Job Satisfaction of Bank Employees in Bangladesh

This study attempts to evaluate job satisfaction of bank employees in Bangladesh. It focuses on the relative importance of job satisfaction factors and their impacts on the overall job satisfaction of employees. In this study the targeted population is employees of Bank. The Banks include private and public Bank. The data was collected and administered by means of a structured questionnaire. The study showed that organizational factors such as work conditions, pay, fairness, and promotion significantly influenced employee job satisfaction in Bank. However, individual factors such as age and gender did not significantly influence employee job satisfaction in Banks. The overall job satisfaction of the bank officers is at the positive level appeal to their customers. In such situation, job satisfaction of bank officers becomes an important issue that has to be taken care of in order to achieve ultimate goals of the banking sector in Bangladesh.


Introduction
In recent years, economic development in the world makes the rapid development of the Bangladesh bank industry. However, this rapid expansion has also generated a lot of internal management problems in Banks. One special issue is the low level of employee job satisfaction that brought difficulties in increasing service quality. Some of the problem exist in current Bank are: long working hours, work pressure, low level of treatment, bad working environment, less promotion opportunities, work unfairness etc. Employee's job satisfaction affects the quality of Bank service, has affect the degree of customer satisfaction. Thereby great efforts to improve employee's job satisfaction, creates the satisfied customer with satisfied employees. Although there are many studies on employee job satisfaction, they are related to all aspects of employee job satisfaction. The employee satisfaction theory and employee satisfaction measurement tools and measurement indicators, as well as the impact of employee satisfaction factors, but in Bangladesh there are very limited studies on employee job satisfaction in Banks, specifically with respect to factors affecting job satisfaction. In this paper, through combining theoretical and empirical research, trying to find out factors affecting employees job satisfaction, Thereby laying the theoretical foundation for the practice, provide for future research on investigate factors affecting job satisfaction in Bank. By studying the factors affecting job satisfaction in Banks, we can effectively help the enterprise to understand the factors affecting employee job satisfaction; by understanding employee demands and requirements, one can also help the enterprise effectively manage employees and increase the management efficiency, increase the employee's loyalty and achieve a higher customer satisfaction. Objectives 1. To determine the influence of work conditions on employee job satisfaction in Banks. 2. To identify the influence of pay on employee job satisfaction in Banks. 3. To examine the influence of fairness on employee job satisfaction in Banks. 4. To investigate the influence of promotion on employee job satisfaction in Banks. 5. To determine the influence of age on employee job satisfaction in Banks. 6. To determine the influence of gender on employee job satisfaction in Banks.

Scope of the study
This study covers the factors affecting job satisfaction in Banks. The organizational factors include work conditions, pay, fairness and promotion; individual factors include age and gender, they are the independent variables; job satisfaction is the dependent variable.

Literature Review
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (1924)(1925)(1926)(1927)(1928)(1929)(1930)(1931)(1932)(1933), primarily credited to Elton Mayo of the Harvard Business School, sought to find the effects of various conditions (most notably illumination) on workers' productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction.Scientific management also had a significant impact on the study of job satisfaction. Principles of Scientific Management argued that there was a single best way to perform any given work task. The initial use of scientific management by industries greatly increased productivity because workers were forced to work at a faster pace. However, workers became exhausted and dissatisfied, thus leaving researchers with new questions to answer regarding job satisfaction. Some argue that Maslow's hierarchy of needs theory, a motivation theory, laid the foundation for job satisfaction theory. This theory explains that people seek to satisfy five specific needs in life -physiological needs, safety needs, social needs, self-esteem needs, and self-actualization. This model served as a good basis from which early researchers could develop job satisfaction theories. There are many methods for measuring job satisfaction. By far, the most common method for collecting data regarding job satisfaction is the Likert scale (named after RensisLikert). Other less common methods of for gauging job satisfaction include: Yes/No questions, True/False questions, point systems, checklists, and forced choice answers. This data are sometimes collected using an Enterprise Feedback Management (EFM) system. The Job Descriptive Index (JDI), created by Smith, Kendall, &Hulin, is a specific questionnaire of job satisfaction that has been widely used. It measures one's satisfaction in five facets: pay, promotions and promotion opportunities, coworkers, supervision, and the work itself. The scale is simple, participants answer either yes, no, or can't decide (indicated by '?') in response to whether given statements accurately describe one's job. The Job in General Index is an overall measurement of job satisfaction. It is an improvement to the Job Descriptive Index because the JDI focuses too much on individual facets and not enough on work satisfaction in general. Other job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The MSQ measures job satisfaction in 20 facets and has a long form with 100 questions. The JSS is a 36 item questionnaire that measures nine facets of job satisfaction. Finally, the Faces Scale of job satisfaction, one of the first scales used widely, measured overall job satisfaction with just one item which participants respond to by choosing a face.

