Job Satisfaction of Bank Officers in Bangladesh

By

Nazrul Islam* and Gour Chandra Saha**

Abstract

satisfaction of officers. It also investigates the impacts of bank * Mr Nazrul Islam has a Bachelor of Commerce (B.Com) andtype, a Master of Commerce This study attempts to in evaluate job work experience, age, (M. Com) Management from the University of Dha and a. !e sex also has a Master of satisfaction of bank "dministration officers in (MB") differences on the attitudes toward ("I#)$ #hailand. Business from "sian Institute of #echnology Bangladesh. It Many focusesof on his the relative job %een Satisfaction. Thein result shows that 'ournals including articles have &u%lished international Technovation $ !sian !cademy of "anagement !sian $rofile, South !sian importance of job satisfaction factors salary, efficiency #ournal, in work, fringe #ournal "anagement, $restige #ournal ofworker "anagement, !B!% #ournal, and and their impacts onof the overall supervision, and co relation are International #ournal of the %omputer the Internet and "anagement. In addition$ he job authored a %oo entitled ()ntre&reneurshi& Develo&ment * "n +&erational "&&roach,$ -hich -as &u%lished %y University .ress /imited$ Bangladesh. #he author is an "ssociate .rofessor in Business "dministration of 0hulna University$ Bangladesh.
** Mr 1our Chandra 2aha has a Bachelor in 2tatistics (B.2t.) from "cademy of 2tatistics$ Indonesia$ a MB" from Institute of Business "dministration of University of Dha a$ Bangladesh. !e also has a Master of 2cience in Com&uter Information 2ystems (M2CI2) from "ssum&tion University of #hailand. !is articles have %een &u%lished in many international 'ournals including !sian $rofile, !B!% #ournal, International #ournal of the %omputer, the Internet and "anagement. #he author is a full time lecturer in the De&artment of 1eneral Management of "ssum&tion University of #hailand. ***Both authors are currently engaged in .h.D. &rograms in "sian Institute of #echnology ("I#)$ #hailand.

the most important factors contributing to job satisfaction. $rivate bank officers have higher levels of job satisfaction than those from public sectors as they enjoy better facilities and supportive work environment. &ork experience is found as the second most important factor affecting job satisfaction. Sex and age differences have relatively lower level of impact on it. The overall job satisfaction of the bank officers is at the positive level. INTRO !CTION 3ith the o&ening u& of the economy of Bangladesh$ a dramatic change has %een o%served %oth in manufacturing and in service sectors. #his has %rought higher em&loyment o&&ortunities$ increases in income level$ changes in consum&tion &attern and conse4uently there emerges a com&etitive environment in the country. 2&ecifically$ the e5&ansion of &rivate %an ing %usiness$ along -ith customized services$ has created a severe im&lied com&etition in this sector. #his com&etition has made the service ga& -ider as &rivate %an s offer %etter services to their internal and e5ternal customers. #he scenario has created an urge to the %an &olicy ma ers to identify the underlying reasons and %rought them into consideration the 'o% satisfaction issue. It has %een further envisaged that officers in %an ing sector &lay the ey role in mani&ulating their services through im&lementing &olicy that has

a&&eal to their customers. In such situation$ 'o% satisfaction of %an officers %ecomes an im&ortant issue that has to %e ta en care of in order to achieve ultimate goals of the %an ing sector in Bangladesh. "#T$O O%OG& #he main o%'ective of the study is to identify the level of 'o% satisfaction of %an officers in Bangladesh. Ban officers in this study refer to first and second class em&loyees (not third and fourth class em&loyees such as$ cler s$ assistants$ &eons$ guards$ drivers$ cleaners etc.) in Bangladesh. #he s&ecific o%'ectives are (i) to identify the relative im&ortance of 'o% satisfaction factors6 (ii) to identify the im&act of Ban ty&e$ -or e5&erience$ age$ and se5 differences on the attitudes to-ard 'o% satisfaction6 and (iii) to differentiate the level of 'o% satisfaction %et-een .rivate and .u%lic %an officers in Bangladesh. #o achieve these o%'ectives 789 %an officers -ere surveyed from four main cities * Dha a$ Chittagong$ :a'shahi$ and 0hulna * in Bangladesh. Data has %een collected from nine main commercial %an s namely "grani$ 2onali$ ;anata in &u%lic sector and City$ )astern$ 2ocial Investment$ United Commercial (UCB/)$ "N< 1rindlays$ I=IC %an s in &rivate sector. 2am&le includes >? %an officers from &rivate and ?@ from &u%lic %an s. 2ince female officers are relatively small in num%er in this sector$ 7@ female officers -ere selected

