From the view point of physical sciences, the phenomena of stress are evident in all materials when they are subjected to “force, pressure, strain or strong-front”. Every material steel, rock or wood has its own limit up to which it can withstand stress without being damaged. Similarly human beings can tolerate certain level of stress. Stress is highly individualistic in nature. Some people have high levels of stress tolerance for stress and thrive very well in the face of several stressors in the environment. In fact, some individuals will not perform well unless they experience a level of stress which activates and energizes then to put forth their best results. For every individual there is an optimum level of stress under which he or she will perform to full capacity. If the stress experience is below the optimum level, then the individual gets bored, the motivational level of work reaches a low point and it results to careless mistakes, forgetting to do things and thinking of things other than work during work hours and also leads to absenteeism which may ultimately lead to turnover. If on the other hand, stress experience is above the optimum level, it leads to too many conflicts with the supervisor or leads to increase of errors, bad decisions and the individual may experience insomnia, stomach problems, and psychosomatic illness. The present world is fast changing and there are lots of pressures and demands at work. These pressures at work lead to physical disorders. Stress refers to individual’s reaction to a disturbing factor in the environment. It is an adaptive response to certain external factor or 8
situation or what can be called environmental stimuli as reflected in an opportunity, constraint, or demand the outcome of which is uncertain but important. In short stress is a response to an external factor that results in physical, emotional, behavioral deviations in a person. Stress is an all pervading modern phenomenon that takes a heavy toll of human life. Different situations and circumstances in our personal life and in our job produce stress. Those can be divided into factors related to the organization and factors related to the person which include his experience and personality traits. Job related factors are work overload, time pressures, poor quality of supervision, insecure political climate, role conflict and ambiguity, difference between company values and employee values. Person related factors are death of spouse, or of a close friend, family problems, change to a different line of work, prolonged illness in the family, change in social activities, eating habits, etc., Personality traits are ‘Type A’ personality. They are impatient, ambitious, competitive, aggressive, and hardworking. They set high goals and demands of themselves and others. And they are particularly prone to stress inducing anticipatory emotions such as anxiety. REMEDIES TO REDUCE STRESS There are two major approaches to reduce stress. They are, •
Individual approaches
•
Organizational approaches
INDIVIDUAL APPROACHES An employee can take individual responsibility to reduce his/her stress level. Individual strategies that have proven effective include, implementing time management techniques, increasing physical exercise, relaxation training, and expanding the social support network.
Time management Many people manage their time very poorly. Some of well known time management principles include, o Making daily list of activities to be accomplished 9
o Scheduling activities according to the priorities set o Prioritizing activities by importance and urgency o Knowing your daily cycle and handling the most demanding parts of your job. Physical exercise Practicing physical exercises like aerobics, brisk walking, jogging, swimming, and riding a bi-cycle. Relaxation training Relaxation techniques such as meditation, hypnosis and bio-feedback. The objective is to reach in state of deep relaxation, where one feels physically relaxed, somewhat from detached from the immediate environment. Fifteen or twenty minutes a day of deep relaxation releases tension and provides a person with a pronounced sense of peacefulness. Social support Having families, friends or work colleagues to talk provides an outlet, when stress levels become excessive. So expand your social support network that helps you with someone to hear your problems. ORGANIZATIONAL APPROACHES Several of the factors that cause stress particularly task and role demands and organizations structure are controlled by management. As such they can be modified or changed. Some of the strategies that management want to consider include improved personal self section and job placement, use of realistic goal setting, redesigning of jobs, improved organizational communication and establishment of corporate wellness programmes. Certain jobs are more stressful than others. Individual with little experience or an external lower of control tend to be more proven to stress. Selection and placement decisions should take these facts into consideration. Goal setting helps to reduce stress. It also provides motivation. Designing jobs to give employees more responsibility, more meaningful work, more autonomy, and increased feedback can reduce stress, because these factors give the employee greater control over work activities and lessen dependence on others. Increasingly formal organizational communication with employees reduces uncertainty by reducing role ambiguity and role conflict. Wellness programs like employee counselling form on the employee’s total physical and mental condition. They typically proud work ships to 10
help people quit smoking, control alcohol usage, eat better and develop a regular exercise program. Another remedy for reducing stress is cognitive restructuring. It involves two step procedures. First irrational or maladaptive thought processes that create stress are identified. For example Type A individuals may believe that they must be successful at everything they do. The second step consists of replacing these irrational thoughts with more rational or reasonable ones. One important remedy to reduce stress is the maintenance of good sleep. Research conducted on laboratory specimen to have met with startling discoveries. Sleep starved rats have developed stress syndrome. The amount of sleep one requires varies from person to person and is dependent on one’s lifestyle. The American National Sleep Foundation claims that a minimum of eight hours of sleep is essential for good health. Generally studies shows that young adults can manage with about 7-8 hours. After the age of 35, six hours of sleep is sufficient whereas people over 65 years may just need three or four hours. TYPES OF STRESSES The different types of stress are as follows: Mechanical •
Stress (physics), the average amount of force exerted per unit area.
•
Yield stress, the stress at which a material begins to deform plastically.
•
Compressive stress, the stress applied to materials resulting in their compaction.
Biological •
Stress (biological), physiological or psychological stress; some types include:
•
Chronic stress, persistent stress which can lead to illness and mental disorder
•
Eustress, positive stress that can lead to improved long-term functioning
•
Workplace stress, stress caused by employment
Other 11
•
Stress (game), card game
•
Stress (linguistics), phonological use of prominence in language
STRESS IN MECHANICAL TERMS : Stress (physics) Stress is a measure of the average amount of force exerted per unit area. It is a measure of the intensity of the total internal forces acting within a body across imaginary internal surfaces, as a reaction to external applied forces and body forces. It was introduced into the theory of elasticity by Cauchy around 1822. Stress is a concept that is based on the concept of continuum. In general, stress is expressed as
Where, is the average stress, also called engineering or nominal stress, and •
is the force acting over the area
.
Chronic Stress Chronic stress is stress that lasts a long time or occurs frequently. Chronic stress is potentially damaging. Symptoms of chronic stress can be: •
upset stomach
•
headache
•
backache
•
insomnia
•
anxiety
•
depression
•
anger
In the most severe cases it can lead to panic attacks or a panic disorder.
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There are a number of methods to control chronic stress, which include, exercise, healthy diet, stress management, relaxation techniques, adequate rest, and relaxing hobbies. Ensuring a healthy diet containing magnesium may help control or eliminate stress, in those individuals with lower levels of magnesium or those who have a magnesium deficiency. Chronic stress can also lead to a magnesium deficiency, which can be a factor in continued chronic stress, and a whole host of other negative medical conditions caused by a magnesium deficiency. It has been discovered that there is a huge upsurge in the number of people who suffer from this condition. A very large number of these new cases suffer from insomnia. In a review of the scientific literature on the relationship between stress and disease, the authors found that stress plays a role in triggering or worsening depression and cardiovascular disease and in speeding the progression of HIV/AIDS. Compressive stress: Compressive stress is the stress applied to materials resulting in their compaction (decrease of volume). When a material is subjected to compressive stress, then this material is under compression. Usually, compressive stress applied to bars, columns, etc. leads to shortening. Loading a structural element or a specimen will increase the compressive stress until the reach of compressive strength. According to the properties of the material, failure will occur as yield for materials with ductile behavior (most metals, some soils and plastics) or as rupture for brittle behavior (geometries, cast iron, glass, etc). In long, slender structural elements -- such as columns or truss bars -- an increase of compressive force F leads to structural failure due to buckling at lower stress than the compressive strength. Compressive stress has stress units (force per unit area), usually with negative values to indicate the compaction. However in geotechnical engineering, compressive stress is represented with positive values.
