INTRODUCTION

INTRODUCTION

Stress is a dynamic condition in which an individual is confronted with an opportunity, demand or resource related to what the individual desires and for which the outcome is perceived to be both uncertain and important. This is a complicated definition.

The stress can manage by passing time with close friends & family members. Stress is not necessarily bad in and of itself. Although stress is typically discussed in a negative context, it also has a positive value. Its an opportunity when it offers potential gain. Consider for example, the superior performance that an athlete or stage performer gives in clutch situations. Such individuals often use stress positively to rise to the occasion and perform at or near their maximum. Similarly, many professionals see the pressures of heavy workloads and deadlines as positive challenges that enhance the quality of their work and the satisfaction the get from their job. But it is different in the case of bank employees. The bank employees are the people who also have to achieve the certain target and so for the non achievement of target the employees remain stressed and tensed. The employees who have the simple table work 2

also have to face the problem of stress. Due to recession the banking sector is also facing the problem of employee cut-offs and so the work load of the existing employees increases and the feel stressed.

The types of stress are named as eustress and distress. Distress is the most commonly-referred to type of stress, having negative implications, whereas eustress is a positive form of stress, usually related to desirable events in person's life. Both can be equally taxing on the body, and are cumulative in nature, depending on a person's way of adapting to a change that has caused it. Stress management is the need of the hour. However hard we try to go beyond a stress situation, life seems to find new ways of stressing us out and plaguing us with anxiety attacks. Moreover, be it our anxiety, mindbody exhaustion or our erring attitudes, we tend to overlook causes of stress and the conditions triggered by those. In such unsettling moments we often forget that stressors, if not escapable, are fairly manageable and treatable.

Stress, either quick or constant, can induce risky body-mind disorders. Immediate disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and muscle cramps can all result in chronic health problems. They may also affect our immune, cardiovascular and nervous systems and lead individuals to habitual addictions, which are inter-linked with stress.

Like "stress reactions", "relaxation responses" and stress management techniques are some of the body's important built-in response systems. As a relaxation response the body tries to get back balance in its homeostasis. Some hormones released during the 'fight or flight' situation prompt the body to replace the lost carbohydrates and fats, and restore the energy

level. The knotted nerves, tightened muscles and an exhausted mind crave for looseness. Unfortunately, today, we don't get relaxing and soothing situations without asking. To be relaxed we have to strive to create such situations.

This research is to carry out the study that how much stressed the employees of the banks are and how do their stress affect their work life, social life, output etc. so a sample of 14 to 15 employees are selected from all the three banks for the research of stress among them.

What is Stress? Stress refers to the strain from the conflict between our external environment and us, leading to emotional and physical pressure. In our fast paced world, it is impossible to live without stress, whether you are a student or a working adult. There is both positive and negative stress, depending on each individuals unique perception of the tension between the two forces. Not all stress is bad. For example, positive stress, also known as eustress, can help an individual to function at optimal effectiveness and efficiency. Hence, it is evident that some form of positive stress can add more color and vibrancy to our lives. The presence of a deadline, for example, can push us to make the most of our time and produce greater efficiency. It is important to keep this in mind, as stress management refers to using stress to our advantage, and not on eradicating the presence of stress in our lives. On the other hand, negative stress can result in mental and physical strain. The individual will experience symptoms such as tensions, headaches, irritability and in extreme cases, 4

heart palpitations. Hence, whilst some stress may be seen as a motivating force, it is important to manage stress levels so that it does not have an adverse impact on your health and relationships. Part of managing your stress levels include learning about how stress can affect you emotionally and physically, as well as how to identify if you are performing at your optimal stress level (OSL) or if you are experiencing negative stress. This knowledge will help you to identify when you need to take a break, or perhaps seek professional help. It is also your first step towards developing techniques to managing your stress levels. Modern day stresses can take the form of monetary needs, or emotional frictions. Competition at work and an increased workload can also cause greater levels of stress. How do you identify if you are suffering from excessive stress? Psychological symptoms commonly experienced include insomnia, headaches and an inability to focus. Physical symptoms take the form of heart palpitations, breathlessness, excessive sweating and stomachaches. What causes stress? There are many different causes of stress, and that which causes stress is also known as a stressor. Common lifestyle stressors include performance, threat, and bereavement stressors, to name a few. Performance stressors are triggered when an individual is placed in a situation where he feels a need to excel. This could be during performance appraisals, lunch with the boss, or giving a speech. Threat stressors are usually when the current situation poses a dangerous threat, such as an economic downturn, or from an accident. Lastly, bereavement stressors occur when there is a sense of loss such as the death of a loved one, or a prized possession. 5

Thus, there are various stressors, and even more varied methods and techniques of dealing with stress and turning it to our advantages. In order to do so, we must learn to tell when we have crossed the line from positive to negative stress. Good stress v/s Bad stress: Stress has often been misunderstood to be negative, with few people acknowledging the importance and usefulness of positive stress. In our everyday lives, stress is everywhere and definitely unavoidable; hence our emphasis should be on differentiating between what is good stress, and what is bad. This will help us to learn to cope with negative stress, and harness the power of positive stress to help us achieve more. Types of Stress There are 4 main categories of stress, namely eustress, distress, hyper stress and hypo stress. Negative stress can cause many physical and psychological problems, whilst positive stress can be very helpful for us. Heres how we differentiate between them. Eustress: this is a positive form of stress, which prepares your mind and body for the imminent challenges that it has perceived. Eustress is a natural physical reaction by your body which increases blood flow to your muscles, resulting in a higher heart rate. Athletes before a competition or perhaps a manager before a major presentation would do well with eustress, allowing them to derive the inspiration and strength that is needed. Distress We are familiar with this word, and know that it is a negative form of stress. This occurs when the mind and body is unable to cope with changes, and usually occurs when there are 6

deviations from the norm. They can be categorized into acute stress and chronic stress. Acute stress is intense, but does not last for long. On the other hand, chronic stress persists over a long period of time. Trigger events for distress can be a change in job scope or routine that the person is unable to handle or cope with. Hyper stress This is another form of negative stress that occurs when the individual is unable to cope with the workload. Examples include highly stressful jobs, which require longer working hours than the individual can handle. If you suspect that you are suffering from hyper stress, you are likely to have sudden emotional breakdowns over insignificant issues, the proverbial straws that broke the camels back. It is important for you to recognize that your body needs a break, or you may end up with severe and chronic physical and psychological reactions. Hypo stress Lastly, hypo stress occurs when a person has nothing to do with his time and feels constantly bored and unmotivated. This is due to an insufficient amount of stress; hence some stress is inevitable and helpful to us. Companies should avoid having workers who experience hypo stress as this will cause productivity and mindfulness to fall. If the job scope is boring and repetitive, it would be a good idea to implement some form of job rotation so that there is always something new to learn. The types of stress are named as eustress and distress. Distress is the most

commonly-referred to type of stress, having negative implications, whereas eustress is a positive form of stress, usually related to desirable events in person's life. Both can be

equally taxing on the body, and are cumulative in nature, depending on a person's way of adapting to a change that has caused it. Chronic Stress Chronic stress is stress that lasts a long time or occurs frequently. Chronic stress is potentially damaging. Symptoms of chronic stress can be:

upset stomach headache backache insomnia anxiety depression anger

In the most severe cases it can lead to panic attacks or a panic disorder. There are a variety of methods to control chronic stress, including exercise, healthy diet, stress management, relaxation techniques, adequate rest, and relaxing hobbies. Ensuring a healthy diet containing magnesium may help control or eliminate stress, in those individuals with lower levels of magnesium or those who have a magnesium deficiency. Chronic stress can also lead to a magnesium deficiency, which can be a factor in continued chronic stress, and a whole host of other negative medical conditions caused by a magnesium deficiency.

It has been discovered that there is a huge upsurge in the number of people who suffer from this condition. A very large number of these new cases suffer from insomnia. In a review of the scientific literature on the relationship between stress and disease, the authors found that stress plays a role in triggering or worsening depression and cardiovascular disease and in speeding the progression of HIV/AIDS. Compressive stress: Compressive stress is the stress applied to materials resulting in their compaction (decrease of volume). When a material is subjected to compressive stress, then this material is under compression. Usually, compressive stress applied to bars, columns, etc. leads to shortening. Loading a structural element or a specimen will increase the compressive stress until the reach of compressive strength. According to the properties of the material, failure will occur as yield for materials with ductile behavior (most metals, some soils and plastics) or as rupture for brittle behavior (geometries, cast iron, glass, etc). In long, slender structural elements -- such as columns or truss bars -- an increase of compressive force F leads to structural failure due to buckling at lower stress than the compressive strength. Compressive stress has stress units (force per unit area), usually with negative values to indicate the compaction. However in geotechnical engineering, compressive stress is represented with positive values.

Stress in Biological terms Stress is a biological term which refers to the consequences of the failure of a human or animal body to respond appropriately to emotional or physical threats to the organism, whether actual or imagined. It includes a state of alarm and adrenaline production, shortterm resistance as a coping mechanism, and exhaustion. It refers to the inability of a human or animal body to respond. Common stress symptoms include irritability, muscular tension, inability to concentrate and a variety of physical reactions, such as headaches and accelerated heart rate. The term "stress" was first used by the endocrinologist Hans Selye in the 1930s to identify physiological responses in laboratory animals. He later broadened and popularized the concept to include the perceptions and responses of humans trying to adapt to the challenges of everyday life. In Selye's terminology, "stress" refers to the reaction of the organism, and "stressor" to the perceived threat. Stress in certain circumstances may be experienced positively. Eustress, for example, can be an adaptive response prompting the activation of internal resources to meet challenges and achieve goals. The term is commonly used by laypersons in a metaphorical rather than literal or biological sense, as a catch-all for any perceived difficulties in life. It also became a euphemism, a way of referring to problems and eliciting sympathy without being explicitly confessional, just "stressed out". It covers a huge range of phenomena from mild irritation to the kind of severe problems that might result in a real breakdown of health. In popular usage almost any event or situation between these extremes could be described as stressful.

10

The types of stress are as follows: Mechanical

Stress (physics), the average amount of force exerted per unit area. Yield stress, the stress at which a material begins to deform plastically. Compressive stress, the stress applied to materials resulting in their compaction.

Biological

Stress (biological), physiological or psychological stress; some types include:

o

Chronic stress, persistent stress which can lead to illness and mental disorder

o o

Eustress, positive stress that can lead to improved long-term functioning Workplace stress, stress caused by employment

Music

Accent (music). Stress (band), an early '80s melodic rock band from San Diego. Stress (punk band), an early '80s punk rock band from Athens. Stress (Neo-Psychedelic band), from the late 1980's. Stress, a song by the French band Justice on their debut album

Other

Stress (game), card game Stress (linguistics), phonological use of prominence in language

Coping with Stress at Work place

11

With the rapid advancement of technology, the stresses faced at work have also increased. Many people dread going to work, hence the term Monday Blues. What is the reason for this? There is partly the fear from being retrenched in bad times, leading to greater job insecurity on the part of those who remain. Undoubtedly, occupational stress is one of the most commonly cited stressors faced by people all over the world. Stress refers to the pressure and reactions to our environment which results in psychological and physical reactions. Whilst some stress is good for motivation and increasing efficiency, too much stress can result in negative impacts such as reduced effectiveness and efficiency. More and more people are feeling isolated and disrespected at work, and this has led to greater occupational stress. Many companies have taken to consulting experts and professionals on ways to increase connectedness and motivation of their employees. Some companies organize parties and make their employees feel valued at work. These are measures to motivate employees and help them to feel secure at their jobs, translating into greater productivity. However, not all companies have such measures in place, and some have not gotten it quite right. Hence, it is up to you to make sure that you can cope with stress at your workplace, and use it to help you work better. Here are 3 simple steps to help you with coping with stress in the workplace. Step 1: Raising Awareness Help yourself to identify when you are facing rising levels of stress, tipping the scales from positive to negative. This is important, as being able to identify signs of being stressed can help you to take steps to ensure that your overall quality of life does not drop. If left

12

unacknowledged, the problem will only snowball, leading to disastrous consequences to your health and overall wellbeing. You can identify if you are feeling stressed by checking if you have any physical or psychological reactions, such as excessive sweating or heart palpitations, or the onset of headaches, irritability or the need to escape. If you experience any of these reactions, identify if you are feeling any overwhelming negative emotions, and if you are constantly worried. Step 2: Identify the Cause You need to be able to analyze the situation and identify what is causing the rise in stress. These stressors can be external and internal. External stressors refer to things beyond your control, such as the environment or your colleagues at work. Internal stressors refer to your own thinking and attitude. Often, we only start reacting to stress when a combination of stressors working together exceeds our ability to cope. Keep a diary or a list of events that have caused you to feel strong negative emotions, or that are likely stressors. This will help you to identify the causes of your stress. Whilst it is not always possible to eradicate them, we can change the way that we cope with it. Step 3: Coping with Stress In order to deal with the situation that is causing you stress, you need to calm your mind and body so as to stave off the reactions and cope with it in a positive way. This can be through different methods, such as taking time off. If a situation is triggering your stress and you are unable to calm down, remove yourself from it. Go outside and take a walk to calm down. Alternatively, you can try implementing relaxation techniques such as deep 13

breathing. If it is an internal stressor, stop your thought process until you are able to deal with it logically. The key to making these 3 steps work for you is to practice them. These are not instantaneous solutions, and you need to condition your mind and practice them so that you can implement it when you are feeling stressed. Stress Management Stress management is the need of the hour. However hard we try to go beyond a stress situation, life seems to find new ways of stressing us out and plaguing us with anxiety attacks. Moreover, be it our anxiety, mind-body exhaustion or our erring attitudes, we tend to overlook causes of stress and the conditions triggered by those. In such unsettling moments we often forget that stressors, if not escapable, are fairly manageable and treatable.

