Employees' Perception about Change in Jobs and Organisational Orientations.
In the context of dynamic business environment, Indian banking organisations are undergoing transformation. The changing phase of banking industry in India is implying major shifts in the philosophies and practices in the banking organisations. This change in the banking sector in India has also been acknowledged in various reputed newspaper articles and reports (Saha, 2018; Bakshi 2018) in India. This changing context has drawn the attention towards the importance of transformation in HR practices in the Indian banking organisations.
Changing employees' perception is a crucial aspect of the changing HR paradigm in organisations. Robbins (2001) defined perception as a process by which individuals organise and interpret their sensory impressions in order to give meaning to their environment. What employees perceive about the changing organisation practices has an impact on their performance and organisational effectiveness (George & Hegde, 2004). It significantly influences workplace behaviour (Langton &Robbins, 2006) and impacts effectiveness of the organisation's efforts (Rafferty &Griffin, 2006; Kotter, 1996; Griffin, 1983; Grunberg, et al., 2008). The literature on organisational change discussed a positive correlation between employees' perceptions towards change and its impact on outcome of change (Bolo & Ruguru, 2011). A positive perception of employees about change helps in supporting the change, whereas a negative perception leads to resistance and opposition to the change (Elias, 2009; Lines, 2005). Employees' positive perceptions towards human resource practices also contribute in the development of perceived organisational support (Schneider & Bowen, 1985; Allen et al., 2003). Also, there exists a strong link between employee perception about HR practices and individual productivity and performance effectiveness (Umashankar & Ashok, 2012; Bhatt, 2012). As employees and their perception towards change play an important and instrumental role in implementing change, it's impact on people's perception about their organisation and about their jobs, is a pertinent question. For long there is still a widespread need for research capturing the complexity and evolutionary nature of employee responses to organisational change (Pettigrew, 1990; Piderit, 2000). Thus, understanding employees' perception is a relevant research question having significant managerial implications in high-performing organisations. This paper is part of a larger project which explores the changing paradigm of Human Resource practices in Indian high-performing banking organisations. As the workplace practices that manage such dynamic workplaces are changing, the present research work aims to explore and understand employees' perception about change in organizations' orientation and perception about change in the jobs in high performing banks, both public and private sector banks.
Changing Perception towards Organisation's Orientation
Organisations that are well-positioned to change will prosper, but those that ignore change will flounder (Slocum & Hellrieger, 2007; Burnes, 2004). The Indian banking sector is changing and it is imperative that the banks adapt to their new environment (Tiwari, 2017; Master, 2012; Indian Banking 2020 report, 2010) leading to a significant shift in the Indian banks' orientation, i.e., underlying assumptions and philosophies. The Indian banking has undergone varied changes to improve efficiency and effectiveness since economic liberalisation. Indian banks have identified their banks' philosophies related to people, customers and profit (1). The transformations occurring in banks in India, public and private sector banks, are getting reflected on various communication mediums such as annual reports, website, news and reports about the Indian banking organisations, as mentioned above in the literature. With the expanding opportunities and challenges, it is visible in the vision and mission of banks in India that they are changing, adapting and experimenting with their practices and philosophies to build profitable businesses. Profit is one of the prime focuses for business organisations and profit maximisation is regarded as the prime interest of its business (Sufi & Lyons, 2003). Profitability in organisations, especially in the service industry, apart from the hard values, depends on linking profits with other important elements and overall service. According to Manikyam (2014), the emerging competition has led to change in the expectations of existing and the new customers in Indian banks. Apart from the focus on the bank's profitability, managing challenges in customer relationships is very crucial, thus cannot be ignored (Kumar & Rajesh, 2009). The banks are scaling-up to serve the unbanked areas in ways novel than before. They are using transformative tools and technologies, new business models, design products and services to increase business, profits and customer loyalty. While focusing on improving the profits and customer service, another key stakeholder, i.e., employees, cannot be ignored. According to Waterman (1994), customer satisfaction really begins with employee satisfaction. Hence, it is crucial to invest in both customers and people of organisations, especially in service organisations (Heskett et al., 2008). Both employee satisfaction and customer satisfaction are equally important for organisation's performance (Bulgarella, 2005). The Centre for Advanced Human Resource Studies (2011), reported that employees were more engaged in their jobs when they believed that HR practices in the service organisation were stimulated by concern for high-quality service and employee well-being. According to Barney & Wright (1997), value is created by focusing on people first. Hence, employee treatment practices are also changing to sustain the above mentioned changes prevalent in the banks. Hence, the above mentioned perspectives about customers and profit steer an organisation. Philosophies of an organisation and what it believes in answers the question about what an organisation is and where it is heading and its future course of action (Sufi & Lyons, 2003). Similarly, the top management's assumptions about workforce in the organisation, generally determine the managerial philosophy of a company (Singh, 2005). Thus, overall philosophies and the derived practices of the banks represent the direction and the approaches of the banks in India. Customer, profit, and people orientations of the banks help Indian banks to keep up with the challenges of change (Kamath Kohli, Shinoy, Kumar, Nayak, & Kuppuswamy, 2004). And equally relevant is how such orientations of organisations are perceived by the employees. Thus, the present study explores the perception of employees towards change in organisation's orientation, i.e., profit, customers, and people orientations.
