Job Satisfaction among Bank Employees:

A Pakistan Perspective
Tafakhar Hasnain (Corresponding Author)
Assistant Professor
Department of Business Administration
Gomal University D.I.Khan
fakhihasnain@gmail.com
ell !o" #$$$%%&$'##
Prof: Dr.Bakhtiar Khan
hairman
Department of Business Administration
Gomal University D.I.Khan
Dr.Zahid Awan
Assistant Professor
Department of Business Administration
Gomal University D.I.Khan
M.Tufai
Assistant Professor
Department of Business Administration
Gomal University D.I.Khan
!arhat "ah
(ecturer
Department of Business Administration
Gomal University D.I.Khan
A#stra$t
)i* omponents of +o, )atisfaction deemed to ,e the integral part of pay- recognition- .o, security-
promotion- ,enefits and /orking hours- /ere a fe/ factors on /hich overall .o, satisfaction rests. In order
to secure dependa,le or via,le result a 0uestionnaire /as structured. 1e0uired information /as gleamed
from si* ,ank employees- randomly selected from pu,lic and private sectors ,ank. 2he output of this study
transpired that the employees of private ,anks seemed to ,e relatively more self complacent /ith pay-
recognition- ,enefits- promotion to the ne*t rung of the ladder and /orking hours as compared to pu,lic
sector ,ank employees /ho appear to ,e ,latantly more disgruntled. +o, security provides ample measure
of satisfaction to pu,lic sector employees as contrasted to private sector employees.
Ke%words" +o, )atisfaction- pu,lic sector ,anks- private sector ,anks
&#'e$ti(e of the )tud%:
2he paramount o,.ective of this study /as to streamline and pro,e level of .o, satisfaction of ,ank
employees in Pakistan.
*.+,T-&D"CT+&,
3an- as a social- gregarious animal has ,een also du,,ed as a cro/n of creations. In order to lead a
dignified life gone to days of grotto living- is supposed to toil and moil to eke out living honora,ly hence-
he is to /ork satiate all his socio economic needs. All of needs are satisfied /hen he has money to
purchase- /ill to purchase and po/er to purchase make a consumer. According to A.K.Aggre/al- a ho,o
standing ,efore a confectionery lain of s/eeten his mouth if he does not have money or at the same time
does not /ant to ,uy. It is therefore- important to kno/ that man must actively and gainfully employ
himself to earn pelf. !o/- it is to ,e ascertained as /hich .o, man must adhere to- through /hich he can a
mass immaterial pleasure and satisfaction. 4ith the ,reach up of the economy of Pakistan- a staged
transform has ,een pragmatic ,oth in manufacturing and in overhaul segments. 2his has ,rought superior
employment prospects- augments in income level- and modifies in spending prototype and
accordingly there materiali5es a ,loodthirsty situation in the country. Predominantly- the e*tension in
private ,anking industry- ,eside /ith personali5ed services- has fashioned a stern antagonism in this sector.
2his passionate rivalry has made the tune fissure /ider as private ,anks proffer superior services to
their domestic and peripheral patrons. 2his circumstance has t/isted an advocate to the ,ank policy
makers to classify the indispensa,le rationales and ,ring them into contemplation /ith .o, satisfaction
su,.ect. 6mployee satisfaction is thought to ,e one of the prime supplies of a /ell run institute and
measured an crucial ,y all communal managements. It is irrefuta,le fact that the outlook of trade venture
rests on the satisfaction echelon of its personnel. Disgruntled employees cause instantaneous
tri,ulations only to their meticulous ,usinesses. Psychologists and sociologists have long ,een
concerned in the purposes and implication of .o, attitudes 78oppock- 9%$':. +o, satisfaction is a crucial
aspect of .o, approach. 2he mainly imperative proof demonstrating the stipulation of the institute receiving
inferior is the s0uat tempo of .o, satisfaction 7Kaya- 9%%':. 2hus the .o, satisfaction is vital
precondition for vigorous secretarial milieu. 8o/ever- factors correlated to .o, satisfaction are pertinent
in the deterrence of employee aggravation and s0uat .o, satisfaction as /orkers toil harder and e*ecute
superior afforded they are contented /ith their professions 7Boltes et al.- 9%%'; Bro/n et al.- 9%%< 3anthe-
9%=>:. +o, satisfaction is a seriously investigated vicinity of in0uest 7?kpara- @##>:. (ocke 79%=>: defined
.o, satisfaction as Aa agreea,le or optimistic poignant situation- ensuing from the assessment of oneBs .o,.C
(ocke 79%=>: predicta,le that concerning $-$'# articles or e*positions had ,een printed on .o,s
satisfaction. 4hile- ?shag,emi 79%%>: recommended that if a occupied tally of pertinent articles and
e*positions /ere made- /ould ,e t/ofold. In this epoch of glo,ali5ation- mounting finances- and
enhanced e*pertise are persistently presenting ne/ confronts and crafting fresh prospects for populace.