Stress, either quick or constant, can induce risky body-mind disorders. Immediate disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and muscle cramps can all result in chronic health problems. They may also affect our immune, cardiovascular and nervous systems and lead individuals to habitual addictions, which are inter-linked with stress. Like "stress reactions", "relaxation responses" and stress management techniques are some of the body's important built-in response systems. As a relaxation response the body tries to get back balance in its homeostasis. Some hormones released during the 'fight or flight' situation prompt the body to replace the lost carbohydrates and fats, and restore the energy level. The knotted nerves, tightened muscles and an exhausted

14

mind crave for looseness. Unfortunately, today, we don't get relaxing and soothing situations without asking. To be relaxed we have to strive to create such situations. Recognizing a stressor: It is important to recognize whether you are under stress or out of it. Many times, even if we are under the influence of a stressful condition and our body reacts to it internally as well as externally, we fail to realize that we are reacting under stress. This also happens when the causes of stress are there long enough for us to get habituated to them. The body constantly tries to tell us through symptoms such as rapid palpitation, dizzy spells, tight muscles or various body aches that something is wrong. It is important to remain attentive to such symptoms and to learn to cope with the situations. We cope better with stressful situation, when we encounter them voluntarily. In cases of relocation, promotion or layoff, adventurous sports or having a baby, we tend to respond positively under stress. But, when we are compelled into such situations against our will or knowledge, more often than not, we wilt at the face of unknown and imagined threats. For instance, stress may mount when one is coerced into undertaking some work against one's will.

Laughter: Adopting a humorous view towards life's situations can take the edge off everyday stressors. Not being too serious or in a constant alert mode helps maintain the equanimity of mind and promote clear thinking. Being able to laugh stress away is the smartest way to ward off its effects. A sense of humor also allows us to perceive and appreciate the incongruities of life and provides moments of delight. The emotions we experience directly affect our immune

15

system. The positive emotions can create neurochemical changes that buffer the immunosuppressive effects of stress. During stress, the adrenal gland releases corticosteroids, which are converted to cortical in the blood stream. These have an immunosuppressive effect. Dr. Lee Berk and fellow researcher Dr. Stanley Tan at Loma Linda University School of Medicine have produced carefully controlled studies showing that the experience of laughter lowers serum cortical levels, increases the amount and activity of T lymphocytesthe natural killer cells. Laughter also increases the number of T cells that have suppresser receptors. How to Reduce Stress 1. Job analysis: - We have all experienced that appalling sense of having far too much work to do and too little time to do it in. We can choose to ignore this, and work unreasonably long hours to stay on top of our workload. The risks here are that we become exhausted, that we have so much to do that we do a poor quality job and that we neglect other areas of our life. Each of these can lead to intense stress. The alternative is to work more intelligently, by focusing on the things that are important for job success and reducing the time we spend on low priority tasks. Job Analysis is the first step in doing this. The first of the action-oriented skills that we look at is Job Analysis. Job Analysis is a key technique for managing job overload an important source of stress. To do an excellent job, you need to fully understand what is expected of you. While this may seem obvious, in the hurly-burly of a new, fast-moving, high-pressure role, it is oftentimes something that is easy to overlook. By understanding the priorities in your job, and what constitutes success within it, you can focus on these activities and minimize work on other tasks as much as possible. This helps you get the greatest return from the work you do, and keep your workload under control.

16

Job Analysis is a useful technique for getting a firm grip on what really is important in your job so that you are able to perform excellently. It helps you to cut through clutter and distraction to get to the heart of what you need to do. 2. Rational & positive thinking: You are thinking negatively when you fear the future, put yourself down, criticize yourself for errors, doubt your abilities, or expect failure. Negative thinking damages confidence, harms performance and paralyzes mental skills. Unfortunately, negative thoughts tend to flit into our consciousness, do their damage and flit back out again, with their significance having barely been noticed. Since we barely realize that they were there, we do not challenge them properly, which means that they can be completely incorrect and wrong. Thought Awareness is the process by which you observe your thoughts and become aware of what is going through your head. One approach to it is to observe your "stream of consciousness" as you think about the thing you're trying to achieve which is stressful. Do not suppress any thoughts. Instead, just let them run their course while you watch them, and write them down on our free worksheet as they occur. Then let them go.

Another more general approach to Thought Awareness comes with logging stress in your Stress Diary. When you analyze your diary at the end of the period, you should be able to see the most common and the most damaging thoughts. Tackle these as a priority using the techniques below. Here are some typical negative thoughts you might experience when preparing to give a major presentation:

17

Fear about the quality of your performance or of problems that may interfere with it;

Worry about how the audience (especially important people in it like your boss) or the press may react to you;

Dwelling on the negative consequences of a poor performance; or Self-criticism over a less-than-perfect rehearsal.

Thought awareness is the first step in the process of managing negative thoughts, as you cannot manage thoughts that you are unaware of. What is counselling ? Counselling is a process that enables a person to sort out issues and reach decisions affecting their life. Often counselling is sought out at times of change or crisis, it need not be so, however, as counselling can also help us at any time of our life. Counselling involves talking with a person in a way that helps that person solve a problem or helps to create conditions that will cause the person to understand and/or improve his behaviour, character, values or life circumstances.

Rational Thinking The next step in dealing with negative thinking is to challenge the negative thoughts that you identified using the Thought Awareness technique. Look at every thought you wrote down and challenge it rationally. Ask yourself whether the thought is reasonable. What evidence is there for and against the thought? Would your colleagues and mentors agree or disagree with it?

18

Looking at the examples, the following challenges could be made to the negative thoughts we identified earlier:

Feelings of inadequacy: Have you trained yourself as well as you reasonably should have? Do you have the experience and resources you need to make the presentation? Have you planned, prepared and rehearsed enough? If you have done all of these, you've done as much as you can to give a good performance.

Worries about performance during rehearsal: If some of your practice was less than perfect, then remind yourself that the purpose of the practice is to identify areas for improvement, so that these can be sorted out before the performance.

Problems with issues outside your control: Have you identified the risks of these things happening, and have you taken steps to reduce the likelihood of them happening or their impact if they do? What will you do if they occur? And what do you need others to do for you?

Worry about other people's reactions: If you have prepared well, and you do the best you can, then you should be satisfied. If you perform as well as you reasonably can, then fair people are likely to respond well. If people are not fair, the best thing to do is ignore their comments and rise above them.

Tip: Don't make the mistake of generalizing a single incident. OK, you made a mistake at work, but that doesn't mean you're bad at your job. Similarly, make sure you take the long view about incidents that you're finding stressful. Just because you're finding these new responsibilities stressful now, doesn't mean that they will ALWAYS be so for you in the future.

19

Tip: If you find it difficult to look at your negative thoughts objectively, imagine that you are your best friend or a respected coach or mentor. Look at the list of negative thoughts and imagine the negative thoughts were written by someone you were giving objective advice to. Then, think how you would challenge these thoughts. When you challenge negative thoughts rationally, you should be able to see quickly whether the thoughts are wrong or whether they have some substance to them. Where there is some substance, take appropriate action. However, make sure that your negative thoughts are genuinely important to achieving your goals, and don't just reflect a lack of experience, which everyone has to go through at some stage. Positive Thinking & Opportunity Seeking By now, you should already be feeling more positive. The final step is to prepare rational, positive thoughts and affirmations to counter any remaining negativity. It can also be useful to look at the situation and see if there are any useful opportunities that are offered by it. By basing your affirmations on the clear, rational assessments of facts that you made using Rational Thinking, you can use them to undo the damage that negative thinking may have done to your self-confidence. Tip: Your affirmations will be strongest if they are specific, are expressed in the present tense and have strong emotional content. Continuing the examples above, positive affirmations might be:

20

Problems during practice: "I have learned from my rehearsals. This has put me in a position where I can deliver a great performance. I am going to perform well and enjoy the event."

Worries about performance: "I have prepared well and rehearsed thoroughly. I am well positioned to give an excellent performance."

Problems issues outside your control: "I have thought through everything that might reasonably happen and have planned how I can handle all likely contingencies. I am very well placed to react flexibly to events."

Worry about other people's reaction: "Fair people will react well to a good performance. I will rise above any unfair criticism in a mature and professional way."

If appropriate, write these affirmations down on your worksheet so that you can use them when you need them. As well as allowing you to structure useful affirmations, part of Positive Thinking is to look at opportunities that the situation might offer to you. In the examples above, successfully overcoming the situations causing the original negative thinking will open up opportunities. You will acquire new skills, you will be seen as someone who can handle difficult challenges, and you may open up new career opportunities. Make sure that identifying these opportunities and focusing on them is part of your positive thinking.

What Laughter Can Do Against Stress And Its Effects?

21

 Laughter lowers blood pressure and reduces hypertension. It provides good cardiac conditioning especially for those who are unable to perform physical exercise. Reduces stress hormones (studies shows, laughter induces reduction of at least four of neuroendocrine hormonesepinephrine, cortical, dopac, and growth hormone, associated with stress response). Laughter cleanses the lungs and body tissues of accumulated stale air as it empties more air than it takes in. It is beneficial for patients suffering from emphysema and other respiratory ailments. It increases muscle flexion, relaxation and fluent blood circulation in body. Boosts immune function by raising levels of infection-fighting T-cells, disease-fighting proteins called Gamma-interferon and disease-destroying antibodies called B-cells. Laughter triggers the release of endorphinsbody's natural painkillers. Produces a general sense of well-being. Workplace Stress Workplace stress is the harmful physical and emotional response that occurs when there is a poor match between job demands and the capabilities, resources, or needs of the worker. Stress-related disorders encompass a broad array of conditions, including psychological disorders (e.g., depression, anxiety, post-traumatic stress disorder) and other types of emotional strain (e.g., dissatisfaction, fatigue, tension, etc.), maladaptive behaviors (e.g., aggression, substance abuse), and cognitive impairment (e.g., concentration and memory problems). In turn, these conditions may lead to poor work performance or even injury. Job stress is also associated with various biological reactions that may lead ultimately to compromised health, such as cardiovascular disease.

22

Stress is a prevalent and costly problem in today's workplace. About one-third of workers report high levels of stress. One-quarter of employees view their jobs as the number one stressor in their lives. Three-quarters of employees believe the worker has more on-the-job stress than a generation ago. Evidence also suggests that stress is the major cause of turnover in organizations. Health and Healthcare Utilization Problems at work are more strongly associated with health complaints than are any other life stressor-more so than even financial problems or family problems. Many studies suggest that psychologically demanding jobs that allow employees little control over the work process increase the risk of cardiovascular disease. On the basis of research by the National Institute for Occupational Safety and Health and many other organizations, it is widely believed that job stress increases the risk for development of back and upperextremity musculoskeletal disorders. High levels of stress are associated with substantial increases in health service utilization. Workers who report experiencing stress at work also show excessive health care utilization. In a 1998 study of 46,000 workers, health care costs were nearly 50% greater for workers reporting high levels of stress in comparison to low risk workers. The increment rose to nearly 150%, an increase of more than $1,700 per person annually, for workers reporting high levels of both stress and depression. Additionally, periods of disability due to job stress tend to be much longer than disability periods for other occupational injuries and illnesses. Causes of Workplace Stress Job stress results from the interaction of the worker and the conditions of work. Views differ on the importance of worker characteristics versus working conditions as the primary 23

cause of job stress. The differing viewpoints suggest different ways to prevent stress at work. According to one school of thought, differences in individual characteristics such as personality and coping skills are most important in predicting whether certain job conditions will result in stress-in other words, what is stressful for one person may not be a problem for someone else. This viewpoint leads to prevention strategies that focus on workers and ways to help them cope with demanding job conditions. Although the importance of individual differences cannot be ignored, scientific evidence suggests that certain working conditions are stressful to most people. Such evidence argues for a greater emphasis on working conditions as the key source of job stress, and for job redesign as a primary prevention strategy. Personal interview surveys of working conditions, including conditions recognized as risk factors for job stress, were conducted in Member States of the European Union in 1990, 1995, and 2000. Results showed a trend across these periods suggestive of increasing work intensity. In 1990, the percentage of workers reporting that they worked at high speeds at least one-fourth of their working time was 48%, increasing to 54% in 1995 and to 56% in 2000. Similarly, 50% of workers reported they work against tight deadlines at least one-fourth of their working time in 1990, increasing to 56% in 1995 and 60 % in 2000. However, no change was noted in the period 19952000 (data not collected in 1990) in the percentage of workers reporting sufficient time to complete tasks. A substantial percentage of Americans work very long hours. By one estimate, more than 26% of men and more than 11% of women worked 50 hours per week or more in 2000. These figures represent a considerable increase over the previous three decades, especially for women. According to the Department of Labor, there has been an upward trend in hours worked among employed women, an increase in extended work weeks (>40 hours) by men, and a considerable increase in combined working hours among working couples, particularly couples with young children.

