A STUDY ON JOB SATISFACTION AND MORALE OF COMMERCIAL BANKS IN BANGLADESH

Jamal Nazrul Islam, Haradhan Kumar Mohajan, Rajib Datta,
Int. J. Eco. Res., 2012, 152-172 ISSN: 2229-6158

A STUDY ON JOB SATISFACTION AND MORALE OF COMMERCIAL BANKS IN
BANGLADESH
Jamal Nazrul Islam
Emeritus Professor, Research Centre for Mathematical and Physical Sciences
University of Chittagong, Bangladesh
Haradhan Kumar Mohajan
Assistant Professor, Premier University, Chittagong, Bangladesh. E-mail: haradhan_km@yahoo.com
Rajib Datta
Department of Finance, Faculty of Business Studies, Premier University,
Chittagong, Bangladesh. E-mail: supta_part@yahoo.com
___________________________________________________________________________
Abstract
In today’s changing world the business environment is changing rapidly. The emergence of e-commerce and
development of information and technology plays a significant role in the nature of work as well as their attitude
towards the organization. We have been experiencing a tremendous growth in banking sector of Bangladesh
during the last decade of the twentieth century. Private commercial bank plays a vital role in the overall
development of our economy. Though it is a challenging profession, people working in this sector have
increased notably during last few years. In recent time banking sectors have become the first choice for career
development. In consideration of that factor, this study investigates job satisfaction among employees of all
public and private commercial bank limited. The research method used an anonymous survey that was
voluntarily completed and returned to the researcher. The study determined that morale and job satisfaction
plays a vital role in overall performance of the employees in the workplace. The study also determined that
social status, supportive colleagues and feeling secure about the job were the top three best reasons for working
in the banks. It was also determined that pay, decision making authority, and promotional policy were the three
top priorities for improving the work environment.
Keywords: Job satisfaction, Morale, Social status, Supportive colleagues, Pay, Decision making authority,
Promotional policy.
_________________________________________________________________________________________

INTRODUCTION economic advantages to business
Job satisfaction can be defined as an organizations (Aronson et al. 2005). A
individual’s general attitude toward his or satisfied, happy, efficient, dedicated and
her job (Robbins et al. 2003). Price (1997) hard working employee is the biggest asset
defined job satisfaction as the degree to of any organization. Vijayashreea and
which employees have a positive affective Jagdischchandrab (2011) tried to identify
orientation towards employment by the the type of locus of control (i.e. internal or
organization. Cranny et al. (1992) defined external) present in Public Sector Units
job satisfaction as an affective (emotional) (PSU) in Bangalore of India on job
reaction to a job that results from the satisfaction of PSU employees. Their
incumbent’s comparison of actual research indicates that there is a positive
outcomes with those that are desired. This correlation between internal locus of
later definition seems to be generally control and job satisfaction as well as
agreed upon throughout the literature. Job between external (other) locus of control
satisfaction is the degree to which people and job satisfaction. They show that
enjoy in doing their job. internal control is the term used to
Job satisfaction plays an important role in describe the belief that control of future
improving the financial standing of outcomes resides primarily in oneself and
organizations. Dissatisfaction amongst external control refers to the expectancy
higher-level employees will most likely that control is outside of oneself, either in
reflect on lower-level employees thus the hands of powerful other people or due
resulting in economic, financial and to fate/chance. Akinbobola (2011)
morale problems which indicates that a expressed that there is significant
positive relationship between job independent prediction of job involvement
satisfaction and job level conveys certain by age, job satisfaction and some

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Int. J. Eco. Res., 2012, 152-172 ISSN: 2229-6158

characteristics which are supervision, and 1 i.e., total 7 Islamic Banks (IBs) in
fringe benefit, contingent reward, Bangladesh. After March 2008 there are
operating procedure, co-workers and six thousand three hundred eight (6,308)
communication. She discussed the branches of schedule bank in our country
implications of the result in line with (Bank and Financial Institutions’
corporate governance and conflict Activities 2004-2005, Finance Division,
resolution. Mokaya and Gitari (2012) have Ministry of Finance, People’s Republic of
tried to determine the effect of workplace Bangladesh). In spite of thousands of
recreation on employee performance at people working in this sector, there is not
Kenya Utalii College and take attempt to enough research going on to know the
cover aspects of job satisfaction, service actual job satisfaction of employees of this
quality, customer satisfaction, and sector. For the success of banking sector of
employee productivity. Varatharaj and Bangladesh it is essential to manage
Vasantha (2012) analyzed the women human resource effectively and to find
working in service sector of Chennai city of whether its employees are satisfied or not.
India and tried to identify the various Morale of employee reflects the overall
factors which help to maintain work life attitude toward their work, i.e., how much
balance among women employees in service committed an employee towards his
sector. Daneshfard and Ekvaniyan (2012) organization and his job, as well as his
discussed the comparison job satisfaction willingness to achieve the goal of the
and organizational commitment in all of organization and its shareholders. Efficient
employees (including managers, staffs and human resource management and
faculties), student areas, education and maintaining higher job satisfaction level in
research, financial and administrative banks determine not only the performance
branches of the delegation in Islamic Azad of the bank but also affect the growth and
University of Kogiluyeh and Boyer performance of the entire economy of the
Ahmad province of Iran. country.
In today’s competitive business world,
satisfied employees are treated as the STATEMENT OF PROBLEM
essential human capital. Though it is very In today’s changing world the business
easy to measure the financial performance environment is changing rapidly. In the
of a firm by using various financial tools age of information and technology, we
and techniques, but it is very difficult to have seen change has occurred in every
determine whether the organization doing aspect of our life from personal to
the right thing for its employees to remain business, government to private, national
satisfied in their workplace. There were so to international, so the nature of people
many extensive research conducted to and their expectation from the job is also
measure job satisfaction of employees changing. We have come across various
working an organization. During the last human resources and behavioral issues
few decades banking sector of Bangladesh which we think play a significant role in
plays a dominant role in the financial their job satisfaction and morale. The
service industry. At present, there are purpose of the study is to describe the
forty-nine (49) schedule banks among current level of job satisfaction and morale
those, four (4) are Nationalized of the employees.
Commercial Banks (NCBs), five (5) are
Specialized Banks (SBs), thirty (30) are OBJECTIVES
Private Commercial Banks (PCBs) and ten This study will focus on the following
(10) are Foreign Commercial Banks three objectives:
(FCBs) in Bangladesh. Among those 30 • to determine the level of job
PCBs and 10 FCBs there are respectively 6 satisfaction reported by employees,

