A Project Study Report On The ICICI Bank Ltd, Udaipur Analysis of Work Life Balance in Banking Sector

Submitted in partial fulfillment for the Award of degree of Master of Business Administration

Submitted By: Richa Nerwal MBA PART II 2011-2013

Submitted To: Prof. Sheela Dashora

CERTIFICATE

This is certify that the project work done on Analysis of Work Life Balance in Banking Sector submitted to The ICICI Bank Ltd, Udaipur for the partial fulfillment of requirement of award of MBA programme. This benefited work is carried out by at The ICICI Bank Ltd, Udaipur (Raj).

DATE

:-

RICHA NERWAL MBA II Year

PLACE:- UDAIPUR

PREFACE
Work life & family life are two sides of a coin, both the aspects are equally important for an individuals life. In the zooming ahead scenario it has become quite difficult to have an equal balance between the work & family life. So, here starts the framework of this major research project.

The study is based on analysis of work life balance in banking sector which is of great importance for each & every employee. The study covers various angles of family life and work life stress situation and remedial actions.

In recent years, employers, unions, policy makers and researchers have all tried to identify ways that might better assist employees to balance paid work with the other aspects of their lives such as study, leisure, and caring for others.

Employee engagement has been identified as critical to competitive advantage in a labour market where skilled, committed people are increasingly hard to find and keep. Many of the factors that impact on employee engagement have been identified, or at least speculated on. In this exploratory research, the EEO Trust investigates whether supporting work-life balance results in a more engaged workforce which gives greater discretionary effort at work. Planned research in some of workplaces in supporting work-life balance will ask employees whether their employers support of work-life balance encourages them to go the extra mile.

ACKNOWLEDGEMENT
I take the opportunity to express my profound sense of gratitude and sincere indebt a sympathetic, pains taking, and kind guidance of whom, I was able to complete this Major Research Project. I thank Prof.Sheela Dashora for her guidance in completion of my project.

It is my privilege and honor to have an opportunity of working with The ICICI Bank Ltd., Udaipur to undertake project work.

I wish to extend my gratitude to all those who helped me at various stages into this report. I wish to thank for their valuable guidance and support throughout the course of this project.

I also thank all the employees at bank who parted with their valuable time and extended full cooperation and support towards me.

RICHA NERWAL MBA II Year

EXECUTIVE SUMMARY

Work life balance is an umbrella term for expectations, events, practices, structures, or rules that stop us from getting most out of work and the rest of our lives. Issues such as working hours , and leave entitlements, workplace stress, workplace discrimination , employees terms and conditions, health and safety concerns, the two-tier workforce, pay levels and the living wage all have an impact on our work life balance.

The work life and family life imbalance causes stress and strain especially to the executives as they have very less time to be with their members of the family. There are various factors which cause stress & therefore a study is necessary.

For conducting the study, The ICICI Bank Ltd. at Udaipur city is selected because here the employees have to spend most of their time in the bank and these results in stress in their work life and family life. Therefore methods and techniques to tackle this situation has become need of the hour.

The objectives of this study are: To study the work life balance in banking sector To know how the work pressure can effect family life To know the results of work life imbalance on efficiency, health and personal as well as professional life of employees of banks. To study how the nature of family structure influences work related stress To know the marital status of the individuals affect their lives

The concept of work-life balance has developed out of demographic and social changes that have resulted in a more diverse and declining workforce and different family/work models. Encouraging work-life balance is seen as a way of attracting and retaining the labour force needed to support economic well-being. This review of research and literature in the areas or work-life balance, workplace culture, employee engagement, discretionary effort and

productivity aims to demonstrate the links between these factors. A body of research supports a positive relationship between work-life balance and productivity. This includes individual case studies, statistical research across a range of organisations and reviews of a number of studies. However, workplace culture is identified as an intermediary factor in whether work-life balance is related to increased productivity. A positive correlation is dependent on a workplace culture that supports using work-life initiatives. Many studies, including surveys by New Zealands Department of Labour, have found a positive relationship between a workplace culture that is supportive of work-life balance and use of work-life provisions. Key aspects of workplace culture that affect the link between work-life balance and productivity are managerial support, career consequences, gender differences in attitudes and use, attitudes and expectations of hours spent in the workplace, and perceptions of fairness in eligibility for work-life options. Discretionary effort is the extent to which employees give extra effort to their work. It is one of the outcomes of employee engagement, which also involves a mental and emotional commitment to the job/organisation. Discretionary effort is given by an employee in exchange for some benefit and results in increased productivity.

Although little research has been done specifically linking support for worklife balance to discretionary effort and employee engagement, the evidence to date indicates that a positive relationship depends on workplace culture. It can be argued that workplaces can improve employee engagement, discretionary effort and productivity by supporting work-life balance by means of a people-centric culture that wholeheartedly supports work-life balance Key factors identified in changing workplace cultures are: identifying the business case, finding a board level champion, changing organisational language and behaviour, monitoring/measurement, and integration of worklife/diversity policies into mainstream policies.

For conducting the study various tools are used to collect data. The major emphasis was given to the questionnaire method and the respondents were selected on the basis of random selection among the different levels, different authorities and different departments of certain banks of Udaipur city. For collection of secondary data various newspapers, journals and other periodicals containing articles were used. The collected primary data was completely tabulated with the help of tables and percentages were calculated. From the table information was analyzed and relevant inferences were drawn and wherever necessary graphs were made for the presentation of data. From the collected data, it was very clear that it is a difficult affair for the executives to manage the family as well as work life. Work and family life imbalance will have definite impact on the stress and strain of any executives in banks.

The findings of the study are: Majority of the executives belong to nuclear family and thereby the level of stress is more as compared to those employees who belong to joint family. For married employees it is more difficult to concentrate on their personal life because of their work pressure and therefore more work load in banks resulted in poor family relation. Long working hour culture directly affects the level of efficiency of employees thereby causing stress at work resulting into hypertension and other diseases. Family members of most of the employees feel neglected when employees have to overstay in the banks.

So to conclude the family and work life are both important to employees in any service sector and if these two are not maintained properly it creates stress and strain and results into various diseases. This study is found important because it tries to know how the work life and family life interface results into stress. This study also throws light on the suggestions to overcome imbalance in work and family life in order to keep the profile of the executives high and also keep their family life happy which in the long run benefits the organization in achieving its long term goals. This study has very wide aspects because of its multiple, complex and unique variables for future researchers.

CONTENTS Sr. No. Subject Covered Page No.