/orkforce /ith elevated scale of satisfaction and glo/ing dedicated are the mainly momentous
possessions of any nationBs /ealth- and proceed as spirited pro for long term. Pakistani ,anking
segment is a fastDgro/ing pecuniary tune sector that has seen marvelous development. All ,anks in
Pakistani ,anking segment are programmed. )chedule ,anks can ,e au*iliary confidential into pu,lic
sector ,anks 7Provincial and Eederal:- Private sector ,anks- and foreign ,anks.
../+T0-AT"-0 -01+02
An appraisal of the prose on .o, satisfaction e*posed that a num,er of canvassers and 81 proficients have
underlined the significance of the factors distressing .o, satisfaction. +o, satisfaction engrosses diverse
facades such as contentment /ith pay- promotion pecuniary- periphery reim,ursements- .o, security and the
magnitude of the .o, 7!0uye et- al.- @##$:. 2he private ,anks particularly fashioned a cut throat
antagonism ,y contri,uting latest products and services to e*pand further souk split. 2he employment
prototype in the ,anking sector distorted the hu, ,ecome recital and intentions slightly than incident and
allegiance. 8ence- reim,urse and .o, satisfaction ,ecomes a prime factor for the ,anking employees /hich
/anted politeness so as to attain the long term aims of the ,ank 7Islam F )aha:. Determinates such as pay-
/ork itself- associations /ith colleagues- management and ,reaks for promotions have ,een originate to
donate to .o, satisfaction 7?pkara- @##@:. 2here is a note/orthy dissimilarity in the .o, satisfaction levels
of /orkers ,ased on their takings 7Gasir F Ea/ad @##%:. Usually- /orkers /ith lo/est paychecks
accounted inferior levels of .o, satisfaction comparatively to other income groups. 2he prose specifies
that the recital of the private and foreign ,anks have ,een stronger than that of pu,lic sector ,anks
7IBA- @##&:. A study ,y )levara. 7@##%: says; private ,anks /ere more triumphant then pu,lic sector in
stipulations of e*ecuting 2otal Huality 3anagement 72H3: plans- in frame/ork of 81- client spotlight-
and summit management pledge. Pu,lic sector ,anks arrangement recompense in a /ay such that there
are lesser forfeit discrepancies amid the /orkforce- longDterm possession is pleased and here is a
elevated pedestal forfeit- /hereas in the private sector ,anks- there are larger forfeit differentials- fe/er
plunders for residence- and pay for concert 7DI)ou5a- @##@:. 8o/ever- private sector ,anks do not offer .o,
security and /ould rest sour their /orkforce in gears of deprived performance. 7+ha- Gupta F Gadav- @##&:.
3.RESEARCH E!H"#"$"%&
3.1.Sample Size
In general contentment has been taken as a response variable and assorted further
factors similar to promotions, salary, job security, recognition, work environment etc
are measured as the explanatory variables. Bank recruits in this cram specifes to Top
executives, superior managers, and iddle!level!managers "not employees such as
peons, guards, drivers, cleaners, clerks etc#. To attain the aims of the research $%&
reviews were sent in three cities of 'akistan i.e., 'eshawar, (bbottabad and )I*
through the epoch of (ugust! +eptember, $&,&. In all, $$& returned "a response rate
of --.# which is pretty gigantic. /ut of the $$& returned 0uestionnaires, $& were
curtailed and therefore redundant1 leaving $&& for analysis. (ll workers are elderly
between $& to 2& years. The data were composed from six banks1 three private
sector banks Bank (lfalah, (skari Bank and 3abib Bank and other three belonging to
the public sector explicitly The Bank of 'unjab, B/* and 4B'.
