Diaries: The beginnings of secondary informations included research diaries such as JSTOR, Journal of Change Management, Harvard Business Review, Journal of Human Resources, Human Resource Development Quarterly, Willey Blackwell, SZABIST – JISR. To day of the month, major concern and commercialism diaries and some societal scientific disciplines diaries have published particular editions on this subject. The focal point of the diaries varied, from proficient facets of a denationalization trade to managerial subjects, and exemplified the complex nature of the alteration direction and denationalization procedure. Apart from these diaries several other beginnings available over the cyberspace and HEC digital library were besides referred to.

Research Tools

Close-ended questionnaires were the tool used to acquire required information from employees working in the subdivisions. The respondents were asked to either click a peculiar option from the given list options or Likert graduated table.

Expected Thesis Results

Employees ‘ major concerns while direction alteration was taking topographic point and their grounds

Types of opposition faced by the direction ( such as brotherhood work stoppages, employee turnover, ailments, etc. ) and schemes to pull off them

Tools and techniques used by the direction to pass on the alteration ( if any )

Changes in the organisation ‘s environment ( Culture alteration, attitude alteration, leading alteration ) due to administrative alteration

Technology clang ( if any ) that has come about due to the alteration direction procedure

Impact on the motivational degree of employees after or during the execution of alteration plan

Chapter FIVE

“ ANALYSIS & A ; DISCUSSION ”

5.1 Data Analysis and Findingss

The research worker worked with a sum of with a sum of 150 questionnaires, out of which 15 were from the pre-testing stage, 15 were discarded due to mistakes and the staying 120 have been tabulated studied and analyzed to derive an apprehension of this research. The questionnaire consisted of a sum of 18 inquiries, each of which will be analyzed in this subdivision of the thesis. In the undermentioned pages the research worker returns from one inquiry to another, one by one covering with the principle behind each inquiry every bit good as the findings and analysis derived by the responses of all 120 respondents. Finally the research worker conducts an analysis of all the inquiries in the questionnaire under the header of ‘Critical Analysis ‘ .

Q1. Are you cognizant of the term “ Denationalization ” ?

Figure 2: Pie chart demoing employees ‘ reply to the inquiry “ Are you cognizant of the term “ denationalization? ”

Out of the 120 respondents stand foring the subdivision banking population, 74 % of the respondents had a complete apprehension of the workings and mechanism of denationalization, while 26 % of the respondents were non as clear on the full procedure of denationalization but did hold an thought of the advantages and disadvantages related to such scenario.

Q2. In your sentiment is “ Privatization ” a positive measure towards:

Figure 3: Bar Graph demoing employee perceptual experiences about positiveness of denationalization

The respondents rated the options ‘Efficiency ‘ and ‘Profitability ‘ as being the most impacted by the denationalization procedure with 88 % and 85 % evaluation being given to both options severally. Other options such as ‘Utilization of Resources ‘ , ‘Customer Satisfaction ‘ and ‘Quality Product ‘ besides resulted in being favourably impacted by the denationalization procedure though non every bit much as the first two options. None of the respondents felt that denationalization had ‘No Impact ‘ of any sort as they all believed that there was some alteration that did happen due to the execution of such a procedure.

However it is interesting to observe that denationalization does non needfully take to high degrees of ‘Employee Satisfaction ‘ and ‘Employee Motivation ‘ . Respondents have given the two factors the lowest evaluation of 33 % and 31 % severally. This goes to demo that while denationalization must hold many advantages in footings of increasing a bank ‘s efficiency, profitableness and consequences in better use of resources, employees do non ever view this procedure as favourably and have low degrees of satisfaction and motive.

Q3. How do you happen the new direction ‘s leading manner after denationalization of HBL?

Figure 4: Pie chart demoing employee perceptual experience sing direction manner after denationalization

The highest weightage of 52 % was given to the option more important by the respondents as the employees felt that there is more coverage of their undertakings to higher-ups now than earlier. 23 % of the respondents stated that the direction manner has become more deadline oriented as after the denationalization procedure there is changeless monitoring of the work flow. For this ground besides none of the employees felt that the direction was if non down right bossy so neither was it any less enforcing.19 % of the respondents felt that to some extent the direction is besides democratic and their higher-ups do give them the opportunity to show their sentiments more than earlier. 6 % of the employees felt that there was no impact on the direction manner after denationalization and that their higher-ups treated them in the same manner as the old direction.