Hence, the paper mainly explores employees' perception about changing jobs and changing organisations' orientation. Also, HR practices play an instrumental role in the positions taken by the by managements/ organisations in communicating employees about the changes in job and changes in organisational values, mission, philosophies and performance. Thus, it seemed although ancillary, but relevant to also explore perceived importance of HR practices and the role of HR practices in order to attract, retain and motivate employees in banks.
Changing Perception towards the Aspects of Job
A well-designed job can positively impact both employee satisfaction and performance (Garg & Rastogi, 2006; Campion et al., 2005). Organisations cannot afford unfavourable attitude of employees towards their jobs, especially in the wake of change. According to Herzberg, Mausner, & Snyderman (1959), positive feelings regarding jobs were most often experienced in connection with the events involving achievement, recognition, interest and challenge in work, responsibility, and advancement/growth. Significance of exploring aspects of job which impact performance, motivation, satisfaction of employees has increased manifold. Characteristics of jobs such as interesting work or tasks, feeling of accomplishment, adding something to peoples' lives, were identified as more critical to a good job (Bibby, 2001). Also, the aspects of jobs which have been ranked highest by employees across all countries are security and interest in job (Clark, 1998), interesting and challenging work, and responsibilities in a job (Herzberg, Mausner, & Snyderman, 1959). These job aspects have a strong influence on employee performance. As a result of changing organisational contexts, jobs and job structure, content, and process of work (Heerwagen et.al, 2010), the priorities and perceptions of the job holder have also undergone change. Thus, the following section of the paper describes the support in the literature about the aspects of the job studied for this research, i.e., challenges, responsibilities, interest and significance in jobs.
The nature of the job itself is positively correlated with performance, which indicates that satisfaction with the amount of variety and challenge in one's job influence performance (Al-Ahmadi, 2009). According to Herzberg's theory (Herzberg, Mausner, & Snyderman (1959), a challenging job has the prospect for motivating people with achievement, recognition, advancement, and growth. Managers have widely accepted that goal setting is a means to improve and sustain performance (DuBrin, 2012). Also, specific and challenging goals lead to effective performance when linked to performance evaluations, thus, creating commitment and acceptance. High-skill jobs are seen by employees as more challenging because of the range of skills involved; they relieve monotony that arises from repetitive activities; and it gives employees a greater sense of competence (Lunenbeurg, 2011). Also, Herzberg's implications for job-enrichment highlight the need of sufficient challenge in a job to realise the full potential of the job incumbent. Employees seek avenues to carry out work that are more novel, extemporaneous, and context-based. According to Chamorro-Premuzic & Swan (2016), challenging activities in a job will stimulate the ability to learn and enhance their expertise, and hence contribute towards own growth and that of the company.
Job responsibility can be explained as the degree to which employees feel personally accountable for the work they do. Employees' responsibilities are beyond their job briefs but an important part of jobs (Pritchard, 2013). According to Hackman & Oldham (1976)'s work, the task responsibility can be explained as the degree to which an individual feels personally accountable and responsible for the results of the work he or she does. Herzberg, Mausner, & Snyderman (1959) and Herriot &Pemberton (1995) also emphasised the changing extent of responsibilities in jobs. The cover story by Pande (2013) revealed that in India, while considering companies for employment, most employees in companies consider 'higher role and responsibility' as really important. Also, job responsibilities have been found to be related to employee commitment (Robinson, Perryman & Hayday, 2004). According to Noms & Niebuhr (2002), commitment tends to be greater when people have high levels of responsibility over the jobs they performed. This highlights the consideration required to understand employees' perceived responsibility in their jobs.