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• demographics will be identified such pleasurable or positive emotional estate
as age, gender, marital status, religion, resulting from the appraisal of one’s job
department and tenure to verify if they experience.” Job satisfaction is a result of
relate to job satisfaction, and employee’s perception of how well their
• to determine the relationship between job provides those things that are viewed
factors of job satisfaction by using a as important. It is generally recognized in
descriptive as well as inferential the organizational behavior field that job
statistical tool in relation to overall satisfaction is the most important and
satisfaction ratings. frequently studied attitude. There are three
important dimensions to job satisfaction as
RESEARCH HYPOTHESIS follows (Locke 1976):
It is hypothesized that factors of job • Job satisfaction is an emotional
satisfaction and morale will be associated response to a job situation. As such, it
with performance of the employees in all cannot be seen; it can only be inferred.
commercial banks. Job satisfaction is • Job satisfaction is often determined by
important for organizations to address due how well outcomes meet or exceed
to its impact on absenteeism, turnover, and expectations. For example, if
pro-social citizenship behaviors such as organizational participants feel that
helping co-workers, helping customers and they are working much harder than
being more cooperative with all social ties other in the department but are
(Karl and Sutton 1998). Literature also receiving fewer rewards, they will
shows that increased productivity was probably have a negative attitude
found to be related to higher satisfaction toward the work, the boss and/or co-
(Wilkinson and Wagner 1993). Job is not workers and they will be dissatisfied.
only just obeying the boss; it provides On the other hand, if they feel that they
internal satisfaction and is something for are being treated very well and are
which employees bear to live. being paid equitably, they are likely to
Organizations put efforts and provide have a positive attitude toward the job,
excellent conditions for satisfying their and then they will be job satisfied.
employees (Jain et al. 2011). Job • Job satisfaction represents several
satisfaction today is a topic of major related attitudes (Mitchell and Larson
interest for many researchers and is an 1987).
organizational variable that should be A satisfied employee tends to be absent
understood and constantly monitored for less often, to make positive contributions
the welfare of any organization (Eyupoglu and to stay with the organization very
and Saner 2009). eagerly (Hakim 1993). But a non-satisfied
employee may be absent more often, may
LITERATURE REVIEW experience stress that disrupts co-workers,
The study will summarize current and may be continually looking for
literature on job satisfaction and morale, another job. Contrary to what a lot of
explore theories related to job satisfaction, managers believe, however, high levels of
and discuss the importance of being aware job satisfaction do not necessarily lead to
of employee’s current satisfaction levels. higher levels of productivity. One survey
Throughout this discussion the definitions indicated that, also contrary to popular
of job satisfaction and morale stated above opinion, Japanse workers are less satisfied
will be applied. with their jobs than their counterparts in
the USA (Lincoln 1989).
Job Satisfaction and Morale The history of job satisfaction stems back
Locke (1976) gives a comprehensive to the early 1900’s with the situationist
definition of job satisfaction as “a perspective on job satisfaction. This

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perspective states that satisfaction is 1969” (Gregson 1991). This measure is
determined by certain characteristics of the basis itself on five facets of job
job and characteristics of the job satisfaction.
environment itself. This view has been The first facet is the work itself,
present in the literature since the first satisfaction with work itself is measured in
studies by Hauser, Taylor and the various terms of the core job characteristics such
projects at the Western Electric plants in as autonomy, skill variety, feedback, task
Hawthorne (Cranny et al. 1992). These identity, and task significance (Hackman
studies follow the assumption that when a and Oldham 1975).
certain set of job conditions are present a Supervision, the second facet, is measured
certain level of job satisfaction will follow. in such ways as how supervisors provide
The Hawthorne Studies are considered to feedback, assess employees’ performance
be the most important investigation of the ratings, and delegate work assignments.
human dimensions of industrial relations Co-workers, the third facet, are measured
in the early 20th century. They were done in terms of social support, networking, and
at the Bell Telephone Western Electric possible benefits attached to those
manufacturing plant in Chicago beginning relationships (Cranny et al. 1992).
in 1924 through the early years of the Pay, the fourth facet, is an important
Depression. The Hawthorne plant created source of satisfaction because it provides a
an Industrial Research Division in the potential source of self-esteem as well as
early 1920’s. Personnel managers the generic opportunity for anything
developed experiments to explore the money can buy (Brockner 1988).
effects of various conditions of work on Obviously satisfaction with pay is
morale and productivity (Brannigan and measured primarily by current income but
Zwerman 2001). Today, reference to the also by opportunities for salary increases.
“Hawthorne Effect” denotes a situation in Promotion is the final facet and the one
which the introduction of experimental that the JDI explicitly assesses how
conditions designed to identify salient perceptions about the future can affect job
aspects of behavior has the consequence of satisfaction. Today the facets of the JDI
changing the behavior it is designed to are generally assessed by modifying the
identify. The initial Hawthorne effect adjective checklist and using a Likert scale
referred to the observation that the on statements such as, “opportunities for
productivity of the workers increased over advancement are plentiful” measured from
time with every variation in the work one (strongly disagree) to five (strongly
conditions introduced by the experiments agree) (Cranny et al. 1992).
(Brannigan and Zwerman 2001). Simply According to a study, ‘5-Year 1992-1997
stated when people realize that their and 10-Year 1987-1997’, the 100 “best
behaviors are being watched they change companies to work for”, those with the
how they act. The development of the highest levels of satisfaction and moral
Hawthorne studies also denotes the outperformed the 300 largest US
beginning of applied psychology, as we companies over both 5- and 10-year
know it today. These early studies mark periods (figure-1).
the birth of research on job satisfaction
relating to ergonomics, design and Another popular and highly researched
productivity. measure of job satisfaction is the
One of the most popular and researched Minnesota Satisfaction Questionnaire
measures of job satisfaction is the Job (MSQ). The MSQ can be scored for
Descriptive Index (JDI). “The JDI is a 72- twenty facets; scores from one question for
item adjective checklist type questionnaire each facet provide a single overall
developed by Smith, Kendall, and Hulin in composite score. The MSQ is commonly