Q4. How is the attitude of new direction after denationalization of HBL, different from the older one?

Figure 5: Pie chart stand foring employees ‘ perceptual experience about attitude of new direction in comparing to old

Keeping in head the point of view of the respondents where they felt that the new direction ‘s leading manner was more important than earlier, here they support that sentiment where 57 % of the respondent province that the new direction has a more ascendant attitude. However, 16 % of the respondents besides felt that the new direction was much more appreciating of undertakings well-done, than the old direction. 14 % of the respondents felt that they could pass on more openly with the direction now than antecedently as the new direction had a more unfastened and friendly attitude while merely 3 % of the respondents felt that the direction had a discouraging attitude. 10 % of the employees felt that there was no impact on the direction ‘s attitude.

Q5. What impact has occurred on Salary Packages after denationalization?

Figure 6: Graphic representation of employees experiencing sing wage graduated tables after denationalization

39 % of the respondents felt that no impact had come about on the salary bundles. Further probe into this response led us to believe that wage is ever public presentation based and those employees who expected the wage to automatically increase after the denationalization procedure were disappointed when there was no positive alteration in their compensation bundles. 14 % of the respondents felt that the compensation bundles were less appealing than those offered by transnational Bankss while 10 % felt that after denationalization the compensation bundles had a negative impact.

However, 20 % of the respondents felt that the compensation bundles had become more attractive. This position was supported by those employees of HBL who were either fresh alumnuss with high degree grades who were offered moneymaking compensation bundles 12 % of the respondents felt that better benefits were being offered by the new direction, while merely 5 % believed that wages were impacted more than benefits.

Q6. How has the growing options for the employees within the organisation changed in the new environment?

Figure 7: Pie Graph stand foring employees ‘ position of future growing opportunities after denationalization at HBL

34 % of the respondents felt that there was more room to turn. This option was preferred with those employees who were wither fresh alumnuss inducted as Management Trainees or such experient employees who were given a minor publicity to promote them to stay loyal to the organisation. 20 % of the respondents felt that the growing chances were well lesser than earlier. This option was preferred by those employees who had minimum educational makings which hindered their opportunities of traveling up in the organisation.

27 % of the persons affirmed that there had been no impact in the growing options while merely 8 % of the respondents felt that old place held has degraded down the ladder after the acquisition. This was felt by those employees who did non accept the alteration positively as they were n’t promoted merely on the footing of their old ages spent in HBL and senior status. 11 % of the respondents did non hold complete consciousness or cognition of the hierarchy in HBL and they opted for the ‘Do n’t Know ‘ option.

Q7. Change was introduced in a sudden and baffled mode?

Figure 8: Graphic representation of how employees think sing mode in which alteration was introduced

58 % of the respondents agreed with the statement where they said that alteration was introduced in a sudden and baffled mode while 20 % of the persons were apathetic to the statement. 18 % of the respondents who were loyal to the organisation and were in full support of the alteration did non hold with the statement. While merely a little per centum opted for the utmost two options of strongly agreed 1 % and strongly differ 3 % , demoing that respondents are wary of taking extreme options as their replies and prefer to take moderate responses to province their sentiments.

Q8. New direction has increased the employees ‘ occupation attempts, loads and occupation demands?

Figure 9: Pie chart demoing perceptual experience of employees sing alterations in occupation demands after denationalization

69 % of the respondents approved the statement that their occupation attempts, loads and occupation demands were increased under the new direction. The employees felt that they were overburdened with non merely their current occupation demands but they besides had to undergo strict preparations in order to accommodate themselves to the technological alterations and alterations in the work flow and processes that the new direction was implementing under the alteration direction plan. 15 % of the employees did non hold it necessary to notice on this statement. While once more those respondents who had encouraged and supported the alteration, refuted this statement where 13 % chose the option disagree. 1 % of the respondents strongly disagreed and 3 % strongly agreed with the statement.

Q9. It was better for employees to continue their position quo and there was no demand for alteration in management/ environment?