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STRESS IN BIOLOGICAL TERMS: Stress is a biological term which refers to the consequences of the failure of a human or animal body to respond appropriately to emotional or physical threats to the organism, whether actual or imagined. It includes a state of alarm and adrenaline production, short-term resistance as a coping mechanism, and exhaustion. It refers to the inability of a human or animal body to respond. Common stress symptoms include irritability, muscular tension, inability to concentrate and a variety of physical reactions, such as headaches and accelerated heart rate. The term "stress" was first used by the endocrinologist Hans Selye in the 1930s to identify physiological responses in laboratory animals. He later broadened and popularized the concept to include the perceptions and responses of humans trying to adapt to the challenges of everyday life. In Selye's terminology, "stress" refers to the reaction of the organism, and "stressor" to the perceived threat. Stress in certain circumstances may be experienced positively. Eustress, for example, can be an adaptive response prompting the activation of internal resources to meet challenges and achieve goals. The term is commonly used by laypersons in a metaphorical rather than literal or biological sense, as a catch-all for any perceived difficulties in life. It also became a euphemism, a way of referring to problems and eliciting sympathy without being explicitly confessional, just "stressed out". It covers a huge range of phenomena from mild irritation to the kind of severe problems that might result in a real breakdown of health. In popular usage almost any event or situation between these extremes could be described as stressful. GOOD STRESS V/S BAD STRESS: Stress has often been misunderstood to be negative, with few people acknowledging the importance and usefulness of positive stress. In our everyday lives, stress is everywhere and definitely unavoidable; hence our emphasis should be on differentiating between what is good stress, and what is bad. This will help us to learn to cope with negative stress, and harness the power of positive stress to help us achieve more. There are 4 main categories of stress, namely eustress, distress, hyper stress and hypo stress. Negative stress can cause many physical and psychological problems, whilst positive stress can be very helpful for us. Here’s how we differentiate between them. 14
EUSTRESS This is a positive form of stress, which prepares your mind and body for the imminent challenges that it has perceived. Eustress is a natural physical reaction by your body which increases blood flow to your muscles, resulting in a higher heart rate. Athletes before a competition or perhaps a manager before a major presentation would do well with Eustress, allowing them to derive the inspiration and strength that is needed. DISTRESS We are familiar with this word, and know that it is a negative form of stress. This occurs when the mind and body is unable to cope with changes, and usually occurs when there are deviations from the norm. They can be categorized into acute stress and chronic stress. Acute stress is intense, but does not last for long. On the other hand, chronic stress persists over a long period of time. Trigger events for distress can be a change in job scope or routine that the person is unable to handle or cope with. HYPER STRESS This is another form of negative stress that occurs when the individual is unable to cope with the workload. Examples include highly stressful jobs, which require longer working hours than the individual can handle. If you suspect that you are suffering from hyper stress, you are likely to have sudden emotional breakdowns over insignificant issues, the proverbial straws that broke the camel’s back. It is important for you to recognize that your body needs a break, or you may end up with severe and chronic physical and psychological reactions. HYPO STRESS Lastly, hypo stress occurs when a person has nothing to do with his time and feels constantly
bored and unmotivated. This is due to an insufficient amount of stress; hence some stress is inevitable and helpful to us. Companies should avoid having workers who experience hypo stress as this will cause productivity and mindfulness to fall. If the job scope is boring and repetitive, it would be a good idea to implement some form of job rotation so that there is always something new to learn.
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INDUSTRY PROFILE HISTORY OF BANKING Modern Western economic and financial history is usually traced back to the coffee houses of London. The London Royal Exchange was established in 1565. At that time moneychangers were already called bankers, though the term "bank" usually referred to their offices, and did not carry the meaning it does today. There was also a hierarchical order among professionals; at the top were the bankers who did business with heads of state, next were the city exchanges, and at the bottom were the pawn shops or "Lombard"'s. Some European cities today have a Lombard street where the pawn shop was located. After the siege of Antwerp trade moved to Amsterdam. In 1609 the Amsterdamsche Wisselbank (Amsterdam Exchange Bank) was founded which made Amsterdam the financial centre of the world until the Industrial Revolution. Banking offices were usually located near centers of trade, and in the late 17th century, the largest centers for commerce were the ports of Amsterdam, London, and Hamburg. Individuals could participate in the lucrative East India trade by purchasing bills of credit from these banks, but the price they received for commodities was dependent on the ships returning (which often didn't happen on time) and on the cargo they carried (which often wasn't according to plan). The commodities market was very volatile for this reason, and also because of the many wars that led to cargo seizures and loss of ships.
MAJOR EVENTS IN BANKING HISTORY
1602 - First joint-stock company, the Dutch East India Company founded.
1720 - The South Sea Bubble and John Law's Mississippi Scheme, which caused a
European financial crisis and forced many bankers out of business.
1781 - The Bank of North America was found by the Continental Congress.
1930-33 In the wake of the Wall Street Crash of 1929, 9,000 banks close, wiping out
a third of the money supply in the United States.
1986 - The "Big Bang" (deregulation of London financial markets) served as a
catalyst to reaffirm London's position as a global centre of world banking.
2008 - Washington Mutual collapses. It was the largest bank failure in history.
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HISTORY OF BANKING IN INDIA The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below: •
Early phase from 1786 to 1969 of Indian Banks
•
Nationalisation of Indian Banks and up to 1991 prior to Indian banking sector Reforms. New phase of Indian Banking System with the advent of Indian Financial & Banking
•
Sector Reforms after 1991. Phase I The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which
started
as
private
shareholders
banks,
mostly
Europeans
shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of
Mysore
were
set
up.
Reserve
Bank
of
India
came
in
1935.
During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in india as the Central Banking Authority. During those days public has lesser confidence in the banks. As an aftermath deposit mobilisation was slow. Abreast of it the savings bank facility provided by the Postal 17
department was comparatively safer. Moreover, funds were largely given to traders.
Phase II Government took major steps in this Indian Banking Sector Reform after independence. In 1955, it nationalised Imperial Bank of India with extensive banking facilities on a large scale specially in rural and semi-urban areas. It formed State Bank of india to act as the principal agent of RBI and to handle banking transactions of the Union and State Governments all over the country. Seven banks forming subsidiary of State Bank of India was nationalised in 1960 on 19th July, 1969, major process of nationalisation was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country was nationalised. Second phase of nationalisation Indian Banking Sector Reform was carried out in 1980 with seven more banks. This step brought 80% of the banking segment in India under Government ownership. The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country: •
1949 : Enactment of Banking Regulation Act.
•
1955 : Nationalisation of State Bank of India.
•
1959 : Nationalisation of SBI subsidiaries.
•
1961 : Insurance cover extended to deposits.
•
1969 : Nationalisation of 14 major banks.
•
1971 : Creation of credit guarantee corporation.
•
1975 : Creation of regional rural banks.
•
1980 : Nationalisation of seven banks with deposits over 200 crore.
After the nationalisation of banks, the branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%. Banking in the sunshine of Government ownership gave the public implicit faith and immense
confidence
about
the
sustainability
18
of
these
institutions.
Phase III This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalisation of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money. The financial system of India has shown a great deal of resilience. It is sheltered from any crisis triggered by any external macroeconomics shock as other East Asian Countries suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not yet fully convertible, and banks and their customers have limited foreign exchange exposure.
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SCOPE & SIGNIFICANCE OF THE STUDY
The world today is fast changing and every individual faces a lot of pressure and demand at work. These pressures at work lead to mental and physical disorders. Stress refers to an individual’s response to a disturbing factor in the environment and the consequences of such a reaction. This study will help organizations know what causes stress and how to reduce the same in employees since it is a well known fact that a healthy and sound employee is a productive employee.
OBJECTIVES OF THE STUDY Primary objective: •
To undergo an in-depth study about the existence of stress among the employees of the BANKING INDUSTRY Post - Recession.
Secondary objective: •
To identify the factors causing stress among the employees.
•
To find out the level of stress among the employees of different age groups.
•
To study about the effects of stress on employees in BANKING INDUSTRY.
•
To identify the coping strategies to manage stress.
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LIMITATIONS OF THE STUDY
In spite of the precautions, vigilance and scrupulousness taken by the investigator to make the study objective, it cannot be denied that there are certain limitations.