in the sam&le$ of -hom A -ere from &u%lic and 77 -ere from &rivate %an s. #he sam&led units -ere selected &ur&osively and they -ere &ersonally intervie-ed during 2e&tem%er to Decem%er 8BBB. " structured 4uestionnaire in a >C&oint scale has %een used in the survey. In the measurement$ scale 7 indicates strongly disagree and > indicates strongly agree. In considering the res&ondentsD freedom of choice$ su%'ective e5&lanations of the num%ers %et-een the %i&olar scale -ere not &rovided. #he relia%ility test has %een conducted to verify the internal consistency of the varia%les o%tained in the sam&le. #he Cron%achDs al&ha value () is found B.EF>>$ -hich is higher than the minimum acce&ta%le level suggested %y Nunnally (79>E). 2everal multivariate analysis techni4ues such as$ =actor "nalysis$ Multi&le :egression "nalysis$ M"N+G" have %een used to measure the level of 'o% satisfaction of %an officers in Bangladesh. R#S!%TS 'N ISC!SSIONS

:)/"#IG)

IM.+:#"NC) += "##I#UD)2 #+3":D ;+B 2"#I2="C#I+N

#he &resent study deals -ith the three issues to analyze the 'o% satisfaction of %an officers in Bangladesh. #he issues areH (i) the relative im&ortance of 'o% satisfaction factors6 (ii) the im&act of %an ty&e$ -or e5&erience$ age and se5 differences on the attitudes to-ard 'o% satisfaction6 and (iii) the level of differences in 'o% satisfaction of &u%lic and &rivate %an s officers.

#he attitudes to-ard 'o% satisfaction need clarification for e5&loring their relative im&ortance as they are lin ed to intraC&ersonal dis&osition of human %eings. In this conte5t$ 'o% satisfaction &ro'ects individualsD attitudes involving information that is generally ac4uired %y an em&loyee a%out -or &lace over a &eriod of time. It results from the %alancing and summation of many s&ecific li es and disli es of em&loyees e5&erienced in connection -ith their 'o%s (!aung$ 79996 1anguli$ 799@6 /oc e$ 79>F). #he attitudes regarding 'o% satisfaction are %roadly related to the areas of intrinsic nature of -or $ -age and security$ su&ervision$ and com&any &olicies and &ractices (1anguli$ 799@). #he -idely used instruments for measuring 'o% satisfaction areH ;o% Descri&tive Inde5 (;DI) and Minnesota 2atisfaction Iuestionnaire (M2I) that measure mentally challenging -or $ e4uita%le re-ards$ o&&ortunities for &romotion$ su&&ortive -or ing conditions$ and su&&ortive colleagues (!aung$ 7999). #he &resent study$ on 'o% satisfaction of %an officers$ ada&ted a similar 'o% satisfaction measurement instrument develo&ed %y 1anguli (799@) and -as validated among the educated sam&les in Indian 2u%CContinent conte5t.