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used in conjunction with the Minnesota career changers, that is, adults with
Importance Questionnaire (MIQ). considerable work experience in one or
Thompson and Blain (1992) expressed that more chosen occupations who are
“These instruments were designed for use dissatisfied with their work and remain
with adult career counseling clients with undecided about their career future.” The
work experience. They are particularly MIQ assesses the relative importance of
useful for clients that might be called each vocational need to the respondent.

30%

25%

20%
100 Best

100 Best
15%
Russell 300

Russell 300
10%

5%

0%
5-Year 1992-1997 10-Year 1987-1997
Figure 1: Impact of job satisfaction.

The MSQ, a measure of job satisfaction, satisfaction can be vital to organizational
assesses the degree of respondent success (Cranny et al. 1992). Proper
satisfaction with each need in their current management can only be attained through
work environment. Scoring for the MSQ is knowing what affects job satisfaction.
relatively simple: percentile scores of 25 A study conducted in Europe, Asia, Africa,
or lower indicate low satisfaction, and the Americas reported similarities
percentile scores of 26 to 74 indicate among workers. Yankelovich Partners
moderate satisfaction, and scores of 75 or (1998) survey reported that “10,339
higher indicate high satisfaction. The MIQ workers were surveyed across 10
uses scale scores ranging from –1.0 to 3.0. European countries, Russia, Japan, and the
Low importance is indicated by scores USA. Researchers consistently identified
below 0.0, moderate importance is the same top five key attributes in a job,
indicated by scores between 0.0 and 1.4, ability to balance work and personal life,
and high importance is indicated by scores work that is truly enjoyable, security for
of 1.5 or higher (Thompson and Blain the future, good pay or salary and
1992). enjoyable co-workers. Across the four
Job satisfaction is one of the most studied major geographic regions studied, workers
constructs in the areas of industrial specifically emphasized the importance of
organizational psychology, social potential advancement and the opportunity
psychology, organizational behavior, to build skills as a way to maintain
personnel and human resource employability and job security”.
management, and organizational A survey polling members of the
management. This makes sense in that Association for Investment Management
knowledge of the determinants, the and Research found that 81% of the
consequences, and other correlates of job managers said they were satisfied or very

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satisfied with their job. When asked to standpoint, job satisfaction is important
identify the factors that create positive due to its impact on (1) absenteeism (2)
feelings about their job, most managers turnover, and (3) pro-social citizenship
named ‘professional achievement, behaviors such as helping coworkers,
personal or professional growth, the work helping customers, and being more
itself and their degree of responsibility’ cooperative. Thus, to redesign jobs, reward
more important than compensation. systems, and human resource management
Factors they viewed as creating negative policies that will result in optimum job
feelings about their jobs were ‘company satisfaction and productivity, managers
policies, administration, relationships with need to know what employees value.” In
supervisors, compensation and the order to know what employees value it is
negative impact of work’ on their personal necessary for organizations to assess and
lives (Cardona 1996). In order to decrease pay attention to current levels of job
some of these negative feelings and satisfaction.
increase productivity it has been proposed Current studies on job satisfaction are
to reduce the number of work days plentiful with some interesting results. In
employees miss by increasing job one study the relationship among career
satisfaction, redesigning disability plans experience, life satisfaction, and
and involving supervisors in management organizational factors for managers of
(Maurice 1998). healthcare organizations is explored.
Employers interested in remaining Within this study a two-stage Delphi
competitive in today’s world economy analysis of American College of
need to concentrate on retaining quality Healthcare Executives (ACHE) members
employees. Walker (1998) expressed that identified nine domains of important job
“Rewarding employees for work well have skills, knowledge, and abilities necessary
done increases satisfaction and for success as healthcare managers. The
productivity.” Simple practices like this nine domains, ranked in order of
can aid the atmosphere of the work importance, are ‘cost/finance, leadership,
environment. Metzler (1998) cited that professional staff interactions, healthcare
“Giving recognition and rewards outside delivery concepts, accessibility, ethics,
the paycheck such as recognizing key quality/risk management, technology, and
employees by name may also help.” marketing’ (Wiggins and Bowman 2000).
McDonald and Hutcheson (1999) have Notice leadership and professional staff
shown that “Other research indicates that interactions falling in second and third in
customer satisfaction and loyalty are order of importance for domains necessary
excellent predictors of profitability…the for success. The same study shows that
strongest predictors of customer managers aspiring to become CEOs and
satisfaction: employees’ general those who do not reported similar levels of
satisfaction with their jobs and employees’ job satisfaction. It is also stated that
satisfaction with their work/life balance.” personal satisfaction from one’s
Again it is important to note that job employment, peer recognition,
satisfaction is subject to change. Osipow advancements, and positive feelings about
(1968) indicated that “Results of studies personal success are excellent subjective
comparing differences between age groups measures of career success (Wiggins and
and level of job satisfaction report an Bowman 2000).
increase in job satisfaction with age.” Karl Another study focusing on organizational
and Sutton (1998) expressed that “From an citizenship behaviors (OCB) analyzing
employee’s standpoint, job satisfaction is a peer ratings of altruistic OCB in a sample
desirable outcome in itself. From a of 96 US nurses showed that the
managerial or organizational effectiveness contextual variables of job satisfaction,

