Employee Job satisfaction OF THE City Bank Limited

1.1 Overview of the Company

The City Bank Limited is the first private sector bank in Bangladesh. This brings about qualitative

changes in the sphere of Banking & Financial aspects; the bank has been operating since 1983 with an

authorized capital of BDT 1.75 billion. Today the City Bank serves its customers at home & abroad

with 88 branches spread over the country & about three hundred overseas correspondences covering

the entire major cities & business center of the world. The services encompass wide diversified areas

of trade. Commerce & industry which tailored to the specific need of customers & distinguished by an

exceptional level of prompt & personal attention. Over years the bank has expanded the spectrums of

its services. The extensive & ever growing domestic network provides the carries various product &

services to the doorsteps of millions.

The CBL was incorporated as a public limited company with limited on the 14th March.1983 & its formal inauguration was on March 27, 1983 under company Act, 1993 of Bangladesh with the primary objective to carry on all kinds of banking business.

Moreover City Bank is among the very few local banks which do not follow the traditional, decentralized, geographically managed, branch based business or profit model. Instead the bank manages its business & operation vertically from the head office through four distinct business divisions namely:

Corporate & Investment Banking

Retail Banking (including Cards)

SME Banking

Treasury & Market Risks

The bank is also very active in the alternative delivery area. It currently has 88 ATMs its own; &

ATM sharing arrangement with a partner bank that has 5 ATMs in place; SMS Banking; Interest

banking & so on . Its customer Call Center is in operation to help and assist the card user of the The

City Bank Limited. The bank has a plan to end the current year 2011 with100 own ATMs. Besides

this City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card.

The City Bank Limited has a distinguished Board of Directors which consists of thirteen successful

and reputed businessmen. Mr. Aziz Al-Kaiser, a top leading businessman, industrialist, pioneer

personality & entrepreneur of private sector's Bank in Bangladesh, is the Chairman of the Bank. Mr.

Kazi Mahmood Sattar a dynamic, nationally & internationally reputed Banker is the Managing

Director and CEO of the Bank.

The principal place of business is the registered office at the registered office of the bank is at Jiban

Bima Tower, 10, Dilkusha Commercial areas, Dhaka-1000. The bank is listed with Dhaka Stock

Exchange & Chittagong Stock Exchange. Recently this bank has brought a massive change in their

service system & changed its Logo. Now in short this bank is known as “City Bank”.

1.2 City Bank at a Glance:

SL. Par t i cu l ar D e t a i l

1 Name The City Bank Limited

2 Legal Status Public Limited Company

3 Date of Incorporation March 14, 1983

4 Formal launch March 27, 1983

5 Number of Branch 88

6 Number of ATM Booth 85

7 Number of SME Center 11

8 Total Manpower 3000

9 Authorized Capital (2010) 10,000 million

10 Paid-up capital (2010) 3,889 million

11 Reserve (2010) 7,630 million

12 Net Profit (2010) 1,849 million

13 Total Number of Share Outstanding(2010)

38.9 million

14 Market Value of Per Share (2010) 1,000 BDT

15 Earnings Per Share (2010) 34.59 BDT

1.3 Vision

The Finance Supermarket with a Winning Culture Offering Enjoyable Experiences

1.4 Mission

Offer wide array of products and services that differentiate and excite all customer segments.

Be the ‘Employer of choice’ by offering an environment where people excel and efficiency.

Continuously challenge processes and platforms to enhance effectiveness and efficiency. Promote innovation and automation with a view to guaranteeing and enhancing

excellence in service. Ensure respect for community, good governance and compliance in everything we do.

1.5 Objectives of CBL

Strategic Objectives:

Achieve positive Economic Value Added (EVA) each year.

To become the market leader in product innovation.

To become one of the top three Financial Institutions in Bangladesh in terms of cost efficiency.

To become one of the top five Financial Institutions in Bangladesh in terms of market share in all significant market segments we serve.

Financial Objectives:

Achieve a return on shareholders’‟ equity of 20% or more on average

Deposit extreme competition among banks operating in Bangladesh, both local and international the

City Bank limited has made a remarkable progress practically in every sphere of its functions. The

activities of the City Bank Ltd are very implicit and vast comparing to that of other bank in the

country today. The theme of the bank is “Making Sense of Money”.