When the tasks are enjoyable and interesting, it leads to employees' engagement for longer periods of time, and persistence beyond the point at which they are rewarded (Deci, 1972). Iran-Nejad & Cecil (1992) studied that interest functions in a manner that it gets people to attempt to learn and become proficient in new things. Perspectives on Psychological Science suggests that employee interests can be a better way to predict good performers in the job (2). Interesting activities in a job drive employee performance. Interest has also been identified as an essential precursor to career choice (Akbulut & Looney, 2007). Companies have been attempting to create workplaces that fit in the modern lifestyles (Van Meel & Vos, 2001). Today's workforce is not only driven by great salary and stock options, but also by interesting job. Interest has proven to be the major and a direct influence on goal-setting (Zhang, 2007), and consequently on performance.
Researchers (Hackman & Oldham, 1976; Salancik & Pfeffer, 1978) have proposed that when employees perceive high-task significance in their job, they display higher job performance. Job-design researchers conceptualize task significance as an objective characteristic of the work itself, seeking to increase job performance by structurally redesigning tasks to enrich employees' perceptions of task significance (Steers & Mowday, 1977). In India, according to the cover story in Business Today by Pande (2013), employees are looking for more meaning than money in India, and that the Gen Y workforce is interested learn and develop at workplaces. Empirical researches have supported that task significance is positively related to job satisfaction (Kulik et al., 1988) and organisational commitment (Glission & Durick, 1988). When the perception of task significance is cultured, it yields effective performance (Griffin, 1983). Thus, it is important to have activities in a job that stimulates a sense of significance in employees.
About The Study
Understanding employee perception can be a cognitive precursor to the behaviour of people (Armenakis, Harris, and Mossholder, 1993). Hence, in the context of change, employees' perceptions would help to understand changes in the organisations' orientation, and changes in the jobs According to the study (Singh, 2005), philosophies of management vary in public and private sector organisations. Realising change in perceptions would help to assess the organisation's readiness and ability to successfully manage change in high performance organisations. The following objectives were addressed with respect to changing high performance banking organisations, both public and private sector banks:
1. To understand the employees' perception about change in organisations' orientation.
a. The extent to which employees perceive change in their organisation's orientation, i.e., on profit, customer, and people.
b. The difference between the public and private sector in terms of employees' perception about change in their organisation's orientation, i.e., on profit, customer, and people.
c. Employees perceive importance of HR practices and the role of HR practices to attract, retain and motivate employees.
2. To understand the employees' perception about change in jobs
a. The extent to which employees perceive change in jobs, i.e., job activities, making the job w.r.t challenges in job, interest in job, responsibilities in job and significance in job.
b. The difference between the public and private sector in terms of the employees' perception about the change in their jobs.
3. Understanding the factors that explain the organisation's orientation--People, Profit and Customer--both in public and private sector banks.
To achieve the above objectives, high performance banks were identified based on their performance-ranking reported in the Business Standard. Ranking was based on various factors--Total Assets, Capital, Net worth, Deposits, Advances, Investments, Net Profit, Total Income, Interest Income, Fee Income, and Net NPA. Top ten performing banks were filtered first. Presence of high performance banks in south Rajasthan (area of the study) influenced final selection of the six banks. Three public sector banks were State Bank of India (SBI), State Bank of Bikaner and Jaipur (SBBJ), Bank of Baroda (BOB) and three private sector banks were ICICI Bank, HDFC Bank and Bank of Rajasthan (now merged with ICICI). The offices/branches of each of the six banks were randomly chosen in five districts in south Rajasthan.