•
The questionnaires were filled be 30 employees working in various bank. So the scope of sample findings was less.
•
The questionnaire was filled by 30 employees of different designations. So the point of view of employees differs as per their designations.
•
The employees from whom the questionnaires are filled are in a heavy workload so some of the questionnaires filled by the employees who are in stress cannot be called reasonable.
•
The responses of the employees cannot be accurate as the problem of language and understanding arises. (These problems are not in all cases.)
•
As the study was done within a limited time, investigator could not select a sufficiently large sample for the study.
•
The employees were reluctant to give correct information.
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REVIEW OF LITERATURE A review on the previous studies on stress among the employees is necessary to know the areas already covered. This will help to find our new areas uncovered and to study them in depth. The earlier studies made on stress among the employees are briefly reviewed here. The research study of Jamal. M* finds that job stressors were significantly related to employees’ psychosomatic problems, job satisfaction, unproductive time at the job, and absenteeism. Type A behaviour was found to be an important moderator of the stress outcome relationship. Hans Selye was one of the founding fathers of stress research. His view in 1956 was that “stress is not necessarily something bad – it all depends on how you take it. The stress of exhilarating, creative successful work is beneficial, while that of failure, humiliation or infection is detrimental.” Selye believed that the biochemical effects of stress would be experienced irrespective of whether the situation was positive or negative. The most commonly accepted definition of stress (mainly attributed to Richard S Lazarus) is that stress is a condition or feeling experienced when a person perceives that “demands exceed the personal and social resources the individual is able to mobilize.” In short, it's what we feel when we think we've lost control of events. Brief. A. P. and J. M. Atieh*, argues that it is not safe to assume that job conditions that have an adverse impact on affective reactions to the job will also have a negative impact on overall subjective well-being. Fienmann views stress as a psychological response state of negative effect characterized by a persistent and a high level of experienced anxiety or tension.
* Jamal M. “Job stress-prone Type A behaviour, personal and organizational consequences”, Canadian Journal Administration Sciences, 1985. pp 360-74.
22
* A. P and J. M. Atieh, “Studying job stress: Are we making mountains out of molehills?” Journal of occupational behavior, 1987 pp115-26. Hans Seyle, the endocrinologist, whose research on General Adaptation Syndrome (GAS), for the first time, revealed how human beings adapt themselves to emotional strives and strains in their lives. According to him emotional stress occurs in three important stages. 1. Alarm reaction stage 2. Resistance stage 3. Exhaustion stage. Alarm reaction is caused by physical or psychological stressors. Resistances are brought about by ACTH hormone of the body. Exhaustion follows when ACTH dwindles as a result of continual stress. (ACTH-Aprinocorticotropic) According to Stephen .P. Robbins*, stress related headaches are the leading cause of loss of work time in U. S. industry. Cooper and Marshall* visualize stress as characteristics of both the focal individual and his environment. They designate the internal and external consultive forces as ‘pressures’ or ‘stressors’ and the resulting stalk of the organism on stress. Recent research into the interaction between the mind and body show that we may place our body on stress ‘alert’ quite unconsciously, because of our psychological and emotional attitudes to stress. Anticipatory emotions like impatience, anxiety, and anger can produce the same nerve impulses and chemical reactions as being faced with a concrete challenge. So when faced with a stressful situation, we must either use up the energy created by the body to challenge or learn how to “turn off”, the response using a conscious relaxation technique.
23
*Stephen Robbins, “Organizational Behavior”, Prentice Hall, U.K, 1989 pp 499-501. *Cooper. C. L. and Marshall. J, “Understanding Executive Stress”, The McMillan Press Ltd, 1978 p 4. WHAT IS STRESS? Stress is a dynamic condition in which an individual is confronted with an opportunity, demand or resource related to what the individual desires and for which the outcome is perceived to be both uncertain and important. This is a complicated definition. Stress is not necessarily bad in and of itself. Although stress is typically discussed in a negative context, it also has a positive value. It’s an opportunity when it offers potential gain. Consider for example, the superior performance that an athlete or stage performer gives in “clutch” situations. Such individuals often use stress positively to rise to the occasion and perform at or near their maximum. Similarly, many professionals see the pressures of heavy workloads and deadlines as positive challenges that enhance the quality of their work and the satisfaction the get from their job. But it is different in the case of bank employees. The bank employees are the people who also have to achieve the certain target and so for the non achievement of target the employees remain stressed and tensed. The employees who have the simple table work also have to face the problem of stress. Due to recession the banking sector is also facing the problem of employee cut-offs and so the work load of the existing employees increases and the feel stressed. Stress refers to the strain from the conflict between our external environment and us, leading to emotional and physical pressure. In our fast paced world, it is impossible to live without stress, whether you are a student or a working adult. There is both positive and negative stress, depending on each individual’s unique perception of the tension between the two forces. Not all stress is bad. For example, positive stress, also known as eustress, can help an individual to function at optimal effectiveness and efficiency. Hence, it is evident that some form of positive stress can add more color and vibrancy to our lives. The presence of a deadline, for example, can push us to make the most of our time and produce greater efficiency. It is important to keep this in mind, as stress management refers to using stress to our advantage, and not on eradicating the presence of stress in our lives. 24
On the other hand, negative stress can result in mental and physical strain. The individual will experience symptoms such as tensions, headaches, irritability and in extreme cases, heart palpitations. Hence, whilst some stress may be seen as a motivating force, it is important to manage stress levels so that it does not have an adverse impact on your health and relationships. Part of managing your stress levels include learning about how stress can affect you emotionally and physically, as well as how to identify if you are performing at your optimal stress level (OSL) or if you are experiencing negative stress. This knowledge will help you to identify when you need to take a break, or perhaps seek professional help. It is also your first step towards developing techniques to managing your stress levels. Modern day stresses can take the form of monetary needs, or emotional frictions. Competition at work and an increased workload can also cause greater levels of stress. How do you identify if you are suffering from excessive stress? Psychological symptoms commonly experienced include insomnia, headaches and an inability to focus. Physical symptoms take the form of heart palpitations, breathlessness, excessive sweating and stomachaches. What causes stress? There are many different causes of stress, and that which causes stress is also known as a stressor. Common lifestyle stressors include performance, threat, and bereavement stressors, to name a few. Performance stressors are triggered when an individual is placed in a situation where he feels a need to excel. This could be during performance appraisals, lunch with the boss, or giving a speech. Threat stressors are usually when the current situation poses a dangerous threat, such as an economic downturn, or from an accident. Lastly, bereavement stressors occur when there is a sense of loss such as the death of a loved one, or a prized possession. Thus, there are various stressors, and even more varied methods and techniques of dealing with stress and turning it to our advantages. In order to do so, we must learn to tell when we have crossed the line from positive to negative stress. STRESS AND DECISIONMAKING, PERCEPTION, AND COGNITION Stress can affect an individual’s decision making process and ability to make effective judgments. For example, Easterbrook proposes a “cue utilization model” and argues that when exposed to stressors, individuals experience “perceptual narrowing” — meaning that they pay attention to fewer perceptual cues or stimuli that could contribute to their behaviour 25
or decision. Peripheral stimuli are likely to be the first to be screened out or ignored. Decision making models proposed by Janis and Mann support this hypothesis and suggest that under stress, individuals may make decisions based on incomplete information. Friedman and Mann suggest that when under conditions of stress, individuals may fail to consider the full range of alternatives available, ignore long-term consequences, and make decisions based on oversimplifying assumptions. Furthermore, the individuals may suffer from performance rigidity as a result of their reduced search behaviour and reliance on fewer perceptual cues to make decisions. Research on decision making under stress supports these theoretical models. Observe the decision making processes of individuals under time pressure. We find that individuals under time pressure tend to focus their attention only on a few salient cues. Larsen finds that, like other types of stressors, sleep deprivation can reduce an individual’s ability to reason, to analyze complex situations, and to make effective decisions. Sleep-deprived (stressed) individuals in his study were more likely to obey orders without thinking and to ignore cues that implied the presence of something unusual. Stress can also contribute to performance decrements by slowing cognition and individual information processing. Stress can be looked at as a form of “task overload” (e.g., asking an individual to perform more than one task under a time constraint) and it is seen that the addition of multiple required tasks reduces the quality of individual performance and increases the magnitude of the performance decrement as compared with the case in which the individual has only one task to perform. STRESS MANAGEMENT Stress management is the need of the hour. However hard we try to go beyond a stress situation, life seems to find new ways of stressing us out and plaguing us with anxiety attacks. Moreover, be it our anxiety, mind-body exhaustion or our erring attitudes, we tend to overlook causes of stress and the conditions triggered by those. In such unsettling moments we often forget that stressors, if not escapable, are fairly manageable and treatable. Stress, either quick or constant, can induce risky body-mind disorders. Immediate disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and muscle cramps can all result in chronic health problems. They may also affect our immune, cardiovascular and nervous systems and lead individuals to habitual addictions, which are inter-linked with stress. 26
Like "stress reactions", "relaxation responses" and stress management techniques are some of the body's important built-in response systems. As a relaxation response the body tries to get back balance in its homeostasis. Some hormones released during the 'fight or flight' situation prompt the body to replace the lost carbohydrates and fats, and restore the energy level. The knotted nerves, tightened muscles and an exhausted mind crave for looseness. Unfortunately, today, we don't get relaxing and soothing situations without asking. To be relaxed we have to strive to create such situations. DIFFERENT TYPES OF STRESSORS As mentioned previously, stressors can come in a variety of forms, including extreme heat or lighting, lack of sleep, risk of injury or death, or time pressure. The description of stressors and their impact on behaviour is an open-ended task, and current research considers an increasing number of events and conditions to be stressors. Although stressors can be •
physical (biological or chemical demands on the body) or
•
cognitive (threat of death, personal assault)
in form, they are always external and produce similar physiological responses within the body. These physiological effects, defined as a stress response, can include increased blood pressure, dilated pupils and increased heart rate.