The prime objective of The City Bank Ltd is to create a strong capital base, to earn good profit and

pay satisfactory dividend to honorable Shareholders, to achieve the objectives, the bank works for

Clients to open an account in the bank through their wit & intelligence as well as it have intention to

pursuit of excellence in the climate of continuous improvement. Because is to maintain the reputation

through their customer services oriented facilities. To achieve this desired goal it believes “the

excellence is never line of ending”, it also believes that’s its strategic plans and business will

its strength in competitive environment. Improving the quality of banks assets by identifying

potential good browsers.

1.6 Strategies of the City Bank

CBL believes in the practice of Market-Oriented Strategy Planning, developing & maintaining a

viable fit between the organization’s objective, skills & resources. The aim of such approach is to

shape & reshape the bank’s business & services so that they yield target profit & growth. The

Strategic planning of CBL consists of two organizational levels.

Location Based StrategyBusiness Level Strategy

Locati on B ased Strat egy:

Since the growth & profits of banking business largely depend upon the locations of branches where

large concentration of other businesses & industries are involved, CBL main Strength is its location

based strategy.

B usi ness Level St rat egy:

The business strategy of the bank is to strengthen its retail business, following a conservation lending

approach. But the Bank’s major portion of the profit generates from its retail banking & SME

Banking.

1.7 Managerial Hierarchy

TopManagement

Junior LevelManagement

Mid Level Management

Executive LevelManagement

Chairman Vice Chairman Director Managing Director Assistant Secretary

Deputy Managing Directors Senior Executive Vice President Executive Vice Preside Senior Vice President Consultant First Vice President Vice President Senior Assistant Vice President Assistant Vice President

First Assistant Vice President Senior Executive Officer Executive Officer Principle Officer

Senior Officer Management Trainee Officer Junior Assistant Officer

1.8 Functional Division of CBL

The Bank accomplishes its functions through different functional divisions/ departments. The divisions/departments along with their major functions are listed below:

Finan c i al D i v i s i o n :

Financial planning, budget preparation and monitoring

Payment of salary

controlling inter-branch transaction

Disbursement of bills

Preparation of financial reports and annual reports

Preparation/Review of returns and statements

Maintenance of Provident Fund, Gratuity, Superannuation Fund Reconciliation

C r ed i t and Ri sk M a nage m ent

Loan administration

Loan disbursement Project evaluation

Processing and approving credit proposals of the branches Documentation, CIB (Credit Information Bureau) report etc

arranging different credit facilities

providing related statements to the Bangladesh Bank and other departments

Human Resource Division Recruiting

Training and development

Compensation, employee benefit, leave and services rules program and upgration

Placement and performance appraisal of employees

preparing related reports

reporting to the executive committee

Promotional campaign & press release

I n f o r m a ti on T ech n o l ogy ( IT) D epa r tm e n t :

Software Department

Network management and expansion Software and hardware management

Data entry & processing Procurement of hardware & maintenance

B r anch e s c o n t r o l & Inspe c t i on D i v i s i o n :

controlling different functions of the branches & search for location for expansion Conducting internal audit & inspection both regularly & suddenly

Ensuring compliance with Bangladesh Bank (BB) ,monitoring BB‟s inspection & externalAudit report

R e t a i l Di v i s i o n :

ATM card, credit & system operation & maintenance

SWIFT operation

Credit Card operation

Customer & vendor relationship

1.9 Branches of CBL

CBL is one of the fastest growing banks in Bangladesh. Now 97 branches are operating all over Bangladesh.

o 47 Branches in Dhaka Division

o 18 Branches in Chittagong Division

o 6 Branches in Comilla Division

o 10 Branches in Bogra Divivsion

o 6 Branches in Khulna Division

The network of CBL Engages itself for providing best quality banking service in retail,

commercial, corporate and Islamic banking segments. The country’s top enterprises,

multinational and local corporations and financial institutions are served by CBL. With a total

asset of BDT 15, 035, 89 million is among the top performing local banks in Bangladesh.

