Human resources play a very important role in the success of an organization and therefore, management of human resources assumes significance. Banks are no exception to this phenomenon. Varied factors affect the management of human resources. One such factor is quality of Work Life (QWL). The QWL factor in organisation gained significance since 1970s. It is not only monetary aspects that a modem employee is concerned with but also with conditions of challenging work. As the style of management has changed from paternalistic to democratic, the employees, with an impending need to achieve more and more productivity efficiently, look forward to conductive and congenial working conditions and favourable terms of employment. Employee productivity and efficiency largely depend upon the quality of work life provided by the organisation. QWL is a philosophy, a set of principles, which holds that people are the most important resource in the organization as they are trustworthy, responsible and, capable of making valuable contribution and they should be treated with dignity and respect. The elements that are relevant to an individual`s quality of work life include the task, the physical work environment, social environment within the organization, administrative system and relationship between living conditions on and off the job. In this context, the study of quality of work life in Indian banks assumes great significance.
Banking system occupies an important place in a nation`s economy and the banking institution is indispensable in a modern society. It plays a pivotal role in the economic development of a country arid forms that score of the money market in an advanced country. The banking sector has undergone a structural change over the past two decades, as a result of which a sea change could be observed in the role and responsibilities of bank employees. One important result of this change is the increasing stress and strain being felt by the bank staff. Bank employees have been facing the maximum work pressures in the process of delivering timely services so as to meet organizational goals and ensure customer satisfaction. Increased use of technologies and equipment, online bank transactions, increased banking habits of customers, socio-economic changes Government and RBIs guidelines and controls and so on compounded the problem of work stress of employees leading to poor quality of work life.
The public and private sector banks, which are part of the service sector, are the main drivers of economic growth in India and they together have a lion`s share in Indian banking operations. The banking sector heavily depends on human resources capable of handling the banking activities and operations and therefore, human resources form the basic asset of this sector. Quality of work life encompasses things that affect their well-being such as salary and benefits. It is increasingly a significant part of the total benefits package.
1. Quality of Work Life: An Overview
2. Research Design and Methodology
3. Select Banks: A Profile
4. Sample Respondents: Demographic and Work Life Characteristics
5. Demographic Characteristics and Quality of Work Life
6. Work Life Characteristics and Quality of Work Life
7. Sectoral Analysis of Quality of Work Life
8. Summary of Conclusions and Suggestions