Figure 10: Graphic representation of employees ‘ response to necessitate for alteration

Keeping in head the position point of the direction who believed that the organisation was ready for a alteration, a bulk of the respondents ( 43 % ) agreed with the top direction and realized that in order to maintain abreast with the competition it was necessary to alter over to a new direction and new working environment/style. 4 % of the respondents strongly disagreed with the statement and supported the new alteration. ( 40 % ) of the respondents believed in continuing the position quo. 13 % of the respondents neither agreed or differ with the statement while merely 1 % was strongly against the demand to convey about any kind of alteration in the organisation.

Q10. After denationalization of HBL, ends of alteration was clearly communicated to employees while its execution?

Figure 11: Graph picturing employees ‘ response sing direction ‘s communicating of alteration to them

45 % of the respondents stated that after the denationalization of HBL, ends of alteration were non clearly communicated to the employees while its execution, while 1 % strongly differ. Employees felt that the direction did non decently explicate to them full procedure to them, instead they were given spots of information as and when the direction deemed necessary. 28 % of the employees neither agreed nor disagreed with this inquiry as they were non willing to portion their sentiment. However 26 % of the respondents province that the ends of alteration were clearly communicated to the employees while its execution and they were cognizant of the stairss taken by the direction.

Q11. Change in direction has resulted in a loss of occupation, its additions and privileges?

Figure 12: Graphic representation of employees ‘ perceptual experience on how alteration in direction lead to occupation loss

65 % of the respondents agree that alteration in direction is a major ground for loss of occupations and their benefits. In their position, the new direction non merely allow old employees go, but besides cut the fringe benefits and benefits of employees who survived retrenchment. 18 % of respondents were apathetic to the statement. 16 % employees found the alteration in direction better for their occupations and related privileges, and therefore disagreed with the statement. Respondents as in old inquiries did non choose for the two utmost points. 1 % of them strongly agreed with the statement and none of them strongly disagreed.

Q12. Change in engineering has resulted in a loss of occupation, its additions and privileges?

Figure 13: Graphic representation of employees ‘ perceptual experience on how alteration in engineering lead to occupation loss

55 % of the respondents agreed to the impression that alteration in engineering has resulted in loss of occupation and its additions and privileges. They were of the position that those who could non upgrade themselves with altering engineering were either told to step out of the organisation, or were given a low profile occupation that did non affect usage of new engineering, and therefore, their growing was ceased. 23 % of the respondents disagreed with the statement and supported the alteration in engineering as a driver for their growing. 22 % of the respondents were apathetic to the statement. As in several other inquiries, respondents refrained from touching the utmost points of the graduated table and none of them strongly agreed or differ with the statement.

Q13. Change in the working environment has resulted in a loss of occupation, its additions and privileges?

Figure 14: Graphic representation of employees ‘ perceptual experience on how alteration in working environment lead to occupation loss

59 % of the respondents agreed that alteration in working environment has lead to occupation loss. Senior employees who could non get by up with alterations in the environment of their workplace, of which they were used to, had to free their occupations either in Voluntary Separation Schemes, or Pre-mature Retirements or in retrenchment, and those who survived, were still unqualified plenty with the new environment to turn further in their callings. 22 % of the respondents favored this alteration in working environment and found it to be a factor of better occupation consequences. 18 % expressed themselves to be apathetic with the factor whereas 1 % respondents strongly agreed with it. However, none of them strongly disagreed with the statement under treatment.

Q14. Employees were given proper and equal preparation for any technological alterations that have taken topographic point after denationalization?

Figure 15: Representation of employees ‘ perceptual experience on preparation and development steps of HBL direction

74 % of the respondents agreed ‘ , while 3 % strongly agreed that preparation was provided to them in order to get by up with the technological alterations after denationalization. Many respondents ticked this pick as they did have some signifier of preparation, which was a scheme of the top direction to seek to fit their employees with up-to-date professional accomplishments. 21 % of the respondents disagreed that preparation was provided to them, chiefly because due to either the nature of their occupation or their place in the hierarchy did non do them eligible for the preparation being provided. 3 % of the respondents adopted a impersonal stance. Interesting to observe is that none of the employees strongly disagreed with the statement that preparation was provided, turn outing that the top direction did guarantee that its employees received preparation in one signifier or another.