Methodology of the Study
The information was collected by using the quantitative questionnaires. Firstly, the research process has been identified and the research problems have been formulated. Then, there were also a discussion about the instruments to be used and the decisions that should be made for achieving the purpose of the research. After that, the research design was created to answer the research objectives or hypotheses. As a quantitative study, conclusions are based on the questionnaires distributed to respondents. This quantitative study used statistical data as a medium to obtain the needed information. This study aims to determine the relations between the independent variables and the dependent variable. The findings and the conclusion of the study will solely depend on the full utilization of the statistical data collected.In this study the population targeted employees of Banks (The banks include Private and Public Banks). A simple random sampling technique was used in this study to select 50 employees from different Banks. While a wide range of instruments are used for measuring job satisfaction, section A will consist of questions related to the biographical information of the employees. Section B is related to overall job satisfaction, section C is related to factors affecting job satisfaction. Section B required respondents to rate items based on a 5-point Response format that is related to general factors affecting employee job satisfaction in Banks. For example: 1 = Very unhappy, 2 = somewhat happy, 3 = Neither happy or unhappy, 4 = Somewhat happy, 5 = Very happy Section C is related to the key factors that affects the employee job satisfaction. A rating scale from 1 (strongly disagree) to 5 (strongly agree) was used. 1= strongly disagree, 2 = disagree, 3 = neutral, 4 = agree, 5 = strongly agree All the 45 items were stated in the English language. The full questionnaire for the study is shown in Appendix A. methods were be used to analyze the data that we collected from the respondents. In this study, the researcher used statistical software SPSS for the statistical analysis. In this study, the responses and information collected from the survey were tested using statistical techniques such as correlation analysis and ANOVA. The Karl Pearson correlation analysis identified and analyzes the nature, direction and signification of the relations between the variables that being measured on interval and ratio data. The hypotheses of research analyzed with ANOVA.

Hypothesis Development
On the basis of factors affecting job satisfaction, the following hypotheses are developed: Hypothesis1:Work condition significantly influences employee job satisfaction in Banks. Hypothesis 2:Pay significantly influences employee job satisfaction in Banks. Hypothesis 3:Fairness significantly influences employee job satisfaction in Banks. Hypothesis 4:Promotion significantly influences employee job satisfaction in Banks. Hypothesis 5:Age significantly influences employee job satisfaction in Banks. Hypothesis 6:Gender significantly influences employee job satisfaction in Banks. In terms of overall level of employee satisfaction in Banks, the study found that almost one fourth of the respondents perceived employee satisfaction to be "Very unhappy "and "Somewhat happy". Moreover the frequencies of responses don't differ significantly. The mean score is 2.96 and Standard deviation is 1.442. So the overall level of employee job satisfaction is satisfactory.  Total 12.500 49 Hypothesis1:Work condition significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that Work condition does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of work condition(0.000) is lowerthan significance level 0.05. So the null hypothesis is rejected and hence, we conclude that work condition has significant influences on employee job satisfaction in Banks. Hypothesis 2:Pay significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that pay does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of pay (0.000) is lower than significance level 0.05. So the null hypothesis is rejected and hence, we conclude that pay has significant influences on employee job satisfaction in Banks. Hypothesis 3:Fairness significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that fairness does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of fairness (0.000) is lower than significance level 0.05. So the null hypothesis is rejected and hence, we conclude that fairness has significant influences on employee job satisfaction in Banks. Hypothesis 4:Promotion significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that promotion does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of promotion (0.000) is lower than significance level 0.05. So the null hypothesis is rejected and hence, we conclude that promotion has significant influences on employee job satisfaction in Banks. Hypothesis 5:Age significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that Age does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of age (0.444) is higher than significance level 0.05. So the null hypothesis is accepted and hence, we conclude that age has no significant influences on employee job satisfaction in Banks. Hypothesis 6:Gender significantly influences employee job satisfaction in Banks. It is assumed from the Null Hypothesis that gender does not significantly influences employee job satisfaction in Banks. As table 5 shows significance of gender (0.394) is higher than significance level 0.05. So the null hypothesis is accepted and hence, we conclude that gender has no significant influences on employee job satisfaction in Banks.