RECOGNIZING A STRESSOR It is important to recognize whether you are under stress or out of it. Many times, even if we are under the influence of a stressful condition and our body reacts to it internally as well as externally, we fail to realize that we are reacting under stress. This also happens when the causes of stress are there long enough for us to get habituated to them. The body constantly tries to tell us through symptoms such as rapid palpitation, dizzy spells, tight muscles or various body aches that something is wrong. It is important to remain attentive to such symptoms and to learn to cope with the situations. We cope better with stressful situation, when we encounter them voluntarily. In cases of relocation, promotion or layoff, adventurous sports or having a baby, we tend to respond positively under stress. But, when we are compelled into such situations against our will or knowledge, more often than not, we wilt at the face of unknown and imagined threats. For
27
instance, stress may mount when one is coerced into undertaking some work against one's will.
WORKPLACE STRESS Workplace stress is the harmful physical and emotional response that occurs when there is a poor match between job demands and the capabilities, resources, or needs of the worker. Stress-related disorders encompass a broad array of conditions, including psychological disorders (e.g., depression, anxiety, post-traumatic stress disorder) and other types of emotional strain (e.g., dissatisfaction, fatigue, tension, etc.), maladaptive behaviors (e.g., aggression, substance abuse), and cognitive impairment (e.g., concentration and memory problems). In turn, these conditions may lead to poor work performance or even injury. Job stress is also associated with various biological reactions that may lead ultimately to compromised health, such as cardiovascular disease. Stress is a prevalent and costly problem in today's workplace. About one-third of workers report high levels of stress. One-quarter of employees view their jobs as the number one stressor in their lives. Three-quarters of employees believe the worker has more on-the-job stress than a generation ago. Evidence also suggests that stress is the major cause of turnover in organizations. Health and Healthcare Utilization Problems at work are more strongly associated with health complaints than are any other life stressor-more so than even financial problems or family problems. Many studies suggest that psychologically demanding jobs that allow employees little control over the work process increase the risk of cardiovascular disease. On the basis of research by the National Institute for Occupational Safety and Health and many other organizations, it is widely believed that job stress increases the risk for development of back and upper-extremity musculoskeletal disorders. High levels of stress are associated with substantial increases in health service utilization. Workers who report experiencing stress at work also show excessive health care utilization. In a 1998 study of 46,000 workers, health care costs were nearly 50% greater for workers reporting high levels of stress in comparison to “low risk” workers. The increment rose to nearly 150%, an increase of more than $1,700 per person annually, for workers reporting high levels of both stress and depression. Additionally, periods of disability due to 28
job stress tend to be much longer than disability periods for other occupational injuries and illnesses.
CAUSES OF WORKPLACE STRESS Job stress results from the interaction of the worker and the conditions of work. Views differ on the importance of worker characteristics versus working conditions as the primary cause of job stress. The differing viewpoints suggest different ways to prevent stress at work. According to one school of thought, differences in individual characteristics such as personality and coping skills are most important in predicting whether certain job conditions will result in stress-in other words, what is stressful for one person may not be a problem for someone else. This viewpoint leads to prevention strategies that focus on workers and ways to help them cope with demanding job conditions. Although the importance of individual differences cannot be ignored, scientific evidence suggests that certain working conditions are stressful to most people. Such evidence argues for a greater emphasis on working conditions as the key source of job stress, and for job redesign as a primary prevention strategy. Personal interview surveys of working conditions, including conditions recognized as risk factors for job stress, were conducted in Member States of the European Union in 1990, 1995, and 2000. Results showed a trend across these periods suggestive of increasing work intensity. In 1990, the percentage of workers reporting that they worked at high speeds at least one-fourth of their working time was 48%, increasing to 54% in 1995 and to 56% in 2000. Similarly, 50% of workers reported they work against tight deadlines at least onefourth of their working time in 1990, increasing to 56% in 1995 and 60 % in 2000. However, no change was noted in the period 1995–2000 (data not collected in 1990) in the percentage of workers reporting sufficient time to complete tasks. A substantial percentage of Americans work very long hours. By one estimate, more than 26% of men and more than 11% of women worked 50 hours per week or more in 2000. These figures represent a considerable increase over the previous three decades, especially for women. According to the Department of Labor, there has been an upward trend in hours worked among employed women, an increase in extended work weeks (>40 hours) by men, and a considerable increase in combined working hours among working couples, particularly couples with young children. SIGNS OF WORKPLACE STRESS 29
Mood and sleep disturbances, upset stomach and headache, and disturbed relationships with family; friends and girlfriends or boyfriends are examples of stress-related problems. The effects of job stress on chronic diseases are more difficult to see because chronic diseases take a long time to develop and can be influenced by many factors other than stress. Nonetheless, evidence is rapidly accumulating to suggest that stress plays an important role in several types of chronic health problems-especially cardiovascular disease, musculoskeletal disorders, and psychological disorders. PREVENTION A combination of organizational change and stress management is often the most useful approach for preventing stress at work. How to Change the Organization to Prevent Job Stress •
Ensure that the workload is in line with workers' capabilities and resources.
•
Design jobs to provide meaning, stimulation, and opportunities for workers to use their skills.
•
Clearly define workers' roles and responsibilities.
•
Give workers opportunities to participate in decisions and actions affecting their jobs.
•
Improve communications-reduce uncertainty about career development and future employment prospects.
•
Provide opportunities for social interaction among workers.
•
Establish work schedules that are compatible with demands and responsibilities outside the job.