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organizational commitment, and trust in and recognition for achievement,
management were pertinent for the autonomy, growth and development, the
participants (Wagner and Rush 2000). quality of students, the reputation of the
Organ (1990) indicated that “Such institution and one’s colleagues,
behaviors have been described as having responsibility, the interaction between
an accumulative positive effect on students and teachers and its effect on
organizational functioning.” Job students’ learning, and the work itself.
satisfactions, pay satisfaction, and trust in Factors that prevent job dissatisfaction
management and peers, and organizational describe relationships to the context or
commitment as antecedents of OCB in US environment in which individuals work,
populations. Of these attitudes, job representing such variables as
satisfaction has been most consistently interpersonal relationships, salary, tenure,
associated with OCB. Feeling satisfied policies and administration, rank,
reflect appraisals of the fairness of the supervision, working conditions, the fit
social exchange that the employee has between the faculty role and the person
with the organization. It is also suggested involved, and collective bargaining (Tack
that satisfaction is a by-product of leader and Patitu 1992). A recent report on job
fairness and job satisfaction is one of the satisfaction among American teachers
most reliable predictors of OCB (Wagner identified that more administrative support
and Rush 2000). and leadership, good student behavior, a
Until recently most researches on job positive school atmosphere, and teacher
satisfaction were done in the industrial autonomy as working conditions
sector with attempts to adapt finding to associated with higher job satisfaction. A
higher education. While the above findings weak relationship was found between
have relevance, job satisfaction for faculty faculty satisfaction and salary and benefits.
must be examined. Given the impending Research also shows that demographic
shortage of prospective faculty to fill the variable such as age and gender have little
numerous vacancies, the topics of job or no significant impact on job satisfaction
satisfaction for faculty, recruitment, and (National Center for Education Statistics
retention must be given attention. 1997).
Consequently, university officials and Folami and Bline (2012) discussed in their
current faculty in higher education must research the evidence on the link between
recognize the factors that lead to job job satisfaction and employee affective
dissatisfaction among faculty and outcomes, including turnover and job
eliminate them; as well as, recognize the performance. They examine the
factors that increase job satisfaction and association between task complexity,
enhance them (Tack and Patitu 1992). Low organizational context variables of
levels of satisfaction and morale can lead centralization, organizational complexity,
to decreased teacher productivity and formalization, and environmental
burnout, which is associated with a loss of uncertainty with job satisfaction.
concern for and detachment from the Some workers are satisfied with their work
people one works with, decreased quality and are poor performers. Of course, there
of teaching, depression, greater use of sick are employees who are not satisfied but are
leave, efforts to leave the profession, and a excellent performers (figure-2).
pessimistic and dehumanized perception of
students (Mendal 1987).
The research suggests that internal
stressors on faculty include achievement

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causes
1. Job satisfaction Job Performance
“The Satisfied worker is more productive”

is caused by
“The more productive worker is satisfied”

causes
“There is no specific direction or relationship”

Figure 2: Satisfactions and performance relationships, Source: Gibson, Ivancevich and
Donnely 1997, p-109.

Theories of Job Satisfaction
A number of theories exist which relate to job satisfaction. The following are the relevant
theories of job satisfaction which are highlighted in brief manner:

The Facet Model of Job Satisfaction

Job Facet Example Description
Achievement The extent of a feeling of accomplishment.
Creativity Being free to come up with new ideas.
Recognition Praise for doing a good job.

Hertzberg’s (Hertzberg 1966) Motivator-Hygiene Theory of Job Satisfaction
When Motivator needs are met, workers will be satisfied; when these needs are not met,
workers will not be satisfied.
When Hygiene needs are met, workers will not be dissatisfied; when these needs are not met,
workers will be dissatisfied.

Two-Factor Theory of Job Satisfaction
Figure 3: Two factor theory of job satisfaction.

Hygiene factors
• Quality of supervision
• Pay
• Company policies
• Physical working conditions
• Relations with others
Job
Motivators
• Promotion opportunities
• Opportunities for personal growth
• Recognition
• Responsibility
• Achievement
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Two Views of Job Satisfaction

Figure 4: Two views of job satisfaction.

The Discrepancy Model of Job what one thinks the job should be like,
Satisfaction what one expected the job to be like, what
To determine how satisfied they are with one wants from a job, or what one’s
their jobs, workers compare their job to former job was like.
some ideal job. This ideal job could be

Job Satisfaction as a Steady State

Figure 5: Job satisfaction as a steady state.

