Factors that are influencing the Employee job satisfactions in private banking sector of Bangladesh: An empirical analysis

Abstract

In the modern era, tangible and intangible compensation, physical stress, lack of supervision, and workplace hygiene are the major factors in job satisfaction. One of the many challenges for the private banking sector in Bangladesh is to satisfy its employees, and the diligence of the research is to observe how different factors influence job satisfaction. As a result, the proposed study delineates many factors for employees, such as compensation, empowerment, work environment, and performance appraisal, that lead to positive and significant relationships in job satisfaction. The stimulus-response model was used as a theoretical research framework, and the private banking sector of Bangladesh was selected through quantitative methodology. Hence, the survey is conducted in a quantitative way, non-experimental and explanatory field study to analyze the relationship between the dependent and independent variables. The managerial employees of the private banking sector are the targeted group. The research results established a significant positive relationship between compensation policy, empowerment, performance appraisal, and employee job satisfaction. Whereas, the workplace environment has an insignificant positive correlation among job satisfaction, turnover rate, and productivity. Furthermore, an empirical analysis revealed that compensation policies, empowerment, and performance appraisal can maximize the level of employee job satisfaction, which leads to an increase in their sustainable productivity at work.