Q15. After denationalization, employees are given adequate freedom to name current jobs and suggest new solutions?

Figure 16: Pie chart demoing employees ‘ positions about freedom of address provided to them by the direction

The response to this inquiry was interesting as 42 % of the respondents felt that their higher-ups did non give them plenty purchase to name jobs, suggest new solutions or take part in the decision-making procedure, while 42 % of the respondents felt that they were given ample chances to be actively involved in a job declaration procedure. 1 % of the respondents strongly disagreed that they were given greater freedom to name current jobs and suggest new solutions whereas 3 % strongly agreed with this statement. 13 % of the respondents adopted a impersonal stance.

Q16. What is the degree of enthusiasm of employees after the alteration direction procedure of the Bank?

Figure 17: Bar graph exhibiting employees ‘ motive degrees after denationalization

Despite the top direction ‘s confidence that the denationalization plan was a great success, the research worker found out that the motivational degree of the employees was low. 46 % of the respondents stated that they were ‘De-Motivated ‘ after the new procedure was introduced while 2 % were ‘Highly De-Motivated ‘ . This information is in conformity to the assorted surveies that the research worker studied which stated that any kind of alteration plan is likely to ensue in opposition from the employees chiefly which in bend leads to low degrees of employee satisfaction and employee motive.

33 % of the respondents stated that they were ‘Motivated ‘ while 4 % were ‘Highly Motivated ‘ with the debut of the alteration direction procedure. These respondents include employees who non merely supported the alteration but were besides willing to actively be involved in the alteration direction procedure. 15 % of the employees stated there was no impact on the degree of their motivation/enthusiasm. This could intend that they were non truly interested in analysing whether the alteration direction procedure had any affect on their motivational degree.

Q17. In your sentiment, the alteration attempts taken by the new direction after denationalization have been:

Figure 18: Pie chart picturing employees ‘ position point of the alteration attempts being positive or negative

Keeping in head the sentiments of the respondents to the above inquiries it is non really surprising to see that most of them viewed the alteration attempts as being negative. 65 % of the respondents feel that the alteration attempts have been negative while 24 % feel that they have been positive. 11 % of the respondents did non hold an sentiment sing this phenomenon.

Interesting point to observe is that while the top degree direction had merely positive things to state about the alteration direction plan of HBL, the in-between degree direction or the employees who were straight affected by this procedure did non hold a positive sentiment sing the plan at all, taking the research worker to detect that the findings have been similar to those that were reviewed in the literature by the research worker during the class of this survey. While employees to give any farther remarks sing the denationalization procedure in general, it was stated that they were non satisfied with the denationalization procedure as they felt their occupation position was threatened, there was a loss of occupation satisfaction and a lessening in the motivational degrees of employees as they felt cut off from the directions ‘ determination devising procedure. Older employees felt more threatened as they had to follow the new patterns in order to retain their occupations.

5.2 Critical Analysis/ Argument

The analysis of each inquiry indicates that the perceptual experience of employees, maintaining in position the given responses, is non really positive sing the denationalization procedure of HBL.

Through this study, the research worker was able to foreground the assorted factors that led to their dissatisfaction with the new plan. First the employees province that the attitude of their superiors/management is important and ruling. Keeping in head the literature that the research worker reviewed, this concern of the employees is highlighted clip and once more in those surveies every bit good, whereby back uping the information gathered by the research worker that fright and misgiving of the direction is so high that even the slightest of dictates by their higher-ups are found to be negative and violative.

Another factor that has impacted the employees is the technological promotion that has come about as a consequence of denationalization. Though the direction of HBL made certain that assorted preparations were provided to the employees in order to get by with the alteration, the employees felt that they were incapable of managing the new engineering. As viewed by responses of inquiry 12 the inability to manage the system ended up being a demoralizing factor for the employees every bit good taking them to believe that they were incompetent. However, measuring the impudent side, those employees who wholly support the denationalization plan stated that this alteration in engineering had non merely reduced the work load but had besides enabled the bank to offer better service to their clients ensuing in high client satisfaction and high client trueness.