This study was exploratory in nature and aimed at understanding the perceptions of employees towards change in organisations orientations and change in jobs. For the study, the aspects of the change in organisation orientations and change in jobs were identified mainly from the literature review, which was further reviewed by the subject matter experts. Based on it, questions were made to capture the extent to which employees' perceived change in their organisation's orientation and in job aspects. 3-4 questions for every aspect i.e. challenges, responsibilities, interest, and significance; and customer, profit and people orientation. Four questions, ancillary to the overall objective but important to understand employees' perception about change, were also framed as part of organisation orientation. These four questions aimed to explore the extent of perceived importance of HR practices and extent of perceived changing HR practices to attract, retain and motivate employees, respectively. Thus, a total of 29 items were made. After discussion with a group of academicians and banking professionals, items were reframed for better comprehension. Followed by a pre-test, assessment of internal consistency revealed a reliable questionnaire i.e., cronbach alpha was 0.813. 5 items were dropped based on the reliability assessment, and 24 items were finalised for the data collection i.e., employees' perceived change in their job in terms of challenges (3 items), responsibilities (3 items), interest (3 items), and significance (3 items). And questions about employees perceived changes in their organisation's orientation included profit (2 items), people (3 items), and customer (3 items) orientations; and 4 items to assessing employee perception about importance of HR practices, and extent of change in HR practices to attract, retain and motivate employees. All the responses were captured on a scale of 1- Not at all, 2- to a very little extent, 3- to a small extent 4- to a great extent, 5- to a very great extent. Analysis was done using SPSS 20.0; SPSS Inc. Along with the calculation of mean values, data was analyzed by applying stepwise multiple regression method.
The questionnaire was distributed to the bank employees across all management levels in public and private sector bank offices. 53% of main branches and offices were included in the study covering five districts of South Rajasthan, which is a rural and semi-urban area. As not all bank offices had HR department, hence main branches with HR department were consciously considered. Branches ranged from 13 employees in rural areas to 42 employees in semi-urban areas. 86.6% were men and 13.3% were women of the total respondents; age-groups were 20% (20-30 yrs), 25.7% (30-40 yrs.), 22.9% (40-50 yrs.) and 34.4% (more than 50 yrs.). 433 employees (both HR and non-HR) participated in the study. Finally, 412 responses (204 from public sector and 208 from private sector banks) from the were considered for further analysis.
Keeping in mind the objectives of the research, t-test was used which helped to assess differences in the perception of employees belonging to the public and private sector banks. Regression analysis was also done to identify the explanatory variables of the organisation's orientation separately for the overall banking sector (including public and private sector banks) and for public sector banks and private sector banks
Overall, the result (Table 1) highlight employees' perception about the extent of changes high performance banks are undergoing. Employees perceive change in organization's orientation. Result, supports that employees perceive that jobs in high performance banks have changed to a great extent.
Referring to the mean values (Table 1), we can infer that the extent of change was perceived to be more in case of the respondents belonging to the public sector banks as compared to the private sector banks. Regarding organisation orientation, the mean values reveal that employees feel that the customer, profit and people orientation of the banks have changed to a great extent. The mean values regarding the importance of HRM highlight that employees in both public and private sector banks perceive HRM as important. However, HR practices to retain, attract, and motivate employees have not really changed in the public sector banks as compared to the private sector banks. We can infer that while undergoing changes, high performance banks--both public and private sector banks--are bringing about changes in the jobs. The mean values highlight that change has struck the jobs in the public sector more severely than in the private sector.
Table 2 presents significant differences in the perception of the employees from public and private sector banks. Regarding the extent of change perceived in the jobs, significant difference is visible between respondents of public and private sector banks regarding their perception regarding change in interest and responsibility aspects of the jobs. However, with respect to the extent to which the respondents perceived change in their organisational orientation i.e., significant difference emerged between the perception of respondents belonging to public and private sector banks for all three orientations studied i.e., customer, profit and people. Mean values (Table 1) show the extent to which it is perceived that organisations are customer/ profit/ people oriented. The extent to which private sector bank employees perceive their banks to be customer/ profit/ people oriented, is higher than to public sector employees' perception.
Multi-collinearity between variables customer orientation profit orientation people orientation was checked. VIF values were found to be acceptable (less than 10) ranging between 1.02 and 2.20 across all the above regression equations. Table 3 depicts the factors that explain employees' perceived organisational orientation i.e., customer, profit and people. For each orientation, three significant models have been derived, acknowledging the factors that play a significant role in the public sector, private sector and overall banking sector, respectively.