Product/ Service Offering Of CBL

The services encompass wide diversified areas of trade, commerce & industry that tailored to the

specific needs of the customers and are distinguished by an exceptional level of prompt and

personal attention. Over the years The City Bank Limited has expanded the spectrums of its

services. The extensive and ever growing domestic network provides and carries various

products and services to the doorsteps of millions.

The City Bank Limited (CBL) engages in wide range of activities from small scale lending to

large industrial project financing. CBL involves export and import financing. It involves other

very many services. Its range of activities at a glance is as follows:

Deposit Loans and advances Foreign Other services

Current account

Savings account

Short term deposits

Fixed deposit

Different Scheme

Non resident foreign

currency deposit

account

Resident foreign

currency account

Term loan

Working capital loan

Cash credit

Overdraft

Packing credit & trust

receipt

House building finance

Import finance

Export L/C

Import L/C

Foreign

Remittance

Safe custody (locker)

Travelers Cheque

Demand draft Pay

order Telegraphic

transfer Selling and

buying foreign

currency

The City Bank Limited (CBL) has already introduce some new Banking products like duel

currency Credit Cards, ATM and Online services which has created attraction among the clients.

The Bank is going to introduce real time Internet, SMS and phone banking systems with all

modern delivery channels at an early date.

For significant performance, The Bank has earned national & recognition. The City Bank

Limited (CBL) was one of the 12 Banks of Bangladesh among the 500 Banks in Asia for its

asset, deposit & profit as evaluated by “ASIA WEEK” in the year 2000. Other than that, The

City Bank Limited (CBL) received the “Top Ten Company” award from the prime Minister of

the people’ s Republic of Bangladesh in the year 1992-93.

Introduction

2.1 Background of the study

It has become essential for every person to have some idea on the bank and banking procedure.

As our educational system predominantly text based, inclusion of practical orientation program

is an exception to the norm. From practical knowledge, we will be able to know real life

situations and start a career with some practical experience. Masters of Business Administration

(MBA) is a professional course. The course is designed with an excellent combination of

practical and theoretical aspects. After completing MBA, certain times are preserved for

internship.

As a student of MBA, Internship is an academic requirement. For internship every student is

required to work in a selected institution to enhance ones practical knowledge and experiences.

For the requirement of my course I was assigned to prepare report on” Employee job satisfaction

in the context of The City Bank ltd”.

Basically, this report Is highlighted on Employee job satisfaction of the bank.

2.2 Origin of the report

This report is an internship report prepared as a requirement for the completion of BBA

program. The Report titled “A Relational Study on Employee job Satisfaction in the context of

The City Bank Ltd” outcome of three months long internship program at The City Bank Ltd. The

report topic was approved by the faculty supervisor to satisfy the organizational requirements

and fulfillment of the internship program. This report has been prepared under both of their

direct supervision.

2.3 Objective of the Study

Broad Objective:

The objective of this report is to analyze the “Employee job satisfaction in the context of The City

Bank ltd”

Specific Objectives:

To understand the overall employee job satisfaction of the bank.

To know the employee feedback about their job satisfaction.

To categorize the factors dependable for satisfaction or dissatisfaction of the bank human

resources.

2.4 Scope of the Report

As I was assigned to the The City Bank ltd, there is enough scope of the study. The report covers the

topic” Employee job satisfaction in the context of The City Bank ltd”. To conduct a study on

employee job satisfaction of CBL, I have gathered valuable information from CBL, and I have also got

some information from website of The City Bank Ltd.

Despite this topic there are many sectors for working and analysis, like:

HR Department in CBL

Concept about Job Satisfaction

Job description of CBL.

2.5 Limitations

There were numeral troubles I faced for the duration of the report writing, like,

Inadequate reporting because of shortage of time.

At period the respondents felt bothered to give time on this survey.

Work pressure in the office was another limitation restricting this report from being

more detailed or analytical.

There are plenty of other issues like but the researcher could not take in them in the

study because period of the report writing.