3.2.Sample Scale
( structured 0uestionnaire was developed. The 0uestionnaire using %!+cale 5ikert
",63ighly dissatisfed, $6)issatisfed, 76somewhat satisfed, 86satisfed, %63ighly
satisfed# was intend to test the crash of all the variables for this research. The
0uestionnaire was alienated into $ sections9 demographics and job satisfaction. The
0uery covers job facets such as, promotion, pay, supervision, opportunities for
erudition, skill echelon and opportunities for enlargement.
3.3.Computerized Tool
The data were analy:ed using +'++ v.,- and construed for illustration. This is a
relative and 0ualitative study for which a tested 0uestionnaire was used to recogni:e
a variety of upshots of the study.
'. SAP$E CHARAC!ER(S!(CS
Tables I, II, III, and I; abridge the respondent organi:ations< distinctiveness according
to the working familiarity in the contemporary institute and operational poses of the
respondents. (bout %& percent of the respondent organi:ations were from private
sector, while the rest were from public sector organi:ations. 2, percent of
respondents have accomplished aster<s degree prior to amalgamation
contemporary institute and the residual respondents coupled after Bachelor<s degree.
In totaling, %% percent respondents were male which clear illustrates that a
conspicuous fgure of female bank employees would a=ord vigorous results. lastly,
with admiration to the job!related scale, the sample comprised $%
>xecutive?)irectors, %@ managers from superior management and ,,2 sub!managers
from middle!level management.
4.1Wide-Ranging Findings
2he ta,le !o J clearly e*hi,its that /orkers of private ,anks are more contented than pu,lic sector
/orkers. 2his may ,e ,ecause of superior remuneration packages ,eside /ith further reim,ursement such
as accommodation and car letting for employees.
(ike/ise- a total of $' K respondents /ere contented /ith their e*isting salaries. In addition- $<K /ere
also some/hat satisfied- /hile 9@K /ere highly contented. ?nly 9%K respondents /ere also disgruntled or
e*ceedingly disgruntled. 2he upshot noticea,ly designated that a note/orthy mainstream encompassing
&9K is contented /ith their contemporary remuneration packages. 2his may ,e allied to pleasing.
Table 4o ;I indicates that private sector recruits were contented for the credit
and rank they recogni:ed adjacent to their services whilst public sector workers
were originated less contented. This may be because concert appraisal systems
and 3A employment e=ortlessly in the private sector and public sector is being
prejudiced with the administration. Benerally, 77. respondents were contented while
,&. extremely contented. Aespondents who were immediately contented with the
circumstances reside at 7C.. ( entire of $&. respondents plunge in discontent.
Table 4o ;II shows that public segment workers were originate to be comfortable
with the job security while there is vagueness amid private segment workers. This
may be because fre0uently private banks concern indentures for length of 2 months
to ,$ months excluding for executives or directors. In toting up, private bank jobs are
ambition slanting where every worker has to convene sure goals within specifed
time frame e.g., hoisting deposits, credit cards issuance etc. In totaling,
deteriorating to attain intentions escorts to menace of purging. Therefore recruits do
linger in state of gloominess and sense anxious. /verall, 2&. respondents were
contented with the job security though a auxiliary $8. were somewhat
contented. ( total of @.%. were amid disgruntles and enduring 2.% . were
exceedingly contented in sentiment their jobs as protected for long!term.
The table 4o ;III undoubtedly reveals that recruits of public banks is further
contented than private sector recruits. Durthermore, a gorgeous number of
respondents were at just contentment echelon in private banks as evaluated to
public sector employees. This may be because of superior remuneration packages
beside with windfall benefts such as accommodation and car letting for recruits.
Besides, a total of $C . respondents were utterly contented with the reimbursement.
In count, 7C. were also somewhat contented, while ,7.%. were decidedly
contented. /nly $$.%. respondents were either disgruntled or highly disgruntled.
The upshot evidently signifed that a noteworthy mass encompassing CC.%. is
contented with their contemporary remuneration packages.