Customer Orientation of the overall banking sector can be attributed to the profit orientation of banks and the importance of HR practices perceived by employees. Changes in job activities pertaining to responsibilities and job significance further add to the explanation. As per the results, the model (overall R2 = 59.2, F (5, 411) = 150.18, p < .001) highlights that banks' customer-centric focus is facilitated by strategies that deal with change in job responsibilities and job significance, and to some extent by the retention approaches of human resource management in the banks. Also, banks' concern for profit also explained the perception of employees about their organisation's changing customer orientation. The factors (model) that explain customer orientation in the private sector banks, i.e., R2 = 64.7, F (5, 207) = 77.00, p < .001 are similar to the ones that explain customer orientation in overall banks, except for job significance. Apart from the factors mentioned above, HR practices intended to retain employees additionally explain the 'customer orientation' in private sector banks. According to this equation, less amount of change in the HR initiatives of private banks to attract its employees is being interpreted by its employees as more customer centric organisation.
The profit orientation of banks, is evidently explained by customer-centric orientation perceived by the respondents. In case of the banking sector, R2 = 59.2, F (5, 411) = 150.18, p < .001, other factors that govern employees' perceived profit-centric orientation of the banks arechanges in the job making it interesting, and people's orientation of banks. But the extent of changes that make the employees' jobs challenging, negatively influences the perceived profit orientation of the banking sector. In public sector banks (R2 = 67.5, F (3, 203) = 141.44, p < .001) perceived profit-centric orientation not only influenced by the inadequate measures that imbue challenges in the jobs, but also influenced by the deficient HR practices that are not perceived to be attracting talent to the banks. This finding is supported by the literature, as discussed later, and by the assertion that jobs in public sector banks are less demanding. In the case of private sector banks, R2 =43.9, F (2, 207) = 81.98, p < .001, customer centrality and employment strategies to retain people, immensely impact profit-centred perceptions about private banks.
Overall, the extent to which employees feel that their banks are people-oriented is dependent (R2 = .44, F (6, 411) = 56.21, p < .001) upon perceived changes in job responsibilities, interest in the job, bank's profit orientation, perceived importance of HR practices, and changes in the approaches of attracting talent to banks. But, the extent of efforts made to make jobs challenging, negatively influences the perceived people's orientation for the banks. The perceived people's orientation of public sector banks however, is explained (R2 = 53.4, F (3, 203) = 117.46, p < .001) by the changes in job interest and the extent to which the banks are perceived to be profit-oriented. In the case of private sector banks (R2 = 31.1, F (3, 207) = 32.21, p < .001, the people perceived orientation accounts for changing HR practices to attract talent and also motivate them. Efforts directed towards incorporating responsibilities in the jobs also add to the perceived people-centric orientation of the private sector.
Discussions and Implementations
Indian banking is changing and emerging as one of the most profitable among the emerging economies. (3) According to Kamath et al. (2004), the people, customer and profit orientations of the banks help Indian banks to keep up with the challenges of change. Hence, it's important to look into the extent to which organisations are customer and/or profit and/or people-focused. Clearly, the private sector has evolved to become more customer, profit and people-focused as compared to the public sector. Results exhibit interesting findings that overall high performing banks are greatly perceived as more customer-focused, than profit or people-focused. The same also holds well in the case of both public and private sectors banks. A study (Chandrajeet, 2017) revealed that the public sector banks in India have to make efforts to modify their HR policies and practices to compete with private/foreign banks in the competitive environment.
Results continue to support findings public sector (RBI report, 2017) that banks need to redefine the customer service parameters to compete with those in the private sector, which are widely perceived to be more customer-oriented. However, Indian banks are expected to become more people oriented (4). Organisations that respond quickly to manage people and change will be able to outperform competitors. In these lines, the results show that high performing private banks are bringing about more changes in their practices as compared to those in the public sector. This can also be linked with the performance of these banks. Private banks were found to have performed well as compared to public sector banks (Chaudhary, 2014; Selvaraj, 2009; Sathye, 2005).
Results also highlight that new trends in the environment demand changes in many human resource management functions in banks, especially HR efforts directed towards attracting, retaining and motivating the workforce. Efforts made in attracting, retaining and motivating the workforce are important for banks in India (Singh & Sood, 2017; Udeshi, 2005). The results help to infer that practices responsive to change in banking organisations are mainly construed keeping the customers at the forefront which further contribute to the banks in becoming high performing banks.