3 Literature Review

A rising literature on developing countries addresses some of these issues by analyzing

subjective wellbeing data related to employment. Job satisfaction is indeed becoming an

increasingly popular subject in the economic literature as it is found to be relevant to

understanding individuals’ behavior and to predict labor market mobility (Freeman, 1978;

Clark,2001; Opkara, 2002). Economists have been particularly interested in investigating the

relationship of job satisfaction with other economic variables, including unionism (Borjas,

1979;Meng, 1990), income and education (Clark and Oswald, 1996; Blanchflower and Freeman,

1997;McCue & Gianakis, 1997), and job security (Blanchflower and Oswald, 1999;

Blanchflower and Oswald, 1998; Blanch flower, 2000; Clark and Blanch flower et al., 2001). Job

satisfaction is the employees cognitive, emotional, and evaluative reactions on the way to their

jobs (Greenberg &Baron, 1997; Robbins, 1998). In other words, it is the overall positive affect or

feelings that individuals have toward their jobs (Arnold & Feldman, 1986). According to McCue

and Gianakis (1997) the elements of job satisfaction includes the actual work and its outcomes,

or the intrinsic job satisfaction; pay, benefits, and other rewards directly associated with doing

the work, or the extrinsic job satisfaction; and the environment in which the work is done,

including relation with coworkers organizational culture, the organization’s policies and

procedures, participation in decision making, involvement with the organization, and job status.

Newstrom &Davis (2000) viewed job satisfaction as a set of favorable and unfavorable feelings

or emotions with which employees view their work. Important aspects of job satisfaction may

include- pay, one’s supervisors, the nature of tasks performed, an employee’s co-workers or

team, and the immediate working conditions (George & Jones, 1996; Smith, Roberts, & Hulin,

1976; Newstrom & Davis, 2000; Newstrom & Davis, 2000). According to Slocum &Woodman

(1995) overall job satisfaction is a collection of numerous attitude toward various aspects of the

job, represents a general attitude (Slocum &Woodman, 1995; George and Jones, 1996). Thus,

when this attitude is positive, employees are said to be satisfied and dissatisfied exists when the

attitude is negative (Moorhead & Griffin, 1989). Streers and Black (1994) viewed job

satisfaction as a pleasure or positive emotional state resulting from the appraisal of one’s job or

job experience. It results from the perception that an employee’s job actually provides what he or

she values in the work situation (Streers & Black, 1994).

R e la t io n s h ip b et w ee n R e la t io n s h ip w i t h Sup er v isor a n d Job S a t i s f a ct i o n

Superior-subordinate communication is an important influence on job satisfaction in the

workplace. The way in which subordinates perceive a supervisor's behavior can

positively or negatively influence job satisfaction. Communication behavior such as

facial expression, eye contact, vocal expression, and body movement is crucial to the

superior-subordinate relationship (Teven, 2006). Nonverbal messages play a central role

in interpersonal interactions with respect to impression formation, deception, attraction,

social influence, and emotional. Nonverbal immediacy from the supervisor helps to

increase interpersonal involvement with their subordinates impacting job satisfaction.

The manner in whichsupervisors communicate with their subordinates non-verbally

may be more important thanthe verbal content (Teven, 2006). Individuals who dislike

and think negatively about their supervisor are less willing to communicate or have

motivation to work whereas individuals who like and think positively of their supervisor

are more likely to communicate and are satisfied with their job and work environment. A

supervisor who uses nonverbal immediacy, friendliness, and open communication lines

is more likely to receive positive feedback and high job satisfaction from a subordinate.

Conversely, a supervisor who is antisocial, unfriendly, and unwilling to communicate

will naturally receive negative feedback and create low job satisfaction in their

subordinates in the workplace.

R e la t io n s h ip b et w ee n Wo r k i n g E n vi r o n m e n t a n d Job S a t is f a ct ion

One of the most important aspects of an individual’s work in a modern organization

concerns the management of communication demands that he or she encounters on the

job. Demands can be characterized as a communication load, which refers to “the rate

and complexity of communication inputs an individual must process in a particular

time frame.” Individuals in an organization can experience communication over-load

and communication under- load which can affect their level of job satisfaction.