=actor analysis of 8F varia%les in the instrument formed eight main factors -ith eigenvalues greater than one (#a%le 7). #he eigenvalue of last factor (-or a%ility) contains a value of B.99>$ -hich is acce&ted as it is close to one.#hese E factors account for F>.A7J of the variance in the data on attitudes to-ard 'o% satisfaction. #he first factor$ salary$ that accounts for the most variance (8>.79J) consists of eight varia%les. )igenvalue for this factor is >.BF9$ -hich indicates that this factor contains more information than the other factors. #his factor &rovides the ma5imum insights of 'o% satisfaction of %an officers in Bangladesh. It %roadly includes the areas of 'o% satisfaction such as$ salary$ com&any &olicies and &ractices$ and &romotion chance. #he eight varia%les contain in the factor (salary, areH satisfied -ith &resent salary$ %an is sym&athetic to the officers vie-$ %an a&&reciates &erformance$ satisfied -ith increment allocation method$ income is higher than other %an s$ satisfied -ith the chances of &romotion$ satisfied -ith the -elfare facilities$ and satisfied -ith the chances of income increase. #he mean values of these eight varia%les are @.AB$ @.AB$ @.8B$ @.7F$ A.9@$ A.>E$ A.FB$ and A.E9 res&ectively. In the >C&oint scale these mean values re&resent some-hat neutral to &ositive level of 'o% satisfaction. !ence$ the &olicy ma ers in the %an ing sector in Bangladesh should give greater im&ortance on these varia%les concerning salary$ com&any &olicies and &ractices$ and chance for

&romotion to increase 'o% satisfaction of the officers. #he second im&ortant factor is efficiency in -or that accounts for 9.A>J of the variance and it %roadly covers areas of 'o% satisfaction including 'o% security$ su&ervision$ and su&&ortive colleagues. #he varia%les are namely$ not lose 'o% if -or ed efficiently$ immediate su&ervisor is reasona%le$ satisfied -ith the recognition %y colleagues$ and su&erior encourages suggestions for im&rovement. It has an eigenvalue of 8.@AF. #he mean values of these four varia%les are ?.EA$ ?.E8$ ?.8@$ and @.98 res&ectively that characterize a &ositive 'o% satisfaction of %an officers. #-o varia%les namely immediate su&ervisor is reasona%le and su&erior encourages suggestions for im&rovement have relatively lo-er factor loading (less than B.FB) that arise sus&ect a%out their mem%ershi& to this factor. #he other si5 factors are almost e4ual in their a%ility to account for the variation of level of 'o% satisfaction -ith com&aratively loeigenvalues. #he communality values of the varia%les under eight factors indicate that each varia%le is much in common -ith other varia%les that formed the factor ("&&endi5 7$ &.>@ for details). Multi&le :egression analysis has %een conducted su%se4uently -ith the eight factors as inde&endent varia%les and overall 'o% satisfaction as de&endent varia%le (#a%le 8). #he

inclusion of the eight factors correlate -ell -ith 'o% satisfaction (B.>9?). #his

#a%le 7 =actor "nalysisH ;o% 2atisfaction of Ban +fficers in Bangladesh

=actors* 2alary (>.BF9) Garia%les 2atisfied -ith &resent salary$ Ban is sym&athetic to officers vie-$ Ban a&&reciates &erformance$ 2atisfied -ith increment allocation method$ Income is higher than other %an s$ 2atisfied -ith the chances of &romotion$ 2atisfied -ith the -elfare facilities$ 2atisfied -ith the chances -ith the income increase. Not loose 'o% if -or efficiently$ Immediate su&ervisor is reasona%le$ 2atisfied -ith recognition %y colleagues$ 2u&erior encourages suggestions for im&rovements. 2u&erior gives reasona%le attention to suggestions$ 2atisfied -ith &ersonnel develo&ment &rograms$ /eave rules cover average re4uirements ade4uately. 2atisfied -ith -or allotments$ 2atisfied -ith general su&ervision of de&artments$ Ma5imum facilities given for -or ing &ro&erly. Ban Ds &olicy is to override -or ers to get the ma5imum$ Ban treats officers -orse than other %an s. Gery good relationshi& %et-een union and management$ 3ould not leave 'o% if similar 'o% offer to other organization. ;o% gives chances to do things felt %est$ .refer -or ing -ith &resent colleagues. =air chances given for %etter -or $ "%le to do %etter than &resent -or . /oadings B.E8> B.F?F B.FFB B.F@A B.E8@ B.>8? B.>E? B.E@F B.>AE B.?F> B.F7@ B.?B7 B.FE9 B.FAF B.>BF B.@?@ B.E7F B.?F7 B.FA? B.>99 B.?9> CB.F>F B.FAA B.>E8 B.?EE B.E@F ?.A8? (?@.@87) @.F9B (?9.777) @.AF8 (FA.@>8) A.EA? (F>.AB>) F.@8? (@8.9E@) Gariance J (Cumulative) 8>.7EE (8>.7EE)

)fficiency in -or (8.@AF)

9.A>7 (AF.??9)

=ringe %enefit (7.F>B) 2u&ervision (7.?E9) /eadershi& style (7.AE?) /oyalty to %an (7.8E9) CoC-or er relation (7.7A@) 3or a%ility (B.99>)

F.777 (@9.B9?)