Evidence supports the readiness of customer-centric banking organisations in the changing state of affairs, and underlining the emerging need of customer-responsive HR practices. Results show that change in retaining practices of employees is more in the private sector as compared to other banks. This finding is supported in research and the assertion that jobs in the private sector are more stressful and demanding (Sankalp, et al., 2010) and that compensation is highly performance or merit- driven, and that job security is a major concern in private sector banks (Jha, et al., 2008; Singh & Kohli, 2006; Thakur, 2007). Thus, retaining talent is one of the concerns for private sector banks (Singh & Sood, 2017; Nijhawan & Nijhawan, 2014), and for the overall banking sector (Kaur, Sharma & Seli, 2013). Private sector banks do not provide job security and would lay off their employees in cases of poor performance or adverse market conditions (Jha, Gupta & Yadav, 2008). Implications for managers in private sector banks can be drawn here regarding the changing practices dealing with improving motivation levels of the workforce.
Perceived profit orientation and perceived job significance along with the importance given to HR practices explain the perceived changing customer-oriented philosophies of public sector banks. Public sector banks have addressed change by adopting a customer-centric approach which translates into practical implications to improve HR practices; perceived effectiveness of HR practices; cultivating task significance in employees' jobs, thus, leading to better performance. Public sector banks have been perceived to be laggards in changing HR strategies to attract talent which is a challenge for them (Banking Bureau, 2007). Attracting talent is a challenge because of the significant and widening compensation differences with private sector banks (Kaushal, 2018; Bandhopadhyaya, 2007). Also, the Indian government feels that HR practices in public sector banks would face major revamping (Tiwari, 2017). Private sector banks are ahead of the public sector banks in supporting and addressing changes in compensation strategies. This assessment was supported by a report by RBI on Report of the Committee to Review Governance of Boards of Banks in India (2014). Compensation policies are one of the important management approach to attract talent in the banking sector. Also, as mentioned earlier, it's evident that present-day jobs are very demanding, and are turning out to be challenging, both mentally and physically. Thus, impelling employee retention to be addressed and not ignored.
Workplaces cannot remain the same, and so also the practices that manage such dynamic workplaces. Effectiveness of HR practices in changing organisations would play an instrumental role in affecting employees' perception about their jobs and organisations. The study brings forth the fact that the sectoral differences in terms of compensation, growth opportunities, social environment, and job security play a significant role in influencing employees' perceptions about job satisfaction. By leveraging this, jobs can be enriched and can be made highly motivating and satisfying for employees. Furthermore, the present study attempts to enrich the existing knowledge base in the area of job satisfaction in the banking sector, as there are very few studies that have studied Indian bank employees' perceptions of job satisfaction. It is important that the public sector banks increase employees' pay satisfaction by introducing a differential salary system based on one's merit and effort. In addition, human resource practices must be used effectively and fairly to enrich jobs. HR practices can be used to chalk out employees' career paths by ensuring the proper disbursement of growth and training programmes.
The most crucial and successful factor to make change a success is people (Armenakis, Harris, and Mossholder, 1993; Smith, 2005). Readiness to change can be explained by the perception of people towards change which determines success of any change intervention. Thus, it is imperative to understand employees' perceptions towards change. Employees' perception influences their involvement in strategic change management (Cummings & Worley, 2005; Eby, et al., 2000). Results highlight implications for managers to manage both changing internal and external contexts in banking organisations. According to Bayside (2010), employee perceptions have a bearing on the performance of organisation as a whole. The employees' favourable perception and attitude towards their jobs helps companies to have greater retention, translating into more customer loyalty, and consecutively better financial performance. A negative attitude would negatively influence an organisation's performance (Bayside, 2010).
Results highlight that changes in motivation practices, attracting talent, improvement in jobs, etc., can be addressed in organisations to influence workforce performance. Also, HR efforts need to be changed, initiating improvement in different characteristics of jobs, thus inducing a positive perception primarily towards changing jobs and the perception towards the organisational orientations.
