Identification of Critical Factors Regarding the Job Satisfaction among the Employees in Bangladesh: A Study on Bank Industry

Abstract

The emergence of globalization has changed the business world to a large
extent. The competition among today’s business firms is undoubtedly high in almost
every industry. The success or survival of today’s business firms is largely based on
increased productivity which requires a skilled and motivated workforce. Therefore,
the term ‘job satisfaction’ is being given importance by the management of today’s
business firms. A productive employee is an asset for the firm who can only be
retained through motivational techniques. However, job satisfaction is a
multidimensional subject. It is more practical than theoretical. This study attempts to
identify the level of job satisfaction among the bank employees of Bangladesh. The
study has revealed some common factors such as interesting job assignments,
friendly working conditions, competitive remuneration package, job security, good
relation with the boss lead to employee satisfaction, although some variations were
found between the employees of Nationalized Commercial Banks (NCBs) and
Private Commercial Banks (PCBs). This occurs due to individual as well as
organizational differences. The task of management is to create a congenial working
atmosphere in the organization and monitor the significant conditions regarding
each specific job on a regular basis that will ultimately lead to employee job
satisfaction which is directly related to the success and survival of an organization.