24

Signs of Workplace Stress Mood and sleep disturbances, upset stomach and headache, and disturbed relationships with family; friends and girlfriends or boyfriends are examples of stress-related problems. The effects of job stress on chronic diseases are more difficult to see because chronic diseases take a long time to develop and can be influenced by many factors other than stress. Nonetheless, evidence is rapidly accumulating to suggest that stress plays an important role in several types of chronic health problems-especially cardiovascular disease, musculoskeletal disorders, and psychological disorders. Prevention A combination of organizational change and stress management is often the most useful approach for preventing stress at work. How to Change the Organization to Prevent Job Stress

Ensure that the workload is in line with workers' capabilities and resources. Design jobs to provide meaning, stimulation, and opportunities for workers to use their skills.

Clearly define workers' roles and responsibilities. Give workers opportunities to participate in decisions and actions affecting their jobs.

Improve communications-reduce uncertainty about career development and future employment prospects.

Provide opportunities for social interaction among workers. Establish work schedules that are compatible with demands and responsibilities outside the job. 25

Causes of Stress

Stressors can be divided into those that arise from within an individual (internal), and those that are attributable to the environment (external). Internal conflicts, nonspecific fears, fears of inadequacy, and guilt feelings are examples of stressors that do not depend on the environment. Internal sources of stress can arise from an individual's perceptions of an environmental threat, even if no such danger actually exists. Environmental stressors are external conditions beyond an individual's control. Bhagat (1983) has reported that work performance can be seriously impaired by external stressors. There are many aspects of organizational life that can become external stressors. These include issues of structure, management's use of authority, monotony, a lack of opportunity for advancement, excessive responsibilities, ambiguous demands, value conflicts, and unrealistic work loads. A person's non-working life (e.g., family, friends, health, and financial situations) can also contain stressors that negatively impact job performance.

Albrecht (1979) argues that nearly all stressors are emotionally induced. These are based on peoples' expectations, or ". . . the belief that something terrible is about to happen." (p. 83) Thus, emotionally induced stress arises from one's imagination. Albrecht believes that our society's number one health problem is anxiety, and that emotionally induced stress can be classified into four categories: 1) time stress, 2) anticipatory stress, 3) situational stress, and 4) encounter stress. Time stress is always created by a real or imaginary deadline. Anticipatory stress is created when a person perceives that an upcoming event will be unpleasant. Situational stress can occur when a person is in an unpleasant situation, and they worry about what will happen next. Encounter stress is created by contact with other people (both pleasant and unpleasant). 26

Many situations in organizational life can be stressful. These include: 1) problems with the physical environment, such as poor lighting or excessive nose, 2) problems with the quality of work such, as lack of diversity, an excessive pace, or too little work, 3) role ambiguities or conflicts in responsibilities, 4) relationships with supervisors, peers, and subordinates, and 5) career development stressors, such as lack of job security, perceived obsolescence, and inadequate advancement.

Adverse working conditions, such as excessive noise, extreme temperatures, or overcrowding, can be a source of job-related stress. (McGrath, 1978). Reitz (1987) reports that workers on "swing shifts" experience more stress than other workers. Orth-Gomer (1986) concludes that when three shifts are used to provide aroundthe-clock production, major disturbances in people may be unavoidable. One source of environmental stress ignored in the organizational literature is non-natural electromagnetic radiation. Becker (1990) reports that the two most prominent effects of electromagnetic radiation are stress and cancers. Modern offices are filled with electronic devices that produce high levels of radiation. These include computers, video monitors, typewriters, fluorescent lights, clocks, copying machines, faxes, electric pencil sharpeners, and a host of other electronic devices. Human sensitivity to electomagnetic fields is well-documented, and the design of future office equipment will most likely involve a consideration of emitted radiation.

Arnold and Feldman (1986) emphasize the deleterious effects of role ambiguity, conflict, overload and underload. Role ambiguity is often the result of mergers, acquisitions and restructuring, where employees are unsure of their new job responsibilities. Role conflict has been categorized into two types: intersender and 27

intrasender. (Kahn, et al., 1964) Intersender role conflict can occur when worker's perceive that two different sources are generating incompatible demands or expectations. Intrasender role conflict can arise when worker's perceive conflicting demands from the same source. Overload is frequently created by excessive time pressures, where stress increases as a deadline approaches, and then rapidly subsides. Underload is the result of an insufficient quantity, or an inadequate variety of work. Both overload and underload can result in low self-esteem and stress related symptoms, however, underload has also been associated with passivity and general feelings of apathy. (Katz and Kahn, 1978)

Poor interpersonal relationships are also a common source of stress in organizations. Arnold and Feldman (1986) cite three types of interpersonal relationships that can evoke a stress reaction: 1) too much prolonged contact with other people, 2) too much contact with people from other departments, and 3) an unfriendly or hostile organizational climate.

Personal factors are often a source of stress. These include career related concerns, such as job security and advancement, as well as financial and family concerns. Holmes and Rahe (1967) constructed a scale of forty-three life events, and rated them according to the amount of stress they produce. The most notable feature of their instrument is that many positive life changes (i.e., marriage, Christmas, vacations, etc.) are substantial sources of stress. Generally, stress appears to be a result of any change in one's daily routine.

French, Kast, and Rosenzweig (1985) believe that any situation that requires a behavioral adjustment is a source of stress. However, a situation that is stressful for one person might not be stressful for another. Older workers seem to be less 28

strongly affected by stressful situations. (Parasuraman and Alutto, 1984) Individuals with high self-esteem and a tolerance for ambiguity are less prone to stress-related illnesses. (Arnold and Feldman, 1986). There is also considerable evidence that a person's susceptibility to stress is dependent on their personality types. Type A personalities (those that seek out fast-paced, challenging situations) often react to stress with hostility and anger, while Type B personalities seem to be have an immunity to the same stressors (Albrecht, 1979; Friedman and Rosenman, 1974; Matthews, 1982; Organ, 1979).

Several studies have found that individual's who believe they have control over their own fate (internals), perceive less stress in their work than those who believe their future is determined by other factors (externals). Genmill and Heisler (1972) reported that "internals" had more job satisfaction and perceived their jobs as less stressful than "externals". They also found that a managers perceived stress was unrelated to education, length of time in their career, or their level in the hierarchy. Another study looked at managers of businesses in a community that had recently been destroyed by a hurricane. (Anderson, Hellriegel, and Slocum, 1977). These researchers found that "internals" experienced less stress from the catastrophe, and that their perceived locus of control was a more important factor than their insurance coverage, the amount of the loss, or the duration that the company was out of business. Lawless (1992) reports that ". . . job stress is a consequence of two key ingredients: a high level of job demands and little control over one's work." (p. 4)

Some studies have reported that males seem to be more prone to stress-related illness than females. Men report more ulcers and have a higher rate of heart attacks 29

than women (Albrecht, 1979). Other studies have found no differences. Friedman and Rosenman (1974) found that Type A women suffered from cardiovascular diseases and heart attacks as often as their male counterparts. Women in managerial positions suffer heart attacks at the same rate as men in similar positions. (Albrecht, 1979) In a recent study, Lawless (1992) reported that women suffered fifteen percent more stress related illnesses than men. They also thought about quitting their jobs more often, and reported a higher incidence of burnout. Lawless proposed that this is the result of unequal pay scales and a failure of organizations to adopt policies sensitive to family issues. As more women enter the work force, the effects on their health are becoming increasingly apparent. It may be that past differences between males and females are the result of their experience in the work force, and unrelated to gender per se.

Lawless (1991) identified the five most common causes of worker stress: 1) too much rigidity in how to do a job, 2) substantial cuts in employee benefits, 3) a merger, acquisition, or change of ownership, 4) requiring frequent overtime, and 5) reducing the size of the work force. Over forty percent of the work force experienced one or more stress-related illnesses as a result of these five stressors. Single or divorced employees, union employees, women, and hourly workers reported greater stress levels, and a higher likelihood of "burning out". (p.6-8) In a follow-up study, Lawless (1992) found similar results except that there was no significant difference between married and unmarried workers. However single women with children were more likely to burn out than married women with children. "Single parenthood compounds the stress women face in juggling work and child care responsibilities, especially when overtime hours are required." (p. 11)

30

The current recession is, to some degree, responsible for increased stress in America's work force. "Private sector workers feel more pressure to prove their value because of the recession." (Lawless, 1992, p. 6) Nearly half of all workers and supervisors blame the recession for higher stress levels and lower productivity. Both are being asked to achieve higher goals with a reduced work force. Supervisors reported slightly more stress than workers, however, they were no more likely to experience job burn out. Lawless proposed that supervisors' higher salaries and more having more control over their jobs, partially counteracted the negative effects of stress. Employees who earned less than $25,000 reported less stress, but they were more likely to burn out because they had less control over their work. Over half of the college graduates in this income category reported feeling burned out.

Managing Stress

Mangers of organizations have a dual perspective of stress. They need to be aware of their own stress levels, as well as those of their subordinates. Most of the literature focuses on ways of reducing stress. However, a more appropriate approach might be to examine ways of optimizing stress. French, Kast, and Rosenzweig (1985) state that the challenge is to minimize distress and maintain eustress. They point out that the conditions of organizational life create a series of paradoxes, that demonstrate the need for balance and equilibrium.

1. Uncertainty can lead to distress, but so can certainty or overcontrol. 2. Pressure can lead to distress, but so can limbo or lack of contact.

31

3. Responsibility can lead to distress, but so can lack of responsibility or insignificance.

4. Performance evaluation can lead to distress, but so can lack of feedback concerning performance.

5. Role ambiguity can lead to distress, but so can job descriptions that constrain individuality. (p. 708)

The role of management becomes one of maintaining an appropriate level of stress by providing an optimal environment, and "by doing a good job in areas such as performance planning, role analysis, work redesign/job enrichment, continuing feedback, ecological considerations, and interpersonal skills training." (p. 709)

There are essentially three strategies for dealing with stress in organizations (Jick and Payne, 1980): 1) treat the symptoms, 2) change the person, and 3) remove the cause of the stress. When a person is already suffering from the effects of stress, the first priority is to treat the symptoms. This includes both the identification of those suffering from excessive stress, as well as providing health-care and psychological counseling services. The second approach is to help individuals build stress management skills to make them less vulnerable to its effects. Examples would be teaching employees time management and relaxation techniques, or suggesting changes to one's diet or exercise. The third approach is to eliminate or reduce the environmental situation that is creating the stress. This would involve reducing environmental stressors such as noise and pollution, or modifying production schedules and work-loads.

32

Many modern organizations view the management of stress as a personal matter. An effort to monitor employee stress levels would be considered an invasion of privacy. However, Lawless (1991) found that nine out of ten employees felt that it was the employers responsibility to reduce worker stress and provide a health plan that covers stress illnesses. She emphasized that "employees have no doubt that stress-related illnesses and disability should be taken seriously. Employees expect substantive action by their employer and hold their employer financially responsible for the consequences of job stress." (p. 12)

Lawless (1991) reported that four different employer programs were effective in reducing job burn out, where the percent of people reporting burn out was reduced by half. Furthermore, when these programs were offered, there were also half as many stress related illnesses. They are: 1) supportive work and family policies, 2) effective management communication, 3) health insurance coverage for mental illness and chemical dependency, and 4) flexible scheduling of work hours. This study also reported that the success rate for treating stress related disabilities was considerably less than the average for all disabilities, and that the average cost to treat stress related conditions was $1,925 (both successful and unsuccessful).

Managers can take active steps to minimize undesirable stress in themselves and their subordinates. Williams and Huber (1986) suggest five managerial actions that can be used to reduce stress in workers.