Managers cannot ignore comprehending the employees' perception towards their changing jobs and their view point about the organisation's orientations. These perceptions act as a driving force behind the organisation's performance. Also, not only is it important to understand perception in terms of customer or profit or people's orientation, but also to identify the right blend of these orientations. Figuring out the right blend is the challenge for managers today. This paper highlights the importance of sharing with the employees, the change in job/organisational activities having impact on both employee and organisation levels. Sharing such information can prove to be more effective in creating and managing the 'right' perception amongst the employees. Today, changing jobs and contexts demand a lot from the managers. The paper highlights the opportunities for the managers to translate the regression equations into practical implications to improve HR practices and impact the way jobs and banking organisations will be perceived by the employees. Also, the results present models for banks to follow and to draw inferences from. Objectives of the present research may be extended to differentiate between high performing banks and low and/or moderately performing and the distinguishing factors. Also, research may explore other industrial sectors in India apart from banking, giving a wider and better understanding of employees' perception in the context of change.
To conclude, the Indian banking sector is undergoing change where the perception towards change is more positive. However, differences exist between public and private sector banks in terms of the employees' perception towards changes. Banks' orientations, i.e., people, customer, and profit orientations are changing (Shukla et al, 2018; RBI report, 2017), and these orientations are also translated differently by the public and private sector banks, drawing attention to the differences in their HR practices/ approaches being followed. Changing job analysis and organisational orientation provide evidence of the impact of new trends in the environment demanding change in the practices to reach higher performance levels. New trends are evident in both public and private sector banks. In order to survive and thrive, organisations are adapting to change and it's a challenge for the management of an organisation to strike a balance through HR practices in various job characteristics like interest, sense of accomplishment, innovation, etc. According to Martin et al. (2005) employees with positive perceptions about the organisation and the environment in which they work (that is, psychological climate), are more likely to appraise change favourably and report better adjustment in terms of higher job satisfaction, psychological well-being, organisational commitment, lower absenteeism and lower turnover intentions. Thus, highlights future research implications for longitudinal studies that would be beneficial in capturing the complexity and the evolutionary nature of employee responses to job and organisational changes.
Today, change is a given, and realising the readiness of people towards change can determine strategies to successful change. The perception of people towards an organisation can act as a mirror of what it believes in, the direction in which it is heading and its future strategies. Thus, gauging employee perception would help an organisation to understand the deviation in what they intend to convey to its employees and what actually gets conveyed or perceived, to address it for effectiveness.
The author is thankful to the editor and referees for their valuable inputs and feedback. Also, the infrastructural support provided by FORE School of Management, New Delhi in completing this paper is gratefully acknowledged.
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Prachi Bhatt FORE School of Management, India
Ph.D., Associate Professor, OB&HR FORE School of Management, B-18 Qutub Institutional Area New Delhi, India, 110016