*Num%ers in the &arentheses in the first column re&resent eigenvalues of the corres&onding factors.

could also %e inter&reted that FA.7J (B.>9? s4uare) of the variation in the overall 'o% satisfaction of %an officers %e e5&lained %y the eight factors and the remaining AF.9J %e e5&lained %y other factors. " similarity has %een o%served %et-een the cumulative variance value of eight factors and the : s4uare value. #he high education level of res&ondents that hel&ed them to res&ond consistently could e5&lain this. " relatively lo- standard error value of 7.8B %roadens the sco&e of &rediction of the nature of overall 'o% satisfaction of %an officers %y the factor scores$ as

they are lying reasona%ly close around the regression line. Considering the factors individually$ salary$ efficiency in -or $ fringe %enefit$ su&ervision$ and coC-or ers relation are found highly significant to-ards the overall 'o% satisfaction of %an officers. It 4ualifies that the varia%les related to these factors are im&ortant for the 'o% satisfaction of %an officers in Bangladesh. #he contri%ution of the varia%les relating to the factors namely leadershi& style$ loyalty to %an $ and -or a%ility to-ards 'o% satisfaction are found not remar a%le. on +verall 2ignificance B.BB* B.BB* B.BB* B.BB* B.?7 B.8F B.BB* B.>B

#a%le 8 Multi&le :egression "nalysis of ;o% 2atisfaction =actors 2atisfaction =actors :egression 2td. )rror Com&uted t Coefficient Coefficient 2alary 7.7E B.77 77.B7 )fficiency in -or B.@B B.77 A.>> =ringe %enefit B.@E B.77 @.?7 2u&ervision B.@8 B.77 A.9B /eadershi& style B.B> B.77 B.F> /oyalty to %an B.78 B.77 7.7@ CoC-or er relations B.?E B.77 ?.A9 3or a%ility CB.B@ B.77 CB.A9 Interce&t (Constant) @.E@ Multi&le Correlation B.>9? :C24uare B.FA7 2td. )rror of )stimate 7.8B "N+G" for :egression 2ources of Gariation 2um of 24uare Degrees of Mean =reedom 24uare :egression 898.FB E AF.?E :esidual 7>B.9A 77E 7.@? #otal @FA.?A 78F * 2ignificant

Com&uted = 8?.8?*

:elative im&ortance of 'o% satisfaction factors on overall satisfaction su&&ort the findings of Multi&le :egression "nalysis (#a%le A). "s the leadershi& style$ loyalty to %an $ and -or a%ility do not have significant contri%ution on the overall 'o% satisfaction$ an analysis of variance ("N+G") is carried out. It sho-s that all eight factors as a -hole are highly significant to-ards the overall 'o% satisfaction of Bangladeshi %an officers. IM."C# += B"N0 #K.)$ 3+:0 )L.):I)NC)$ "1) "ND 2)L DI==):)NC)2 +N ;+B 2"#I2="C#I+N .revious researchers have found relationshi&s %et-een 'o% satisfaction and age$ se5$ (.ugliesi$ 799?6 Cheung and 2cherling$ 7999) and -or e5&erience (2teffy and ;ones$ 799B). "s M"N+G" loo s at statistical significance 'ointly across all the de&endent varia%les at once$ the techni4ue has %een used to assess the

significance of the %an ty&e$ -or e5&erience$ se5$ and age differences on the entire set of varia%les to-ards 'o% satisfaction of %an officers (0arl$ 799E). In this section$ the im&acts of %an ty&e$ -or e5&erience$ gender$ and age on the attitudes$ rather than factors$ to-ard 'o% satisfaction of %an officers is assessed. #his has %een done -ith a vie- to o%taining more insights on the im&act. #he results sho-s that the varia%les covary significantly -ith the ty&e of %an * &u%lic and &rivate. It means that there is a variation in the level of 'o% satisfaction of %an officers de&ending on the ty&e of %an in Bangladesh In other -ords$ ty&e of %an is a significant e5&lanatory varia%le for the 'o% satisfaction level. =ourteen 'o% satisfaction varia%les$ %roadly re&resenting the areas of com&any &olicies and &ractices$ salaries and facilities$ o&&ortunities for &romotion$ and relationshi& %et-een union and management$ are significantly related to the %an ty&e (#a%le @).