Communication overload can occur when “an individual receives too many messages

in a short period of time which can result in unprocessed information or when an

individual faces more complex messages that are more difficult to process.” Due to

this process, “given an individual’s style of work and motivation to complete a task,

when more inputs exist than outputs, the individual perceives a condition of overload

which can be positively or negatively related to job satisfaction. In comparison,

communication under load can occur when messages or inputs are sent below the

individual’s ability to process them.” According to the ideas of communication over-

load and under-load, if an individual does not receive enough input on the job or is

unsuccessful in processing these inputs, the individual is more likely to become

dissatisfied, aggravated, and unhappy with their work which leads to a low level of job

satisfaction.

R e la t io n s h ip b et w ee n F i n a n c ial R e w a r d a n d J o b S a t is f a ct ion

Previous researches showed that rewards are strong determinant of job satisfaction. For

instance, Gerald and Dorothee (2004) found that rewards are significantly related to

professionalism and job satisfaction. They supported the argument that job satisfaction

for professionals is derived in part from what professional perceives from job. Job

satisfaction is influenced by job rewards (Clifford, 1985). Rewards can be derived both

in intrinsic and extrinsic forms (Rehman et al., 2010). Kalleberg, (1977) argued

that rewards related to financial part are more significantly related to job satisfaction.

According to comparison processes theory an individual is said to have some reference

standard against which a job is judged (Walker, 1980). These references are determined

largely by a person’s internal motivation drivers. The size and direction of the

difference between the employed standard and the actual situation determines the level

of job satisfaction experienced. An employee motivated by monetary reward may, for

example, derive considerable satisfaction from a job that pays more than a previous job,

or a similar position the person compares it to.

F i n a n c ial R e w a r d s P r o vi d e d b y T h e Ci t y Ba n k Li m i te d t o t h e E m p loy ee s

All the City Bank Limited employees receive competitive salary packages. The

contractual employees also enjoy competitive base pay. On over that, if the employees

can meet more than 60% of the target given by the bank they are eligible for extra

getting fringe benefits from the bank. Full-time associates earn generous salary options.

Provident Fund benefits are given to the employees of the bank as per the rule of the

bank. The employees are also eligible for the gratuity fund.

4 Methodologies

The first step in the research I can survey on CBL and try to understand their Employee

job satisfaction effective or not. Second step I have to collect different data from primary

source and secondary source. Finally I have provided the recommendation and

conclusion.

4.1 Research Type

This is a Descriptive Research, which briefly analyze the “Employee job satisfaction in

the context of The City Bank ltd.”

4.2 Sources of data

To prepare this report all the necessary information collected from both primary and

secondary sources of data.

Primary Sources

Secondary Sources

4.3 Primary Sources of data

In the preparation of this report, data was collected from different primary sources and

questionnaire for the HR officer and some data were also obtained by my day-to day

activities in a bank. Employee job satisfaction related data were collected through

discussion with the employees of HR department.

4.4 Secondary Sources Of data

Secondary sources of data are two kinds:

Internal: annual reports of CBL Other published documents of the bank, The City Bank’s

ltd.

External: Books, articles, Journals, Newspaper, Web Browsing.

4.5 Sampling Design

Population: the target population of this study was employee in Dhaka city who are

serving as a employee of CBL corporate center.

Sample size: I have selected 30 employees as sample.

4.6 Technique Measurement

Technique of me measurement used by the researcher in the study is five point liker type

scales:

Strongly

Disagree

Disagree Neutral Agree Strongly

Agree

Weight 1 Weight 2 Weight 3 Weight 4 Weight 5

Generated data from the survey were processed with the help of MS-Excel. Here we have used

for presenting data and using statistical tools like mean, standard Deviation, percentage, graphics

and table.

CHAPTER 5

Analysis and Implementation of Data

1. Worker Autonomy assigns me to works according to my skills and qualification.

Remarks Number of Respondent Percentage

Strongly Disagree 0 0

Disagree 10 33

Neutral 11 37

Agree 4 13

Strongly Agree 5 17

Total 30 100

33%

37%

13%

17%

Worker Autonomy assigns me to works according to my skills and qualification

Strongly Disagree Disagree Neutral Agree Strongly Agree

Interpretation:

From above data 17% employee answer “Strongly Agree”, 13% Employee answer “Agree”, 37% Employee Answers “Neutral”, 33% employee answer “Disagree” and 0% answers “Strongly Disagree”.