Introduction to Banking Industry

10

Indian Banking Industries

13- 14

THE ICICI BANK LTD

15

Introduction to the topic

23 - 44

.Research Methodology

45

Type of Research

46

Title of the study

47

Objectives of the study

48

Sampling techniques

48

Scope of the study

49

Data analysis & interpretation

51-68

Facts & Findings

69-70

Conclusions

71

Recommendation & suggestions

73

Limitations of the study

80

Appendix

81

10

Bibliography

83

10

INTRODUCTION TO BANKING INDUSTRY

BANKING STRUCTURE IN INDIA

Scheduled Banks in India

(A) Scheduled Commercial Banks

Public sector Banks

Private sector Banks

Foreign Banks in India

Regional Rural Bank

(28) Nationalized Bank Other Public Sector Banks (IDBI) SBI and its Associates

(27) Old Private Banks New Private Banks

(29)

(102)

11

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative Banks (55)

Scheduled State Cooperative Banks (31)

Here we more concerned about private sector banks and competition among them. Today, there are 27 private sector banks in the banking sector: 19 old private sector banks and 8 new private sector banks. These new banks have brought in state-of-the-art technology and Aggressively marketed their products. The Public sector banks are Facing a stiff competition from the banks. new private sector

The banks which have been setup in the 1990s under the guidelines of the Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS.

New Private Sector Banks Superior Financial Services Designed Innovative Products Tapped new markets Accessed Low cost NRI funds Greater efficiency

12

INDIAN BANKING INDUSTRIES

The Indian banking market is growing at an astonishing rate, with Assets expected to reach US$1 trillion by 2010. An expanding economy, middle class, and technological innovations are all contributing to this growth. The countrys middle class accounts for over 320 million people. In correlation with the growth of the economy, rising income levels, increased standard of living, and affordability of banking products are promising factors for continued expansion.

The Indian banking Industry is in the middle of an IT revolution, Focusing on the expansion of retail and rural banking. Players are becoming increasingly customer - centric in their approach, which has resulted in Banks

innovative methods of offering new banking products and services.

13

are now realizing

the importance of being a big player and are beginning and acquisitions to take advantage of regulation. Indian banking

to focus their attention on mergers

economies of scale and/or comply with Basel II

industry assets are expected to reach US$1 trillion by 2010 and are poised to receive a greater infusion of foreign capital, says Prathima Rajan, analyst in Celent's banking group and author of the report. The banking industry

should focus on having a small number of large players that can compete globally rather than having a large number of fragmented players."

UPCOMING FOREIGN BANKS IN INDIA

By 2009 few more names is going to be added in the list of foreign banks in India. This is as an aftermath of the sudden interest shown by Reserve Bank

of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by EuroMoney magazine, Switzerland's UBS.

The following are the list of foreign banks going to set up business in India:

Royal Bank of Scotland Switzerland's UBS US-based GE Capital Credit Suisse Group Industrial and Commercial Bank of China

14

INTRODUCTION TO ORGANIZTION: History

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.

After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based ICICI Bank was established in 1994 by the Industrial Credit and Investment Corporation of India, an Indian financial institution, as a wholly owned subsidiary. The parent company was formed in 1955 as a joint-venture of

15

the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry.[ The bank was initially known as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged into ICICI Bank. ICICI Bank launched internet banking operations in 1998. ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001, and sold additional stakes to institutional investors during 2001-02. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group, offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depository shares issue generating a demand book 13 times the offer size. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. In 2008, following the 2008 financial crisis, customers rushed to ATM's and branches in some locations due to rumors of adverse financial position of ICICI Bank. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumors. Creation of market infrastructure in India ICICI Bank has contributed to set up different institutions which include the following: National Stock Exchange The National Stock Exchange was promoted by Indias leading financial institutions (including ICICI Ltd.) in 1992 on behalf of the Government of India with the objective of establishing a nationwide trading facility for equities, debt instruments and hybrids, by ensuring equal access to investors all over the country through an appropriate communication network

16

Credit Rating Information Services of India Limited In 1987, ICICI Ltd. along with UTI set up CRISIL as India's first professional credit rating agency. CRISIL offers a comprehensive range of integrated products and service offerings which include credit ratings, capital market information, industry analysis and detailed reports.
National Commodities and Derivatives Exchange Limited

NCDEX is a professionally managed online multi-commodity exchange, set up in 2003, by ICICI Bank Ltd, LIC, NABARD, NSE, Canara Bank, CRISIL, Goldman Sachs, Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Punjab National Bank Financial Innovation Network and Operations Pvt Ltd. ICICI Bank has facilitated setting up of "FINO Cross Link to Case Link Study" in 2006, as a company that would provide technology solutions and services to reach the underserved and underbanked population of the country. Using cutting edge technologies like smart cards, biometrics and a basket of support services, FINO enables financial institutions to conceptualise, develop and operationalise projects to support sector initiatives in microfinance and livelihoods. Entrepreneurship Development Institute of India Entrepreneurship Development Institute of India (EDII), an autonomous body and not-for-profit society, was set up in 1983, by the erstwhile apex financial institutions like IDBI, ICICI, IFCI and SBI with the support of the Govt. of Gujarat as a national resource organisation committed to entrepreneurship development, education, training and research.

Subsidiaries
]Domestic

ICICI Lombard ICICI Prudential Life Insurance Company Limited ICICI Securities Limited ICICI Prudential Asset Management Company Limited ICICI Venture ICICI Home Finance ICICI direct.com ICICI fund

International 17

ICICI Bank UK PLC ICICI Bank Canada ICICI Bank Eurasia LLC

Acquisitions

1996: SCICI Ltd. A diversified financial institution with headquarters in Mumbai 1997: ITC Classic Finance. Incorporated in 1986, ITC Classic was a nonbank financial firm that engaged in hire,m purchase, and leasing operations. At the time of being acquired, ITC Classic had eight offices, 26 outlets, and 700 brokers. 1998: Anagram Finance. Anagram had built up a network of some 50 branches in Gujerat, Rajastan, and Maharashtra that were primarily engaged in retail financing of cars and trucks. It also had some 250,000 depositors. 2001: Bank of Madura 2002: The Darjeeling and Simla branches of Grindlays Bank 2005: Investitsionno-Kreditny Bank (IKB), a Russian bank 2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916, and 30% owned by the Bahte family. Its headquarter were in Sangli in Maharashtra, and it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively evenly split between metropolitan areas and rural or semi-urban areas. 2010 Bank of Rajasthan

Profile:
The ICICI Bank Ltd. is a private sector bank. It has more than branches all over India with prominent presence in Rajasthan, having specialized forex and industrial finance branches.

Present Board of Directors: 18

Director Name

Designation

K V Kamath Chanda D Kochhar K Ramkumar N S Kannan Rajiv Sabharwal Arvind Kumar Homi R Khusrokhan Sridar A Iyengar V Sridar Tushaar Shah M S Ramachandran Sandeep Batra Ajay Gupta Anita Pai Arvind Kumar G Srinivas Girish Nayak H Sriram K M Jayarao Kumar Ashish M S Ramachandran

Non-Executive Chairman Managing Director & Chief Executive Officer Executive Director Executive Director & CFO Executive Director Govt.of India Nominee Director Director Director Director Director Company Secretary Senior General Manager Senior General Manager Director Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Director

19

Maninder Juneja Mukeshkumar Jain Murali Ramakrishnan Pravir Vohra Rahul Vohra Rakesh Jha Ravi Narayanan S Dhamodaran Sanjay Chougule Sanjeev Mantri Sanker Parameswaran Saurabh Singh Shilpa Kumar Sudhir Dole Suresh Badami Suvek Nambiar Swati Piramal T K Srirang Vijay Chandok