The table 4o IE illustrates that private sector bank workers are further contented
than public sector bank workers. This may perhaps due to the work freight that public
sector recruits have to go through. There are less motivational plunder for public
sector workers moreover they fritter over time lacking wages. The 0uery was
asked in order to check the respondent<s contentment against the working
extent hours that he?she is costing for the institute "Table ;I#. The respondents
who were contented with working hours exist in at 7,.. Aespondent<s who deem
working hours exceedingly contented resides at $.%. while who are disgruntled or
highly disgruntled with working hours is $8. and %. correspondingly. Foncerning
7C.%. of the respondents were just contented with the working hour<s length.
Therefore, preponderance was originate saying that they were contented with
the 0uantity of hours they are spending at place of work.
4.2.Correlation Analysis
Forrelation is a statistical instrument which can conclude the potency and route of
rapport Ganked by two variables. The value of relationship ranges from H, to !, and
mutually these values demonstrate burly positive and negative interaction. Ihile the
value & confrms no liaison.
The table 4o E indicates the relationship amid 'ay, 'romotion, Iorking hours, Job
security, Benefts and overall job contentment. The worth of relationship coeKcient
for pay, and promotion with overall contentment is &.7C8 and &.$@& alongside, which
demonstrates a aKrmative but weak to restrained aKliation of mutual variables with
overall job satisfaction.
The value of correlation coeKcient for functioning hours and recognition is &.8-8 and
&.$%, correspondingly, which specifes a weak to judicious but optimistic liaison with
job satisfaction among the variables. This relationship is noteworthy at L &.&,.The
table illustrates that job security and salary ".$,C at L &.&,# are appreciably allied.
(dditionally, promotion and salary ".7,2 at L &.&,# are connected. (lso, promotion
and recognition ".7$@ at L &.&,# are radically connected. /ther momentous relations
are found between working hours, salary and promotion. Besides, there is no rapport
between job security and working hours.
4.3. rdinary !east S"uare Regression Analysis
Aegression analysis is a method worn for the modeling and analysis of arithmetical
data depending of values of a reliant patchy "response variable# and of one or more
sovereign variables "instructive variables#. The worth of A +0uare ranges amid & and
,, where & means no disagreement elaborated by the explanatory variable"s# and ,
means ,&&. variance elucidated by the variables.
The value of A in table 4o EI is &.2,-, and A +0uare is &.7-$. The worth of A specifes
a restrained to strong positive relationship between six variables and overall job
contentment. The value of A 0uadrangle confrms that model , clarifes 7-. variance
in overall job agreement. This results sustain our suppositions which implied a causal
relationship between our model "sovereign and reliant variables#.
). C"*C$+S("*
The contrast of all the mean values highlights a higher level of job fulfllment in
private bank employees than does the public banks. The truth is articulated by the
di=erences of the overall job contentment in public and private bank workers "72
versus 2$#. The standard pay of private sector bank workers is greater than public
sector bank employees. The rationales for this disparity in job contentment amid
private and public sector bank recruits might chieGy be allied to the bank<s pay,
competence in work, tassel benefts, supervision eminence, and colleague relations.
The conclusions of the study designates that the sectoral di=erences in re0uisites of
pay, promotion, job security, recognition and benefts play a momentous function in
inGuence one<s discernment of job satisfaction. Besides, the nearby study endeavors
to augment the obtainable ac0uaintance base in the area of job contentment in
banking sector "both public and private#, as there have been very few studies within
the 'akistani context that have studied bank employee<s perception of job
satisfaction. The public sector bank needs to introduce new pay system based on
merit, to incase employee<s pay satisfaction. 3uman resources practices regardless
of sector "public or private# must be e=ectively and fairly used to enrich employee<s
job. Durthermore, private sector bank employee<s reported dissatisfaction in term of
job security. To overcome this obstacle private sector banks need to introduce special
schemes related retirement, pension, gratuity and other benefts to enhance the
employee<s sense regarding job security in e=ort to increase organi:ational
commitment which in turn will lead to employee<s commitment and high degree of
satisfaction.
References
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satisfaction in >xtension9 aTexas studyP, #ournal o$ %&tension'
MonlineN, 33 "%#.