2. My position allows me to make independent decisions.



Disagree 0 0

Neutral 11 37

Agree 9 30

Strongly Agree 10 33

Total 30 100

37%

30%

33%

My position allows me to make independent decisions


Interpretation:


3. Job promotions within the company are fair and reasonable.



Disagree 0 0

Neutral 12 40

Agree 10 33

Strongly Agree 8 27

Total 30 100

40%

33%

27%

Job promotions within the company are fair and reasonable.


Interpretation:


4. Training programs are necessary for me for developing my skills



Disagree 0 0

Neutral 6 20

Agree 9 30


Total 30 100

20%

30%

50%

Training programs are necessary for me for developing my skills


Interpretation:


5. Career development opportunities help me to apply my talents.



Disagree 3 10

Neutral 5 17

Agree 13 43

Strongly Agree 9 30

Total 30 100

10%

17%

43%

30%

Career development opportunities help me to apply my talents.


Interpretation:


6. Feedback from supervisor helps me to improve my performance.



Disagree 13 43

Neutral 5 17

Agree 9 30

Strongly Agree 0 0

Total 30 100

10%

43%

17%

30%

Feedback from supervisor helps me to improve my performance.

Strongly Disagree (SADisagree (D)Neutral (N)Agree (A)Strongly Agree (SA)

Interpretation:


7. My seniors value my tasks.



Disagree 7 23

Neutral 9 30

Agree 4 13

Strongly Agree 2 7

Total 30 100

27%

23%30%

13%

7%

My seniors value my tasks


Interpretation:


8. Practical suggestions’ help me to develop my skills.



Disagree 7 23

Neutral 2 7

Agree 8 27

Strongly Agree 9 30

Total 30 100

13%

23%

7%27%

30%

Practical suggestions’ help me to develop my skills.


Interpretation:


9. It is very important for the organization that managers show fairness and respect in their interactions with employees.



Disagree 7 23

Neutral 13 43

Agree 8 27

Strongly Agree 2 7

Total 30 100

23%

43%

27%

7%

It is very important for the organization that managers show fairness and respect in their interactions with employees.


Interpretation:


10. Communication between senior managers and employees is good in my organization.



Disagree 1 3

Neutral 7 23

Agree 9 30


Total 30 100

3%

23%

30%

43%

Communication between senior managers and employees is good in my organization.


Interpretation:


11. Employees get rewards for their best performance in my organization.



Disagree 0 0

Neutral 4 13

Agree 6 20


Total 30 100

13%

20%

67%

Employees get rewards for their best performance in my organization.


Interpretation:


12. My overall experiences regarding my institution are very delighted.



Disagree 0 0

Neutral 2 6

Agree 8 27


Total 30 100

7%

27%

67%

My overall experiences regarding my institution are very de-lighted.


Interpretation:


13. I am pleased that I have the opportunities to apply my talents and expertise.



Disagree 0 0

Neutral 2 6

Agree 10 34


Total 30 100

7%

33%

60%

I am pleased that I have the opportunities to apply my talents and expertise.


Interpretation:


CHAPTER 5

MAJOR FINDINGS

Most of the employee stays at Neutral position against Worker Autonomy assigns me to

works according to my skills and qualification.

Most of the employee stays at Neutral position against their position allows them to

make independent decisions.

Most of the employee stays at Neutral position against Job promotions within the

company are fair and reasonable.

Most of the employee stays at Strongly Agree position against Training programs are

necessary for me for developing my skills.

Most of the employee stays at Agree position against Career development opportunities

help me to apply my talents.

Most of the employee stays at Disagree position against Feedback from supervisor helps

me to improve my performance.

Most of the employee stays at Neutral position against their seniors value their tasks.

Most of the employee stays at Neutral position against It is very important for the

organization that managers show fairness and respect in their interactions with

employees.

Most of the employee stays at Strongly Agree position against Communication between

senior managers and employees is good in my organization.

Most of the employee stays at Strongly Agree position against Employees get rewards

for their best performance in my organization.

Most of the employee stays at Strongly Agree position against My overall experiences

regarding my institution are very delighted.

Most of the employee stays at Strongly Agree position against I am pleased that I have

the opportunities to apply my talents and expertise.