Senior General Manager Senior General Manager Senior General Manager President Senior General Manager CFO & Sr. General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Senior General Manager Director Senior General Manager President

20

ZarinDaruwala

President

Udaipur (Regional office)

_______________________________________________________________ __ Personal General Credit Law Administrative Banking Administrative Technology deptt. Deptt. deptt. deptt. deptt. deptt. deptt. Sector Management Information Priority Asset

SENIOR MANAGER --------------------------------------------- DEPUTY MANAGER DEPUTY MANAGER

There are 15 branches of ICICI Bank in Udaipur city which are as under:

21

1 .ICICI Bank FLOOR, MADHUBAN

UDAIPUR 000045

MADHUBANI, 2 - C, GROUND

, UDAIPUR, RAJASTHAN. 313001

2. ICICI Bank

UDAIPUR 000883

ICICI BANK LTD.,

BUILDING NO. 1F, 1G & 1H, BUS STAND ROAD, NEXT TO PARAS HOTEL, UDIAPOLE, UDAIPUR - 313001 (RAJASTHAN)

3. Icici Bank

UDAIPUR PANCHWATI, RAJASTHAN

001679

ICICI BANK LTD., 28, PANCHWATI, NEAR R.K. MALL, UDAIPUR 313001, RAJASTHAN

4. ICICI BANK AT & POST BEDLA - 313016.GIRWA TEHSIL BHINDAR 313603

5.ICICI Bank BHINDER

006904

6. ICICI Bank SARADA TEHSIL 7.CHHANI 313804

CHAWAND 006905

CHAWAND BRANCH - 313904

006906

AT & POST - CHHANI, KHERWARA TEH.PIN -

8.ICICI Bank FATEH NAGAR

006911

ZOHRA

SADAN,

NEAR

SARDAR PATEL STADIUM, WARD NO. 12, FATEHNAGAR FATEHNAGAR 313205

9.ICICI Bank JHADOL

006914

JHADOL - 313905, TEHSIL SARADA

10.ICICI Bank

KHERODA 006916

BRANCH KHERODA - 313602,

VALLABHNAGAR TEHSIL 11. ICICI Bank TEH.SARADA PALODARA 006922 PALODARA 313001,

22

12.ICICI Bank

RIHKABDEO

006923

TEMPLE

RD,

RIKHABDEO - 313802, TEH.KHERWARA

13.ICICI Bank

UDAIPUR, ASHWANI MARG

006931

ASHWINI

MARG, UDAIPUR, TEH.GIRWA, 313001

14. ICICI Bank

UDAIPUR B.N.COLLEGE 006932

COLLEGE

BLDG, COLLEGE ROAD, SUBHASHNAGAR, UDAIPUR, 313001

15.ICICI Bank UDAIPUR - 313001

UDAIPUR, BAPU BAZAR 006933

BAPU

BAZAR,

INTRODUCTION TO WORK LIFE BALANCE

History has myriad examples of kings and monarchs who aspired and set out to conquer the world. But had to drop their ambitious endeavors midway as their troops lost morale due to years of isolation from their homes, making them vulnerable to fatigue and disease. Julius Caesar, Alexander the Great, etc., are few examples to quote. Historians substantiate this by citing the limitations with respect to communication, mode of travel and drawbacks in logistics of the times.

23

Ironically, modern day corporate also faces the same barriers in their way towards development, improvement and overall growth. The executives of today face the problem of lost morale and burn out. But the question that lingers in everyones mind is why do these problems still persist in the age, when mankind has achieved landmark improvements in communication, traveling and areas of science?

The issue of work-life balance has developed out of demographic and social changes that have resulted in a more diverse and declining workforce and different family and work models. Supporting work-life balance is seen as a way of attracting and retaining the labour force needed to support economic wellbeing.

This review of research and literature in the areas or work-life balance, workplace culture, employee engagement, discretionary effort and productivity aims to demonstrate the links between these factors. Employers and employees are simultaneously putting efforts to be flexible and are also trying hard to equip themselves to face the forthcoming operational challenges.

Employees today want to have freedom and live lives their way. Employers too, have started appreciating the changes and the imperative that the employees of today, value balance between work and life more than ever before. The major patterns of change that have triggered the emphasis of work life balance are mainly socio-economical. The reasons are manifold and some of them are:-

a) Changing social philosophy:Employees in the 21st century place personal life on a higher pedestal than work life. The cause of this can be linked to rising divorce rates, other family and relationship problems. Employees today expect more life outside work. They also expect their family to be a part of their work.

24

Smart companies have identified this and in regard are designing innovative ideas to lure their employees. In the companies like Hewlett Associates, employees spouses are invited to attend orientation programmes, or fruit baskets are sent home on completion of project as a goodwill gesture towards thanking the employees family for their support and co-operation during the times when the employee had to work late.

b) Changing Work Culture:-

Corporate bodies today function on the principle of empowering employees. The bottom line of empowerment is based on flexibility and freedom of employees to take decisions without any hindrance from the policies and directives of the organization structure. Employees today seek for a range of choices from their employer and also want to have their say in availing them. Apart from initiatives like flexi timings, focus on results and overall avoidance of long work hours culture, employers have started giving positive reinforcements to employees by recognizing and distinguishing the ones who are prompt in adapting challenges posed by the never ending increasing workplace standards. These positive reinforcements are usually in the form of increased health focus, well-being and bringing in changes in organization legislations.

c) Raise in the 365/24/7 global operations:-

Global organizations and increasing call center operations across the globe have to work day and night coping with the time zones. With more and more businesses emphasizing on round-the-clock customer service, the concern for work/life balance for employees has become more essential. Ironically, technology has added to the speed of operation rather than easing the work practices. To maintain competitiveness and fight the burgeoning competition, companies are forced to deliver more with fewer inputs; employees are expected

25

to work longer and cope with tougher deadlines. Todays world literally doesnt go to sleep.

d) Rise in dual earning families:-

Demographic and cultural changes have also added to the problem of work/life imbalance. Working mothers are the major chunk of population who adversely get affected in balancing their job performance and the family life. The problem aggravates, as employees who try to cope with the situation by putting additional onus in their work, face unfriendly and ruthless glare from their peer groups. Colleagues treat them as pariahs as they are perceived to be doing unnecessarily extra work for the company, trying to impress the management or set examples for others. Women with dependent children or elderly relatives have to hear the music, as usually they get less support from their spouses or other family members. On the positive note, the changing times and rise in dual earning families have given fillip to changing social ideologies.

Today working women get more support from their families compared to that of their predecessors. Unlike in the earlier times, today husband and other family members share the mundane household responsibilities of working women, providing them some breathing space and helping them to excel in their job terrains.