M$N Bowen, FD, Aadhakrishna, A, and *eyser. A, ",@@8#, OJob
satisfaction and commitment of 8!3agentsP, #ournal o$ %&tension'
MonlineN, 3, ",#
M7N )Q+ou:a, >. "$&&$#, O>mployment and human resource practices
in public sector banks in the ninetiesP, In +huji
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M%N IB( "$&&-#. )ndian (an*ing year (oo*. umbai9 Indian BanksQ
(ssociation.
M2N Islam, 4.S., T +aha, B.F. "n.d#. OJob satisfaction of Bank /Kcers
in Bangladesh.P
MCN Jha, B. *., Bupta, +. 5., T Radav, '. "$&&-#, OSse and e=ectiveness
of new technologies in Indian banking9 ( studyP, T+e )CFA)
#ournal o$ Ser,ices -ar*eting' .",#, 2U$$.
M-N *aya, >bru ",@@%#, OJob +atisfaction of the 5ibrarians in the
)eveloping FountriesP. 2,st ID5( Beneral Fonference,
anagement >ducation and 'ractice in a )eveloping >conomy.
M@N 5ocke, >.(. ",@C2#. OThe nature and causes of job satisfactionP, in
)unnette, .). ">d.#,/and(oo* o$ )ndustrial and rganizational
0syc+ology, Aand c4ally, Fhicago, I5, pp.,$@C!,787.
M,&N anthe, A) ",@C2# ( job satisfaction and dissatisfaction study of
the Iest ;irginia Sniversity >xtension +ervice. /nline at
http9??mpra.ub.uni!muenchen.de?,2&%@.
M,,N /kpara, J./. "$&&2#. O'ay, promotion, and job satisfaction in a
sub!+aharan (frican economyP.Women in -anagement Re,ie1,
;ol.$,, 4o.7, pp.$$8!$8&.
M,$N /pkara, J. /. "$&&$#. OThe impact of salary di=erential on
managerial job satisfaction9 ( study of the gender gap and its
implications for management education and practice in a
developing economy. T+e 2ournal o$ 3usiness in 4e,eloping
5ations' .6-72.
M,7N /shagbemi, T. ",@@2#. OJob satisfaction of S* academicsP,
%mployee Relations, ;ol. $$, 4o.,,pp. --!,&2.
M,8N +elvaraj, . "$&&@#. OTotal 0uality management in Indian
commercial banks9 ( comparative studyP, #ournal o$ -ar*eting
and Communication, 4"7#, %@UC&.
M,%N Schikawa ">d.#. 5abour market and institution in India9 ,@@&s and
beyond. Japan9 Institute of )eveloping >conomies. >vidence.
http9??mpra.ub.uni!muenchen.de?,7-$, &, "87#.
M,2N Rasir, *., and Dawad, 3., "$&&@#. O'ay and Job +atisfaction9 (
Fomparative (nalysis of )i=erent 'akistani Fommercial BanksP.
-unic+ 0ersonal Re0%c Arc+i,e, paper 4o.,2&%@.pp. ,!$&.
Ta#e *"
-espondent3s 4ender
)e$tor
Tota
Private Pu,lic
4ender Mae
!e5ae
'%
<9
<<
<%
9#$
%=
Tota 9## 9## @##
Ta#e ++:
-espondent3s working e6perien$e in $onte5porar% institute
)e$tor
Tota
Pri(ate Pu#i$
/ess than * %rs
*78 %rs
97*: %rs
**7*8 %rs
99
$'
<9
9$
9#
$&
$$
9%
@9
=$
=<
$@
Tota 9## 9## @##
Ta#e +++:
-espondent3s Designation
)e$tor
Tota
Pri(ate Pu#i$
06e$uti(e;Dire$tor
)enior Manage5ent
Midde /e(e Manage5ent
9@
@=
>9
9$
$@
''
@'
'%
99>
Tota 9## 9## @##
Ta#e +1:
-espond<s in$o5e range= se$tor7wise
)e$tor
Tota
Pri(ate Pu#i$