•
Discrimination inside the workplace. (e.g. nationality and language )
St. Paul Fire and Marine Insurance Company conducted several studies on the effects of stress prevention programs in hospital settings. Program activities included (1) employee and management education on job stress, (2) changes in hospital policies and procedures to reduce organizational sources of stress, and (3) establishment of employee assistance programs. In one study, the frequency of medication errors declined by 50% after prevention activities was implemented in a 700-bed hospital. In a second study, there was a 70% reduction in malpractice claims in 22 hospitals that implemented stress prevention activities. In contrast, there was no reduction in claims in a matched group of 22 hospitals that did not implement stress prevention activities. 30
COPING WITH STRESS AT WORK PLACE With the rapid advancement of technology, the stresses faced at work have also increased. Many people dread going to work, hence the term “Monday Blues”. What is the reason for this? There is partly the fear from being retrenched in bad times, leading to greater job insecurity on the part of those who remain. Undoubtedly, occupational stress is one of the most commonly cited stressors faced by people all over the world. Stress refers to the pressure and reactions to our environment which results in psychological and physical reactions. Whilst some stress is good for motivation and increasing efficiency, too much stress can result in negative impacts such as reduced effectiveness and efficiency. More and more people are feeling isolated and disrespected at work, and this has led to greater occupational stress. Many companies have taken to consulting experts and professionals on ways to increase connectedness and motivation of their employees. Some companies organize parties and make their employees feel valued at work. These are measures to motivate employees and help them to feel secure at their jobs, translating into greater productivity. However, not all companies have such measures in place, and some have not gotten it quite right. Hence, it is up to you to make sure that you can cope with stress at your workplace, and use it to help you work better. Here are 3 simple steps to help you with coping with stress in the workplace. Step 1: Raising Awareness Help yourself to identify when you are facing rising levels of stress, tipping the scales from positive to negative. This is important, as being able to identify signs of being stressed can help you to take steps to ensure that your overall quality of life does not drop. If left unacknowledged, the problem will only snowball, leading to disastrous consequences to your health and overall wellbeing. You can identify if you are feeling stressed by checking if you have any physical or psychological reactions, such as excessive sweating or heart palpitations, or the onset of headaches, irritability or the need to escape. If you experience any of these reactions, identify if you are feeling any overwhelming negative emotions, and if you are constantly worried. Step 2: Identify the Cause 31
You need to be able to analyze the situation and identify what is causing the rise in stress. These stressors can be external and internal. External stressors refer to things beyond your control, such as the environment or your colleagues at work. Internal stressors refer to your own thinking and attitude. Often, we only start reacting to stress when a combination of stressors working together exceeds our ability to cope. Keep a diary or a list of events that have caused you to feel strong negative emotions, or that are likely stressors. This will help you to identify the causes of your stress. Whilst it is not always possible to eradicate them, we can change the way that we cope with it. Step 3: Coping with Stress In order to deal with the situation that is causing you stress, you need to calm your mind and body so as to stave off the reactions and cope with it in a positive way. This can be through different methods, such as taking time off. If a situation is triggering your stress and you are unable to calm down, remove yourself from it. Go outside and take a walk to calm down. Alternatively, you can try implementing relaxation techniques such as deep breathing. If it is an internal stressor, stop your thought process until you are able to deal with it logically. The key to making these 3 steps work for you is to practice them. These are not instantaneous solutions, and you need to condition your mind and practice them so that you can implement it when you are feeling stressed. REDUCING STRESS 1. Job analysis: We have all experienced that appalling sense of having far too much work to do and too little time to do it in. We can choose to ignore this, and work unreasonably long hours to stay on top of our workload. The risks here are that we become exhausted, that we have so much to do that we do a poor quality job and that we neglect other areas of our life. Each of these can lead to intense stress. The alternative is to work more intelligently, by focusing on the things that are important for job success and reducing the time we spend on low priority tasks. Job Analysis is the first step in doing this.
32
The first of the action-oriented skills that we look at is Job Analysis. Job Analysis is a key technique for managing job overload – an important source of stress. To do an excellent job, you need to fully understand what is expected of you. While this may seem obvious, in the hurly-burly of a new, fast-moving, high-pressure role, it is oftentimes something that is easy to overlook. By understanding the priorities in your job, and what constitutes success within it, you can focus on these activities and minimize work on other tasks as much as possible. This helps you get the greatest return from the work you do, and keep your workload under control. Job Analysis is a useful technique for getting a firm grip on what really is important in your job so that you are able to perform excellently. It helps you to cut through clutter and distraction to get to the heart of what you need to do. 2. Rational & positive thinking: You are thinking negatively when you fear the future, put yourself down, criticize yourself for errors, doubt your abilities, or expect failure. Negative thinking damages confidence, harms performance and paralyzes mental skills. Unfortunately, negative thoughts tend to flit into our consciousness, do their damage and flit back out again, with their significance having barely been noticed. Since we barely realize that they were there, we do not challenge them properly, which means that they can be completely incorrect and wrong. Thought Awareness is the process by which you observe your thoughts and become aware of what is going through your head. One approach to it is to observe your "stream of consciousness" as you think about the thing you're trying to achieve which is stressful. Do not suppress any thoughts. Instead, just let them run their course while you watch them, and write them down on our free worksheet as they occur. Then let them go. Another more general approach to Thought Awareness comes with logging stress in your Stress Diary. When you analyze your diary at the end of the period, you should be able to see the most common and the most damaging thoughts. Tackle these as a priority using the techniques below. 33
Here are some typical negative thoughts you might experience when preparing to give a major presentation: •
Fear about the quality of your performance or of problems that may interfere with it;
•
Worry about how the audience (especially important people in it like your boss) or the press may react to you;
•
Dwelling on the negative consequences of a poor performance; or
•
Self-criticism over a less-than-perfect rehearsal.
Thought awareness is the first step in the process of managing negative thoughts, as you cannot manage thoughts that you are unaware of. Rational Thinking The next step in dealing with negative thinking is to challenge the negative thoughts that you identified using the Thought Awareness technique. Look at every thought you wrote down and challenge it rationally. Ask yourself whether the thought is reasonable. What evidence is there for and against the thought? Would your colleagues and mentors agree or disagree with it? Looking at the examples, the following challenges could be made to the negative thoughts we identified earlier: •
Feelings of inadequacy: Have you trained yourself as well as you reasonably should have? Do you have the experience and resources you need to make the presentation? Have you planned, prepared and rehearsed enough? If you have done all of these, you've done as much as you can to give a good performance.
•
Worries about performance during rehearsal: If some of your practice was less than perfect, then remind yourself that the purpose of the practice is to identify areas for improvement, so that these can be sorted out before the performance.
•
Problems with issues outside your control: Have you identified the risks of these things happening, and have you taken steps to reduce the likelihood of them happening or their impact if they do? What will you do if they occur? And what do you need others to do for you? 34
•
Worry about other people's reactions: If you have prepared well, and you do the best you can, then you should be satisfied. If you perform as well as you reasonably can, then fair people are likely to respond well. If people are not fair, the best thing to do is ignore their comments and rise above them.
•
When you challenge negative thoughts rationally, you should be able to see quickly whether the thoughts are wrong or whether they have some substance to them. Where there is some substance, take appropriate action. However, make sure that your negative thoughts are genuinely important to achieving your goals, and don't just reflect a lack of experience, which everyone has to go through at some stage.
Positive Thinking & Opportunity Seeking By now, you should already be feeling more positive. The final step is to prepare rational, positive thoughts and affirmations to counter any remaining negativity. It can also be useful to look at the situation and see if there are any useful opportunities that are offered by it. By basing your affirmations on the clear, rational assessments of facts that you made using Rational Thinking, you can use them to undo the damage that negative thinking may have done to your self-confidence. Continuing the examples above, positive affirmations might be: •
Problems during practice: "I have learned from my rehearsals. This has put me in a position where I can deliver a great performance. I am going to perform well and enjoy the event."
•
Worries about performance: "I have prepared well and rehearsed thoroughly. I am well positioned to give an excellent performance."
•
Problems issues outside your control: "I have thought through everything that might reasonably happen and have planned how I can handle all likely contingencies. I am very well placed to react flexibly to events."
•
Worry about other people's reaction: "Fair people will react well to a good performance. I will rise above any unfair criticism in a mature and professional way."