Definitions and evidence of relationships

Work-life balance1
Work-life balance is about effectively managing the juggling act between paid work and the other activities that are important to people. It's not about saying

26

that work is wrong or bad, but that work shouldn't completely crowd out the other things that matter to people like time with family, participation in community activities, voluntary work, personal development, leisure and recreation. The 'right' balance is a very personal thing and will change for each person at different times of their lives. For some people the issue is being able to get into work or find more work rather than having too much work. There is no 'one size fits all' solution. A balanced life is one where we spread our energy and effort - emotional, intellectual, imaginative, spiritual and physical between key areas of importance. The neglect of one or more areas, or anchor points, may threaten the vitality of the whole. The concept of work-life balance also includes the priority that work takes over family, working long hours, and work intensification. Work intensification, defined by Burchell as the increasing effort that employees put into the time that they are working or the amount of work done in a day, the pace of work and its depletion of energy for activities outside of work, is also an issue affecting work-life balance. Work-life balance is an issue not just for individuals, but for employers, the market, the state and society as a whole. The future workforce and consumer market is dependent on women bearing, and parents raising, children. The move from a single male breadwinner family model to one where both parents participate in paid employment has made it increasingly difficult to raise children while the workplace continues to be modelled on male breadwinner workers. Work-family balance evolved into work-life balance partly in response to workers without family responsibilities who felt that employees with children were getting benefits that they were not. The term life applies to any non-paid activities or commitments. While the term does not generally include unpaid work when referring to work, it could be extended to cover that.

27

Work-life balance issues appear to affect some groups of people more than others those working long hours, those whose work spills over into the home as a result of modern technology, those in non-standard employment such as shift work, those on low incomes, those trying to juggle parenting and paid work, and those with cultural obligations beyond the family and paid work. Balancing the demands of being successful in work, raising children, looking after sick relatives and having some space for friends, family and out of work interests is a very real and increasing challenge. The business impact of not achieving a good work-life balance is very real - people who are under an immense burden simply dont perform to their best.

Work Life Balance include:-

1) Flexi-time 2) Staggered hours 3) Time off in lieu 4) Compressed working hours 5) Shift swapping 6) Self-roistering 7) Job sharing

28

8) Term-time working 9) Working from home 10) Tele-working 11) Breaks from home

29

WORK LIFE BALANCE

30

Productivity
Labour productivity is defined as total output divided by labour inputs and is considered as a necessary, though not sufficient in itself, condition for long-term profitability and success. People tend to be more motivated in the workplace if they feel appreciated and respected. Creating a positive work environment not only boosts morale but also productivity levels. High performing workplaces are founded on a strong workplace culture in which motivated and engaged employees are willing to go the extra mile.

The WPWG report notes that barriers to introducing practices to improve productivity include the short-term costs of new practices and strategies in relation to short-term benefits, a lack of buy-in and a belief that such practices will lead to competitive disadvantage rather than competitive advantage.

Relationship between work-life balance and productivity

A body of research supports a positive relationship between work-life balance and productivity. This includes individual case studies, research across a range of organisations and reviews of a number of studies.

Some studies do not support a positive relationship between work-life balance and productivity, for example Bloom et als (2003) study of 732 manufacturing organisations in the US, France , the UK and Germany found no direct relationship between work-life balance policies/initiatives and increased

productivity. However, these studies can usually be analysed to find the confounding factor is workplace culture or management, or lack of

31

implementation of work-life policies.

For example, Bloom et al found

management to be an intermediary factor, and they only measured having a work-life policy, not implementation or actual provisions. In New Zealand, a Department of Labour (2006) survey of employees found a strong relationship between employees ratings of productivity practices in the workplace and their own work-life balance.

Similarly, a UK survey of 597 working parents (Working Families, 2005) found a correlation between self-rated productivity, flexibility and satisfaction with worklife balance, and between satisfaction with work-life balance and enjoyment of ones job (Figs 1&2 ). The authors conclude with a model that relates productivity to good management, flexible working, satisfaction with work-life balance and enjoyment of ones job. While productivity comprises a combination of complex factors, flexible working options are perceived by working parents to be a factor n their productivity.

Productivity and work-life balance - self perceptions

very satisfied

42

39

11

work-life balance

satisfied

20

51

25

5 very productive productive

neutral fairly/very dissatisfied 0%

16

44

33

neutral not productive

15 20%

41 40% 60%

32 80%

11 100%

perceived productivity

32

Work-life balance and enjoyment of job

enjoy a lot

29

55

10

enjoy

15

55

15

15 very satisfied satisifed

neutral don't enjoy 1 much at all 0%

40

27

27

neutral fairly/very dissatisifed

24

26

47

20%

40%

60%

80%

100%

satisfaction with work-life balance

A US survey of 151 managers and 1353 mainly professional employees in six major corporations found that 70% of managers believed that allowing staff to work flexibly resulted in increased productivity, 76% reported higher staff retention and 65% reported increased quality of work. The remainder mostly reported no change on these outcomes, with approximately 5% reporting negative effects on productivity (Boston College Center for Work and Family, 2000).

These studies have all relied on self-report by either employees or managers of perceived impacts on productivity. The following studies have used actual financial or statistical data.

33

Other studies have focused on factors or processes influencing productivity. A review of international literature on business benefits of work-life balance concluded that work-life balance can enhance productivity in various ways. One argument is that productivity gains occur as a result of a reduction in home to work spill over (but other evidence eg. ODriscoll, shows that most spill over goes in the direction of work to home). Another argument is that productivity is improved through reducing long hours at work and fatigue. The third argument is that in exchange for the gift of work-life provisions, employees offer the gift of discretionary effort, thereby increasing productivity. This relationship is discussed below.

Long hours, work-life balance and productivity:

Long working hours is a factor in lack of work-life balance.. Research at case study/organisation level shows an inverse relationship between long working hours and productivity. A study of 12 leading British employers found a positive relationship between long hours and absenteeism and staff turnover, and an inverse relationship between long hours and staff morale and productivity . While long hours may improve productivity in the short-term, this is not sustainable, and quality and productivity decrease in the longer term.

Workplace culture was a factor in long work hours in these case studies, and examples of successful interventions to reverse the negative consequences of long work hours involved changing company culture. This includes visibly changed top management behaviour and commitment and the introduction of flexible work patterns, job redesign and training in time management.

34

Workplace/work-life culture
Organisational culture is defined as the set of shared values and norms that characterise what is held to be important in the organisation (Working Families, 2006:13). It is more informally described as the way we do things around here. Lewis (2001) cites a definition from Pemberton (1995) as a deep level of shared beliefs and assumptions, which often operate unconsciously, are developed over time embedded in an organisations historical experiences. Cultures that were initially functional may become dysfunctional as social circumstances change over time. The ideal worker workplace culture that developed around male breadwinner female caregiver models of families is now in conflict with gender equality, female labour force participation and dual income families. A supportive work-life culture is defined by Thompson et al (1999) as the shared assumptions, beliefs and values regarding the extent to which organisations value and support the integration of work and family lives, for women and men.

One example of how current workplace cultural assumptions are in conflict with new models of gender roles and family life is concepts of full-time and part-time work. Full-time work fits the ideal worker/male breadwinner culture of the past while part-time work is better suited to the new social reality of dual income families and a move towards greater gender equity in child-raising.

Another type of workplace culture that is in conflict with family life is the long hours culture discussed earlier.. A long hours culture was defined by the employees as one in which long hours were valued, employees were praised for working long hours and working long hours was viewed as a sign of commitment. In one organisation in this study a long hours culture was described as an expectation of employees to get the job done irrespective of the contracted 35

working hours. Long hours were perceived as part of the job and not doing this was seen as a sign the employee was not committed .