Month% /ess than -s .8>:::
-s .9>::: to 8:>:::
-s 8*>::: to ?8>:::
More than ?8>:::
<
>#
@#
9>
99
'@
9%
9&
9'
99@
$%
$<
Tota 9## 9## @##
!able -:
Pay matc.es /it. responsibilities an0 level of satisfaction
)e$tor
Tota
Pri(ate Pu#i$
High% Dissatisfied
Dissatisfied
)o5ewhat satisfied
)atisfied
High% )atisfied
#$
9@
$#
<@
9<
#=
9=
$&
@&
9#
9#
@%
>&
>%
@<
Tota 9## 9## @##
Ta#e 1+:
-e$ognition for $ontri#ution and e(e of satisfa$tion
-e$ognition for
Contri#ution Tota
Pri(ate Pu#i$
High% Dissatisfied
Dissatisfied
)o5ewhat satisfied
)atisfied
High% )atisfied
'
99
$=
$<
9$
#%
9=
$>
$9
#=
9<
@&
=$
>'
@#
Tota 9## 9## @##
!able -((9
Job sec1rity an0 level of satisfaction
)e$tor
Tota
Pri(ate Pu#i$
High% Dissatisfied
Dissatisfied
)o5ewhat satisfied
)atisfied
High% )atisfied
#>
9'
@$
<$
9$
#=
#<
@'
'$
99
9$
9%
<&
%>
@<
Tota 9## 9## @##
!able -(((:
Bene2ts an0 level of satisfaction
)e$tor
Tota
Pri(ate Pu#i$
High% Dissatisfied
Dissatisfied
)o5ewhat satisfied
)atisfied
High% )atisfied
#=
9=
<'
@9
9#
#'
9>
@%
$$
9=
9@
$$
=<
'<
@=
Tota 9## 9## @##
!able (3:
4orking .o1rs an0 level of satisfaction
)e$tor
Tota
Pri(ate Pu#i$
High% Dissatisfied
Dissatisfied
)o5ewhat satisfied
)atisfied
High% )atisfied
#$
@9
$>
$>
#<
#=
@=
$%
@>
#9
9#
<&
='
>@
#'
Tota 9## 9## @##
!able 39
Correlations
1ecognition Pay Benefits
4orking
8ours
+o,
)ecurity
Promotion
?verall +o,
)atisfaction
1ecognition
Pearson
correlation
)ig 7@ tailed:
!
9 .9'& .### .9><7L: .9@< .$@%7LL: .@'97LL:
.#'& .%%& .#<% .9$& .### .##@
@## @## @## @## @## @##
Pay
Pearson
correlation
)ig 7@ tailed:
!
.9'& 9 .9=&7L: .@<&7LL: .@9=7LL: .$9>7LL: .$=<7LL:
.#'& .#$$ .##$ .##% .### .###
@## @## @## @## @## @## @##
Benefits
Pearson
correlation
)ig 7@ tailed:
!
.### .9=&7L: 9 .#%@ .$=#7LL: .9<< D.#=$
.%%& .#$$ .@=' .### .#&' .$&=
@## @## @## @## @## @## @##
4orking
8ours
Pearson
correlation
)ig 7@ tailed:
!
.9><7LL: .@<&7LL: .#%@ 9 .### .9&#7L: .<&<7LL:
.#<% .##$ .@=' 9.### .#$9 .$&=
@## @## @## @## @## @## @##
+o, )ecurity
Pearson
correlation
)ig 7@ tailed:
!
.9@< .@9=7LL: .$=#7LL: .### 9 .9%>7L: .9'&
.9$& .##% .### 9.### .#9% .#'&
@## @## @## @## @## @## @##
Promotion
Pearson
correlation
)ig 7@ tailed:
!
.$@%7LL: .$9>7LL: .9<< .9&#7L: .9%>7L: 9 .@%#7LL:
.### .### .#&' .#$9 .#9% .###
@## @## @## @## @## @## @##
?verall +o,
)atisfaction
Pearson
correlation
)ig 7@ tailed:
!
.@'97LL: .$=<7LL: D.#=$ .<&<7LL: .9'& .@%#7LL: 9
.##@ .### .$&= .### .#'& .###
@## @## @## @## @## @## @##
LL orrelation is significant at the level 7@ tailed:
Lorrelation is significant at the #.#' level 7@ tailed:
!able 3(:
Regression o0el
Mode - - )@uare Ad'usted -
)@uare
)td.0rror of
the 0sti5ate
9 .>9&7a: .$&@ .$'' .>&%
a 'redictors9 "steady#, Benefts, Aecognition, Iorking 3ours, 'ay , Job +ecurity ,
'romotion