Make sure that identifying these opportunities and focusing on them is part of your positive thinking. 35
3. LAUGHTER During stress, the adrenal gland releases corticosteroids, which are converted to cortical in the blood stream. These have an immunosuppressive effect. Dr. Lee Berk and fellow researcher Dr. Stanley Tan at Loma Linda University School of Medicine have produced carefully controlled studies showing that the experience of laughter lowers serum cortical levels, increases the amount and activity of T lymphocytes—the natural killer cells. Laughter also increases the number of T cells that have suppresser receptors. What Laughter Can Do Against Stress And Its Effects? •Laughter lowers blood pressure and reduces hypertension. •It provides good cardiac conditioning especially for those who are unable to perform physical exercise. •Reduces stress hormones (studies shows, laughter induces reduction of at least four of neuroendocrine hormones—epinephrine, cortical, dopac, and growth hormone, associated with stress response). • Laughter cleanses the lungs and body tissues of accumulated stale air as it empties more air than it takes in. It is beneficial for patients suffering from emphysema and other respiratory ailments. • It increases muscle flexion, relaxation and fluent blood circulation in body. • Boosts immune function by raising levels of infection-fighting T-cells, disease-fighting proteins called Gamma-interferon and disease-destroying antibodies called B-cells. • Laughter triggers the release of endorphins—body's natural painkillers. • Produces a general sense of well-being.
36
RESEARCH METHODOLOGY Research is defined as human activity based on intellectual application in the investigation of matter. The primary purpose for applied research is discovering, interpreting, and the development of methods and systems for the advancement of human knowledge on a wide variety of scientific matters of our world and the universe. Research can use the scientific method, but need not do so. Research methodology is a way to systematically solve the research problem. The research methodology in the present study deals with research design, data collection methods, sampling methods, survey, analysis and interpretations. APPROACHES TO RESEARCH Descriptive approach is one of the most popular approaches these days. In this approach, a problem is described by the researcher by using questionnaire or schedule. This approach enables a researcher to explore new areas of investigation. RESEARCH DESIGN A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. •
A well structured questionnaire is framed.
•
Data is collected from the employees in the BANKING INDUSTRY.
•
Findings are made and necessary suggestions and recommendations are given.
DATA SOURCES There are two types of data collection namely primary data collection and secondary data collection. PRIMARY DATA The primary data is defined as the data, which is collected for the first time and fresh in nature, and happen to be original in character through field survey.
37
SECONDARY DATA The secondary data are those which have already been collected by someone else and have been passed through statistical process. DATA COLLECTION METHOD The data collection method used in this research is questionnaire method. Here the data are systematically recorded from the respondents. RESEARCH TOOL A structured questionnaire has been prepared to get the relevant information from the respondents. The questionnaire consists of a variety of questions presented to the respondents for their despondence. SAMPLING Sampling is that part of statistical practice concerned with the selection of individual observations intended to yield some knowledge about a population of concern, especially for the purposes of statistical inference. Each observation measures one or more properties (weight, location, etc.) of an observable entity enumerated to distinguish objects or individuals. Survey weights often need to be applied to the data to adjust for the sample design. Results from probability theory and statistical theory are employed to guide practice. SAMPLE UNIT The employees of the BANKING INDUSTRY are the sample unit in the survey. SAMPLE SIZE The sample size chosen for this study is 30 as instructed by the department since it is a MINI RESEARCH PROJECT. SAMPLING METHOD Sampling methods are classified as either probability or non probability. In probability samples, each member of the population has a known non-zero probability of being selected. Probability methods include random sampling, systematic sampling, and stratified sampling. In non probability sampling, members are selected from the population in some nonrandom 38
manner. These include convenience sampling, judgment sampling, quota sampling, and snowball sampling. The advantage of probability sampling is that sampling error can be calculated. Sampling error is the degree to which a sample might differ from the population. When inferring to the population, results are reported plus or minus the sampling error. In non probability sampling, the degree to which the sample differs from the population remains unknown. In this research, the sampling methods used are Random sampling, Convenience sampling and Snowball sampling
Random sampling is the purest form of probability
sampling. Each member of the population has an equal and known chance of being selected. When there are very large populations, it is often difficult or impossible to identify every member of the population, so the pool of available subjects becomes biased.
Judgment sampling is a common non-probability
method. The researcher selects the sample based on judgment. This is usually an extension of convenience sampling. For example, a researcher may decide to draw the entire sample from one "representative" city, even though the population includes all cities. When using this method, the researcher must be confident that the chosen sample is truly representative of the entire population.
Snowball sampling is a special non-probability method
used when the desired sample characteristic is rare. It may be extremely difficult or cost prohibitive to locate respondents in these situations. Snowball sampling relies on referrals from initial subjects to generate additional subjects. While this technique can dramatically lower search costs, it comes at the expense of introducing bias because the technique itself reduces the likelihood that the sample will represent a good cross section from the population.
STATISTICAL METHODS USED Percentage analysis Pie diagrams 39
PERCENTAGE ANALYSIS: Percentage refers to a special kind of ratio. Percentages are used in making comparison between two or more series of data. Percentage is used to describe relative terms the distribution of two or more series of data. No. of Respondents Percentage of Respondents
=
-----------------------Total Respondents
40
X 100
41
DEMOGRAPHIC PROFILE 1.AGE PROFILE OF RESPONDENTS TABLE 1 AGE Frequency Valid
Percent
25 – 30
6
20.0
30 – 35
14
46.7
35 – 40
10
33.3
Total
30
100.0
INFERENCE: 42
Maximum respondents were in the age group of 30 – 35.
2.GENDER PROFILE OF THE RESPONDENTS
TABLE 2 GENDER Frequency Valid
Percent
MALE
15
50.0
FEMALE
15
50.0
Total
30
100.0
INFERENCE: There are equal number of male & female respondents.
43
3.WORK EXPERIENCE OF RESPONDENTS TABLE 3 EXPERIENCE Frequency Valid
< 5 YEARS
Percent 9
30.0
5 - 10 YEARS
17
56.7
> 10 YEARS
4
13.3
30
100.0
Total
INFERENCE: More than 50% of the respondents had a work experience of about 5 – 10 years.
4.EDUCATIONAL QUALIFICATION OF RESPONDENTS 44
TABLE 4 QUALIFICATION Frequency Valid
Percent
UG
21
70.0
PG
9
30.0
30
100.0
Total
INFERENCE: 70% of the respondents are PG qualified with an MBA or equivalent degree.
Q1. Do you suffer with difficulty in sleeping? 45
TABLE 1.1 RESPONDENTS WITH DIFFICULTY IN SLEEPING Frequency Valid
Percent
NOT AT AL
8
26.7
RARELY
8
26.7
SOMETIMES
7
23.3
OFTEN
5
16.7
VERY OFTEN
2
6.7
30
100.0
Total
INFERENCE: From the above table, it is understood that 26.7% of the employees rarely have any trouble in sleeping ,23.3% find it difficult sometimes ,16.7% face the problem very often and 6.7% of the employees find extreme difficulty in sleeping. Therefore, it is observed that for most parts,the employees do not have any problems with sleeping.
Q2. Do you find it difficult to concentrate? 46
TABLE1.2 RESPONDENTS WITH DIFFICULTY IN CONCENTRATING Frequency Valid
NOT AT ALL
Percent 5
16.7
RARELY
11
36.7
SOMETIMES
10
33.3
4
13.3
30
100.0
OFTEN Total
INFERENCE: It is clear that 16.7% of the employees have absolutely no difficulty in concentrating,36.7% of them rarely have a problem ,33.3% sometimes and only a small group of 13.3% find it difficult to concentrate at work. Therefore, it can be said that mostly the employees have no trouble in concentrating at work.
Q3. Do financial problems get you down? 47
TABLE 1.3 RESPONDANTS WITH FINANCIAL PROBLEMS Frequency Valid
Percent
NOT AT ALL
10
33.3
SOMETIMES
12
40.0
8
26.7
30
100.0
OFTEN Total
INFERENCE: The table shows that, 40% of the employees feel that financial problems put them down sometimes, 30% felt that it did not affect them at all and 26.7% of them felt that very often it caused them problems. Therefore, it is identified that financial trouble does put down people sometimes.