A long hours culture is set by senior managers working long hours and generating high workloads for those around them, according to Kodz et al (1998). Peer pressure also creates a culture of long hours, either through comments or competition. The third key driver of a long hours culture is that career progress is dependent on long hours and presenteeism. Other drivers of long hours cultures are customer expectations and service provision, staff shortages, new technology which enables 24/7 availability of employees, and the need to travel for work.

Only a minority of employees in this study, which included employees from a range of sectors, were driven to work long hours to improve pay as most are not paid overtime.

Relationship between work-life balance and workplace culture

Many studies have found a relationship between work-life balance and workplace culture.

In New Zealand, the Department of Labour 2006 survey of employees found that an unsupportive workplace culture was associated with poor work-life balance. Almost 60% of employees said aspects of their workplace culture made work-life balance harder to achieve, particularly as expressed in the expectations and attitudes of managers, supervisors, colleagues and workmates.

36

An Australian study (de Cieri et al 2002) which involved surveys of 1500 employees at three periods (1997, 1998 and 2000) found that uptake of work-life balance initiatives varied from 20% to 80% of employees in an organisation. There was also a time-lag from introduction of initiatives to uptake. Key barriers to the implementation and on-going effectiveness of work-life balance strategies identified in the literature and borne out in the Australian study were:

An organisational culture which emphasises and rewards long hours and high organisational commitment (to the neglect of other life commitments). An isolated, hostile and unsupportive working environment for employees with life commitments outside the organisation. Attitudes and resistance of supervisors and middle management. Preference of senior management involved in recruitment to dealing with people perceived as similar to themselves. Lack of communication and education about work-life balance strategies.

The Australian research identified two key factors as barriers to work-life implementation and success: organisational inaction and organisational values. The most influential aspects of organisational inaction were lack of

communication to staff, ineffective implementation, failure to evaluate/measure the impact of programmes, lack of middle management education and not getting line managers involved. These factors have all been identified in many studies on implementing diversity and work-life policies.

The most influential aspects of organisational values as barriers to positive worklife outcomes in the Australian study were focusing on the programmes rather than culture change and the way work is done, and increased work demands over-shadowing personal needs. The authors state that what is needed to improve utilisation of work-life balance programmes is improved implementation and communication to managers and employees, culture change and the

37

development of a track record of achievements to encourage future management commitment to this area .

Thompson et al (1999) developed a measure of work-life culture based on their definition of work-life culture as the shared assumptions, beliefs and values regarding the extent to which an organisation supports and values the integration of employees work and family lives. They examined the relationship between work-life culture and use of work-family initiatives, organisational attachment and work-family conflict amongst 276 managers and professionals. Perceptions of a supportive work-family culture were statistically related to the use of work-family initiatives, reduced work-family conflict and positive organisational commitment. They identified three aspects of workplace culture that affected the use of workfamily initiatives: managerial support, career consequences and organisational time expectations. . Kirby and Krone (2002) examined the effect of workplace conversations on the use of work-family initiatives. Kirby and Krone found that workplace discussions around work-family policies revolved around perceived equity and preferential treatment. These findings have implications on how to best alter workplace culture dynamics; just adding work-family policies to an existing workplace culture may result in under-utilisation. Recommendations follow those found

elsewhere: integrate policies into the whole organisation, generate senior management support, and provide training for managers on the benefits of policies and how to implement them, communicate success stories of using the policies, and communicate the wider benefits beyond women or employees with children.

In New Zealand the EEO Trust 2006 Work-Life Survey found that the uptake of work-life initiatives related to actually putting work-life policies into practice rather than to the mere existence of a policy and a range of initiatives.

38

The use of family-friendly initiatives was found to be significantly related to employees perceptions of family-oriented workplace support and men reported higher work-family conflict than women, it appears that men experience less workplace support to use family-friendly initiatives than women as explained in more detail on the following page. McDonald, Brown and Bradley (2005) found that the gap between work-life policies and initiatives and their use, particularly by men and career-oriented employees, was due to five factors:

Lack of managerial support for work-life balance Perceptions of negative career consequences Organisational time expectations Gendered nature of policy utilisation Perceptions of unfairness by other employees (ie. those without family responsibilities)

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Relationship between work-life balance, workplace culture discretionary effort and productivity

Increased Productivity

Positive work-life culture People-centric culture and other factors Trust Reciprocation Manager characteristics and flexibility Communication Commitment to diversity Integrity Innovation Work linked to organisational strategy

Work-life balance initiatives

Positive work-life culture

Increased discretionary effort

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Understanding the drivers for work-life balance

In essence work-life balance can be defined as employers and employees embracing a work to live rather than live to work approach. A commonly applied definition is:Work-life balance is about people having a measure of control over when, where and how they work. It is achieved when an individual's right to a fulfilled life inside and outside paid work is accepted and respected as the norm, to the mutual benefit of the individual, business and society. 1 Work/life balance has evolved over time. Historically people worked close to or at their place of work, so work and life were inherently integrated. Life activities like community involvement, childcare, and elder care happened within and alongside the work environment. The separation between work and life became more clearly defined during the industrial revolution of the 18th century. In recent times, it is clear the workplace and, indeed, the worker have changed, as has the composition of households. Without someone attending to life issues full-time, workers now have to find time to take care of responsibilities like childcare, or caring for an elder parent in addition to their paid work. Hence, for many people, 21st century life involves less work-life balance and more of a balancing act as they juggle responsibilities which are often viewed as competing. The digital revolution has further merged work-life environments in many employment sectors. There are as many women as men in our workforce and we have an ageing population. These demographics suggest that work-life balance is going to become an increasingly important issue as people continue to demand that their employers enable them to achieve a better work-life balance. What types of work/life programs are there?

When people think of company work/life benefits, they often think of childcare.

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However, most work/life programs entail much more. Work-life balance is not just for people who want to reduce their working hours, it is about responding to individual circumstances to help individuals fulfill their responsibilities and aspirations. Some organizations around the world are gaining competitive advantage in the recruitment market by offering work-life balance and career progression to talented individuals. A survey by global human resources consultancy Towers Perrin in the US identified more than 100 varieties of work/life programs that fall into the following six categories:

1. Time Include flexible work arrangements such as flexi time, telecommuting, job sharing and part time work, term time working 2. Leave Paid and unpaid leaves for childbirth, the care of young or sick children, sporting, or other personal or family matters. 3. Dependent Resource and referral services to help employees find childcare or care elder care, childcare programs that are on-site or nearby, and employee discounts or vouchers to help pay for the cost of care. 4. Counseling Employee seminars about balancing work and family life, peer and wellness support groups, and training for supervisors to be more attuned to employee family problems caused by overwork. 5. Benefits Cafeteria-style plans, non-taxed flexible spending accounts, sponsored health insurance schemes or insurance to pay for the long-term care of oneself, elderly parents, or a spouse 6. Personal Concierge services, lactation rooms, nap rooms, and food convenience shopping and dinner preparation services.

