THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK Dissertation

THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) - Dissertation Example Employee satisfaction is absolutely necessary among front desk staff especially those working in investment banks or other sales related companies as they represent an organization and bring in a greater portion of the revenue. The purpose of this study is to measure the employee satisfaction levels among Lloyds TSB front desk staff, one of the leading banks of UK. A questionnaire based survey was conducted and it was found that although the pay package and benefits provided by the bank were quite attractive, employee satisfaction was average among the Lloyds TSB front desk staff. An analysis of the questionnaire using popular satisfaction/motivation theories revealed that along with money other factors such as communication with the employees, respect and recognition and appreciation are also important. It was found that hard HRM is mostly practiced in Lloyds Bank TSB branches and hence it is recommended that a blend of both hard and soft HRM should be applied in order to improve th e employee satisfaction levels. ... ies 15 2.3 Maslow’s Theory 16 2.4 Herzberg’s Two Factor Theory 18 2.5 Alderfer’s ERG Theory 19 2.5.1 Using Alderfer’s ERG Theory at Workplace 20 2.6 Vroom’s Theory of Expectancy 20 2.6.1 Applying Vroom’s Expectancy Theory in an Organization 21 2.7 Locke’s Path Goal Theory 21 2.8 Studies on Employee Satisfaction 22 2.9 Theoretical Framework 24 3.RESEARCH METHODOLOGY 26 3.1 Research Philosophies 26 3.2 Research Design 27 3.3 Data Sources 28 3.4 Data Collection Tools 28 3.5 Sampling Strategy and Sample Size 29 3.6 Data Analysis 31 3.7 Validity and Reliability Concerns 32 3.8 Ethical Considerations 33 4.FINDINGS 34 4.1 Section A: Demographics 34 4.2 Section B: Human Resource Policies 37 4.3 Section C: Job satisfaction at Lloyd’s bank 43 4.4 Section D: Employee Training and Development Practices 48 4.5 Section E: Performance and Evaluation 48 4.6 Section F: Compensation 49 4.7 Section G: Employee Retention 51 4.8 Section H: Employee Commitment 52 5.DISCUSSION AND ANALYSIS 54 5.1 Analysis 56 6.CONCLUSION 59 6.1 Recommendations 61 6.2 Revisiting Aims and Objectives 62 6.3 Research Limitations and Future Research Scope 63 References 64 Appendix- I 73 THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) 1. INTRODUCTION Employee satisfaction is commonly defined as the measure of how happy and content an employee is with his/her job and working environment (Kennet & Salini 2011). It has been observed that at times even though the package offered to the employee is good, the employees become discouraged and resign from their jobs. Certain factors like limited growth opportunity, lack of appreciation and recognition, high job stress and even lack of communication within the organization discourage and frustrate an employee. The

Individual report Assignment Example | Topics and Well Written Essays - 4750 words

Individual report - Assignment Example Review and Summary of Brand 10 3a. Brand Equity 10 3b. Brand Position 11 3c. Brand Identity 11 3d. Brand Personality 12 4. ‘Summary of Insight/Key Findings Derived From the Current Brand Status Analysis’ 12 Phase 2:   Decision   Making   And   Long   Term   Management   Of   The   Brand 14 1. Reinforcing and Maintaining Brand Consistency 14 2. Expanding Brand Awareness 16 3. Repositioning the Brand 17 4. Marketing Mix Communication Recommendation 19 5. Synopsis of Recommendation for the Future of Crabtree & Evelyn 21 References 22 Phase 1:   Current  Brand Status Analysis 1. Current Industry Condition in Which the Brand Operates Crabtree & Evelyn is operating in the personal care industry. The personal care products might be comprehended as the products that can be used for the personal hygiene as well as personal health. The products can be tongue cleaner, bathing salts, tooth brush, body scrub, body talc, skin creams, face wash, soaps, nails as we ll as cuticle care products. The chief four subsectors that manufacture wide range of products are face care products, hand and foot care products, hair care as well as cosmetics. 1a. Industry Size and Overall Sales Trends for Major Product/Service Segments The total revenue produced by the market for the UK bath and shower products had been $642.6 million in the year 2009. The compounded annual growth rate (CAGR) for the year 2005-2009 had been 0.5%. The deodorant market of the UK in the year 2009 was successful in generating total revenues of $904.3 million and the compounded annual growth rate had been 4.4% for the period 2005-2009. The hair care markets, hand and body care market, make-up market, fragrances market, facial care market and personal hygiene market were successful in generating the market revenues of $1.8 billion, $611 million, $1.8 billion, $1.7 billion, $1.3 billion and $1.9 billion respectively representing compounded annual growth rate of 11.%, 2.2%, 6.6%, 7.3%, 3.7% and 2.3% respectively (Aarkstore, 2011). According to the views of Irina Barbalova who is the head of the beauty and personal care research at euromonitor tried to throw light upon the current global consumers trends for the personal care and beauty. According to her opinion, rise in the beauty as well as personal care sales in the year 2010 has been evidenced. It was further noted that the consumers returned back to the premium cosmetics since the recession for the first time. The reason behind this phenomenon has been the product innovation that took place in the premium segment. It can be revealed that the regions that saw a decline in the premium cosmetics in the year 2009 observed a recovery in the year 2010. It has been the hi-tech innovation supporting the premium segment recovery which spread to the mass segment and private label thus providing the customers with a better value for money (Euromonitor International, 2011). 1b. Market Share and Market Share Trends for Ma jor Competitors There are many players in the personal care industry whose market share has been quite high. One of them has been Procter & Gamble which is the world’s biggest producer in the household and personnel care product (HPC) in terms of revenue. The products are accessed by 4 billion people all over the globe. The business of Procter and Gamble in the quarter of 2011 is quite strong. The sales volume has surmounted by 5%. The growth has been quite broad consisting of 6 business segments, 16 of its top 17 countries as