1. Clarifying task assignments, responsibility, authority, and criteria for performance evaluation.

2. Introducing consideration for people into one's leadership style. 33

3. Delegating more effectively and increasing individual autonomy where the situation warrants it.

4. Clarifying goals and decision criteria. 5. Setting and enforcing policies for mandatory vacations and reasonable working hours. (p. 252)

Establishing one's priorities (i.e., value clarification) is an important step in the reduction of stress. The demands of many managerial positions cause the neglect of other areas of one's life, such as family, friends, recreation, and religion. This neglect creates stress, which in turn affects job performance and health. Value clarification is linked to time management, since we generally allocate our time according to our priorities. By setting personal priorities, managers and subordinates can reduce this source of stress. It is typically the first step in any stress reduction program.

Many sources of stress in organizations cannot be changed. These might include situations like a prolonged recessionary period, new competitors, or an unanticipated crisis. Organizational members generally have little control over these kinds of stressors, and they can create extended periods of high-stress situations. People who adjust to these stressors generally use a form of perceptual adaptation, where they modify the way in which they perceive the situation.

Other sources of stress in organizations can be changed. One particularly effective way for managers to minimize employee stress is to clarify ambiguities, such as job assignments and responsibilities. (Arnold and Feldman, 1986) Employee stress is directly related to the amount of uncertainty in their tasks, expectations, and roles. 34

Managers can encourage employees to search for more information when they are given unfamiliar tasks, or when they are uncertain of their roles. Another way to reduce employee stress is to incorporate time management techniques, as well as setting realistic time schedules for the completion of projects.

There are many other successful ways of dealing with stress. These include stress reduction workshops, tranquilizers, biofeedback, meditation, self-hypnosis, and a variety of other techniques designed to relax an individual. Programs that teach tolerance for ambiguity often report positive effects. One of the most promising is a health maintenance program that stresses the necessity of proper diet, exercise and sleep.

Social support systems seem to be extremely effective in preventing or relieving the deleterious effects of stress. Friends and family can provide a nurturing environment that builds self-esteem, and makes one less susceptible to stress. One study found that government white-collar workers who received support from their supervisors, peers, and subordinates experienced fewer physical symptoms of stress. (Katz and Kahn, 1978) Managers can create nurturing and supportive environments to help minimize job-related stress.

Albrecht (1979) hypothesized that there are eight relatively "universal" factors that come into play when evaluating the balance between stress and reward (job satisfaction) in organizations. These are: 1) workload, 2) physical variables, 3) job status, 4) accountability, 5) task variety, 6) human contact, 7) physical challenge, and 8) mental challenge. Each individual has a "comfort zone" for the eight factors. The goal of management is to find the "comfort zone" for each employee that results in optimal performance without producing undesirable side effects. 35

Albrecht's taxonomy is important because it recognizes the necessity of balance. For example, Taylorism stresses the ideas of maximum output, minimal task variety, and continuous supervision. The predicted effect of these imbalances would be stress and a reduction in job satisfaction. Perhaps many of today's organizational problems with worker stress are the result of the effective application of Taylorism.

The social climate of an organization is often viewed as a cause of stress. However, social climate is a relativistic concept, and "the social climate of an organization is whatever most of the people think it is." (Albrecht, 1979, p. 167) There are three factors that need to be examined when evaluating social climate. The first is the degree to which employees identify with or alienate themselves from the organization. Employee attitude surveys are an effective method of measuring this factor. Identification can be measured through employees pride in membership, and the extent to which they take initiative and offer constructive suggestions. Alienation can be detected by examining whether members openly criticize the organization, or the degree to which they oppose change. The second factor of organizational climate is the degree to which labor and management are polarized. One of the most effective ways of dealing with this problem is to make all levels of management more visible and accessible. Employees are less likely to criticize management who they see on a regular basis. The goal is to change to perception from "they" (the managers) to "we" (the members of the organization). The third factor is the perceived social norms of the organization. Social norms are abstract organizational values, such as trust, fairness, and respect. Interviews and questionnaires can be used to ascertain organizational social norms, but corrective action involves setting up management programs that clarify organizational values, and may involve replacing certain managers when necessary. 36

Quick and Quick (1984) suggest several diagnostic procedures for determining stress levels in organizations. Interviews allow in-depth probing, but they are time consuming and depend primarily on the listening skills of the interviewer. Questionnaires have the advantage of being able to process higher volumes of data, but they often lose the "flavor" or feel of the responses. Observational techniques (both medical and behavioral) can be either quantitative or qualitative. Quantitative techniques might involve gathering company records, such as the rates of absenteeism, tardiness, turnover, and production. Qualitative techniques involve observing workers for signs of stress-related behavior.

Job engineering and job redesign are recent concepts that attempt to minimize jobrelated stress. Job engineering takes into account the values and needs of the worker, as well as the production objectives of the organization. (Albrecht, 1979) It involves a six-step cyclical process, beginning with defining the job objectives. This initial step makes statements about "accomplishing something of recognized value." (p. 159) The second step is to define the job conditions. This step specifies the physical, social, and psychological characteristics of the job. The third step is to define the job processes, equipment, and materials. Processes are often presented in a flow chart to show the sequence of operations. The fourth step is to re-evaluate the design from the perspective of the worker, the goal being to achieve a balance between job satisfaction and performance. The fifth step is to test the job design. Employees often experience problems not anticipated by job engineers. The evaluation should look at the "total combination of person, equipment, materials, processes, and surroundings as an integrated whole, and you must measure both productivity and employee satisfaction before you can say the job is well designed." (p. 162) The sixth step involves the ongoing re-evaluation and redesign of the job. 37

Employee attitudes and values change, and new technology provides alternatives to the status quo. Job engineering attempts to be sensitive to these changes, and to modify job descriptions as necessary.

Sevelius (1986) describes his experience implementing a wellness education program at a large manufacturing plant. Several successful techniques were used. Booklets on specific health subjects were place in "Take one" bins conveniently located around the plant. Campaigns were undertaken to highlight the specific themes in the booklets. Group lectures were tried and found to be ineffective because less than ten percent of the employees attended them. In addition, the lectures were video taped, but employees did not take the time to view them.

Stress and Scenario Testing: Banks Must Do Better The financial crisis has revealed all too starkly the vulnerability of banks to severe market shocks. The stress and scenario testing previously performed has been heavily criticised, but it is recognised as an important area for bank management to address with more robustness in the future. This article considers the thinking of regulators, and the UK's Financial Service Authority in particular, on the subject. The difficulties in the financial markets have continued to an extent that nobody foresaw, or arguably could have foreseen. Governments and monetary authorities globally have taken critical action to try to prevent the collapse of their financial systems.

38

The quality of the governance in many firms has been questionable. Regulators are considering the actions that they will need to take to create an environment where confidence may be restored. More intrusive regulation is the inevitable repercussion of this, as described in The Turner Review. As Hector Sants has said, banks should be "very frightened" of their regulator. While the current crisis is unprecedented in modern times, it is true that many banks might have been better prepared had they subjected their business models to severe stress and scenario testing. While some may claim that this was indeed the case, it would be interesting to know whether there were any who felt that they would have to raise more capital as a consequence. This article focuses on the key areas of stress and scenario testing, on which the UK's Financial Services Authority (FSA) published a Consultation Paper (CP08/24) in December 2008. The concept of stress and scenario testing is not new. Some banks have indeed recognised the benefits of better understanding the resilience of their business. This has been reinforced by regulators through the need to stress test their portfolios as part of the Internal Capital Adequacy Assessment Process (ICAAP). However, the FSA has concluded that in its experience "...for many firms, stress and scenario testing is not as robust, nor as embedded in senior management decision-making, as we would like." Stress and Scenario Testing Stress and scenario testing is the analytical process involved in subjecting a bank's portfolios to a series of tests in order to assess their potential vulnerability to exceptional yet plausible events. They are intended to establish whether a bank has enough capital to absorb losses in a recession. They enable banks to obtain a better understanding of 39

portfolio risk and make potential losses clear. Stress testing is an effective and necessary tool that complements statistical models for quantifying and monitoring risk and capital adequacy. So what forms can stress testing can take? Real world scenarios from past experience are sometimes better to use, since buy-in can be more easily achieved from business leaders, who may more readily regard them as plausible. This risks, however, underestimating the impact of potential future crises as has been the experience recently. Equally, scenarios are rarely exactly repeated, since controls will have usually been implemented to attempt to prevent recurrence. Single factor tests are intended to show how portfolios react to changes in relevant economic variables (e.g. interest rate changes) or risk parameters. They can be performed rapidly and provide senior management with a 'quick and dirty' idea of the impact of a change in a financial variable. Scenario tests should be designed to consider the resilience of firms and the financial system to exceptional but plausible scenarios. They assess how the selected events might impact on the relevant risk factors in a firm's portfolio. Scenarios can be either event or portfolio driven.

Event-driven approaches identify risk sources that will cause changes in financial markets followed by an assessment of the extent to which risk parameters may change should such an event occur.

Portfolio-driven approaches start with an assessment of which parameter changes might result in a portfolio loss and assess what kind of events might bring about these changes.

40

Historical scenarios rely on significant past events and are based on actual data. They therefore tend to be more fully articulated and require less judgemental input. One drawback is that they may be less suited to the actual risk profile of the firm and may not adequately take account of recent advances in risk taking. Hypothetical scenarios will be based upon market events or macro-economic scenarios that have not yet occurred. They will be labour-intensive to construct, require judgement and specialist expertise. While historic data may be used to help devise the scenario, such an approach may lack support from the business due to the perceived artificial nature of the exercise. Arguably, however, the more widespread and effective use of hypothetical scenarios ahead of the current chaos may have prepared firms better to face the ensuing impacts. Hybrid scenarios have become more commonplace. They use historical market moves as inputs, but do not necessarily link to a specific historical crisis. They need to strike a balance between realism and comprehensibility to gain the serious engagement of the business in considering the potential impacts and mitigating action needed. Contagion takes into account the transmission of shocks from individual exposures or portfolios across a financial services group as a whole and potentially across the financial system. This is an area that financial institutions have often found difficult to assess in the past, but it is a risk that has crystallised alarmingly during the current market turbulence. Formulating Scenarios Designing scenarios that will prove useful to the business is not as straightforward as it may seem. While firms have clearly undertaken exercises as a result largely of regulatory necessity, there has been too often a reluctance to entertain scenarios that might upset the status quo. This is changing due to present circumstances and as a consequence of 41

supervisory insistence. Notwithstanding this, the construction of scenarios can often ignore some potentially key elements such as:

Time horizon - the near term is used most often while a longer time horizon may be more appropriate as some macro-economic impacts may take more than a year to filter through.

Unexpected illiquidity - many crises are characterised by an abrupt lack of liquidity in the markets. This element was not adequately addressed previously, but is now a key aspect of any meaningful test.

Lack of hedges - hedging instruments may be rendered invalid during stress events. Reliance on these in a time of crisis will probably project an over optimistic outcome.

Aggregation - the aggregation of the effects of stress tests performed at a risk type level raises issues regarding diversification benefits.

Correlation - levels that prevail in ordinary conditions may cease to exist under exceptional events.

Stress tests should be all encompassing and cover primarily credit risk, market risk and operational risk. Firms should also consider changes to portfolio concentration levels, reputational impact, and the effect on the availability of liquidity sources. Observations of the FSA Paper Rules and guidance on stress and scenario testing will be tightened and clarified. The main aspects are:

A 'reverse stress test' will be introduced. This is designed to consider scenarios most likely to cause banks' business models to become unviable. 42

Firms have been too optimistic in assessing the severity and impacts of adverse scenarios. In too many cases, this has been a simple desktop exercise designed to meet a regulatory requirement, which has ostensibly shown that existing capital levels were adequate.

Capital planning generally has been poor. There needs to be a more rigorous assessment of material risks and mitigating management actions.

Firms will be expected to review their stress and scenario testing arrangements immediately, and they should expect supervisors to challenge them.

Group risk will become a core Pillar 2 risk, which must be considered in the context of the ICAAP.

The key new elements are the reverse stress test and inclusion of group risk. Under reverse stress testing firms will be required to identify and assess the scenarios most likely to cause their current business plan to become unviable. The firm's plan should be considered to have reached this stage at the point where materialising risks cause the market to lose confidence in it. Recent experience suggests that this may be reached well before regulatory capital is exhausted. An underlying objective is to try to ensure that a firm may continue long enough to either restructure its business, or allow a more orderly wind-down or transfer. Recently there have been cases where there has been insufficient time for measured courses of action to be followed.

This requirement is intended to be holistic, so firms should consider liquidity risks as well as risks to their capital positions.

The likelihood or remoteness of such risks arising in practice should be assessed.