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Those employers who have introduced these types of employee benefits report correlated business benefits including: Increased productivity Improved recruitment and retention: Employee costs can be 50 percent of a companys expenditure, with replacement costing considerably more than the advertising and direct recruitment fee so it pays to retain experienced employee. Lower rates of absenteeism Reduced overheads A more motivated, satisfied and equitable workforce

Work Life Balance: Ways to restore harmony and reduce stress

Finding work-life balance in today's frenetically paced world is no simple task. Spend more time at work than at home, and you miss out on a rewarding personal life. Then again, when you face challenges in your personal life, such as caring for an aging parent or coping with marital problems, concentrating on your job can be difficult. Whether the problem is too much focus on work or too little, when your work life and your personal life feel out of balance, stress along with its harmful effects is the result. The good news is that you can take control of your work-life balance and give yourself the time to do the things that are most important to you. The first step is to recognize how the world of work has changed. Then you can evaluate your relationship to work and apply some specific strategies for striking a healthier balance.

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How work invades personal life

There was a time when employees showed up for work Monday through Friday and worked eight- to nine-hour days. The boundaries between work and home were fairly clear then. But the world has changed and, unfortunately, the boundaries have blurred for many workers. Here's why:
Global

economy. As more skilled workers enter the global labor market

and companies outsource or move more jobs to reduce labor costs, people feel pressured to work longer and produce more just to protect their jobs.
International

business. Work continues around the world 24 hours a day

for some people. If you work in an international organization, you might be on call around the clock for troubleshooting or consulting.
Advanced

communication technology. Many people now have the

ability to work anywhere from their home, from their car and even on vacation. And some managers expect this.
Longer

hours. Employers commonly ask employees to work longer hours

than they're scheduled. Often, overtime is mandatory. If you hope to move up the career ladder, you may find yourself regularly working more than 40 hours a week to achieve and exceed expectations.
Changes

in family roles. Today's married worker is typically part of a

dual-career couple, which makes it difficult to find time to meet commitments to family, friends and community.

Married to your work

It can be tempting to rack up the hours at work especially if you're trying to earn a promotion or some extra money for a child's education or a dream vacation. For others, working more hours feels necessary in order to manage the workload.

44

But if you're spending most of your time at work, your home life will likely pay the price. Consider the pros and cons of working extra hours on your work-life balance:
Fatigue.

Your ability to think and your eye-hand coordination decrease

when you're tired. This means you're less productive and may make more mistakes. These mistakes can lead to injury or rework and negatively impact your professional reputation.
Family.

You may miss out on important events, such as your child's first

bike ride, your father's 60th birthday or your high-school reunion. Missing out on important milestones may harm relationships with your loved ones.
Friends.

Trusted friends are a key part of your support system. But if

you're spending time at the office instead of with them, you'll find it difficult to nurture those friendships.
Expectations.

If you regularly work extra hours, you may be given more

responsibility. This could create a never-ending and increasing cycle, causing more concerns and challenges. Sometimes working overtime is important. If you work for a company that requires mandatory overtime, you won't be able to avoid it, but you can learn to manage it. Most importantly, say no when you're too tired, when it's affecting your health or when you have crucial family obligations.

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Research Methodology
Research methodology is the backbone of any research work undertaken. The whole study was basically based on collection of data from primary source but secondary source were also used. Research methodology deals with the efficient plan and decisions on sources of gathering the needed on data. Research instrument to be used Research design. Contact method analysis and interpretation.

Methodology has been extensively discoursed under the heading given below on the following: Research Design Collection of Data Research instrument and contact method sampling plan Field work

RESEARCH DESIGN:

Research design is the overall description of all the steps thought which the project has preceded from the setting of objectives to the writing of the project report. A Research Design specifies the methods and procedures for conducting a particular study .The researcher should specify the approach he intends to use with respect to the proposed study. Broadly speaking Research Designs can be grouped into 3 categories: 46

1. Exploratory Research 2. Descriptive Research 3. Casual Research

For achieving the research objectives which are already stated clearly,the Exploratory Research method was adopted.

Exploratory Research:

The major emphasis in this type of research is on the discovery of ideas at hand and insights. It is a preliminary investigation which does not have a rigid design. This is because a researcher engaged in an exploratory study may have to change his focus as a result of new ideas and relationship among the variables.

The Exploratory study is generally helpful in breaking broad and vague problem into smaller. In the nutshell, we can say that exploratory research helps in formulating Hypothesis for the further research. Major part of the exploratory research is done through survey.

Below is given the various steps in brief of the research design for the project:

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Title of the study: Analysis of Work Life Balance in Banking sector

Research Objectives:
The main objectives of this study were to: To study the work life balance in banking sector To know how the work pressure can effect family life To know the results of work life imbalance on efficiency, health and personal as well as professional life of employees of banks. To know the marital status of the individuals affect their lives

Data collection:
Data Sources: Data was gathered through primary and secondary data.

Primary data: - It consists of original information gathered for the specific purpose the data is generally collected by survey. Primary sources were preferred because of its relevance to the issue to have a focused approach due emphasis was given to obtain accurate information from the respondent.

Secondary data: - It consists of information that already exists having been collected for another purpose. secondary data is collected from various

magazines newspapers and trade journals market patterns websites of co. & through net surfing

For conducting the study various tools are used to collect data. The major emphasis was given to the questionnaire method. Questionnaire is the Source of gathering the information required for reaching the objectives of this project. The 48

respondents

were

all

the

employees

working

in

Rajasthan

bank.

The questionnaire deals with all types of questions necessary together information required for the project information gathered from the employees was the entirely primary data. For collection of secondary data various journals, internet & articles were used. Both primary and secondary data were used for tabulation and analysis of the information to obtain results. The collected primary data was completely tabulated with the help of tables and percentages were calculated. From the table information was analyzed and relevant inferences were drawn and wherever necessary graphs were made for the presentation of data.

TOOLS OF DATA COLLECTION:

The following tools were used for the data collection:

1. Structured questionnaire: By asking the structured questions to the employees and by interviewing the executives formally. 2. On-site observation: By viewing the various systems & subsystems and procedures followed by the bank. 3. Review of written document: some part of this study was collected from the journals and books.

Sampling plan: This calls for 2 decisions: Sampling unit: - It covers the employees of ICICI Bank, Udaipur City. Sampling size: - 50 Employees

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Scope of the study

The scope of the project is of great importance as a perfectly balanced life for an employee need a careful synchronization of family , health, wealth, career, social obligations intelligence, spirituality etc. So the study covers the important factors of managing family, work life & stress. This study found important because it tries to know how the work life and family life interface results into stress. This study also throws light on the suggestions to overcome imbalance in work and family life in order to keep profile of the executives high and also keep their family life happy which in the long run benefits the organization in achieving its long term goals.

This study has a very wide aspects because of its multi, complex and unique variables for future researchers.

50

Data Analysis & Interpretation

Interpretation
1. Family Structure:

42% 58%

Nuclear Joint

Interpretation: Majority of the respondents belong to nuclear family and therefore they are unable to devote required attention towards their family members and this results into more stress as compared to those employees who belong to joint family.