#a%le A :elative Im&ortance of ;o% 2atisfaction =actors on +verall 2atisfaction

2alary )fficiency in -or =ringe 2u&ervision /eaders /oyalty CoC-or er 3or %enefit hi& style to %an relations a%ility

:elative B.F7F Im&ortance (2tandardized :egression Coefficient)

B.877

B.8?8

B.87E

B.BA>

B.BF@

B.AB7

CB.B8 8

3or e5&erience has the second most im&ortance on four varia%les ta en in the study ('o% gives chances to do things felt %est$ satisfied -ith increment allocation method$ income is higher than other %an s$ and -ould not leave 'o% if similar 'o% offer to other organization). #hese varia%les confirm a significant relationshi& -ith e5&erience of %an officers. #hese relationshi&s %roadly indicate that e5&erience affects the areas of 'o% satisfaction including &olicies and &ractices ('o% gives chances to do things felt %est and satisfied -ith increment allocation method)$ salary and facilities (income is higher than other %an s)$ and loyalty to the com&any (-ould not leave 'o% if similar 'o% offer to other organization). It could %e e5&lained that officers -ith higher e5&erience hold higher level of -or freedom$ have more financial and nonC financial %enefits$ are more familiar -ith organizational &olicies and &ractices$ and have greater loyalty to the %an . 2e5 and age differences have relatively lo-er level of im&act on the entire set of varia%les$ -hich are manifested through the significance of M%an is sym&athetic to officers vie-sD and M%an s &olicy is to overdrive -or ers to get the ma5imumD res&ectively in the test. 2e5 differences have only im&act on the %an Ds sym&athy to the officersD vie-s$ -hile age differences leave im&act on %an Ds &olicy to overdrive -or ers to get the ma5imum. 2e5 differences in &articular

could %e descri%ed as an interesting issue in the socioCeconomic conte5t of Bangladesh. It is generally vie-ed that female em&loyees are some-hat neglected in their -or &laces and conse4uently$ they are &rone to a relatively lo-er level of 'o% satisfaction. #his study defies this vieendorsing almost no se5 discrimination in the female %an officers. "ge differences of %an officers have also negligi%le im&act on the full set of varia%les of 'o% satisfaction. None of the interactions from these four factors * %an ty&e$ -or e5&erience$ se5$ age C -as found significant. ;+B 2"#I2="C#I+N IN .UB/IC "ND .:IG"#) B"N02 It is earlier mentioned that the ty&e of %an has significant im&act on the varia%les of 'o% satisfaction. !o-ever$ the analysis does not e5&licitly shothe attitudinal relationshi& -ith &u%lic and &rivate %an s. #o identify this relationshi&$ the study further analyzed mean values of 'o% satisfaction varia%les along &u%lic and &rivate %an s (#a%le ?). 2tandard deviation has %een used to see the attitudinal dis&ersion of the res&ondents. Considering a neutral value of A.? in the >C&oint scale$ 7B varia%les (mentioned in #a%le ?) in &u%lic %an s are found lo-er than the neutral value. It sho-s a relatively higher level of 'o% dissatisfaction in &u%lic %an officers. +n the contrary$

