House Building and Personal Finance-A Study of Salaried Employees in Kerala

School of Management Studies,Cochin University of Science and Technology

An Analysis of Work Related Stress Factor in Selected Industries in Kerala ,India

Occupational stress is becoming a major issue in both corporate and social agenda .In industrialized countries, there have been quite dramatic changes in the conditions at work, during the last decade ,caused by economic, social and technical development. As a consequence, the people today at work are exposed to high quantitative and qualitative demands as well as hard competition caused by global economy. A recent report says that ailments due to work related stress is likely to cost India’s exchequer around 72000 crores between 2009 and 2015. Though India is a fast developing country, it is yet to create facilities to mitigate the adverse effects of work stress, more over only little efforts have been made to assess the work related stress.In the absence of well defined standards to assess the work related stress in India, an attempt is made in this direction to develop the factors for the evaluation of work stress. Accordingly, with the help of existing literature and in consultation with the safety experts, seven factors for the evaluation of work stress is developed. An instrument ( Questionnaire) was developed using these seven factors for the evaluation of work stress .The validity , and unidimensionality of the questionnaire was ensured by confirmatory factor analysis. The reliability of the questionnaire was ensured before administration. While analyzing the relation ship between the variables, it is noted that no relationship exists between them, and hence the above factors are treated as independent factors/ variables for the purpose of research .Initially five profit making manufacturing industries, under public sector in the state of Kerala, were selected for the study. The influence of factors responsible for work stress is analyzed in these industries. These industries were classified in to two types, namely chemical and heavy engineering ,based on the product manufactured and work environment and the analysis is further carried out for these two categories.The variation of work stress with different age , designation and experience of the employees are analyzed by means of one-way ANOVA. Further three different type of modelling of work stress, namely factor modelling, structural equation modelling and multinomial logistic regression modelling was done to analyze the association of factors responsible for work stress. All these models are found equally good in predicting the work stress.The present study indicates that work stress exists among the employees in public sector industries in Kerala. Employees belonging to age group 40-45yrs and experience groups 15-20yrs had relatively higher work demand ,low job control, and low support at work. Low job control was noted among lower designation levels, particularly at the worker level in these industries. Hence the instrument developed using the seven factors namely demand, control, manager support, peer support, relationship, role and change can be effectively used for the evaluation of work stress in industries.

A study on the Effect of Psychological Empowerment on Job Satisfaction and Job Related Stress Among the Bank Employees

The present research is carried out to understand how psychological empowerment, job satisfaction and job related stress are related.In banking sector, employees are less satisfied and less motivated than employees in other lines of work (Kelley, 1990; Bajpai, Naval and Deepak, 2004). The banking industry also suffers from high employee turnover rate (Branham, 2005; Nelson, 2007) and high level of stress (Chen and Lien, 2008). There are no adequate studies linking psychological empowerment and job satisfaction, stress, turnover etc. among employees of banking sector. Lack of psychological empowerment could be a reason for these problems faced by banking sector. Further majority of studies in psychological empowerment are carried out in manufacturing sector and studies in service sector are concentrated on hotel industry and hospitals. Empowerment takes different forms in different contexts (Zimmerman, 1995). In the light of above discussion, the present research is directed to explore the dimensions of psychological empowerment of employees in banking sector and to find out whether high psychological empowerment can increase job satisfaction and reduce job related stress among employees in banking sector

A study on the Effect of Psychological Empowerment on Job Satisfaction and Job Related Stress Among the Bank Employees

This study focuses on psychological empowerment of employees in banking sector because of the reasons stated below: Firstly, very little research has been conducted in understanding empowerment as a psychological construct. Majority of the studies have been conducted on the various empowerment practices in the organizations. Secondly, there is no empirical evidence that the empowerment practice will create a subjective feeling of empowerment within the individual. Employee empowerment will be effective only if the employees actually experience the empowerment. Even if the organizations have the empowerment practices like providing power and open communication it is not necessary that the employee is empowered. Empowerment describes only the condition of work environment. It does not describe employees’ response to these conditions. These responses form the basis for psychological empowerment