The Dispositional Model of Job • research by Staw and Ross has
Satisfaction established the longitudinal stability of
The dispositional model of job satisfaction job satisfaction, and
being as follows: • twin studies suggest a weak genetic
• the dispositional model suggests that basis for job satisfaction.
some people are inherently more
satisfied than others,

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METHODOLOGY Data Collection/Instrumentation
The research study will be conducted on We collected the primary data through
personal interview of the employees of the personal interview of the selected
organization, who are working more than 2 respondents of public and private banks
years, as well as a questionnaire used to be of Bangladesh. At the same time a
collected various information related with questionnaire consisting of number of
job satisfaction and morale, and questions related with job satisfaction and
observation method will be used in various morale were given to select respondents of
sensitive issues to know the actual public and private banks of Bangladesh.
behavioral aspects of employee. The secondary data are mainly collected
from Annual Report of various banks and
Specific Procedures bank website, published journal, internet
Several procedures needed to be publication, and various publications of
completed in order for this study to occur. Bangladesh Bank as well as Bank and
First, a research proposal needs to submit Financial Institutions’ Activities. The
to the respective authority for getting the instrument uses a five point Likert scale to
green signal from head office. Then, rank the items.
before conducting personal interviews The ranges are as follows: (1) strongly
prior notice should be given as well as disagree, (2) disagree, (3) neutral, (4)
questionnaire will be prepared in the mean agree, and (5) strongly agree.
time by considering all the relevant
information required proving the research Data Analysis
hypothesis. Then, data collected through The collection of respondent’s response
questionnaire as well as personal was analyzed by using Microsoft Excel
interviews will be check to find out the Sheet. The following manipulations were
acceptable one. Then we have to edit and carried out on the data: mean, standard
code the data for our convenient use in the deviation, co-efficient of variance,
research report, at this stage it is necessary frequencies, and chi-square test (tables 5, 6
to check the consistency by using various and 7).
techniques then we have to enter the data
in the computer for statistical analysis with RESULTS
the help of descriptive as well as Employee’s Morale and Job Satisfaction
inferential tools. We take an effort to study Survey was composed of 36 questions
the job satisfaction level among employees designed to elicit information on the work
of selected private and public banks of environment. The first part of the
Bangladesh. questionnaire was based on demographics
such as age, gender, marital status,
Population and Subjects department, and number of years with the
At present there are many branches of organization. The first 19 questions were
commercial banks in Bangladesh. Among based on a Likert scale and coded as
the working employees of all commercial numbered in the methodology section.
banks, the total numbers of respondent The following 12 questions were about
were 23 and selected participants were the what are the most important reasons
permanent and working in the organization behind choosing to work in the
for more than 2 years and especial organization (table-1). Levels of
emphasis were given on those employees satisfactions are as follows: 1= Highly
whom are in charge of various dissatisfied, 2 = Moderately dissatisfied, 3
departments. A random selection process = Neutral, 4 = Moderately satisfied, 5 =
was used to select those respondents Highly satisfied.
among employees of the banks.

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1 2 3 4 5
1 How would you rate your job satisfaction within the Department?
2 How would you rate the management style of your Manager?
3 Do you feel Management allows you to perform your job effectively?
4 Do you currently voice any concerns or issues in your work area to
management?
5 Did you receive a response to your concerns about your voice?
6 Do you feel staffing levels in your Department/Division are adequate?
7 Do you have the opportunity for beneficial job related training?
8 Are you satisfied with the current evaluation process of your
organization?
9 Do you think promotional opportunities are handled fairly?
10 Do you feel Acting Pay is handled fairly and equitably in your
Department?
11 Are you provided the proper tools and training to perform your job?
12 Do you feel appreciated for the job you perform by Management?
Table 1: First 12 questions are based on a Likert scale.

The next 7 statements are about the opinions of respondents about the working environment
(table-2). The respondents are advised to put tick (√) in the box.

Highly Moderately Satisfied Dissatisfied Highly
Satisfied Satisfied Dissatisfied
1 Nature of work
2 Reward system
3 Support from the
superior
4 Support from
colleagues
5 Working environment
6 Decision making
authority
7 Promotional
opportunity
Table 2: The rest 7 statements are based on a Likert scale.

In the middle of questionnaire there are 12 dichotomous questions to cross check the
respondent’s response (table-3). In the following 12 questions respondents are advised to put
tick (√) on Yes or No box.
Yes No
1 Do you think that it is a challenging job?
2 Is salary justifiable in proportion to work?
3 Are you satisfied with authority and responsibility given to you?
4 Are you feeling secure in your job?
5 Is relationship with peers and supervisors congenial?
6 Will you leave your present organization if you get a better chance with higher
salary?
7 Do you have enough scope to show your ability and loyalty towards your
organization?
8 Do you like to tell others about your present profession?
9 Do you think that it is respective job in our society?
10 Do you think you can achieve your goal by working in this organization?
11 Is adequate information available to perform the job effectively?
12 Is there any available opportunity for advancement?

Table 3: The 12 questions to cross check the respondent’s response.

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The last 5 statements are closed end questions to know the way of expressing dissatisfaction
and overall level of satisfaction of individual employee (table-4). The following 5 statements
are about their experiences and advised to put tick (√) in the box.

Highly Moderately Satisfied Dissatisfied Highly
Satisfied Satisfied Dissatisfied
1 This company is a pretty
good place to work
2 I can get ahead in this
company if I make the effort
3 My job makes the best use
of my abilities
4 I know what my boss
expects of me
5 I think I have made the right
decision to work here

Table 4: To know the way of expressing dissatisfaction and overall level of satisfaction of
individual employee.

The questionnaire was hand delivered to Moreover, the attitude of any employee
the different departments of the banks. affects a lot. One gets satisfaction in any of
Fifteen surveys out of 23 were returned for the activities depending upon how he/she
a response rate of sixty-five percent (65%). perceives the situation and what is
The purpose of the study is to describe the expected in exchange of effort. There may
current level of job satisfaction and morale be the difference between two employees,
and its relationship to performance of working at a different place and on
permanent employees of the banks. different cadres. It all depends upon
viewing of the situation and the effect of
Research Findings rest of the factors which are crucial at any
Job satisfaction is the result of effect of so point of time. A display of the satisfaction
many factors. The terms are highly levels for the employees is given below
personalized, as the level of satisfaction which contains the Microsoft Excel Sheet
differs from time to time and situation. printout of the encoded data.