#a%le @. Multivariate "nalysis of Gariance$ Im&act of #y&e of Ban s$ "ge$ 1ender$ and 3or )5&erience on "ttitudes to-ards ;o% 2atisfaction 2ource De&endent Garia%les 2um of Mean = 2ig. 24uares 24uares
#y&e of %an (.u%licC .rivate) ;o% gives chances to do things felt %est$ 2atisfied -ith &resent salary$ =air chances given for %etter -or $ Ban is sym&athetic to officers vie-$ Ban a&&reciates &erformance$ Ban Ds &olicy is to overdrive -or ers to get the ma5imum$ 2atisfied -ith increment allocation method$ Income is higher than other %an s$ 2atisfied -ith the chances of &romotion$ 2atisfied -ith &ersonnel develo&ment &rograms$ Gery good relationshi& %et-een union and management$ Ma5imum facilities given for -or ing &ro&erly$ 2atisfied -ith the -elfare facilities$ 2atisfied -ith the chances -ith the income increase. ;o% gives chances to do things felt %est$ 2atisfied -ith increment allocation method$ Income is higher than other %an s$ 3ould not leave 'o% if similar 'o% offer to other organization. Ban is sym&athetic to officersD vie-. Ban Ds &olicy is to overdrive -or ers to get the ma5imum. 8B.F>9 7A?.BAE 77.7>> 7B8.EA? 77B.?B> 8?.B87 F?.>AE 7>7.7F? 79@.88B 89.88F E7.9@8 8F.>>> 78@.??? 7>@.@@E 8>.@7B 7F.>F8 7A.>A9 A7.@FE 7E.BEA 7B.>EE 8B.F>9 7A?.BAE 77.7>> 7B8.EA? 77B.?B> 8?.B87 F?.>AE 7>7.7F? 79@.88B 89.88F E7.9@8 8F.>>> 78@.??? 7>@.@@E 8>.@7B 7F.>F8 7A.>A9 A7.@FE 7E.BEA 7B.>EE F.FB9 @E.F@9 A.9?A A@.EA9 AF.BF? 9.87? 8B.7A8 F8.9FE FB.E8A E.?B> 89.>B9 9.9BF @?.E88 >7.AEF E.>FB ?.7AA ?.B?@ >.@F8 F.78F A.9>A B.B77 B.BBB B.B@9 B.BBB B.BBB B.BBA B.BBB B.BBB B.BBB B.BB@ B.BBB B.BB8 B.BBB B.BBB B.BB@ B.B8? B.B8F B.BB> B.B7? B.B@E

3or ing )5&erience

1ender (MaleC =emale) "ge

NoteH "ttitudes affected %y various sources at ?J significance level have only %een e5tracted and sho-n in the #a%le @.

#a%le ? Descri&tion of ;o% 2atisfaction Garia%les$ #he Mean and 2tandard Deviation
;o% 2atisfaction Garia%les .u%lic G7H ;o% gives chances to do things felt %est G8H 2atisfied -ith -or allotments GAH 2atisfied -ith &resent salary G@H =air chances given for %etter -or G?H Not lose 'o% if -or ed efficiently GFH Immediate su&ervisor is reasona%le G>H 2atisfied -ith general su&ervision of de&artments GEH 2atisfied -ith recognition %y colleagues G9H 2u&erior encourages suggestion for im&rovements G7BH Ban is sym&athetic to officers vieG77H Ban a&&reciates &erformance G78H .refer -or ing -ith &resent colleagues G7AH Ban Ds &olicy is to overdrive -or ers to get the ma5imum G7@H 2atisfied -ith increment allocation method G7?H 2u&erior gives reasona%le attention to suggestions G7FH Ban treats officers -orse than other %an s G7>H "%le to do %etter than &resent -or G7EH Income is higher than other Ban s G79H 2atisfied -ith the chances of &romotion G8BH 2atisfied -ith .ersonnel develo&ment &rograms G87H Gery good relationshi& %et-een union and management @.@E @.FF 8.E> @.88 ?.?B ?.>8 ?.@7 ?.BF @.?> A.8F A.B> ?.F7 A.9@ A.7? @.?@ A.A7 ?.E> 8.A9 8.B> A.F> 8.>E Mean .rivate Difference ?.8B ?.BA ?.A? ?.7F F.77 ?.97 ?.F> ?.@7 ?.8B ?.B? ?.B7 ?.F> ?.>A @.EE @.9> A.FB ?.E@ ?.B? ?.B7 @.?> @.?7 CB.>8 CB.A> C8.@E CB.9@ CB.F7 CB.79 CB.8F CB.A? CB.FA C7.>9 C7.9@ CB.BF C7.>9 C7.>A CB.@A CB.89 NB.BA C8.FF C8.9@ CB.9B C7.>A 2tandard Deviation .u%lic .rivate 7.9? 7.9E 7.EA 7.9E 8.B7 7.?8 7.F> 7.E> 8.7F 7.9F 7.9> 7.A7 7.EE 8.B9 7.98 7.?9 7.>8 7.>8 7.>B 7.9@ 7.EB 7.>@ 7.>@ 7.?> 7.@F 7.87 7.8A 7.@8 7.7A 7.F7 7.F? 7.?E 7.@7 7.?8 7.?9 7.?? 8.79 7.8F 7.F7 7.EA 7.>9 7.??