Chapter 6

Recommendation

Employee Orientation – One of the best ways to have satisfied employees is to make sure

they’re pleased from the get-go. Offering a thorough orientation will ensure expectations are

realistic and that new staffers don’t come in with rose-colored glasses that will quickly fade.

Proper onboarding encourages positive attitudes and can reduce turnover.

Positive Work Environment – An upbeat workplace is a necessity. If the workspace isn’t

positive, you can’t expect the workers to be. Encouraging one another, avoiding

micromanagement, giving positive feedback and ensuring criticism is constructive are all ways to

keep the environment a place where employees can do more than survive – they can thrive!

Provide Competitive Benefits – Fair wages are important, but competitive benefits are also

critical to keeping your workforce satisfied. If your benefits package is thin, employees may look

for other opportunities with firms that are more generous. Beyond insurance, benefits such as flex

time, paid holidays and personal days are important factors to employee satisfaction.

Workforce Engagement – Employees that don’t find their work interesting or don’t feel they are

contributing to the mission of the firm will not be engaged. For employees to be satisfied, they

must feel like they are part of something bigger than just what their individual work tasks are.

Include staffers in goal setting and how they fit in the corporation fabric to increase

engagement and satisfaction.

Develop Skills – Everyone needs something to working toward. Stagnation is unfulfilling.

Employees have more potential than their current level of functionality. Encouraging employees

to fulfill that potential will increase engagement and satisfaction. Whether it’s training

opportunities, mentoring, online courses or external training, encourage staff to always be

improving their skills!

Recognition & Rewards – Employees enjoy an atta-boy and it need not be a public show to

mean something to employees. Encourage supervisors and managers to acknowledge employees

deeds on a daily basis. Also implement a formal program company-wide to recognize top

achievers in every job category. Healthy competition can boost morale, encourage hard work

and increase satisfaction and retention.

Track Job Satisfaction – Don’t sit back and just hope that employees are satisfied – put some

data behind it. Offer anonymous online surveys or mobile surveys to effectively track how

http://www.instant.ly/blog/2013/03/how-to-develop-an-effective-mobile-survey-sample/

http://jobscience.com/company/blog/3-excuses-hr-gives-avoiding-data-driven-workforce-behavior-predictions

http://jobscience.com/company/blog/3-excuses-hr-gives-avoiding-data-driven-workforce-behavior-predictions

http://jobscience.com/company/blog/5-tricks-supercharge-employee-retention

http://thinkbluethinking.com/blog/wordpress/?p=354

http://thinkbluethinking.com/blog/wordpress/?p=354

http://www.ancile.com/blog/employee-engagement-and-the-bottom-line/

http://www.ancile.com/blog/employee-engagement-and-the-bottom-line/

https://www.metlife.com/about/press-room/index.html?compID=96584

https://www.metlife.com/about/press-room/index.html?compID=96584

http://www.standard.net/stories/2013/03/12/keep-good-employees-through-positive-work-environment

http://www.standard.net/stories/2013/03/12/keep-good-employees-through-positive-work-environment

http://www.hrvoice.org/the-expectation-of-excellence-creating-a-high-performance-culture/

http://www.hrvoice.org/the-expectation-of-excellence-creating-a-high-performance-culture/

employees feel about benefits, recognition, supervisor feedback and other aspects that contribute

to employee satisfaction. This allows you to improve, tweak and monitor satisfaction levels to

reduce turnover and save the company money.

Chapter 7Conclusion

After analyzing the results of this study is found to be sustained as significant relationship

is found between financial reward and job satisfaction. It means that the C i ty Bank Limited

employees are more concerned with what the job is actually paying to them. Some previous

study (Kalleberg, 1977; Rehman et al., 2010) also came up with same findings which

support the results too. The City Bank Limited has very attractive salary package, fringe

benefits, provisional fund and others for retired workers. So, these factors result the high

relationship between financial reward and job satisfaction. Although all the variables have

impact on job satisfaction, financial reward has more importance to the employees. Since, the

employees of this bank are more concerned about the financial reward; the issues should be

taken more care of by the top management.

References

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Documents

Employee Job satisfaction OF THE City Bank Limited