An Analysis of Psychological Well-being among Bank Employees: A Comparative Analysis of Public and Private Sector

Abstract

Psychological well-being is a crucial factor in the successful performance of any employee since interior feelings influence exterior performance. Psychological well-being is the subjective sensation of contentment, happiness, pleasure with life events and one's function in the workplace, a sense of accomplishment, usefulness, belongingness, and the absence of anxiety, discontent, or concern, among others. It highlights the positive aspects of growth and development. The primary goal of this research is to investigate the dimensions of psychological well-being and compare the levels of psychological well-being experienced by public and private sector bank workers in Jaipur City. To achieve the study's objectives, data was gathered at random from private and public sector bank personnel, with a sample size of 60 (N=60), 30 from public and 30 from private sector banks. Multiple correlation analysis is used to investigate goals and test hypotheses based on percentages, mean, and standard deviation. The research found that private bank staff had greater psychological well-being than public bank employees did. Self-acceptance, environmental mastery, meaningful relationships, and life purpose all have a substantial impact on both sectors' well-being. Future study may look at long-term patterns as well as the efficacy of therapies. Banks should promote employee well-being by implementing supportive policies, training, leadership support, and assistance programs to boost work satisfaction and organizational performance.