43

Firms are already expected to project their capital resources over three to five years and to estimate the financial resources needed to survive the impact of a cyclical downturn. Such a downturn may address a firm's predominant risks where the majority of its business is composed of non-trading book activities. However, firms are additionally expected to hold capital to withstand specified yield curve shifts where they are exposed to banking book interest rate risk, and more sudden, severe market events that may be particularly pertinent to trading book risks.

Senior management must be effectively engaged in the process, the outputs of which should assist in the formulation of business strategy, risk tolerances, capital and liquidity planning, risk mitigation strategies and contingency planning.

Reverse stress testing will need to be documented, and signed off by the Board. It may be reviewed by supervisors alongside the ICAAP as part of the Supervisory Review and Evaluation Process (SREP).

The FSA also observed:

Firms with strong governance and embedded risk assessment processes have fared better than others, suggesting that many management teams may have interpreted Basel 2 as a compliance exercise only. Risk management needs to be recognised as a value-adding activity and not just a barrier to business.

Stress and scenario testing generally has not kept pace with the changes in business models or the development of structured products with complex risks.

Firms have not adequately assessed contagion risk.

44

Firms need to perform stress testing at different levels (e.g. firm wide, business unit, business line, etc) and bring together top-down and bottom-up assessment in a coherent way. This has not generally been the case.

Liquidity stresses in one market can spread across multiple markets that can create strains on liquidity positions and also on capital positions. This can arise from pipeline transactions that cannot be distributed as planned in conditions of decreased demand, and from off-balance sheet exposures that are re-assumed. Such eventualities have not typically been considered.

Since firms made the implicit assumption that liquid markets would continue to exist, and contagion effects between firms and markets would not be material, their Pillar 2 stress testing was inadequate preparation for recent market events.

Firms have realised that their stress testing was not fit for purpose, since it was not designed for the type of extreme market events that occurred. There was too much reliance on recent historical data, and consequently the systemic nature of the crisis was not captured. Arguably firms believed that the current crisis was simply not a plausible event. Firms will need to devise a more hypothetical set of assumptions to assess how exposures may change in the light of unexpected shocks.

Stress tests presented in ICAAPs have not yet gone so far as to significantly challenge underlying business models.

Deficiencies were evident across the market, although it is fair to say that the extreme nature of what has occurred was probably not anticipated by anybody. The Institute of International Finance (IIF) has also made recommendations for stress testing which the FSA has supported. Stress testing should:

45

Be part of the management culture, with active senior management engagement.

Be consistently and comprehensively applied throughout the organisation. Be used to assess a firm's risk profile in relation to its risk appetite across all business activities, risk types and exposures.

Include challenging scenarios designed so that the likelihood of severe events is not consistently underestimated, and the firm's ability to manage crises effectively is not overestimated.

Not be seen as a perfect, single-metric solution. The outputs should be taken into account in decision-making, but they should be used thoughtfully and not mechanically.

There is willingness on the part of all stakeholders to address the shortcomings and to start the long and arduous task of starting to restore confidence to a system whose credibility has been shattered.

46

OBJECTIVE OF THE STUDY

47

OBJECTIVES OF THE STUDY

The main objective of my project report is as follows: To study the concept of Job stress. To study the cause which develop stress. To analyze the level of occupational stress among the organization. To study the various factors related to Stress management Strategies. To study the impact of stress on organisational goals.

48

SCOPE & IMPORTANCE

49

SCOPE & IMPORTANCE

SCOPE: This study examined relationships among job scope, perceived fit between job demands and ability, and stress. Data on scope and stress were provided by full-time employees. Ratings of job complexity from the Dictionary of Occupational Tiles (DOT) and the Occupational Prestige Index (OP) also measured job scope. All three job scope measured has a U-shaped curvilinear relationship with emotional exhaustion. Anxiety had a negative association with incumbent-reported job scope but none with the DOT and OP measures. Perceived demands-ability fit moderated the relationship between the DOT and OP measures and stress. People with complex jobs who perceived fit experienced less exhaustion and anxiety than those perceiving misfit.

IMPORTANCE:

50

The Importance Of Stress Reduction There is a direct correlation between staying healthy and stress reduction. Stress has a tendency to build up and if we don't do anything to lower our stress levels, we may find that our bodies and minds have a "melt down" of sorts. Stress reduction is essential for both our long-term physical and emotional health. It can be very hard to deal with everyday events if you are stressed out and eventually you will crack if you don't deal with the pent up anger, stress and aggression you are holding in. The emotional side of stress can take its toll on a person. The same goes for the physical. Stress reduction is necessary if you have unexplained shoulder or back pain, migraine or tension headaches, constant "butterflies" in your stomach, hair loss, sleep problems, lack of concentration, nervousness, chest pains and fatigue. These are all symptoms that you are suffering from stress. Stress reduction can teach you how to recognize these symptoms and prevent them from getting any worse than they already are. If you know how to properly deal with stress, you will be able to calm yourself down when you start to feel yourself getting upset. Stress reduction methods are perfect for use in situations like this. If you are at work and your boss just yelled at your for something that would normally get you very stressed out, a stress reduction method to use is deep breathing. It's an exercise that you can do behind closed doors or even open ones if you have no choice. No one has to know you're doing it and it will help you to calm down almost instantly. You take one deep breath in and hold it for four to five seconds. Then, let your breath out and hold it for another four or five seconds. Repeat this stress reduction exercise until you begin to feel your body returning to normal. With every breath you exhale, you should feel the tension draining from your shoulders, neck and face.

51

If you let yourself get overstressed, the symptoms described above will be extreme. You might have constant headaches, an ever-present feeling of nervousness or just a general tensed up feeling throughout your entire body. These physical and emotional symptoms can start to affect your daily performance. You might be short with those you love, get annoyed easily, feel depressed, overwhelmed or unorganized. At this point, you will need to practice stress reduction methods every day until you begin to feel like yourself again. A stress reduction method that will definitely help to let some of the tension from your body go is a deep tissue massage. It will feel amazing, give you some much needed relaxation and help you to calm your muscles. You will want to couple that with breathing exercise when you feel anxious or stressed and you may want to take up yoga as another stress reduction method you can practice on a weekly basis. These stress reduction exercises will not only allow you to deal with the built-up stress that has already taken up residence in your mind and body, but they can also help prevent it from happening again!

52

LITERATURE REVIEW
53

LITERATURE REVIEW
A lot of research has been conducted into stress over the last hundred years. Some of the theories behind it are now settled and accepted; others are still being researched and debated. During this time, there seems to have been something approaching open warfare between competing theories and definitions: Views have been passionately held and aggressively defended. What complicates this is that intuitively we all feel that we know what stress is, as it is something we have all experienced. A definition should therefore be obvious except that it is not. Hans Selye was one of the founding fathers of stress research. His view in 1956 was that stress is not necessarily something bad it all depends on how you take it. The stress of exhilarating, creative successful work is beneficial, while that of failure,

54

humiliation or infection is detrimental. Selye believed that the biochemical effects of stress would be experienced irrespective of whether the situation was positive or negative. Since then, a great deal of further research has been conducted, and ideas have moved on. Stress is now viewed as a "bad thing", with a range of harmful biochemical and long-term effects. These effects have rarely been observed in positive situations. The most commonly accepted definition of stress (mainly attributed to Richard S Lazarus) is that stress is a condition or feeling experienced when a person perceives that demands exceed the personal and social resources the individual is able to mobilize. In short, it's what we feel when we think we've lost control of events. This is the main definition used by this section of Mind Tools, although we also recognize that there is an intertwined instinctive stress response to unexpected events. The stress response inside us is therefore part instinct and part to do with the way we think. St. Paul Fire and Marine Insurance Company conducted several studies on the effects of stress prevention programs in hospital settings. Program activities included (1) employee and management education on job stress, (2) changes in hospital policies and procedures to reduce organizational sources of stress, and (3) establishment of employee assistance programs. In one study, the frequency of medication errors declined by 50% after prevention activities was implemented in a 700-bed hospital. In a second study, there was a 70% reduction in malpractice claims in 22 hospitals that implemented stress prevention activities. In contrast, there was no reduction in claims in a matched group of 22 hospitals that did not implement stress prevention activities. Also from various research it has been observed that stress is a measure of the average amount of force exerted per unit area. It is a measure of the intensity of the total internal 55

forces acting within a body across imaginary internal surfaces, as a reaction to external applied forces and body forces. It was introduced into the theory of elasticity by Cauchy around 1822. Stress is a concept that is based on the concept of continuum. In general, stress is expressed as

Where Is the average stress, also called engineering or nominal stress, and Is the force acting over the area .

Thus we can say , stress Definition of Stress : In medical terms stress is described as, "a physical or psychological stimulus that can produce mental tension or physiological reactions that may lead to illness." When you are under stress, your adrenal gland releases corticosteroids, which are converted to cortisol in the blood stream. Cortisol have an immune suppressive effect in your body. Another Definition of Stress According to Richard S Lazarus, stress is a feeling experienced when a person thinks that "the demands exceed the personal and social resources the individual is able to mobilize." Your body tries to adjust to different circumstances or continually changing environment around you. In this process, the body is put to extra work resulting in "wear and tear". In other words, your body is stressed. Stress disturbs the body's normal way of functioning. 56

Most of us experience stress at one time or another. Without stress, there would be no life. However, excessive or prolonged stress can be harmful. Stress is unique and personal. A situation may be stressful for someone but the same situation may be challenging for others. For example, arranging a world level symposium may be challenging for one person but stressful to another. Some persons have habit of worrying unnecessarily. Stress is not always necessarily harmful. Hans Selye said in 1956, "stress is not necessarily something bad it all depends on how you take it. The stress of exhilarating, creative successful work is beneficial, while that of failure, humiliation or infection is detrimental." Stress can be therefore negative, positive or neutral. Passing in an examination can be just stressful as failing. Sometime we know in advance that doing a certain thing will be stressful, but we are willing to doing that. For example, while planning a vacation to a hill station you know that it would be stressful at certain times. But you are willing to face those challenges. People often work well under certain stress leading to increased productivity. Many times you do not know in advance and the stress periods may be sudden. The situation may not be under our control. Too much stress is harmful. We should know our level of stress that allows us to perform optimally in your life. Thus we can say that stress is the process by which we cannot achieve the target easily and do not work properly in the organization. Causes and Cures of Stress in Organizations Job stress in organizations is widespread. About half of all American workers feel the pressures of job-related stress. Extensive research shows that excessive job stress can adversely affect the emotional and physical health of workers. The result is decreased 57

productivity, less satisfied, and less healthy workers. This paper will first discuss the symptoms and causes of stress, and then explore ways in which managers might reduce stress in themselves and their subordinates. Definition of Stress Stress is an imprecise term. It is usually defined in terms of the internal and external conditions that create stressful situations, and the symptoms that people experience when they are stressed. McGrath (1976) proposed a definition based on the conditions necessary for stress. So there is a potential for stress when an environmental situation is perceived as presenting a demand that threatens to exceed the person's capabilities and resources for meeting it, under conditions where he expects a substantial differential in the rewards and costs from meeting the demand versus not meeting it. McGrath's definition implies that the degree of stress is correlated with a persons perceived inability to deal with an environmental demand. This would lead to the conclusion that a person's level of stress depends on their self-perceived abilities and self-confidence. Stress is correlated with a person's fear of failure. Arnold and Feldman (1986) define stress as "the reactions of individuals to new or threatening factors in their work environment." Since our work environments often contain new situations, this definition suggests that stress in inevitable. This definition also highlights the fact that reactions to stressful situations are individualized, and can result in emotional, perceptual, behavioral, and physiological changes.