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2. Marital Status of the Respondents:

30% 70%

Single

Married

Most of the respondents are married and therefore those employees who are married are unable to enjoy their life because of long working hour culture in banks. Those employees who are single remain less affected as far as their life is concerned.

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3. Working hours per day:

4% 14% 46% 36%

Less than 8 hrs 8 - 10 hrs 10 - 12 hrs More than 12 hrs

46% employees are working 10-12 hours daily and 4% employees are working for more than 12 hours every day .It clearly indicates that working hours have increased because of privatization, and employees are bound to spend more time in banks

53

4. Overstaying in the office for finish work :

8% 6%

10% 50% 26%

Most of the times Some times seldom Always Never

50% of the respondents most of the times overstay in the office to finish their work. 8% of the respondents always overstay in the office to finish their work. 26% of the respondents sometimes overstay in the office to finish their work. 6% of the respondents seldom overstay in the office to finish their work. And only 10 % of the respondents never overstay in the office to finish their work

54

5. Response of the family on overstaying :

6%

6%

30%

42%

16%

Resentment Irritation Co-Operative Ignorant Feel Neglected

30% employees have to face resentment of the family members. Family members of 16% employees get irritated on overstaying of employees in the bank. Family members of 6% employees feel neglected on overstaying of employees in the bank. Family members of 6% employees simply do not bother, even if employees have to overstay in the bank. 42% employees are lucky enough to have cooperative family members

55

6. Long working hours undermine your family life:

4%

6%

10% 52%

Most of the times times Some times seldom Always Never

28%

52% employees said that long working hours have effect on their personal life most of the times. 6% employees were of the opinion that long working hours always undermine their family life. According to 28% employees long working hours sometimes undermine their family life. 4% employees were of the view that long working hours seldom affect their family life. Only 10% of the respondents were not in favor of this.

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1. Are you able to attend social gatherings :

Most of the times

10% 12%

8%

Some times

20%
seldom

50%

Always Never

50% of the respondents sometimes manage to attend social gatherings. 10% employees are always able to attend social gatherings. 8% employees have such a hectic schedule that they can never attend any social function 20% employees are able to attend social gatherings most of the times 12% employees seldom attend social gathering.

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2. You spare time for your hobbies:

40% 60%

Yes No

Majority of the employees of banking sector i.e., 60% are so much preoccupied with their work that they never get time for their hobbies and personal interests.

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3. Do you take your children to school :

0% 30% 14% 50% 6% 0%

Most of the times Some times seldom Always Never Not applicable

50% employees never take their children to their schools. 14% employees sometimes take their children to their schools. 6% employees seldom accompany their children to their schools.

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4. Priorities :

6% 26%

0% 56%

Career Health Family Wealth Hobbies

12%

By concluding the survey we know that 56% employees give first priority to their career, 26% give to their Family, 12% give to their Health & 6% to their Wealth. Not a single respondent give priority to their Hobbies.

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11. Do you carry your office work at home?

2%

Most of the times

24% 12% 2%

Some times
seldom Always Never

60%

Majority of the employees i.e. 60% never take their office work at home while 24% of the employees sometimes carry their office work at home. Only 2% employees always carry their office work at home. 12% employees seldom carry their office work at home.

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12. How frequently you carry your family out on vacation:

Twice in a year

14%

10%

8%

Once in a year Once in three years

18%

50%

Once in five years Never

50% employees of banking sector take their family out on vacation once in a year. 10% employees never spent vacations with family. Only 8% employees take their family out on vacation twice in a year. 18% employees spent vacations once in three years with family. 14% employees are taking their family out on vacation once in 5 years because of their hectic schedule.

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13. Does long working hours affect your efficiency :

8% 28% 8% 12% 44%

Most of the times Some times seldom Always Never

According to 44% employees, long working hours affect their efficiency most of the times. 28% employees said that long working hours always affect their efficiency 12% employees were of the opinion that long working hours sometimes affect their efficiency 8% employees said that long working hours seldom affect their efficiency Only 8% employees said that long working hours never affect their efficiency

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14. Does peer pressure compels you to stay late in the office:

16% 12% 8% 24% 40%

Most of the times

Some times
seldom Always Never

12% executives said that peer pressure always compels them to stay late in the office 40% executives said that most of the times peer pressure compels them to stay late in the office 8% executives said that peer pressure seldom compels them to stay late in the office 24% executives said that peer pressure sometimes compels them to stay late in the office Only 16% executives said that peer pressure never compels them to stay late in the office

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15. Does long working hours cause stress at work:

Most of the times

10%
24% 6% 40%

Some times seldom Always Never

20%

By concluding survey we know that long working hours cause stress at work Most of the times for 40% of the respondents, 10% respondents are Never get stress due to long working hours, 20% are in stress some times, 24% respondents get Always stress at work & 6% get stress seldom at work due to long working hours.

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16. Do you agree YOUR HEALTH IS SUFFERING BECAUSE OF YOUR WORK:

Strongly agree Agree Partially agree

16%

4%

24%

20%

36%

Disagree Strongly disagree

By concluding the survey we know that 24% respondents are strongly agree with the statement, 36% are agree, 20% are partially agree,16% are disagree & 4% respondents are strongly disagree with the particular statement.

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17. Do you suffer from Hypertension?

30%
Yes

70%

No

70% of the employees of the banking sectors are suffering from hypertension because of increased competition in market as well as at workplace.

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18. Do you suffer from Insomnia?

20%
Yes

80%

No

20% employees in banks are insomniac which shows that because of increased work pressure and tensions, few employees are not able to sleep.

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Facts & findings

1. Majority of the executives belong to nuclear family and thereby the level of stress is more as compared to those employees who belong to joint family. 2. For married employees it is more difficult to concentrate on their personal life because of their work pressure and therefore more work load in banks resulted in poor family relation. 3. Long working hour culture directly affects the level of efficiency of employees thereby causing stress at work resulting into hypertension and other diseases. 4. One positive finding is here that family members response are co-operative towards most of the employees on overstaying in the office resulting less stress. 5. Most of the executives are to have a family that understands their positions in the banks and this has helped in avoiding stress in their life. 6. Most of the executives sometimes attend functions in the family circle; some of them cannot attend due to their office work. 7. Majority of the executives agreed that long working hours affect their efficiency sometimes. 8. Most of the executives miss out there hobbies and interests because of there preoccupations with there work. 9. The family members feel the absence of the executives in the house when the executives are required to stay in the banks beyond working hours. 10. Most of the respondents were of the opinion that long working hours cause stress at work. 11. Some of the executives need not stay back in the banks after office hours yet senior or middle level executives have to stay back to finish their work.

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12. 40% of the respondents commented that peer pressure coax them to stay late in the office. 13. 26% managers are insomniac. 14. Most of the managers are suffering from hypertension and other psychosomatic diseases.

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Conclusions
A strategy to encourage work-life balance or a series of work-life initiatives is not sufficient to increase discretionary effort and employee engagement. Work-life balance must be supported and encouraged at all levels of the organisation, including senior management, line managers and all staff.

