24-09-2012, 11:50 AM
Stress Management of Bank Employees
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INTRODUCTION
Stress means some internal or external force that causes a person to become tense, upset or anxious and even make him ill. At the same time some stress is needed to motivate a person to do his work effectively. But when this stress exceeds the limit it can become an invisible monster. The word stress is derived from Latin term ‘stringers’ which means ‘to draw tight’ when the demands on an individual exceeds his capability and adjustment resources stress occurs. Stress is generally believed to have a deleterious effect on health and performance.
In today’s changing and competitive work environment, stress level is increasing both in the workers as well as managers. As a result of this work stress, more and more managers are showing signs of chronic fatigue and burnout. Research has concluded that stressed out managers are not good for their companies or shareholders. In most cases, stress leads to reduced efficiency in even the best of individuals, which in turn leads too reduced productivity. Stress is a problem in almost all the countries of the world, irrespective of whether the economy is strong or weak.
Stress is the ‘wear and tear ’of our bodies experience as we adjust to our continually changing environment; it has physical and emotional effects on us and can create positive or negative feelings. As a positive influence, it can result in feeling of distrust, rejection, anger, and depression which in turn can lead to health problems such as headaches, upset stomach, insomnia, ulcers, high blood pressure, heart diseases and stroke. There is another stress called eustress. Eustress is positive stress that stimulates a person to function better. Every organization must maintain a level of eustress to get better output from their employees.
Importance of study
Stress is a new era. It is an inevitable part of today’s fast life. Now a day’s completion among banks has increased employees outperform to reach at the top. All banks fix the target to their employees, and employees are asked to attain this target, this will create a lot of stress to them.
Bank employee’s deal with money and any laxity on their part make them personally accountable. After the introduction of VRS in the public sector banks, there is considerable shortage of staff in almost all bank branches. The response to VRS exposed the level of frustration prevailing among the bank employee. In many bank branches; two or three departments have been dubbed and are being handled by just a clerk and an officer. The employees have to race against time to finish the day’s work. Unlike in most government departments, work cannot be kept pending in banks Owing to this many employees are compelled to work beyond their stipulated working hours without getting any overtime allowance or salary hike. All these lead to an increased stress to bank employees.
The effect of stress on individuals is not encouraging sometimes it may be responsible for variety ailment including high blood pressure, heart attack, diabetes, asthma etc. the cost of stress are immense studies of stress among American workers reveal that, the cost of stress related absenteeism, lower productivity, rising health insurance cost, and other individual expenses is close to 5300 billion and rising. In this context this study is supposed to be very important.
Statement of problem
Any research requires a proper understanding of the problem. A well defined problem is “half work done”. Statement of problem is the work done were the reason for taking up a particular topic or research is justified. Many creative efforts fail because the problem is either unclear or it is focused in the wrong place. If people have different opinions of what the problem really is, they will constantly diverge and never be able to find closure on a suitable solution.
Stress is not automatically bad for individual employees or their organizational performance. It is the dysfunctional aspects of the high levels of stress that should be and are a major concern for contemporary society in general and for effective human resource management in particular. Distress experienced by individuals has negative consequences for them, their families and for the organizations the serve.
COMPANY’S PROFILE
ICICI GROUP
In 1955, The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. Mr.A.RamaswamiMudaliar elected as the first Chairman of ICICI Limited. ICICI emerges as the major source of foreign currency loans to Indian industry. Besides funding from the World Bank and other multi-lateral agencies, ICICI was also among the first Indian companies to raise funds from international markets
OVERVIEW
ICICI Group offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized group companies, subsidiaries and affiliates in the areas of personal banking, investment banking, life and general insurance, venture capital and asset management. With a strong customer focus, the ICICI Group Companies have maintained and enhanced their leadership position in their respective sectors. ICICI Bank is India's second-largest bank with total assets of Rs. 3,997.95 billion (US$ 100 billion) at March 31, 2008 and profit after tax of Rs. 41.58 billion for the year ended March 31, 2008. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalization. The Bank has a network of about 1,308 branches and 3,950 ATMs in India and presence in 18 countries.
BANKING SECTOR: BIGGEST BENEFICIARY OF INDIA GROWTH STORY
Indian growth is supported by four important pillars, namely domestic consumption, infra-structure & capex boom, competitiveness emanating from skilled manpower & cost arbitrage & economic liberalization. Aggressive players like ICICI Bank which have identified future growth triggers & have geared up their machinery to take advantage of this positive environment are likely to derive maximum benefit.
The bank will be able to utilize Rs. 20,000 crore it has raised through recent follow-on public offer (FPO) for its aggressive core business expansion. The bank’s management has indicated that the pace of growth in the economy as well as bank’s business in the past few years is unprecedented & the amount raised through FPO will address the increased capital requirements for the banks for the next three years.
Key growth drivers
ICICI Bank was among the first to recognize the opportunity presented by the retail market & became market leaders across the spectrum of the retail products. Anticipating slow-down in its retail business activities in time, the bank has concentrated on diversifying its business portfolio in the areas of international banking, SMEs & rural & agri lending. For all these areas the bank has adopted aggressive approach. In longer run, the bank wants each of these business contribute significantly towards its overall business.