58

Williams and Huber (1986) define stress as "a psychological and physical reaction to prolonged internal and/or environmental conditions in which and individual's adaptive capabilities are overextended." They argue that stress is an adaptive response to a conscious or unconscious threat. Like McGrath, they point out that stress is a result of a "perceived" threat, and is not necessarily related to actual environmental conditions. The amount of stress that is produced by a given situation depends upon one's perception of the situation, not the situation itself. In other words, stress is a relativistic phenomena. In Gestalt Therapy Verbatim (Real People Press, 1969) Perls proposes a more general definition, where stress is a manifestation of thinking about the future. Anxiety is created by focusing attention away from the "here and now". It is created by expectations of the future--the tension between the now and the later. According to Perls, there is no difference between good stress and bad stress. They are both created by thinking about the future. When anxiety finds an outlet, we say that the stress was motivating; when it doesn't, we call it debilitating. French, Kast, and Rosenzweig (1985) also emphasized the idea that stress itself is not necessarily bad. "The term stress can be considered neutral with the words distress and eustress used for designating bad and good effects." They propose a model that defines an optimum range of stress in terms of its effect on performance. Stress levels that exceed an optimum level result in decreased performance and eventual burnout. Stress levels below a minimum level result in decreased performance and "rust-out". Symptoms of Stress Selye (1946) was the first to describe the phases that the body goes through in response to a threat. The general adaptation syndrome model states that the body passes through three 59

stages. The first stage is an alarm reaction. The body prepares for a potential emergency. Digestion slows down, the heart beats faster, blood vessels dilate, blood pressure rises, and breathing becomes rapid and deep. All bodily systems work together to provide maximum energy for fight or flight. The second stage is resistance. If the stress continues, the body builds up a tolerance to its effects. The body becomes habituated to the effects of the stressor, however, the bodies adaptive energies are being used as a shield against the stressor. The third stage is exhaustion. When the body's adaptive energies are depleted, the symptoms of the alarm reaction reappear, and the stress manifests itself as an illness, such as ulcers, heart ailments, and high blood pressure. During the first or second stages, the removal of the stressor will eliminate the symptoms. Ivancevich and Matteson (1980) point out that during the early days of our evolution, we needed the fight-or-flight response for our survival. "The problem we encounter today is that the human nervous system still responds the same way to environmental stressors, although the environment is radically different. The tigers are gone and with them the appropriateness of the fight-or-flight response." Reitz (1987) writes that individuals in modern society often substitute other psychological reactions for flight-or-flight. Substitutions for fighting include negativism, expression of boredom, dissatisfaction, irritability, anger over unimportant matters, and feelings of persecution. Substitutions for fleeing include apathy, resignation, fantasy, forgetfulness, inability to concentrate, procrastination, and inability to make decisions. Short-term stress has served a useful purpose in our survival. Long-term stress, however, involves increasingly higher levels of prolonged and uninterrupted stress. The body adapts to the stress by gradually adjusting its baseline to higher and higher levels. For example, workers in stressful jobs often show an increased "resting" heart rate. Pelletier (1977) 60

believes that the deleterious effects of stress are created only by unrelieved long-term stress. Albrecht (1979) also believes that the effects of stress are cumulative in nature. Ulcers do not just happen overnight in a high stress situation; they are generally the result of long extended exposure to stress. "The health breakdown is simply the logical conclusion of a self-induced disease development over a period of 10 to 20 years." Job stress can have a substantial negative effect on physical and emotional health. Williams and Huber (1986) provide a comprehensive list of the symptoms of stress. These are: "constant fatigue, low energy level, recurring headaches, gastrointestinal disorders, chronically bad breath, sweaty hands or feet, dizziness, high blood pressure, pounding heart, constant inner tension, inability to sleep, temper outbursts, hyperventilation, moodiness, irritability and restlessness, inability to concentrate, increased aggression, compulsive eating, chronic worrying, anxiety or apprehensiveness, inability to relax, growing feelings of inadequacy, increase in defensiveness, dependence on tranquilizers, excessive use of alcohol, and excessive smoking." Furthermore, job stress can make people more susceptible to major illnesses. High stress managers are twice as prone to heart attacks as low stress managers. (Rosenman and Friedman, 1971) Excessive job-related stress is not a small or isolated problem. Over one-third of all American workers thought about quitting their jobs in 1990. One-third believe they will burn-out in the near future, and one-third feel that job stress is the single greatest source of stress in their lives. Nearly three-fourths of all workers feel that job stress lowers their productivity, and they experience health problems as a consequence. (Lawless, 1991, 1992) Furthermore, this is not exclusively a United States phenomena. A Japanese poll conducted by the Health and Welfare Ministry in 1988 indicated that 45 percent of workers felt stress from their jobs. (Asahi News Service, 1990)

61

Recent studies have found evidence of dangerous physical changes attributed to prolonged stress. One New York study reported a twenty gram increase in heart muscles of those suffering from job stress. There was a significant "thickening of the heart's left ventricle, or chamber, a condition that often precedes coronary heart disease and heart attacks." (Pieper, C., 1990) Omni magazine (March, 1991) wrote about a series of experiments with rats to examine the physiological effects of prolonged stress. The researchers found that there was actually a loss of neurons in the hippocampus section of their brains. The article concluded with a warning that there is some evidence of a similar neuron loss occurs in humans. Many researchers have studied the effects of stress on performance. McGrath (1978) reported that mild to moderate amounts of stress enables people to perform some tasks more effectively. The rationale is that improved performance can be attributed to increased arousal. However, if the stressor continues, it eventually takes its toll, and results in decreased performance and deleterious health consequences. Furthermore, workers are aware of the toll that stress has had on their own performances. Half of all workers say that job stress reduces their productivity. (Lawless, 1992) According to Blanger et al. (ibid) the first dimension, production management, is concerned with aspects of productive flexibility and process standardisation. A key facet here is quality management, which characteristically involves the use of statistical tools to analyse variance from tolerance margins at each stage of the production process, often subsumed within a wider TQM format. A quite distinct second dimension relates to work organisation. Here, it is argued, there has been a trend towards production activities based on knowledge, cognition and abstract labour. The sine qua non of this aspect of the new model is teamworking, the medium whereby tacit knowledge shared amongst the work group is developed into explicit knowledge. The practice of sharing

62

skills across traditional demarcations is thus a fundamental feature of the emergent model (ibid, p. 39). The third sphere, employment relations, very much underpins the coherence of the former two components given the requirement for a committed, rather than merely compliant workforce (ibid, pp. 42-48). Two significant features emerge. Firstly, Blanger et al. (ibid) state there is a desire to align and support task flexibility via terms and conditions of employment . This is typically sought by making pay contingent on group performance (Appelbaum, 2002, p. 124). Secondly, HRM professionals are charged with the pursuit of social adhesion and commitment to the new production format and wider organisational goals. This involves efforts to fashion employment conditions and the modes of regulation of those conditions in such a way as to elicit the tacit skills of the workers and tie them more closely to the goals of the firm (Blanger et al., 2002, p. 44). In other words, the central task becomes the inculcation of a unitary organisational culture, or in Guests (2002, p. 338) terms, the creation of a social system in support of the technical system. Characteristically the UK (alongside the US is regarded as a paradigmatic example of a liberal market economy (LME). Orthodox institutionalist accounts indicate the presence of pervasive pressures militating against long-term planning within this mode of capitalism. Typically, two principal market failure arguments are advanced. The first is that the development of equity markets, dominated by large institutional players such as pension and mutual funds, encourages a short-term approach to both capital investment and the development of human resources. It is argued that because HPM involves high shortrun costs it is a difficult strategy for many firms to pursue, particularly in the face of competition from cost minimising firms following a lowroad approach to competition (Konzelmann and Forrant, 2000, p. 6). This can be seen as undermining the ability of organisations to implement and maintain the bundles of practices subsumed within 63

HPM. Within the context of such destructive markets (ibid) organisations often prefer to shrink or transact their way to profit (Pfeffer cited in Keep, 2000, p. 11) undermining, for example, job security, a facet generally regarded as central to the employee relations sphere of HPM (Forth and Millward, 2004; but see also Harley, 2002, p. 43, whose findings

question this latter assumption). The tying of senior managerial structures of reward to the performance of equities consolidates the process (Pfeffer cited in Keep, 2000, p. 12). Secondly, it is argued that the absence of institutions to regulate training and development across firms and sectors encourages a similar mindset of short-termism. Companies are fearful of investing in their employees human capital for fear of poaching by competitors. Better to recruit oven ready employees than incur costs through externalities. It is a short leap from this kind of analysis to posit a path dependency, whereby the institutional embeddedness of firms in LMEs generally is depicted as rendering any shift to HPM at best problematic. Such structurally inspired determinism very much represents the dominant discourse within many accounts. For Thompson (2003) the key to the successful implementation of HPM is reciprocity. That is, in return for employee participation in the micro-management of work and expanded

responsibilities, employers should undertake commitment and trust building measures in the employment relationship (ibid, p. 363). The call is for investment in human capital through training, enhanced career structures, job stability and performance and skill based reward measures (ibid). The potential for the realisation of this vision, however, is difficult to achieve within the constraints of contemporary neo-liberalism. Strong reservations are expressed with regard to the sustainability of the putative model under current modes of corporate governance, specifically short-term stock market pressures and the resultant pursuit of shareholder value. The overall prognosis is one of pessimism with Britain destined to remain considerably short of even the minimum conditions of a

64

high-skilled ecosystem (ibid, p. 368). Blanger et al. (2002) similarly view the dominant neo-liberal discourse as problematic for the emergent model and the overall tenor of this account offers limited scope for optimism. Echoing Thompson, the implicit message is again one of the need for reciprocity between capital and labour. Hence, much of the account is bedecked in the lexicon of neo-corporatism with references peppered throughout to social compromise, social pacts, a new social contract, and multipartite consultation. At the core of this account is the principal theme that the social infrastructure necessary to mediate and respond to the inherent tensions within the new model has yet to emerge. While this is far from impossible, the creation of such infrastructure is seen to be especially problematic within LMEs and the renewal of collective representation (ibid, p. 65) is seen as pivotal: This account accords strongly with the conclusion of Hillard and McIntyre (cited in Lloyd, 2000, p. 6) that without a supportive industrial relations framework in place HPWO [high performance work organisation] has only succeeded in a limited number of places. Developing this theme Blanger and his colleagues argue that it is only through a renewal in union strength that the trade-offs, reciprocity in Thompsons (2003) terms, necessary for stability are likely to emerge. Unfortunately, however, the wellsprings are not in

evidence. Initiatives such as the governments partnership programme are tentative experimentations rather than interventions likely to redress the inadequate power resources of organised labour. In view of the secular decline in trade union fortunes, allied to the limited appetite for significant state intervention, the ultimate message derived here is that the UKs transformation to a high performance economy is based on shaky foundations.

65

In a variation on this theme, Brown and Reich (1997) travel a well worn course plotting the interactions between organisational strategy and the national

macroeconomic and institutional environment in the USA and Japan. . Echoing Thompson (2003) the tenor is again overtly structuralist, the core thesis being an account of how institutional structures constrain and shape organisational strategy. It is argued that while in Japan the micro-macro structures are suitably aligned for the consolidation and development of HPM, in the US the linkages lack such coherence. Particularly problematic for US organisations seeking to implement techniques of HPM are low rates of investment, an inadequate education system, and high immigration that support and require the growth of less-skilled low-wage jobs. There are, however, significant problems with this account. While these factors might make a low-skill, low value-added-route intuitively attractive to capital, how this translates more This account accords strongly with the conclusion of Hillard and McIntyre (cited in Lloyd, 2000, p. 6) that without a supportive industrial relations framework in place HPWO [high performance work organisation] has only succeeded in a limited number of places. Developing this theme Blanger and his colleagues argue that it is only through a renewal in union strength that the trade-offs, reciprocity in Thompsons (2003) terms, necessary for stability are likely to emerge. Unfortunately, however, the wellsprings are not in evidence. Initiatives such as the governments partnership programme are tentative

experimentations rather than interventions likely to redress the inadequate power resources of organised labour. In view of the secular decline in trade union fortunes , allied to the limited appetite for significant state intervention, the ultimate message derived here is that the UKs transformation to a high performance economy is based on shaky foundations.

66

In a variation on this theme, Brown and Reich (1997) travel a well worn course plotting the interactions between organisational strategy and the national

macroeconomic and institutional environment in the USA and Japan. 11 . Echoing Thompson (2004) the tenor is again overtly structuralist, the core thesis being an account of how institutional structures constrain and shape organisational strategy. It is argued that while in Japan the micro-macro structures are suitably aligned for the consolidation and development of HPM, in the US the linkages lack such coherence. Particularly problematic for US organisations seeking to implement techniques of HPM are low rates of investment, an inadequate education system, and high immigration that support and require the growth of less-skilled low-wage jobs. There are, however,significant problems with this account. While these factors might make a lowskill,low value-added-route intuitively attractive to capital, how this translates more

67

RESEARCH METHODOLOGY

68

RESEARCH METHODOLOGY

Research is an Organized and Systematic way of Finding Answers to Questions. Systematic because there is a definite set of procedures and steps which you will follow. There are certain things in the research process which are always done in order to get the most accurate results. Organized in that there is a structure or method in going about doing research. It is a planned procedure, not a spontaneous one. It is focused and limited to a specific scope. Finding Answers is the end of all research. Whether it is the answer to a hypothesis or even a simple question, research is successful when we find answers. Sometimes the answer is no, but it is still an answer. Questions are central to research. If there is no question, then the answer is of no use. Research is focused on relevant, useful, and important questions. Without a question, research has no focus, drive, or purpose. Research can be defined as an organized inquiry designed and carried out to provide information for solving problems. According to Clifford Woody-research comprises defining and redefining problems, formulating hypothesis, or suggested solutions; collecting, organizing and evaluating data, 69

making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. The purpose of research is gaining knowledge, which will be used for solving problems (applied research) or for satisfying ones thirst for knowledge (pure research). The goals of research may be discovering new facts, establishment of new relationship, creating of new concepts, and verification of existing concepts, finding solution to a problem or satisfying ones desire to know. Methodology is defined as 1. "the analysis of the principles of methods, rules, and postulates employed by a discipline" or 2. "the development of methods, to be applied within a discipline" 3. "A particular procedure or set of procedures." Methodology includes the following concepts as they relate to a particular discipline or field of inquiry: A collection of theories, concepts or ideas; Comparative study of different approaches.