G88H 3ould not leave 'o% if similar 'o% offered to other organization G8AH /eave rules cover average re4uirements ade4uately G8@H Ma5imum facilities given for -or ing &ro&erly G8?H 2atisfied -ith the -elfare facilities G8FH 2atisfied -ith the chances of income increase
O(erall )ob satisfaction

A.EB @.E9 A.9F 8.AA 8.@7

*+,-

A.99 ?.?A @.99 @.?8

@.9F .+/0

CB.79 CB.F@ C7.BA C8.79 C8.??

12+30

8.8F 7.97 7.98 7.FA

7.?F 4+-2

8.B> 7.?A 7.@7 7.F> 7.?@

2+*.

there is no value found lo-er than the neutral level in the &rivate %an s$ indicating relatively higher level of 'o% satisfaction. #he differences across &u%lic and &rivate %an s have also %een identified in 'o% satisfaction varia%les. It sho-s negative differences in all the mean values %et-een &u%lic and &rivate %an officers e5ce&t Ma%ility to do %etter than &resent -or D sho-ing an insignificant &ositive difference (B.BA). "mong the negative differences$ to& five varia%les areH satisfied -ith the chances of &romotion (C8.9@)$ income is higher than other %an s (C8.FF)$ satisfied -ith the chances of income increase (C8.??)$ satisfied -ith &resent salary (C8.@E)$ and satisfied -ith the -elfare facilities (C8.79). #he com&arisons of all the mean values highlight a higher level of 'o% satisfaction in &rivate %an officers than does the &u%lic. #he fact is su&&orted %y the differences of the overall 'o% satisfaction in &u%lic and &rivate %an officers (A.>B versus ?.F@). #he reasons for this difference in 'o% satisfaction %et-een &u%lic and &rivate %an officers might mainly %e related to the %an Ds salary$ efficiency in -or $ fringe %enefit$ su&ervision 4uality$ and coC -or er relations.

CONC%!SIONS #his study finds that the overall 'o% satisfaction of Bangladeshi %an

officers is at the &ositive level sho-ing an average overall 'o% satisfaction value of @.EA. !o-ever$ the 'o% satisfaction of %an officers is significantly de&endent u&on salary$ efficiency in -or $ fringe %enefit$ su&ervision 4uality$ and coC -or er relations. #he remaining three factors$ leadershi& style$ loyalty to %an $ and -or a%ility do not have significant statistical evidence to im&rove the 'o% satisfaction of %an officers. Ban ty&e is found to %e the most relevant -ith the %an officersD 'o% satisfaction in com&arison to -or e5&erience$ age$ and se5 differences. .rivate %an officers are com&aratively more satisfied than those from &u%lic sectors as they en'oy %etter salary$ %etter fringe %enefits$ 4uality su&ervision$ good coC-or er relation and yield higher efficiency in -or . .u%lic %an officers$ on the other hand$ have inade4uate %enefits and facilities$ resulting in com&aratively lo-er level of 'o% satisfaction. It is also identified from this study that the -or e5&erience is the second im&ortant factor affecting 'o% satisfaction of %an officers. 2e5 and age differences are found less im&ortant factors to-ards 'o% satisfaction. #he level of overall 'o% satisfaction in &rivate %an officers is found much higher (?.F@) that leaves the same for &u%lic %an into a marginal level (A.>B). !o-ever$ there is an am&le sco&e to further the study -ith a larger sam&le %ase.