Building an organisational culture which supports work-life balance is a long-term process for large organisations. It involves changing the way people think and talk about their work and about work-life balance so that using flexible working options and other work-life initiatives becomes accepted and normal for everyone regardless of their gender, seniority within the organisation or personal commitments.

This is a perfect study of human resource management to understand the family life and work life and counsel the executives in case of needs. The study reveals that officers have to mange and identify the importance of family requirements and decide priorities of their personal involvement so that stress and strain can be avoided.

The study concludes that as part of human resource management, frequent studies have to be conducted to understand the executives and their family, so that stress and strain among the executives arising out of family and work interface is removed.

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1. The family and work life are both important to employees in any service sector & if these two are not maintained properly it creates stress and strain and results into various diseases. 2. The organizations which encourage work life balance in principle and in practice will reap the benefits of increased employee engagement, discretionary effort and therefore productivity. 3. Building an organisational culture which supports work-life balance is a long-term process for large organisations. 4. Work-life balance must be supported and encouraged at all levels of the organisation, including senior management, line managers and all staff.

With this the objective of this study gets fulfilled and it has been proved that work life and family life imbalance do pose the problems of stress and strains to the executives but it can be managed by the proper planning of work life and family life.

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Recommendation & Suggestions:

For Bank:
1. Banks are suggested to conduct picnic programmes for the executives and their families. 2. Banks should accept the facts that employees work best when they can balance their work and other aspects of their lives. 3. Banks should also try to implement certain Time away from work policies such as holiday banking, buying & selling of holidays, special leaves, compassionate leave, maternity, paternity and adoption leave, study leave, short term & long term career breaks etc. 4. Raise awareness and promote discussion of work life balance issues. 5. Promote and disseminate best practice in achieving work life balance. 6. Produce practical interventions to encourage better work life balance. 7. Recognize the needs of its employees to balance work and family and other personal life commitments that may vary at different stages of an individuals life cycle. 8. Communicate the importance of investing in work/life, diversity and workforce effectiveness initiatives. 9. Learn how changes in work processes and work structures in organizations supported by work/life initiatives can leverage improvements in productivity, quality, and customer and employee satisfaction. 10. A written check-list of legal entitlements should be provided to workers when they receive their formal contract of employment.

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For Employees:

We all have so many commitments these days that we can feel at times we're getting ripped in a million different directions. Take control now by achieving balance between your work and personal lives. Here are some tips :

1. Identify Priorities

Consider what you want to get out of your work and your personal life, and eliminate the things that don't help you achieve those goals. Make those things your top priorities, and do what it takes to make them happen.

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2. Be Sure to Ask

Sometimes all you have to do is ask for flexible hours or the option to telecommute-- at least for a period of time. You never know what you can get unless you ask.

3. Set a Time Frame

Don't expect to achieve this balance overnight. Lay out your responsibilities and set small goals for when you will likely incorporate different elements of balance into your life.

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4. Find a Balance Mentor

Identify someone who is really good at achieving work-life balance, and ask for any tip.

5. Telecommute

Work from home when it's realistic and possible. Not commuting or getting dressed and ready for the office saves chunks of time. You may find you get more done on days you work from home, since there won't be all that office chit-chat and those time-wasting meetings. You'll be able to focus on work for long stretches and to use the extra hours in the day to meet personal responsibilities.

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6. Use Technology to Your Advantage

Technology should help you achieve work-life balance, not rule your life. Make certain times, like dinner, are technology-free for you and your family. Set an example by adhering to the rules you lay down.

7. Communicate

Establish clear communication with your colleagues and your boss. If you won't be available for certain hours during the day or weekend because you're dealing with family problems, make sure your manager is aware and agrees.

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8. Have a Support System

Things will come up, and you'll need help. Identify people who can pitch in at times, such as family members, neighbors, friends and colleagues.

9. Learn Your Employer's Policies

Your company may have set policies on flexibility. People often don't know there are options about commuting and the work day that can make their lives easier.

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10. Edit Yourself Personally and Professionally

Let go of the things that are not mission-critical. Take yourself off committees and out of obligations that you can't give your all to, leaving yourself free for the most important ones.

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LIMITATIONS: The research conducted was limited to The Bank of Rajasthan Ltd. Udaipur city only. Findings of the study are based on the assumption that respondents have divulged the correct information. The study is limited due to time, costs and physical reasons Few respondents were so much occupied with their work that they could not spare time to fill the questionnaire The biasness of employees affect the analysis of the study in a significant manner Due to unwillingness of providing any information, the respondents filled the questionnaire casually which might have affected the conclusions.

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Appendix
Questionnaire
WORK LIFE BALANCE SURVEY
Name : . .. Age : ...............

Designation :

Gender : Male / Female Family structure : Nuclear / Joint

Marital status : Single / married Educational Qualification : ..

Occupation of your spouse : Monthly Income ( in Rs.) : a) 5000-10,000 c)15,000-20,000 Q.1) Normal working hours per day : a) Less than 8 hrs. c) 10-12 hrs. b) 10,000-15,000 d) above 20,000

b) 8-10 hrs. d) More than 12 hrs.

Q.2) How frequent you overstay in the office to finish your work : a) Most of the times b) Some times c) Seldom d) Always e) Never

Q.3)Response of the family members on overstaying in the office a) Resentment b) Irritation c) co-operative d) Ignorant

e) Feel Neglected

Q.4) Do you thinklong working hours undermine your family life : a) Most of the times b) Some times c) Seldom d) Always e) Never

Q.5) Are you able to attend social gatherings : a) Most of the times b) Some times c) Seldom d) Always

e) Never

Q.6) Do you spare time for your hobbies and personal interest : a) Yes b) No

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Q.7) Do you take your children to their schools : a) Most of the times b) Some time c) Seldom d) Always

e) Never

Q.8) Priorities the following ( 1-5) a) Career ( ) c) Family ( )

b) Health ( ) d) Wealth ( )

e) Hobbies ( )

Q.9) Do you carry your office work at home : a) Most of the times b) Some times c) Seldom d) Always

e) Never

Q.10) How frequently you take your family out on vacation: a) Twice in a year b) Once in a year c) Once in three years d) Once in five years

e) Never

Q.11) Does long working hours affect your efficiency: a) Most of the times b) Some times c) Seldom d) Always

e) Never

Q.12) Does peer pressure compels you to stay late in the office: a) Most of the times b) Some times c) Seldom d) Always

e) Never

Q.13) Does long working hours cause stress at work: a) Most of the times b) Some times c) Seldom d) Always

e) Never

Q.14) Do you agree YOUR HEALTH IS SUFFERING BECAUSE OF YOUR WORK a) strongly agree b) agree c) partially agree d) disagree e) Strongly disagree

Q.15) Do you suffer from Hypertension: a) Yes

b) No

Q.16) Do you suffer from Insomnia: a) Yes

b) No

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Bibliography
Research methodology C.R Kothari, published by: Wishwa Prakashan Human resource management Pattnayak, published by: Tata McGraw-Hill Publishing Company Limited The ICFAI Journal of 0rganizational Behavior HRM Review of ICFAI Journal Manuals of the Banks

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