JOB SATISFACTION AT BANKS

Prepared By:

Ahmed Waqas Qureshi

Abbas Ahmed Panazai

Iqbal Achakzai

Khalid Khan

Tamoor Shah

Date: Saturday, July 10, 2010

JOB

SA

TIS

FA

CTIO

N A

T

BA

NK

S

Job Satisfaction at Banks

Presented to: Sir Jameel Ahmed

Presented by: Ahmed Waqas Qureshi

Abbas Ahmed Panazai

Iqbal Achakzai

Khalid Khan

Tamoor Shah

This report is prepared by the students of MBA, Session (2008-2010), 3rd Semester,Institute of Management Sciences, University of Balochistan Quetta

ACKNOWLEDGEMENTS

We are greatly thankful to Almighty Allah who enabled us to complete

this report successfully. We are very glad to Mr. Jameel Ahmed, who has

been very encouraging throughout the course and shared his precious

wisdom with us.

To,

Mr. Jameel AhmedCourse Instructor,Business Research

Saturday, July 10, 2010

SUBJECT: LETTER OF TRANSMITTAL

Respected Sir,

Attached is the report you requested during this semester, in which you asked us to prepare a report on the “Job Satisfaction at Banks”. So we transmit to you our report “JOB SATISFACTION AT BANKS”, which summaries our findings.

Our approach to this issue involved collection of data from the internet, different reports & books etc. After collection of the data we have read the data thoroughly and then compiled the data to form this report.

The recommendations about improvement of the job satisfaction of employees at banks is given in the end of the report in brief, still there is some overview of them in the executive summary.

We hope this report is satisfactory to you, keeping in view the span of our limited knowledge. As a group, we found the project interesting, challenging and exigent.Thank you for giving us opportunity to enlarge our learning ability and to experience the practical corporate world’s life.

Cordially submitted by,

Your obedient students

INTRODUCTION

This report provides the information about the factors which leads the employee from the job dissatisfaction to job satisfaction. Job is one of the most fundamental of life’s tasks (Csikszentmihalyi, 1992; Sweeney & Witmer, 1991). Research focusing on the bio psychosocial impacts of job satisfaction and dissatisfaction on the modern worker (for a summary see Sweeney & Witmer, 1991) suggests that one’s level of satisfaction with one’s job impacts upon one’s mental and physical health and overall satisfaction with life (Balzer, Kihm, Smith, Irwin, Bachiochi, Robie, Sinar & Parra, 1997; Csikszentmihalyi, 1992; Earnshaw, Amundson & Borgen, 1990; Kinnunen & Natti, 1994).Job satisfaction or dissatisfaction results from the exchange between the demands and the expectations of an organization, and of workers’ expectations and personal objectives. Workers and organization have relationships of reciprocity. The organization provides the means for the worker to cover a series of needs and to realize their personal aspirations. Workers provide the organization with the resources so that it may reach its objectives. We could define occupational satisfaction in the workplace as “a happy or positive emotional state resulting from the subjective perception of the occupational experiences of the subjects” (Locke, 1976). Job satisfaction refers to workers’ feelings about different aspects of job.Much of the research exploring job satisfaction suggests that satisfaction or dissatisfaction with one’s job or job is related to the work tasks being undertaken (Balzer et al., 1997). Research completed by Balzer and his colleagues suggests that satisfaction with one’s work tasks is the greatest predictor of overall job satisfaction. Further, it remains the greatest predictor of job satisfaction, independent of the specific work tasks being completed by the worker or the age or gender of the worker. However changes in the working conditions of modern employees, including increasing job hours, varying working arrangements and intensifying job demands (Allen, Herts, Bruck, & Sutton, 2000; Guest, 2002), matched with the segmenting and compartmentalizing of many workplace tasks (Hochschild, 1997); as well as the increasingly common current workplace rhetoric of, “do more, for less … and faster” have made it increasingly challenging, particularly for Pakistan’s younger workers, to find job satisfaction in the specific work tasks they undertake.Research examining the factors that impact upon an individual achieving and maintaining job satisfaction is widespread, and varied (e.g., Gardner, 2003; Guest, 2002; Oats & VellaBrodrick, 2003). However, within the 25 to 35 year old demographic; “Generation X” as this cohort has been labeled in popular literature; published research is less readily available. Research does suggest that workplace motivation for bankers is just as likely to be linked to intra-office social connectedness, as it is work task performance (Hays, 1999; Oats & Vsella-Broderick, 2003).The empirical evidence has proved that influence of material conditions on work dissatisfaction is minimal (the result being relevant only in case where these are Page 1 of 4

