"Navigating Human Resource Practices: Insights into Job Satisfaction in Tamil Nadu's Non-Banking Financial Companies"

Abstract

Because of the vital responsibilities they play in nation-building and financial inclusion, non-banking financial companies are playing a significant role in encouraging inclusive growth in the nation. The primary concentration of NBFCs is on loan-related activities, particularly gold loans, and advances, as well as shares, bonds, debentures of various kinds, leasing, hire-purchase agreements, and the insurance industry. Respectively, they constantly view their employees as the foundation of their business and work to ensure employee satisfaction. However, the Human Resource Department has a difficult time getting to know its workers, which means that the majority of NBFCs experience greater attrition rates. Thus, 450 respondents were used in this study to identify and comprehend the human resource policies and practices used by NBFCs and determine the relevant links between these practices and job satisfaction. For this descriptive study, data were gathered from 450 employees of top Gold Loan NBFCs in Tamilnadu State using a stratified random selection method. Correlation analyses were used to create and test research hypotheses. The findings show that job satisfaction is strongly correlated with performance evaluation, extrinsic and intrinsic motivation, talent acquisition and selection, employee engagement, and human resource development.