Q4. Do you find yourself 'self-medicating' with additional alcohol, nicotine or other substances? 48
Table 1.4 RESPONDENTS AND SUBSTANCE ABUSE Frequency Valid
Percent
NOT AT ALL
7
23.3
RARELY
3
10.0
SOMETIMES
5
16.7
OFTEN
8
26.7
VERY OFTEN
7
23.3
30
100.0
Total
INFERENCE: This table indicates that 26.7% of the employees ‘‘self medicate’’ quite often, 23.3% resort to alcoholism etc very frequently to relieve stress while 23.3% of them do not resort to substance abuse at all . It shows that most employees give into excessive alcoholism or some other forms of self medication most times to reduce stress
Q5. Do you get angry quickly? TABLE 1.5 49
RESPONDENTS AND FREQUENCY OF ANGER Frequency Valid
Percent
NOT AT ALL
10
33.3
SOMETIMES
12
40.0
VERY OFTEN
8
26.7
30
100.0
Total
INFERENCE: 40% of the employees claim that they sometimes get angry often while 33.3% feel that they do not get angry very often. Also 26.7% of them say that they get very angry most of the time. Therefore, it is inferred that most of the employees are relatively calm and get angry only sometimes.
Q6. Do you find you are prone to negative thinking about your job? 50
TABLE 1.6 RESPONDENTS WITH JOB PESSIMISM Frequency Valid
Percent
NOT AT AL
10
33.3
RARELY
13
43.3
7
23.3
30
100.0
SOMETIMES Total
INFERENCE: The table clearly shows that the employees have no negative thoughts about their job since 40% of them feel that it happens only rarely and 33.3.% say that it never happens. Therefore, the rate of job pessimism or negative thinking about one’s job is very low.
Q7. When you have been ill with relatively minor illnesses, does it take you a long time to recover? 51
Table 1.7 RESPONDENTS WITH SLOW RECOVERY DURING ILLNESS Frequency Valid
Percent
NOT AT ALL
11
36.7
RARELY
11
36.7
8
26.7
30
100.0
SOMETIMES Total
INFERENCE: From the table, it is seen that most of the employees (36.7%) recuperate pretty quickly from an illness while only 26.7% of them say that sometimes a long slow recovery period is taken. It is inferred that most of the employees get back to their feet pretty soon after an illness and do not stay in bed for excessive periods of time.
Q8. Do you feel you are isolated, with no-one to talk to? 52
TABLE 1.8 RESPONDENTS WHO FEEL ISOLATED Frequency Valid
Percent
NOT AT ALL
14
46.7
RARELY
10
33.3
6
20.0
30
100.0
SOMETIMES Total
INFERENCE: This table shows that majority of the people do not feel isolated or lonely. 46.7% of them do not feel any isolation while 33.3% say it happens rarely. Therfore,it is seen that most of the employees have someone to talk to and relate with and are not isolated or alone.
Q9. Do you feel out of control and as if you're not in the driving seat of your life and health? 53
TABLE1.9 RESPONDENTS WITH NO CONTROL OF LIFE Frequency Valid
Percent
RARELY
12
40.0
SOMETIMES
12
40.0
6
20.0
30
100.0
OFTEN Total
INFERENCE: This table shows that most of the employees have control of their lives and are in the driving seat of their own lives while only 20% felt that they are being controlled by others and not themselves.
Q10. Do you 'snack' instead of eating 'wholesome' meals? 54
TABLE 1.10 RESPONDENTS WITH BAD EATING HABITS Frequency Valid
SOMETIMES OFTEN VERY OFTEN Total
Percent 9
30.0
12
40.0
9
30.0
30
100.0
INFERENCE: The values in the table clearly indicate that all the employees indulge in snacking rather than in consumption of wholesome nutritious meals due heavy work pressure ,time constraints and job demands.
Q11. When conflict arises at work or at home, do you tend to over-
react? TABLE 1.11 55
RESPONDENTS WHO OVER REACT TO CONFLICTS Frequency Valid
NOT AT ALL RARELY SOMETIMES Total
Percent 9
30.0
13
43.3
8
26.7
30
100.0
INFERENCE: It is seen that most people do not over react to conflicts either at home or at work. Only 26.7% of them tend to over react in some situations.
Q12. Do you feel that there is more work to do than you realistically have the capacity to do? 56
TABLE 1.12 RESPONDENTS WHOSE WORK EXCEEDS ONE'S CAPACITY Frequency Valid
RARELY
Percent 2
6.7
SOMETIMES
11
36.7
OFTEN
12
40.0
5
16.7
30
100.0
VERY OFTEN Total
: INFERENCE: The table shows that most of the employees feel that their job demands and requires more than what they are actually capable of doing. In most cases, their workload exceeds their capacity. Only a small group (6.7%) felt that it was not so.
Q13. Do you feel caught between the pressures of responsibility for family and work life? 57
TABLE 1.13 RESPONDENTS CAUGHT BETWEEN FAMILY AND WORK PRESSURE Frequency Valid
Percent
NOT AT ALL
3
10.0
RARELY
5
16.7
14
46.7
OFTEN
6
20.0
VERY OFTEN
2
6.7
30
100.0
SOMETIMES
Total
INFERENCE: From the table it is seen that 46.7% of the employees feel that sometimes they are trapped between the pressures of home and work ,20% feel caught often and 16.7% felt that it happened very rarely.
Q14. Do you feel under – par at the beginning of the day? 58
TABLE 1.14 RESPONDENTS WHO FEEL UNDER - PAR AT THE BEGINNING OF A WORK DAY Frequency Valid
NOT AT ALL
Percent 4
13.3
16
53.3
SOMETIMES
8
26.7
OFTEN
1
3.3
VERY OFTEN
1
3.3
30
100.0
RARELY
Total
INFERENCE: The table clearly shows that 53.3% of the employees rarely feel under-par even at the beginning of a working day and only a handful of employees (3.3%) actually feel under-par on working days.
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Q15. Do you shy away from social contact with colleagues and friends? TABLE 1.15 RESPONDENTS WHO SHY AWAY FROM SOCIAL CONTACT WITH COLLEAGUES Frequency Valid
NOT AT ALL
Percent
18
60.0
RARELY
9
30.0
SOMETIMES
3
10.0
30
100.0
Total
INFERENCE : It clearly shows that majority of the employees are actively sociable and do not shy away from social contact especially with colleagues.
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Q16. Do other people comment on your not taking care of your
appearance? TABLE 1.16 RESPONDENTS WHOSE APPEARANCES ARE COMMENTED UPON Frequency Valid
Percent
NOT AT ALL
16
53.3
RARELY
12
40.0
SOMETIMES
1
3.3
OFTEN
1
3.3
30
100.0
Total
INFERENCE: From the table and the pie chart, it is clearly understood that most of the employees are well dressed and maintain a certain level of grooming and therefore are not commented upon for shabby appearances by their colleagues.
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Q17. Do you claim you have no time for hobbies and interests? TABLE 1.17 RESPONDENTS WITH NO TIME FOR THEMSELVES Frequency Valid
Percent
NOT AT ALL
1
3.3
RARELY
1
3.3
SOMETIMES
11
36.7
OFTEN
10
33.3
7
23.3
30
100.0
VERY OFTEN Total
INFERENCE: The pie chart and table values clearly indicate that most of the employees are so busy and caught up with work pressure that they barely have any time for themselves. They have almost no time for their hobbies and self interests. 62
Q18. Do you feel misunderstood or unappreciated by your colleagues, friends or family members? TABLE 1.18 RESPONDENTS WHO FEEL MISUNDERSTOOD/ UNAPPRECIATED BY OTHERS Frequency Valid
NOT AT AL
Percent
17
56.7
RARELY
7
23.3
SOMETIMES
6
20.0
30
100.0
Total
INFERENCE: Here again, most of the employees are satisfied and not misunderstood or unappreciated by their colleagues or family members. Only 20% feel that at certain times they are misunderstood. 63
Q19. Do you feel you have to be the 'coper' for the family or for colleagues, with no option for seeking support for yourself? TABLE 1.19 RESPONDENTS WHO ARE COPERS FOR FAMILY/ COLLEAGUES WITH NO SUPPORT FOR THEMSELVES Frequency Valid
NOT AT ALL
Percent 1
3.3
RARELY
12
40.0
SOMETIMES
12
40.0
5
16.7
30
100.0
OFTEN Total
INFERENCE: Here there are 2 strong groups- one group(40%) feel that very rarely do they have to be copers for everyone else with no support for themselves while the other group also of 40% feel that sometimes they have no one to seek support from.