Thus in simple words, Research Methodology are a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically.

Types of research:
Descriptive Research: A type of research conducted to describe the state of affairs as it exists at present i.e. to report what has happened or what is happening. The methods of research utilized in 70

descriptive research are survey methods of all kinds, including comparative and correlation methods and fact-findings enquiries of different kinds.

Analytical Research: In this the researcher has to use facts or information already available and analyze these to make a critical evaluation. Applied Research: This research aims at finding a solution for an immediate problem. Fundamental Research: It is mainly concern with generalization and with the formulation of a theory. Gathering knowledge for knowledges sake is also termed as pure or basic research. Quantitative Research: It is mainly based on measurement of quantity. It is applicable to phenomenon that can be expressed in terms of quantity. Qualitative Research: It is concerned with qualitative phenomenon i.e. relating to or involving quality or kind. Conceptual Research: A type of research that is related to some abstract idea or theory. It is generally used by philosophers and thinkers to develop new concept or to reinterpret existing ones.

71

 Empirical Research: This type of research relies on experience or observation. It is data base research coming up with conclusions which are capable of being verified by observation or experiment.

TYPE OF RESEARCH BEING USED: The study is based on descriptive cum analytical.

Research Process:

Review of literature

Review concepts & theories Introduction to the problem Formulate Hypothesis Design Research (including sample design)

Review Empirical Evidences

Suggestion

Interpretation

Finding & Analysis

Collect Data

72

Figure 8: Research Process Model

1. Introduction To The Problem: In research process, the first and the foremost steps happens to be that of selecting and properly defining a research problem. A researcher must find the problem and formulate it so that it becomes susceptible to research. A research problem refers to some difficulty which a researcher experiences in the context of either a theoretical or practical situation and wants to obtain a solution for the same. 2. Review Of Literature: Once the problem is formulated the researcher should undertake extensive literature survey connected with the problem. In this process one source will lead to another. A good library will be a great help to the researcher at this stage. 3. Formulate Hypothesis: Working hypothesis is a tentative assumption made in order to draw out and test it logical and empirical consequences. It provides a focal point for research. The role of hypothesis is to guide the researcher by delimiting the area of research and to keep him on the right track. It also indicates the type of data require and the type of method of data analysis to be used. 4. Research Design: The formidable problem that follows the task of defining the research problem is the preparation of the design of the research project, popularly known as the Research Design 73

There are three types of Research Design:1. Exploratory Research Design: The major emphasis in exploratory research design is on discovery of ideas and insights. 2. Descriptive Research Design: The Descriptive Research Design Study is typically concerned with determining the frequency with which something occurs or the relationship between two variables. 3. Causal Research Design: A Causal Research Design is concerned with determining cause and effect relationship. Data Collection: The task of data collection begins after a research problem has been defined and research design plan chalked out. Data are facts, and other relevant materials, past and present, serving a basis for the study and analysis. The data serve as a base or raw material or analysis. Without an analysis of factual data, no specific inferences can be drawn on the questions under the study. The relevance, adequacy and reliability of data determine the quality of the findings of a study. It is important for a researcher to know the source of data which he requires for his different purposes, data are nothing but the information. While deciding about the method of data collection to be used for the study the researcher should keep in mind two types of data viz., primary and secondary.

74

A) Primary data are those which are collected afresh and for the first time and thus happen to be original in character. The collection of primary data was the most important phase in the whole study, as this was the main source of getting effective solutions. Hence questionnaire method was used for the primary data collection. The first hand information is collected with the responses of questionnaire. DATA TYPE: The study is based on secondary data. DATA SOURCES: The data collected from various websites, e-books, books, etc. DATA ANALYSIS AND INTERPRETATION TECHNIQUES: The study is based on the secondary data which has been collected from various websites. The data so collected shall be analyzed with the help of diagrams. The study may not involve test for sampling because primary data has not been collected for the purpose of study.

75

FINDING & ANALYSIS

76

FINDINGS AND ANALYSIS

The finding has been done by taken following companies which are as following TATA MOTORS COMPANY

NOKIA

ICICI BANK

MARUTI SUZUKI

TATA MOTORS COMPANY

Tata Motors Ltd. is a multinational corporation headquartered in Mumbai, India. Part of the Tata Group, it was formerly known as TELCO (TATA Engineering and Locomotive

77

Company). Tata Motors has a consolidated revenue of USD 16 billion after the acquisition of British automotive brands Jaguar and Land Rover in 2008. It is India's largest company in the automobile and commercial vehicle sector with upwards of 70% cumulative Market share in the Domestic Commercial vehicle segment, and a midsized player on the world market with 0.81% market share in 2007 according to OICA data. The OICA ranked it as the 19th largest automaker,[1] based on figures for 2007.[2] and the second largest manufacturer of commercial vehicles in the world. The company is the worlds fourth largest truck manufacturer, and the worlds second largest bus manufacturer. In India, Tata ranks as the leader in every commercial vehicle segment, and is in the top 3 makers of passenger cars. Tata Motors is also the designer and manufacturer of the iconic Tata Nano, which at INR 100,000 or approximately USD 2300, is the cheapest car in the world. Established in 1945, when the company began manufacturing locomotives, the company manufactured its first commercial vehicle in 1954 in a collaboration with Daimler-Benz AG, which ended in 1969. Tata Motors is a dual-listed company traded on both the Bombay Stock Exchange, as well as on the New York Stock Exchange. Tata Motors in 2005, was ranked among the top 10 corporations in India with an annual revenue exceeding INR 320 billion. In 2004, Tata Motors bought Daewoo's truck manufacturing unit, now known as Tata Daewoo Commercial Vehicle, in South Korea. It also acquired Hispano Carrocera SA, now a fully-owned subsidiary. In March 2008, it acquired the Jaguar Land Rover (JLR) business from the Ford Motor Company, which also includes the Daimler and Lanchester brands. and the purchase was completed on 2 June 2008.

78

Tata Motors has auto manufacturing and assembly plants in Jamshedpur, Pantnagar, Lucknow, Ahmedabad and Pune in India, as well as in Argentina, South Africa and Thailand. NOKIA COMPANY: Nokia Corporation is a Finnish multinational communications corporation that is headquartered in Keilaniemi, Espoo, a city neighbouring Finland's capital Helsinki. Nokia is engaged in the manufacturing of mobile devices and in converging Internet and communications industries, with over 123,000 employees in 120 countries, sales in more than 150 countries and global annual revenue of EUR 41 billion and operating profit of 1.2 billion as of 2009. It is the world's largest manufacturer of mobile telephones: its global device market share was about 39% in Q4 2009, up from 37% in Q4 2008 and 38% in Q3 2009, and its converged device market share was about 40% in Q4, up from 35% in Q3 2009. Nokia produces mobile devices for every major market segment and protocol, including GSM, CDMA, and W-CDMA (UMTS). Nokia offers Internet services such as applications, games, music, maps, media and messaging through its Ovi platform. Nokia's subsidiary Nokia Siemens Networks produces telecommunications network equipment, solutions and services. Nokia is also engaged in providing free digital map information and navigation services through its wholly-owned subsidiary Navteq Nokia has sites for research and development, manufacture and sales in many countries throughout the world. As of December 2009, Nokia had R&D presence in 16 countries and employed 37,020 people in research and development, representing approximately 30% of the group's total workforce. The Nokia Research Center, founded in 1986, is Nokia's industrial research unit consisting of about 500 researchers, engineers and scientists. It has sites in seven countries: Finland, China, India, Kenya, Switzerland, the United Kingdom 79

and the United States.[7] Besides its research centers, in 2001 Nokia founded (and owns) INdT Nokia Institute of Technology, a R&D institute located in Brazil. Nokia operates a total of 15 manufacturing facilities located at Espoo, Oulu and Salo, Finland; Manaus, Brazil; Beijing, Dongguan and Suzhou, China; Farnborough, England; Komrom, Hungary; Chennai, India; Reynosa, Mexico; Jucu, Romania and Masan, South Korea. Nokia's Design Department remains in Salo, Finland. Nokia is a public limited liability company listed on the Helsinki, Frankfurt, and New York stock exchanges. Nokia plays a very large role in the economy of Finland; it is by far the largest Finnish company, accounting for about a third of the market capitalization of the Helsinki Stock Exchange (OMX Helsinki) as of 2007, a unique situation for an industrialized country. It is an important employer in Finland and several small companies have grown into large ones as its partners and subcontractors. Nokia increased Finland's GDP by more than 1.5% in 1999 alone. In 2004 Nokia's share of the Finnish GDP was 3.5% and accounted for almost a quarter of Finland's exports in 2003. In recent years, Finns have consistently ranked Nokia as one of the best Finnish brands. In 2008, it was the 27th most respected brand among Finns, down from sixth place in 2007. [15] The Nokia brand, valued at $34.9 billion, is listed as the fifth most valuable global brand in the Interbrand/BusinessWeek Best Global Brands list of 2009 (first non-US company). It is the number one brand in Asia (as of 2007) and Europe (as of 2009), the 41st most admirable company worldwide in Fortune's World's Most Admired Companies list of 2010 (third in Network and Other Communications Equipment, seventh non-US company), and the world's 85th largest company as measured by revenue in Fortune Global 500 list of 2009, up from 88th the previous year. As of 2009, AMR Research ranks Nokia's global supply chain number six in the world.

80

ICICI BANK
ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank by market capitalisation and second largest overall in terms of assets. total assets of Rs. 3,562.28 billion (US$ 77 billion) at December 31, 2009 and profit after tax Rs. 30.19 billion (US$ 648.8 million) for the nine months ended December 31, 2009.[1] The Bank also has a network of 1,640+ branches (as on February 11, 2010) and about 4,721 ATMs in India and presence in 18 countries, as well as some 24 million customers (at the end of July 2007). ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. (These data are dynamic.) ICICI Bank is also the largest issuer of credit cards in India. [2]. ICICI Bank has got its equity shares listed on the stock exchanges at Kolkata and Vadodara, Mumbai and the National Stock Exchange of India Limited, and its ADRs on the New York Stock Exchange (NYSE). The Bank is expanding in overseas markets and has the largest international balance sheet among Indian banks. ICICI Bank now has wholly-owned subsidiaries, branches and representatives offices in 18 countries, including an offshore unit in Mumbai. This includes wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary through which the HiSAVE savings brand[3] is operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, and representative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian) population in particular.

81

ICICI reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29% increase in total income to Rs. 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The bank's current and savings account (CASA) ratio increased to 30% in 2008 from 25% in 2007. ICICI Bank is one of the Big Four Banks of India with State Bank of India, Axis Bank and HDFC Bank.

MARUTI SUZUKI INDIA LIMITED

Maruti Suzuki India Limited is a publicly listed automaker in India. It is the largest automobile manufacturer in South Asia. Suzuki Motor Corporation of Japan holds a majority stake in the company. It was the first company in India to mass-produce and sell more than a million cars. It is largely credited for having brought in an automobile revolution to India. It is the market leader in India and on 17 September 2007, Maruti Udyog Limited was renamed Maruti Suzuki India Limited. The company's headquarters are located in Delhi. HOW VARIOUS COMPANIES ARE MANAGING STRESS IN THEIR ORGANISATIONS: 1. STRESS MANAGEMENT BY TATA MOTORS COMPANY: Tata Motors is Managing Stress with the help of Yoga ... It was a part of the Executive Development Program conducted yearly by Tata Management.

82

Definition of Yoga: Yoga is a practical aid, not a religion. Yoga is an ancient art based on a harmonizing system of development for the body, mind, and spirit. The continued practice of yoga will lead you to a sense of peace and well-being, and also a feeling of being at one with their environment. This is a simple definition. 2. STRESS MANAGEMENT BY NOKIA COMPANY: The company NOKIA is managing stress by giving training at the workplace, employee appreciation events, and conferences.

83

Definition of Training: It is a learning process that involves the acquisition of knowledge, sharpening of skills, concepts, rules, or changing of attitudes and behaviors to enhance the performance of employees. Definition of Conference A conference is a meeting of people that "confer" about a topic.