Co-efficient of variance Rank order in terms of
Factor x δ (COV) Mean
A-1 3.87 0.96 0.248 4
A-2 3.40 0.85 0.250 8
A-3 3.47 0.86 0.248 6
A-4 4.33 1.12 0.259 1
A-5 4.13 1.05 0.253 2
A-6 4.07 1.02 0.251 3
A-7 3.47 0.86 0.248 7
A-8 3.53 0.87 0.247 5
Average 3.78 0.95 0.250

Table 5: Aggregated results of the survey of the factor types A.

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Chi-square test:
H 0 = there is no significant effect of employee morale in employee’s performance; Chi-
square ( χ 0.05 = 3.841 ) at 5% significance level.
2

Observation
Expected
observation (O − E )2 (O − E )2
(O) (E) E
1 3 4 1.333333
2 3 1 0.333333
1 3 4 1.333333
0 3 9 3.000000
2 3 1 0.333333

Table 6: Reports of the survey by Chi-square test, where χ 0.05 = 3.841 .
2

Hypothesis is rejected i.e., employee morale significantly affects the performance in the
organization.

Factor x δ COV Rank order in terms of Mean

B-1 4.4 1.149 0.261 2
B-2 4.5 1.176 0.263 1
B-3 4.1 1.023 0.251 5
B-4 4.3 1.096 0.257 4
B-5 4.4 1.149 0.261 3
Average 4.3 1.118 0.258

Table 7: Aggregated results of the survey of the factor types B.

This data contains the information that was opportunity, reward system, decision
collected, analyzed, and used to determine making authority, and basic salary.
the important constructs relating to • The lowest rated (lowest mean)
employee satisfaction. After analyzing the satisfaction level deemed important by
tables, we have observed that employees the employee were: basic salary,
are moderately satisfied and the deviation decision making authority and reward
among the respondents response is very system for which mean remains bellow
insignificant as result they are very much 3.5 (5 point Likert scale as mentioned
consistent with each other. The primary in Methodology)
descriptive results for each factor are as • The mean age of the respondents was
follows: approximately 29 years old. There
• Overall the results are positive. The were twelve male and three female
employee views this organization as a respondents.
good place to work. • The mean number of years working
• The top rated (highest mean listed with the banks was approximately
first) satisfaction level deemed three (3) years.
important by the employee were: • Due to the purpose of this study the
support from superior, support from primary relationship examined was the
colleagues, working environment, correlations between all the variables
nature of work, promotional

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and the rating of overall job Frequency: Total
satisfaction (overall this is a good Respondents Frequency
place to work).
• Several associations were found that
support the hypothesis that constructs Pay/Salary 15 15
job satisfaction and morale will be
associated with the performance of the Training 15 12
employees.
• The bulk of the instrument composed Fair promotional
of questions rated on a Likert scale handling 15 11
provided some interesting information.
• The qualitative data involving the three
best things about working at the SIBL EXAMINING THE DETERMINANTS
and the three things that could best OF JOB SATISFACTION AND
improve the work environment were MORALE
analyzed according to frequency of Job satisfaction and morale is derived from
responses and tabulated. and is caused by many inter-related
• Several other constructs evolved from factors. Although these factors can never
the qualitative data that were be completely isolated from one another
interesting. Most of the employee’s for analysis, they can by the use of
thing that job satisfaction can lead to statistical techniques, be separated enough
increase performance. Almost all the to give an indication of their relative
respondents believe that satisfied importance to job satisfaction and morale
employees usually not absent from the to employees’ performance.
job. Dominant portion of respondents
think dissatisfied employee should Personal Factors
leave the organization and others
believe that they should actively and 1) Sex
constructively try to improve the Though the number of women working in
condition. a bank is increasing, but the investigation
finds that women are less with banking
Three best things about working as job. Study reveals that woman to man ratio
follows: per branch is 4:20. Another reason is that
banking is a challenging profession it
Frequency: Total requires tremendous determination to
Respondents Frequency succeed. Those who are working they are
doing for their pleasure or for the income
aspect. Generally tendency is such that
Respective job unless women feel necessary she will not
in the society 15 15 go for job. Though the scenario is
changing very few women are career
Colleagues/ oriented. Out of the surveyed almost all
Supervisors 15 13 are job oriented, having a little desire for
further progress. Male employees are
Feeling secure thinking of competition era now, and they
in the job 15 12 are thinking of promotion to the next
cadre. But, in a country like Bangladesh
Three things that could best improve the opportunity to have a highly secured
the work environment as follows: job is rare.

