Journal of Business and Management Sciences, 2015, Vol. 3, No. 1, 45-52 Available online at http://pubs.sciepub.com/jbms/3/1/6 © Science and Education Publishing DOI:10.12691/jbms-3-1-6 Measuring Employee Satisfaction through Factor Analysis: A Case of State Bank of India (SBI) in Bhubaneswar Monalisha Pattnaik * , Adyasha Suvadarshini Department of Business Administration, Utkal University, Bhubaneswar, India-751004 *Corresponding author: monalisha_1977@yahoo.com Received March 10, 2015; Revised April 02, 2015; Accepted April 13, 2015 Abstract The present paper focuses on measuring the employee satisfaction level in SBI. An extensive study has been done to identify the significant factors contributing to employee satisfaction. Demography study has been carried along with the Chi-Square test to test the independence of attributes. Factor analysis has been carried out to reduce the data and identify the critical factors. Keywords: employee satisfaction, factor analysis, welfare schemes, financial benefits, work culture Cite This Article: Monalisha Pattnaik, and Adyasha Suvadarshini, “Measuring Employee Satisfaction through Factor Analysis: A Case of State Bank of India (SBI) in Bhubaneswar.” Journal of Business and Management Sciences, vol. 3, no. 1 (2015): 45-52. doi: 10.12691/jbms-3-1-6. 1. Introduction Employee satisfaction refers to the general attitude of employees towards their job and the socio-psychological environment related to the job dimension. Employee satisfaction is the cause for several benefits and consequences of many factors. When employees are satisfied with their jobs, their lives away from jobs will be better off. In contrast, the dissatisfied employee carries the negative attitude home. Some benefits of job satisfaction accrue to every citizen of society. Satisfied employees are more likely to be satisfied citizens. These people will hold a more positive attitude towards life in general and make for a society of more psychologically healthy people. Now-a-days most of the employee-centric organizations emphasize on the personal growth and satisfaction of their workforce. State Bank of India has been a pioneer in its HR policy over the years with the basic underlying principle of sharing and caring and a sense of belongingness amongst all employees who are considered to be a part of SBI family. SBI recognizes that its people are the primary source of its competitiveness and is committed to equal employment opportunities for attracting the best available talent and ensuring a cosmopolitan workforce.SBI aims to pursue management practices designed to enrich the quality of life of its employees, develop their potentials & maximize their productivity. It also aims at ensuring transparency, fairness and equity in all its dealing with its employees. The organization has been known as a leader in introducing various HR practices and setting benchmarks in the global as well as Indian industry. 2. An Overview of SBI State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. It was founded on 1 st July, 1955. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras (incorporated on 15 April 1841) merged into the other two presidency banks Bank of Calcutta and Bank of Bombay (incorporated on 1 July 1843) to form the Imperial Bank of India, which in turn became the State Bank of India (SBI) in 1955 by an Act of Parliament 1921. Government of India nationalized the Imperial Bank of India in 1955, with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI was ranked 285th in the Fortune Global 500 rankings of the world's biggest corporations for the year 2012.SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout the country. SBI has five associate banks namely: State Bank of Bikaner & Jaipur • State Bank of Hyderabad