3. ICICI BANK - Managing Stress Through Yoga Meditation Powernaps ... It was a part of the Executive Development Program conducted yearly by ICICI BANK. Definition of Yoga: Yoga is a practical aid, not a religion. Yoga is an ancient art based on a harmonizing system of development for the body, mind, and spirit. The continued practice of yoga will lead you to a sense of peace and well-being, and also a feeling of being at one with their environment. This is a simple definition. 4. STRESS MANAGEMENT BY MARUTI SUZUKI INDIA LIMITED: Stress management training for the workplace, employee appreciation events, and conferences. Definition of Training:

84

It is a learning process that involves the acquisition of knowledge, sharpening of skills, concepts, rules, or changing of attitudes and behaviours to enhance the performance of employees. Employees opinion about how to reduce stress The response of employees in the TATA MOTOR, NOKIA, ICICI BANK & MARUTI SUZUKI was marvelous and they have given their valuable opinion about reducing stress ,So the opinion of the employees are as follows: Just smile away An employee- ICICI Bank Just believe in your self and just do what your heart wants An employee- TATA MOTORS. -Talking to family members,- Watching TV or listening good music, - Going for a walk or long drive An employee- NOKIA Believe in God An employee- MARUTI SUZUKI Respect yourself and give time to yourself An employee- ICICI Bank Working in environment welfares, lot of positive attitude. Positive attitude is only that reduces stress and achieves success. Most of the people frustrate due to lack of positivity and stress level climbs up due to that. So get positive attitude about work, about life, and forget the stress An employee- TATA MOTOR. We should do such activities from which we get happiness and also make others happy. Pass your time with your close friends and relatives. An employee- ICICI BANK. Play and watch cricket An employee- TATA MOTORS Listen music and spend time with family An employee- NOKIA

85

 Get adjusted with others, Find and spend time for prayer, Study the scriptures, See oneness in all, All are manifested of the supreme GOD An employee- ICICI BANK

IMPACT OF STRESS ON EMPLOYEE The negative impact of employee stress on business is now an acknowledged factor. Studies in India have proved that the annual cost of employee stress in terms of loss to productivity. Unmanaged stress has a debilitating impact on the organisation, the consequences vary from loss of individual productivity to increased absenteeism to rise in employee attrition. Team morale and productivity is also adversely affected. But is it possible to create a stress-free workplace? Probably not, it is indeed an integral part of our personal and professional life, but the solution lies in creating an environment that reduces its impact. The fact that employee stress is a subjective matter cannot be overlooked. What might appear as a stressful situation for one might be taken as a normal work routine by another. Monisha Advani, CEO, EmmayHR agrees that most organisations tend not to act at all or appropriately to prevent situations of unmanaged stress. The unfortunate perception lies in assigning responsibility for stress. Is it the employees personal look out or is it the employers? Where does one draw the line? The definition of workplace stress can be easily misconstrued, as it varies from case to case. Advani points out that drawing up policies to address workplace stress in a direct form can expose an organisation to red herring claims from employees. Hence, the tentativeness from employers to own up to the responsibility or demonstrate documented proactivity to control workplace stress. Consequences of unmanaged stress 86

Stressful working conditions have a direct negative impact on the mental and physical well-being of the workforce. A disgruntled workforce obviously under-performs and under-delivers, leading to an impact on the bottomline. In a more precautionary sense, unmanaged stress can be very infectious in large-sized organisations with workforces that are inhabited together. As a nation, we have spent the last two decades trying to eradicate cohesion of employees in a formal context (unions, associations) from the workplace. Unfortunately, such scenarios are completely fuelled by intangible conditions like unmanaged stress. In addition, a company can easily suffer external image damage from being perceived as a hotbed of a stressful work environment, limiting its talent acquisition strategies. Major Causes of Workplace Stress 1. Not knowing what you want or if you're getting it - poor planning. 2. The feeling that there's too much to do. One can have this feeling even if there's hardly anything to do at all. 3. Not enjoying your job. This can be caused by lots of things, for example, not knowing what you want, not eating well, etc. However, most people always blame their jobs. 4. Conflicting demands on the job. 5. Insufficient resources to do the job.6. Not feeling appreciated. Biggest Time Wasters 1. Interruptions. There will always be interruptions. It's how they're handled that wastes time. 2. Hopelessness. People "give in", "numb out" and "march through the day". 3. Poor delegation skills. This involves not sharing work with others.

87

Common Symptoms of Poor Stress and Time Management 1. Irritability. Fellow workers notice this first. 2. Fatigue. How many adults even notice this? 3. Difficulty concentrating. You often don't need to just to get through the day! 4. Forgetfulness. You can't remember what you did all day, what you ate yesterday. 5. Loss of sleep. This affects everything else! 6. Physical disorders, for example, headaches, rashes, tics, cramps, etc. 7. At worst, withdrawal and depression. Wise Principles of Good Stress and Time Management 1. Learn your signs for being overstressed or having a time management problem. Ask your friends about you. Perhaps they can tell you what they see from you when you're overstressed. 2. Most people feel that they are stressed and/or have a time management problem. Verify that you really have a problem. What do you see, hear or feel that leads you to conclude that you have a time or stress problem? 3. Don't have the illusion that doing more will make you happier. Is it quantity of time that you want, or quality? 4. Stress and time management problems have many causes and usually require more than one technique to fix. You don't need a lot of techniques, usually more than one, but not a lot. 5. One of the major benefits of doing time planning is feeling that you're in control. 6. Focus on results, not on busyness. 7. It's the trying that counts - at least as much as doing the perfect technique.

88

Simple Techniques to Manage Stress There are lots of things people can do to cut down on stress. Most people probably even know what they could do. It's not the lack of knowing what to do in order to cut down stress; it is doing what you know you have to do. The following techniques are geared to help you do what you know you have to do. 1. Talk to someone. You don't have to fix the problem, just report it. 2. Notice if any of the muscles in your body are tense. Just noticing that will often relax the muscle. 3. Ask your boss if you're doing OK. This simple question can make a lot of difference and verify wrong impressions. 4. Delegate. 5. If you take on a technique to manage stress, tell someone else. They can help you be accountable to them and yourself. 6. Cut down on caffeine and sweets. Take a walk instead. Tell someone that you're going to do that. 7. Use basic techniques of planning, problem solving and decision making. 8. Concise guidelines are included in this guidebook. Tell someone that you're going to use these techniques. 9. Monitor the number of hours that you work in a week. Tell your boss, family and/or friends how many hours that you are working. 10. Write weekly status reports. Include what you've accomplished last week and plan to do next week. Include any current issues or recommendations that you must report to your boss. Give the written status report to your boss on a weekly basis. 11. "Wash the dishes". Do something you can feel good about.

89

Simple Techniques to Manage Time There never seems to be enough time in the roles of management and supervision. Therefore, the goal of time management should not be to find more time. The goal is set a reasonable amount of time to spend on these roles and then use that time wisely. 1. Start with the simple techniques of stress management above. 2. Managing time takes practice. Practice asking yourself this question throughout the day: "Is this what I want or need to be doing right now?" If yes, then keep doing it. 3. Find some way to realistically and practically analyze your time. Logging your time for a week in 15-minute intervals is not that hard and does not take up that much time. Do it for a week and review your results. 4. Do a "todo" list for your day. Do it at the end of the previous day. Mark items as "A" and "B" in priority. Set aside two hours right away each day to do the important "A" items and then do the "B" items in the afternoon. Let your answering machine take your calls during your "A" time. 5. At the end of your day, spend five minutes cleaning up your space. Use this time, too, to organize your space, including your desktop. That'll give you a clean start for the next day. 6. Learn the difference between "Where can I help?" and "Where am I really needed?" Experienced leaders learn that the last question is much more important than the former. 7. Learn the difference between "Do I need to do this now?" and "Do I need to do this at all?" Experienced leaders learn how to quickly answer this question when faced with a new task.

90

8. Delegate. Delegation shows up as a frequent suggestion in this guide because it is one of the most important skills for a leader to have. Effective delegation will free up a great deal of time for you. 9. If you are CEO in a corporation, then ask your Board for help. They are responsible to supervise you, as a CEO. Although the Board should not be micro-managing you, that is, involved in the day-to-day activities of the corporation, they still might have some ideas to help you with your time management. Remember, too, that good time management comes from good planning, and the Board is responsible to oversee development of major plans. Thus, the Board may be able to help you by doing a better themselves in their responsibilities as planners for the organization. 10. Use a "Do Not Disturb" sign! During the early part of the day, when you're attending to your important items (your "A" list), hang this sign on the doorknob outside your door. 11. Sort your mail into categories including "read now", "handle now" and "read later". You'll quickly get a knack for sorting through your mail. You'll also notice that much of what you think you need to read later wasn't really all that important anyway. 12. Read your mail at the same time each day. That way, you'll likely get to your mail on a regular basis and won't become distracted into any certain piece of mail that ends up taking too much of your time. 13. Have a place for everything and put everything in its place. That way, you'll know where to find it when you need it. Another important outcome is that your people will see that you are somewhat organized, rather than out of control. 14. Best suggestion for saving time - schedule 10 minutes to do nothing. That time can be used to just sit and clear your mind. You'll end up thinking more clearly,

91

resulting in more time in your day. The best outcome of this practice is that it reminds you that you're not a slave to a clock - and that if you take 10 minutes out of your day, you and your organization won't fall apart. 15. Learn good meeting management skills. Meetings can become a terrible waste of time. Guidelines for good meeting management are included later in this section. Role of "Gumption" Everything good usually starts with gumption. It's picking yourself up, deciding that you could be happier, that you want to be happier - and then doing one small thing to get you started and keep you going. Boredom and blaming are the opposite of gumption. Stress and time management start with gumption. It's the trying that counts. Poor time and stress management often comes from doing the same thing harder, rather than smarter.

92

CONCLUSION

93

CONCLUSION

From the above findings it has been analyzed that the employees who are desired to give better performance than their original performance are found more stressful than the others. Thus we can say that sharing your problems with your spouse or close friends is a better idea to reduce stress. While considering the point of view of entertainment it depends upon the mood of the employees. The entertainment is considered one of the most ultimate solutions to reduce stress. Most of the employees do not spend regular time in entertainment. This may be because they may not be getting time for entertainment or they may not be interested in the same. So the accuracy of data depends upon the response of the employees.

94

SUGGESTIONS

95

SUGGESTIONS
The suggestions are as follows:

1. Improve communication

Share information with employees to reduce uncertainty about their jobs and futures.

Clearly define employees roles and responsibilities. Make communication friendly and efficient, not mean-spirited or petty.

2. Consult your employees

Give workers opportunities to participate in decisions that affect their jobs. Consult employees about scheduling and work rules. Be sure the workload is suitable to employees abilities and resources; avoid unrealistic deadlines.

Show that individual workers are valued.

3. Offer rewards and incentives

Praise good work performance verbally and institutionally. Provide opportunities for career development.

96

Promote an entrepreneurial work climate that gives employees more control over their work.

4. Cultivate a friendly social climate

Provide opportunities for social interaction among employees. Establish a zero-tolerance policy for harassment. Make management actions consistent with organizational values.

Thus we can say that stress can be managed by giving proper attention towards employees, giving proper medical facility, counseling them etc.

97

LIMITATIONS

98

LIMITATIONS

The following limitations have been drawn which are as follows: Difficulty to find secondary data that exactly the needs of some specific research investigation. Difficulties in the identification of the source. Accuracy: It is observed that it is rather difficult to measure the degree of approximation used in the collection of information as well as the competence of the investigator in motivating the persons to supply the desired information. Error may be there in recording or transferring information from secondary sources. Faced little bit of difficulty in collecting the required data. Because of the very busy schedule our supervisor was unable to give us quality time The temperature was very high and scorching heat made the survey work was very difficult

99

BIBLIOGRAPHY

100

BIBILIOGRAPHY

Books : Anderson, C. R., Hellriegel, D., and Slocum, J. W., Jr. 1977. "Managerial response to environmentally induced stress." Academy of Management Journal 20: 260-272. Arnold, H. J., and Feldman. 1986. Organizational Behavior. New York: McGraw Hill. Bhagat, R. S. 1983. "Effects of stressful life events on individual performance effectiveness and work adjustment processes within organizational settings: A research model." Academy of Management Review. 8(4): 660-671. Kothari C.R, research methodology, Wishwa Prakashan, New Delhi, Second edition. McGrath, J. E. 1976. "Stress and behavior in organizations." In Handbook of Industrial and Organizational Psychology. Dunnett, M. D. (ed) Chicago: Rand McNally College Publishing. Varma .M.M & Agrawal R.K, Forward Publishing Company, New Delhi, Third edition. 101

Websites: o www.mindtool.com o www.en.wikipedia.org/wiki/Stress_(biology) o www.lifepositive.com/Mind/psychology/stress/stress.asp o www.degarmogroup.com/.../the-effects-of-stress-on-productivity

102