(1) HDFC: http://www.hdfcbank.com/aboutus/News_Room/hdfc_profile.htm BOB: http://www.bankofbaroda.co.in/fin/fin_chairmanspeech.asp SBI: http://www.sbi.co.in/portal/documents/41076/60023/1403247921331_SBI_ANNUAL_REPORT_ENGLISH_2013_14.pdf/8a2bc6bba7a4-405d-98ec-a3749731bf76 ICICI:http://www.icicibank.com/managed-assets/docs/investor/annual-reports/2014/Subsidiaries-of-ICICI-Bank-Annual-Report-FY2014.pdf RBI: https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=699
Table 1: Perception about Extent of Change in Job, Organisation's Orientation & Importance of HR Factors Public Private Mean Std.Dev Mean Std.Dev CUSTOMER ORIENTATION 3.98 .904 4.38 .626 PROFIT ORIENTATION 3.92 .992 4.30 .672 PEOPLEORIENTATION 3.58 .864 4.01 .709 PERCEIVED IMPORTANCE OF HR 3.84 0.793 3.98 0.347 PRACTICES HR TO ATTRACT EMPLOYEES 3.11 1.02 4.09 .53 HR TO RETAIN EMPLOYEES 3.43 .66 3.49 .72 HR TO MOTIVATE EMPLOYEES 3.32 .83 3.51 .61 INTEREST IN JOB 3.19 1.076 3.00 .752 SIGNIFICANCE IN JOB 3.25 .992 3.11 .818 RESPONSIBILITY IN JOB 3.95 .657 4.08 .609 CHALLENGES IN JOB 3.63 1.045 3.45 1.098 Std.Dev= Standard Deviation Table 2: Perception of Change in Job: Difference Across Public and Private Sector. t -test t df Sig. Sig. (2-tailed) CUSTOMER ORIENTATION -5.223 410 0.00 (**) PROFIT ORIENTATION -4.578 410 0.00 (**) PEOPLEORIENTATION -5.479 410 0.00 (**) HR TO ATTRACT EMPLOYEES -10.348 410 0.00 (**) HR TO RETAIN EMPLOYEES -1.863 410 0.06 HR TO MOTIVATE EMPLOYEES -2.947 410 0.00 (**) PERCEIVED IMPORTANCE OF HR PRACTICES -2.291 410 0.02 (*) INTEREST IN JOB 2.093 410 0.04 (*) SIGNIFICANCE IN JOB 1.503 410 0.13 RESPONSIBILITY IN JOB -2.019 410 0.04 (*) CHALLENGES IN JOB 1.707 410 0.09 Note: (*) = p<.05; (**) = p<.01 Table 3: Factors of Organisations' Orientation: Difference across Overall Banking Sector, Public and Private Sector Banks Factors explaining customer orientation Overall banks Customer orientation = -0.64+ 0.63 PROFIT ORIENTATION + 0.25 PERCEIVED IMPORTANCE OF HR PRACTICES +0.17 RESPONSIBILITY IN JOB + 0.01 HR TO RETAIN_EMPLOYEES + 0.08 SIGNIFICANCE IN JOB [R.sup.2] = .64, F (5, 411) = 147.87, p < .001 Public sector banks Customer orientation = 0.14 + 0.65 PROFIT ORIENTATION + 0.23 PERCEIVED IMPORTANCE OF HR PRACTICES + 0.13 SIGNIFICANCE IN JOB [R.sup.2] = 64.84, F (3, 203) = 125.82, p < .001 Private sector banks Customer orientation = -1.2 + .47 PROFIT ORIENTATION + .29 PERCEIVED IMPORTANCE OF HR PRACTICES + .43 RESPONSIBILITY IN JOB + .39 HR TO RETAIN_EMPLOYEES_Pvt + (-.18) HR TO ATTRACT_EMPLOYEES_Pvt [R.sup.2] = 64.7, F(5, 207) = 77.00, p < .001 Factors explaining profit orientation Overall banks Profit orientation = -1.0 + 0.75CUSTOMER ORIENTATION + (-0.218) CHALLENGES IN JOB + 0.12 INETREST IN JOB +0.93 PEOPLE ORIENTATION [R.sup.2] = 59.2, F (5, 411) = 150.18, p < .001 Public sector banks Profit orientation = -2.1+ 0.781 CUSTOMER ORIENTATION + (-0.218) HR TO ATTRACT_EMPLOYEES_Pub+ (-0.189) CHALLENGES IN JOB [R.sup.2] = 67.5, F (3, 203) = 141.44, p < .001 Private sector banks Profit orientation = 1.16 + 0.51 CUSTOMER ORIENTATION + 0.25 HR TO RETAIN_EMPLOYEES_Pv [R.sup.2] = 43.9, F(2, 207) = 81.98, p < .001 Factors explaining people orientation Overall banks People orientation = -0.51 + 0.39 RESPONSIBILITY IN JOB + 0.24 PROFIT ORIENTATION + .25 INTEREST IN JOB + 0.19 HR TO ATTRACT_EMPLOYEES + 0.15 PERCEIVED IMPORTANCE OF HR PRACTICES + (-.08) CHALLENGES IN JOB [R.sup.2] = .44, F (6, 411) = 56.21, p < .001 Public sector banks People orientation = .98 +0.467 INTEREST IN JOB + .65 PROFIT ORIENTATION [R.sup.2] = 53.4, F(3, 203) = 117.46, p < .001 Private sector banks People orientation= 0.46+ 0.23 HR TO ATTRACT_EMPLOYEES_Pvt + 0.36 RESPONSIBILITY IN JOB + 0.34 HR TO MOTIVATE_EMPLOYEES_Pvt [R.sup.2] = 31.1, F(3, 207) = 32.21, p < .001
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|Publication:||International Journal of Employment Studies|
|Date:||Apr 1, 2019|
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