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2) Age suits to their educational background, and
Age is an important factor to decide about hence satisfied.
job satisfaction. Maximum age limit for
probationary officers/officer grade-II to 5) Religion
join bank is of 28-30 years which varies The factor which should be considered as
over situation. Study finds that employees an important determinant of job
irrespective of age factor are satisfied with satisfaction and morale of employee is
the job in sub-staff and clerical cadre. religion. Religious belief among the
While officers above the age group of 35 employees resists them to act any unlawful
seems to be settling somewhere permanent and unethical activities as well as the
as frequent transfer is not a conducive one religious believe motivates them to be
for them. So far female employees are satisfied with what they get. So, in that
concerned, they are highly satisfied as the case substantial research should take place
general duty is related to children bringing as various Islamic Banks are emerging
up and taking care of beloved ones. For around the world.
them increasing age means greater
responsibility for homely affairs. FACTORS INHERENT IN THE JOB

3) Time on Job 1) Type of work
The study finds that those employees who The most important factors inherent in the
have got higher need for achievement time job are type of work. In the research it is
on the job may become crucial factor if not clear that employees working in the banks
promoted, hence they are dissatisfied. It are satisfied with their work. As we know
has been seen that job satisfaction level that job market is not expanding in
among officers level employee is Bangladesh, most of the people who get
somewhat below par as they wanted to the job of a bank are very satisfied. There
show their competence to the higher level are mainly four departments in a bank and
and demand promotion. It is observed that study reveal that employees working in the
most of the employees put a lot of efforts Cash Department suffer stress and their
in their work at the initial stage of their satisfaction level is reduced substantially.
career. Most satisfied employees found in the
Investment Department. Banking sector
4) Education has got a tradition of rotational services
As bank is engaged with commercial especially for entry level officers. It means
activities, it requires better aptitude changing of counter, brings some level of
towards figure and calculation. The survey dynamism. While for the rest of the
reveals that the employees are from employees repetitive and monotonous task
various disciplines Science, Commerce, looks boring.
Arts etc. It clearly proved by the
performance of the respondents that 2) Skill required
regardless of educational disciplines they Skill in relation to job satisfaction has a
are quite successful in their profession. As bearing on several other factors, kind of
banking is a field where more practical work, responsibility and others. A study of
implication is required rather than the relation of skill to job satisfaction
theoretical knowledge. Another, concluded that where skill exists to a
interesting think reveal the study that considerable degree, it tends to become the
people with less qualification suppose to first source of satisfaction to the workman,
be satisfied with their job and their satisfaction in condition of work. Research
satisfaction level is quite static over the indicates that most of the employees in
period of time and they think that this job every department get required skills to

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perform their job effectively and in the research on an average there are 27
efficiently. Again, many respondents think employees working in each branch which
they are not appropriately suited to the job is well above the industry average and
that they are specified and ultimately this considered to be overcrowded. Still many
reduces their job satisfaction and morale employees blame they have to take too
towards the organization. much responsibility because there are not
enough workforces to do the job
3) Occupation status effectively.
Occupation status is related to, but not
identical with job satisfaction. 6) Present place of work
Occupational status is always valued in Employees’ level of job satisfaction varies
terms of others opinion. It has been seen with the present place of work. Employees
that employees who are working at the working in rural and semi urban branches
lower position seems to look for other job, seem less satisfied than employees with
where they can have greater job urban and metropolitan branches. As the
satisfaction. It has been seen that business is carried in branch wise, this is
employees are more dissatisfied in jobs located in rural, semi-urban, urban and in
that have loss social status and prestige. metropolitan cities. In comparison to
Study discloses that most of the employees metro and urban branches, semi-urban and
working in the banks seem to be quite rural branches are small and the employees
satisfied with their occupational status and of these branches are having a better
they are quite happy to say other about opportunity to interact with one another,
their job in the society. while in big city branches, this seems to be
a rare one. Most of the respondents in the
4) Commitment to the organization research response positively that is, they
Level of commitment to the organization are quite satisfied with their present place
is such an important factor in the of work.
performance of employee. Ultimately,
level of commitment indicates how much FACTORS CONTROLLABLE BY
employees are satisfied with their work MANAGEMENT
and toward organization. Study indicates
that though dominant percentage of 1) Security
employees are very much committed with An average employee will think of job
the organization few of them responded security first rather than other factors to
negatively and saying that they will leave get settle in life. It has been seen that
the organization if they get better chance employees secured in job are more
any where, this eventually indicates lower satisfied in their job. But security is of less
satisfaction level and morale of the importance to the better educated person,
employees towards their work and perhaps because there is not so much fear
organization. of layoff in the kind of jobs that the highly
educated obtain, or the highly educated are
5) Size of organization justifiably more confident of being able to
In a small organization, employees get a find other jobs if necessary. Research
greater chance to interact with other indicates that all the employees are highly
employees and can seek co-operation of secured hence they are satisfied.
others very easily. While in a large
organization this can be possible but 2) Pay
depending upon requirement of the The importance of pay as a factor in job
organization and the task which it has satisfaction has been greatly over
assigned to the employees. It is observed emphasized by management. Most studies

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have found that pay ranks well below want to be near their friends. Survey finds
security, type of work etc. The research that co-workers seem to be co-operative
exposes that the pay structure is well one. After working for many years
below the industry average. Though, many together brings a sense of mutual co-
employees think they are paid reasonably operations, which is there with the bank.
but most of the top and mid level But nature of man is such that anything is
executive/officers think they are less paid. offered with the expectation of return.
It is observed that because of low level of Above all, employees are moderately
pay structure many mid level employees satisfied with their support from
already switched to another bank and it is colleagues.
a potential threat for the bank.
6) Supervision
3) Opportunity for advancement/ Good supervision ranks about average in
Promotional opportunity importance of the first ten things people
In today’s time this factor is of greater want in a job. To the subordinate his
importance. Young ones are more supervisor is the company; hence worker’s
interested in advancing because it is feelings towards his supervisor are usually
possible only in his earlier years. Belief similar to his feelings towards the
that individual merit is rewarded would company. Supervision is without question,
appear to be closely related to belief that one of the most important factors related to
there is chance to advance even where a job satisfaction, which is correlated with
person does not believe that he deserves a factors that also are important in assessing
promotion it is still highly important to job satisfaction level of bank. Research
him that the best man be prompted. indicates that employees are moderately
Research finds out that employees are satisfied with supervision they get from
moderately satisfied with their their superior. It is necessary to mention
promotional opportunity and most of them that still some of the respondents express
believe that the promotional policy their dissatisfaction with superior support
handled fairly, though it is observed that and they blame that they are not getting
few young employees were dissatisfied enough support from superior to perform
with promotional policy because they the task effectively and efficiently.
think seniority is given more preference
over performance. 7) Other Factors
Other factors include culture, relationship
4) Working conditions with peers and subordinates and
Working conditions rank variously from recognition of work are important
second to eighth in importance, there determinants of job satisfaction and
seems to be a tendency for working morale. Whenever any employee in an
conditions to be ranked lower, perhaps underdeveloped economy finds a job with
because they have been improved in higher security and regular return, he/she
banking sector. The study observed that is satisfied. Moreover, the culture of state
management ensured a comfortable also believes in earn and enjoyment
working condition suitable for employees. philosophy. In addition to that the people
All the employees are satisfied with of this region believe in business much
working conditions. than the job. So a tendency of lack of
commitment has been noticed among
5) Co-workers employees.
One’s associations have frequently been
mentioned as a factor in job satisfaction.
Certainly this seems reasonable as people