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Q20. Would you take a sick day, not because you feel ill but overwhelmed, just to keep your 'head above water' emotionally, mentally and physically? TABLE 1.20 RESPONDENTS WHO TAKE A DAY OFF JUST TO RECUPERATE EMOTIONALLY, MENTYALLY & PHYSICALLY Frequency Valid
Percent
NOT AT ALL
6
20.0
RARELY
1
3.3
SOMETIMES
12
40.0
OFTEN
10
33.3
1
3.3
30
100.0
VERY OFTEN Total
INFERENCE: The chart and table indicate that many employees call in a sick day at work not because they are really sick but because they are too overwhelmed and need time to recuperate physically,mentally and emotionally. 65
FINDINGS
1. Most of the respondents have many years of long association with the organisation 2. Most of the employees feel that they have no time for themselves and their personal lives because of work overload. 3. The respondents are sociable and have no problems interacting with their colleagues. 4. Employees’ are satisfied with the working conditions. 5. Role overload is the major cause of stress. 6. The respondents face a moderate level of stress
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SUGGESTIONS
The employees must give importance to time management techniques there by they can complete their work within the specified time.
Many tasks can be delegated to subordinates without losing effectiveness so that we can reduce the overload of work.
Introduce Flexi time
Organisations must introduce recreational zones within the premises for the employees to unwind.
Adopt the work to home transition strategy. It means instead of carrying the pressures of the work to home, the suggestion is to start the unwinding process during the work day and enter the home in a relaxed and peaceful mind.
Counseling
the employees when they face problems, because counseling is the
discussion of a problem that usually has emotional content with an employee in order to help the employee cope better.
The organization must introduce Employee Assistance Programmes (EAPs) and stress control workshops accordingly to the level of employees, because there is a strong relation between the level of stress and level of employees. EAP includes counseling employees who seek assistance on how to deal with alcohol and drug abuse, managing personal finances, handling conflicts at the work place, dealing with marital and other family problems, and coping with health problems.
Engaging the bored employee in aerobic exercise, because it stimulates the brain and the body. Also the employee must practice meditation and yoga regularly.
EMPLOYEES’ SUGGESTION TO REDUCE STRESS This project consists of the information about the employees, working in the banking industry, who are undergoing stress. So considering this factor, the topic becomes one of the most important part of the project as it consists of the opinion of the employees who work in 67
the banks. The response of employees from major banks in the city was marvellous as they gave their valuable opinion about reducing stress as a result of the last question included in the questionnaire. The opinion of the employees were as follows: •
“Just smile away” An employee- HDFC Bank
•
“Just believe in yourself and just do what your heart wants” An employee-
HDFC Bank •
-“Talking to family member “- Watching TV or listening good music, -
Going for a walk or long drive” An employee- HDFC Bank •
“Believe in God” An employee- Bank of Baroda
•
“Respect yourself and give time to yourself” An employee- CitiBank
•
“Working in environment welfares, lot of positive attitude. Positive attitude is
only that reduces stress and achieves success. Most of the people frustrate due to lack of positivity and stress level climbs up due to that. So get positive attitude about work, about life, and forget the stress” An employee- CitiBank •
“We should do such activities from which we get happiness and also make
others happy. Pass your time with your close friends and relatives.” An employeeICICI Bank •
“Play and watch cricket” An employee- ICICI Bank
•
“Listen music and spend time with family” An employee- Deutsche Bank
•
“Get adjusted with others, Find and spend time for prayer, Study the
scriptures, See oneness in all, All are manifested of the supreme GOD” An employee- Deutsche Bank
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CONCLUSION
Stress in the work place has become the black plague of the present century. Much of the stress at work is caused not only by work overload and time pressure but also by lack of rewards and praise, and more importantly, by not providing individuals with the autonomy to do their work as they would like. Organization must begin to manage people at work differently,improve physical work environment, treat them with respect and value their contribution. If we enhance the psychological well being and health of the employees,the organizational revenue increases and there is employee retention as well.. Because it is said that,
“A Healthy Employee is a Productive Employee”
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BIBLIOGRAPHY BOOKS 1. Jamal M. “Job stress-prone Type A behaviour, personal and organizational consequences”, Canadian Journal Administration Sciences, 1985. pp 360-74. 2. A. P and J. M. Atieh, “Studying job stress: Are we making mountains out of molehills?” Journal of occupational behavior, 1987 pp115-26. 3. PaulHersey, Kenneth H. Blanchard, Dewey E. Johnson –“Organizational Behavior”, Prentice Hall of India Pvt. Ltd, 1998. 4. Stephen P. Robbins, “Organizational Behavior”, Prentice Hall, U .K. 1999. 5. Cooper. C. L. and Marshall. J, “Understanding Executive Stress”, The McMillan Press Ltd, 1978 p 4. 6. K. Aswathappa, “Organizational Behavior”,Himalaya Publishing House
WEBSITES 1. http://www.lifepositive.com/Mind/psychology/stress/stress.asp 2. http://www.medicinenet.com/stress/article.htm 3. http://helpguide.org/mental/stress_signs.htm 4. http://www.helpguide.org/mental/stress_management_relief_coping.htm 5. http://stress.about.com/ 6. http://www.studygs.net/stress.htm 7. www.wikipedia.com 8. www.finance.indiamart.com
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QUESTIONNAIRE NAME:
AGE:
GENDER:
QUALIFICATION:
1 Do you suffer with difficulty in sleeping? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often 2
Do you find it difficult to concentrate? a. Not at all
b. Rarely
c. Sometimes
d. Often
c. Sometimes
d. Often
e. Very Often 3
Do financial problems get you down? a. Not at all
b. Rarely
e. Very Often
4
Do you find yourself 'self-medicating' with additional alcohol, nicotine or other substances? a. Not at all
b. Rarely
c. Sometimes
d. Often
c. Sometimes
d. Often
e. Very Often \
5 Do you get angry quickly? a. Not at all
b. Rarely
e. Very Often
72
6
Do you find you are prone to negative thinking about your job? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
7
When you have been ill with relatively minor illnesses, does it take you a long time to recover? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
8
Do you feel you are isolated, with no one to talk to? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
9
Do you feel out of control, as if you are not in the driving seat of your life and health? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
10
Do you snack instead of eating “wholesome meals”? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often 11
When conflict arises at work or at home, do you tend to over-react? a. Not at all
b. Rarely
c. Sometimes
e. Very Often
73
d. Often
12
Do you feel that there is more work to do than you realistically have the capacity to do? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
13
Do you feel caught between the pressures of responsibility for family and for work? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
14
Do you feel 'under par' even at the beginning of a working day? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
15
Do you shy away from social contact with colleagues and friends? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often 16
Do other people comment on your not taking care of your appearance? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
17
Do you claim you have no time for hobbies and interests? a. Not at all
b. Rarely
c. Sometimes
e. Very Often
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d. Often
18
Do you feel misunderstood or unappreciated by your colleagues, friends or family members? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
19
Do you feel you have to be the “coper” for your family or colleagues with no option for seeking support for yourself? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
20
Would you take a sick day not because you feel ill but overwhelmed, just to keep your “head above water” emotionally, mentally & physically? a. Not at all
b. Rarely
c. Sometimes
d. Often
e. Very Often
21 Kindly give us your suggestions, if any, to manage stress _____________
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