especially bad or good, or in which the worker has comparative data). However, type of work and lack of variety in the employment, are considered important factors in the evaluation of satisfaction. Routine, monotony, insecurity, limited usefulness and complexity are the characteristics that tend to be meaningful with regard to the differences observed in the occupational satisfaction between one group of workers and another. The type of work tends to be related to the centre of place of performance. This factor explains more than 20% of causes that determine occupational satisfaction (Diego et als., 1991)The present research describes the factors that results in the reduction of job dissatisfaction and increasing the satisfaction of the employees in the banking sectors. In this research comparison being made between the employees’ satisfaction and dissatisfaction at two different kinds of banks where Bank A is a commercial bank and Bank B is a part of Islamic Banking system. Focus is on the factors that greatly influence the dissatisfaction and satisfaction of the employees and on what ground they are different in the two banks stated.

PROBLEM STATEMENT

What are the factors which lead employees from Job dissatisfaction to Job satisfaction in Islamic Banks & Commercial Banks?

RESEARCH QUESTIONS

1. Do decrease in factors such as unfair pay, discrimination, hostility will reduce job dissatisfaction?

2. Do compensation and benefits will lead to job satisfaction?3. Does working environment increase job satisfaction?

OBJECTIVES OF RESEARCH

To describe the factors of job satisfaction of employees, in both commercial and Islamic Bank.

To describe the factors of job dissatisfaction of employees, in both commercial & Islamic Bank

To compare preferences of factors which lead to job satisfaction of employees of Islamic & Commercial Bank

THEORETICAL FRAMEWORKAccording to accomplished studies, the variable of work station is scarcely meaningful in the determination of occupational satisfaction. One of the especially satisfied groups is that which corresponds to the intermediate occupational

Page 2 of 4

categories. With respect to the relationship between job satisfaction and leadership, the participation level in decisions keeps a positive relationship with the satisfaction level. With respect to salary and safety & health in the employment, both variances have great influence upon job satisfaction. Safety in the employment occupies one of the first places, among the satisfaction factors. However, in relation to salary, it can be asserted that is not so much as source of job satisfaction as of dissatisfaction furthermore, workers in different scales evaluate their salaries in different ways. It varies very much depending on the organization that is analyzed and on the worker’s perception of equity in their salary (Samuel C. Certo, 1997).

RESEARCH DESIGN

This research is descriptive in nature as it describes the factors which reduce job dissatisfaction & those which lead to job satisfaction.The method adopted for data collection is the Self-Administrative Survey Approach. This approach is a communication method in which questionnaires are mailed, faxed or couriered to be self-administrative. This approach is chosen because 1 st it allows contact with otherwise inaccessible participants (e.g. CEOs etc.), 2nd it allows participants time to think about questions, & 3rd the advantage rapid data collection (Cooper & Schindler, 2006)

Convenience Sampling Technique, which is a non-probability sampling method, is used for the data collection in this report. Convenience sampling is the terminology used to describe a sample in which elements have been selected from the target population on the basis of their accessibility or convenience to the researcher. (N.Ross, 2007)

Reason for convenience sampling technique in this research is because the employees of banks are not readily available to answer such research question and we cannot focus on just some people as it will waste lots of time. So any employee that is available to answer the questions of our questionnaire we took him as a sample. The sample size for this research is 40 employees, i.e. 20 employees from each of the bank, & 3 branches of each bank are surveyed to collect the samples. A small sample was chosen because of the expected difficulty in contacting the employees due the less personal relationships in the banks selected for studying.

HYPOTHESISHO: The factors which lead employees from Job dissatisfaction to Job satisfaction in Islamic Banks & Commercial Banks are same

HA: The factors which lead employees from Job dissatisfaction to Job satisfaction in Islamic Banks & Commercial Banks are not same

Page 4 of 4