Factors affecting Quality of Work Life among Nationalized Bank employees

As banking industries are becoming increasingly important to the economies of developed nations, the organizations affirm that their employees are the most valuable assets. If employees perceive an organization as offering a good Quality of Work in return for their contribution to an organization, then it is likely that employees will report higher levels of performance and job involvement. Quality of Work Life (QWL) can be defined as the satisfaction of an employee develops for his or her career, allowing them to enhance their personal lives through their work and work environment. Quality of Work Life in an organization is essential for the smooth running and success of its employees. Various factors affect an employee's Quality of Work Life. The objective of the present study is to identify the factors affecting the Quality of Work life of the employees in Nationalized Banks. Data was collected from 150 employees of Nationalized Banks in Indore (M.P.) India. Factor Analysis was used to identify the factors, which are contributing in Quality of Work Life. The study identified ten factors with the help of SPSS software namely: Organizational commitment, Healthy work environment, Motivational climate, Job redesign and compensation Career prospects, Fair compensation, flexibility, career development, Equity and Human Relations, Employees’ Participation.