Another of import factor taking to dissatisfaction amongst employees was the fact that most of them felt that the compensation bundles did non automatically increase with the coming of denationalization. Infact bulk of the respondents felt that there had been no impact on the salary bundles. This was chiefly felt by those employees who were once more senior members or those employees whose accomplishment set did non run into the standards of the new direction, who felt that they deserved to have better compensation bundles on the footing of their trueness, old ages of service and age factor. However the new direction had designed their compensation bundles to reflect the part of the employee and non merely their age or experience factor. Employees who did non run into the standards defined the direction were evidently disgruntled and this was reflected in their responses of the questionnaire.

A point to be considered is the fact that the respondents who did n’t tag the factors they felt were impacted after the denationalization plan, subsequently in the questionnaire did hold an sentiment about those factors. Hence, exposing that they held a perceptual experience but were n’t certain of showing their feelings.

Chapter SIX

“ CONCLUSION & A ; RECOMMENDTION ”

Conclusion & A ; Recommendations

Sing the state of affairs from the position of the employees led the research worker to believe that they were non really satisfied with the denationalization procedure as a bulk of them had a more negative sentiment than a positive 1.

Top direction executives of HBL reveal that employees were involved in extended engagement activities and preparation and development plans. But maintaining in position a immense employee base of more than 15,000, it was non possible for the direction to modify its plan harmonizing to each employee ‘s wish, particularly when taking clip and cost factors into consideration. Therefore, the direction had to implement a plan which, from the direction ‘s position, was generalized for the greater involvement of both the stakeholders, i.e. employees and the bank.

The chief concerns of the employees confronting the alteration were that they did non hold trust in the new direction, they feared the alterations due to opportunities of their occupation loss, they were accustomed of populating a public sector professional life and a sudden alteration everyplace created confusion in their heads and though they were involved in town hall meetings and employee battle activities, yet they had in their head an “ important and bossy ” perceptual experience of the new direction, and therefore, were loath to pass on their sentiments in forepart of direction openly.

Before transporting out the alteration plan, phase was non set by the direction for employees so as to give them a infinite of comfort. Though communicating was carried out extensively throughout the plan in parallel with its execution, proper and thorough communicating required before execution of alteration was absent. Due to this it was felt that the alteration was brought approximately in a sudden and baffled mode, HBL ‘s direction, which was already being viewed as employees ‘ enemy because of downsizing the employees and weakening the brotherhood, lost its bing assurance in employees and this deficiency of communicating therefore widened the spread between the two parties. Therefore, communicating made while alteration was being practically brought in and implemented was really taken by the employees as merely “ directives from the Head Office ” , which they were bound to accept. Lack of communicating played a major function in transfusing feelings of dissatisfaction amongst the employees.

Researches believes that while the denationalization procedure was successfully implemented from the position of the top direction ; the in-between degree direction employees do non hold a really positive sentiment sing the full procedure even tough it has been 5 old ages since HBL was privatized.

The first and the first recommendation of research worker suggests that:

Apart from direction ‘s actively promoting the engagement of employees in the concern determinations to a certain degree, mutualist squads should be formed holding a mix of both top degree and middle flat direction employees in order to promote teamwork, synergism and unfastened communicating and take the negative perceptual experiences of the employees sing their higher-ups.

The readying of a Career Development Plan ( CDP ) in order to give each employee a clear vision sing their calling waies and future growing. This Plan would non merely turn to the employees ‘ concern sing their hereafter, but would besides heighten their enthusiasm and motive degree when they realize the benefits they could accrue in footings of their calling growing by lending efficaciously towards their personal and organisational ends.

New and old employees should non be judged along the same curve. Newer employees are more dynamic, speedy to larn things, more energetic, enthusiastic and engineering oriented than their seniors, which makes them acquire an border over the older employees who have merely been brought into an wholly changed environment after go throughing a conventional professional life for more than 5 decennaries of HBL ‘s bequest. Judging them on the same curve with the newer employees on the footing of productiveness degrees would of course maintain their rankings lower. Therefore, senior employees should be judged on a different graduated table, non on the footing of their productiveness merely but besides on the footing of how much have they improved themselves within the period of rating. This finally would actuate them to work for the bank more expeditiously and fruitfully.

The research worker besides believes that implementing these recommendations as a portion of their future enterprises would enable the direction of HBL to transport them out in a drum sander and more effectual mode than earlier.