***

References Cheung$ C. 0.$ and 2cherling$ 2. ". (7999) (;o% 2atisfaction$ 3or Galues$ and 2e5 Differences in #ai-anDs +rganizations,. The #ournal of $sychology, 7AA (?)$ ?FAC?>?. 1anguli$ !. C. (799@) #ob Satisfaction Scales for 'ffective "anagement( "anual for "anagers and Social Scientists$ Conce&t .u%lishing Com&any$ Ne- Delhi. 0arl$ 0. ".$ and 2utton$ C. /.$ (799E) (;o% Galues in #odayDs 3or &laceH " Com&arison of .u%lic and .rivate 2ector )m&loyees,. $ublic $ersonnel "anagement$ 3inter$ 8>(@)$ ?7?C?8E. /oc e$ ).$ (79>F)$ (#he Nature and Causes of ;o% 2atisfaction,$ in )andbook of Industrial* +rgani,ational $sychology )dited %y M.D. Dunnette (ChicagoH :and McNally$ 79>F)H 9B7C9F9. Nunnally$ ;. /. (79>9)$ $sychometric Theory$ Ne- Kor H Mc1ra- !ill Com&any. .ugliesi$ 0.$ (799?) (3or and 3ellC Being$ 1ender Differences in the .sychological Conse4uences of )m&loyment,. #ournal of )ealth and Social Behavior, AF$ ?>C>7. 2mith$ .. C.$ 0endal$ /. M.$ and !ulin$ C. /.$ (79F9) (#he Measurement of 2atisfaction in 3or and :etirement, inH !uang$ !. ;.$ (7999) ;o% :otation from the )m&loyeesD .oint of Gie-$ -esearch . $ractice in )uman -esource "anagement, >(7)$ >F. 2teffy$ B. D.$ and ;ones$ ;. 3.$ (799B) (Differences %et-een =ullC#ime and .artC#ime )m&loyees in .erceived :ole 2train and 3or 2atisfaction,. #ournal of +rgani,ational Behavior, 77$ A87BC A89. 3eiss$ D. ;.$ Davis$ :. G.$ )ngland$ 1. 3.$ and /of4uist$ /. !.$ (79F>) (Manual for the Minnesota 2atisfaction Iuestionnaire, inH !uang$ !. ;.$ (7999) ;o% :otation from the )m&loyeesD .oint of Gie-$ -esearch . $ractice in )uman -esource "anagement, >(7)$ >F. OOOOO

"&&endi5 7 Communality Galues of ;o% 2atisfaction Garia%les

=actors Garia%les Communalities

2alary

2atisfied -ith &resent salary$ Ban is sym&athetic to officers vie-$ Ban a&&reciates &erformance$ 2atisfied -ith increment allocation method$ Income is higher than other %an s$ 2atisfied -ith the chances of &romotion$ 2atisfied -ith the -elfare facilities$ 2atisfied -ith the chances -ith the income increase. )fficiency Not loose 'o% if -or efficiently$ in -or Immediate su&ervisor is reasona%le$ 2atisfied -ith recognition %y colleagues$ 2u&erior encourages suggestions for im&rovements. =ringe 2u&erior gives reasona%le attention to suggestions$ %enefit 2atisfied -ith &ersonnel develo&ment &rograms$ /eave rules cover average re4uirements ade4uately. 2u&ervision 2atisfied -ith -or allotments$ 2atisfied -ith general su&ervision of de&artments$ Ma5imum facilities given for -or ing &ro&erly. /eadershi& Ban Ds &olicy is to override -or ers to get the style ma5imum$ Ban treats officers -orse than other %an s. /oyalty to Gery good relationshi& %et-een union and %an management$ 3ould not leave 'o% if similar 'o% offer to other organization. CoC-or er ;o% gives chances to do things felt %est$ relation .refer -or ing -ith &resent colleagues. 3or a%ility =air chances given for %etter -or $ "%le to do %etter than &resent -or .

B.>?> B.FA? B.FE> B.F78 B.>7? B.FB7 B.FEE B.>F> B.F@@ B.@A? B.?9? B.FE> B.F?9 B.F>? B.F7F B.?AE B.F?7 B.A9? B.??7 B.>BF B.?98 B.?@F B.FEA B.?@F B.>@? B.>>?