Limitations of the Study
Researcher was really unable to collect enough information due to official restrictions of the selected banks. Many things were so confidential that was not entitled to access there. The data obtained from this research is only applicable for Banks in Bangladesh and did not include other sectors of the economy. Thus, the recommendations and suggestions may not be applicable to other country's Banks as well as other sectors.

Recommendations
Opportunities for future study have emerged as a result of this study. In addition to overcoming the limitations of data gathering, additional research is needed to observe the relationships between job satisfaction and work conditions, pay back, fairness, and promotion. The limitations have contributed to the lack of arriving at many strongly statistically proven findings and conclusions.For future research the following suggestions should be considered: 1) It is suggested that for future research a random sample be used to compare several public sector and private sector institutions using a larger sample.
2) The research is needed to further investigate the potential relationships and effects these variables and other extraneous variables, such as role ambiguity, job level, contingent rewards and co-work have on job satisfaction.
3) Qualitative investigators must conduct research regarding the job satisfaction of Banks. This research method will provide a different perspective of employees, job satisfaction and contribute a more in-depth understanding of how employees view their job.Based on this study, and analysis of factors affecting Bank employee's job satisfaction, this paper makes the following recommendations to Bank managers: 1) Create favorable work conditions for the company. Guide the staff to communicate effectively, build a good interpersonal environment within the company, and create good work conditions. 2) To improve the pay treatment of Bank employees. Banks should improve the overall wage level of employees; on the other hand, two shifts is a way to reduce the workload of staff.
3) To improve fairness in Banks: create a scientific performance appraisal system in the organization. Utilize the other developed countries' scientific performance systems, and use these systems to evaluate employee work performance and evaluate employee service quality. 4) Concern about the employees education and training. Bank employees generally have high levels of education; organizations have to provide the employees with effective training them in science and cultural knowledge, and let the employees acquire practical knowledge.

Conclusions
This study focused on the factors that affected job satisfaction in Banks; the central objective of this study was to establish the impact of the chosen variables: work conditions, pay, fairness and promotion and relationships on employee job satisfaction in Banks. A literature survey was made to form the theoretical premises for the study.The rationale for the study was simply an observation that some employees seem better adjusted and happier at work and are able to cope well with the demands of the working environment while others are not. Another observation is that management seems not to be aware of what motivates their subordinates and to strategically utilize those motivational tools to maintain high levels of job satisfaction, high productivity and morale.Through the analysis of Bank employee job satisfaction we can conclude the following: Bank employees are younger, mostly married, with a high level of education, and short years of work experience; there are 9 general factors affecting employee job satisfaction in Bank, which are: work conditions, fairness, promotion, pay, education level, marriage, age and gender, and work experience. There are 4 key factors affecting employee's job satisfaction in Bank: they are: work condition, pay, fairness, and promotion. These four The Bank is good quality of work environment 1 2 3 4 5 18.
The atmosphere in the Bank is cheerful 1 2 3 4 5 20.
The Bank is best quality of management 1 2 3 4 5 22.
The Bank provide good work equipment 1 2 3 4 5