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LIMITATIONS OF THE RESEARCH • The top level management of bank
To measure the actual level job should keep an eye on the existent pay
satisfaction and morale of employees is a structure, as study reveals that many
daunting task. Instead of the best effort it respondents are not satisfied with their
would not be possible to collect the actual salary. So, the company should try to
information from the respondents. While provide the competitive pay structure
conducting this study following limitations considering industry situation.
are encountered: • It is recommended that the top level
• Absence of corporate culture: As manager should give enough decision
there is no Research and Development making authority and responsibility to
Department in bank sector, there is no the mid and lower level
specific source of collecting necessary executives/officers so that they can act
data. independently and make their best
• Fear of information leakage: It is the effort to increase their performance.
main obstacle of getting accurate • Though, most of the employees are
response from the respondents as most quite satisfied with the present
of the employees did not provide promotional policy which is basically
appropriate answer to the questions based on seniority and length of work.
because they think it will be disclosed It is recommended that the company
to others. should try to implement the
• Poor knowledge of the respondents: promotional policy based on both
In many cases respondents did not have seniority as well as performance so
any knowledge about subject matter of that the young and energetic
the study. employees are motivated to perform
• Busy schedule: Because of the busy better in their job.
schedule, most of the cases respondents • The study observed that there are some
were unable to give time for personal employees who are not competent
interview. enough to perform their job effectively
• Perception of respondents: Many and efficiently. That is why it is
respondents think that it is worthless to required to give enough concentration
give time to answer such questions by the top management while
which ultimately gives nothing as result recruiting new employees and standard
they are very non-cooperative. recruitment system should be followed.
It is very clear that if it would be possible • To increase the morale of the
to overcome the above limitations, the employee it is required to make their
findings of the research may be more job more interesting and manager
representative and can easily prove the should always appreciate his/her
hypothesis. subordinates for doing a good job.
• It is strongly recommended that the
RECOMMENDATIONS team work among employees of each
The impact of job satisfaction and morale department should be encouraged and
in the performance of the employee is very superior should try to create an
implicit issue. Satisfied employees always atmosphere suitable for group work
motivated to perform their job in a better and relationship building activities.
way as well as morale keep the employees The organization first understand the
to be committed to the organization. From employees welfare, their financial issues,
the extensive study on the commercial their interest of domain, their problems,
banks reveals that though employees are their family problems and how much time
satisfied but there are some factors which is devoted to their families, the exploit-
should be taking into consideration: tation in workplace (Jain et al. 2011).

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Finally, it is recommended that these be communication throughout the workforce
replicated in the future before policy were among some others associated.
changes are made that involve the Feeling motivated at work is just as
employees work environment. This will important as having work assignments
ensure that levels of job satisfaction be delegated fairly. Finally the employees
maintained at an above average level. believe they are providing a valuable
service to their clients and make
CONCLUSIONS contribution to the overall development of
The research suggests that job satisfaction the bank. The in-charge of different
can affect employee morale, turnover, department also enjoys its job autonomy.
absenteeism, and pro-social behavior, Other ideas were expressed when asked to
which can be crucial for organizational inform the three best things about working
success. This not only applies to traditional at the Bank. These ideas include:
business but also the financial institutions Respective job in the society, friendly
like bank. The job satisfaction of colleagues/supervisors and feel secure in
employees of the commercial banks is the job.
critical for the success. However, the majority of the respondent
Overall the employees are quite satisfied feels that more pay would be the best way
and view the bank as a good place to work, to improve the work environment. More
majority of them think that they can go training and necessary equipment to
ahead if they try hard to achieve their goal. perform the job would also be appreciated.
They are very much satisfied with the The respondents also strongly expressed
supervisory relationships as well as they that the work-loads are not equal between
know what their superior expects from colleagues.
them. Almost all of the respondents think The results of the current study support the
that they made the right choice to work notion that job satisfaction and morale are
with the organization. major factors in improving the
The bank’s missions as well as motivation performance of the employee. It is
and hygiene factors are important for their recommended that these results be kept in
job satisfaction. In order from most to least mind when structuring all aspects of
they are: feeling comfortable talking to employee positions in the bank and further
senior management about job content, change. While not all suggestions are
feeling comfortable talking to the feasible due to budget constraints it is
supervisor about job content, having open recommended to be aware of current
communication throughout the workplace, satisfaction levels of employees in order to
having performance evaluations done by address problems efficiently. This will
his supervisor be fair and based on clear result in a smoother operating of the
performance standards, and pay structure banking system that is more apt to
of the organization. successfully serve its purpose as an
However they were not the only organization.
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