Posted on 8th Dec 2024 01:29:22 AM Management
1.1 INTRODUCTION
Job Satisfaction has become such an important issue in this modern era that is considered by every institution. The concept of job satisfaction has emerged and now there are several motivational factors contributing to it, which are monetary and non-monetary. Job satisfaction is the favorableness or un-favorableness with which employees view their work and it is affected by both the internal and external environment of the organization, job design and various motivational factors that impact the job satisfaction.
Jobs that are enriched with various positive motivational factors such as: higher salary, participation in decision making, friendly behavior from top management, co-operative environment, good relationship and attitude of the other employees, political environment, financial facilities, transportation facilities, accommodation facilities, office environment, security facilities, insurance facilities, entertainment facilities, maintaining tendency of accurate starting and closing time of office, promotion opportunities and time gap between promotion, various training and seminar offering for employees to improve performance, salary increment rate, reward system for performance, bonus and other fright banalities, social status of the job, principles of the management and other extra facilities, have get more job satisfaction.
Job satisfaction is one of the most popular and widely researched topics in the field of organizational psychology. Employees who have higher job satisfaction are usually less absent, less likely to leave, more productive, more likely to display organizational commitment, and more likely to be satisfied with their live. Job satisfaction is a factor that would induce the employee to work in the long-term position. Regardless of job satisfaction, the organization or firm would confront with the cost of recruitment caused by turnover.
In general, therefore, job satisfaction refers to an individual’s positive emotional reactions to a particular job. It is an affective pay attention to employees’ job satisfaction as well as reaction to a job that results from the person’s comparison of actual outcomes with those that are desired, anticipated, or deserved. Job satisfaction has significance towards human health both physical and mental and is positively or negatively correlated. Employees spend a major part of their lives at the workplace hence the factors related to job satisfaction and employee behavior and their implication are important to measure.
Today’s work environment is undergoing a major shift; factors such as globalization, growing economies, and improved technology are constantly presenting new challenges and creating new opportunities for people. The financial market specifically the private banking industry of Bangladesh has boomed in the last few years. Banking business has been gaining importance and priority in Bangladesh with the growing volume of trade and production in different sectors of our national economy and increased commercial activities over the years. Growth trend of banks indicate that, it began to increase sharply after the independence of Bangladesh. This simple statistics shows that, the banking habits of the common people not only increased but also the volume of works of the banks increased tremendously over the years. With nationalization of commercial banks in 1972, there occurred a great change in the banking activities and a new era in the history of banking in Bangladesh has been created. In order to encourage private investment, government allowed some local banks to operate business in the private sectors from 1982-1983. Now the commercial banking system banking system dominates Bangladesh’s financial sector. Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the sector. The banking system is composed of four state-owned commercial banks, five specialized development banks, thirty private commercial banks, and nine foreign commercial banks.
1.2 BACKGROUND OF THE STUDY
1.2.1 BANKING SYSTEM OF BANGLADESH
The banking system at independence consisted of two branch offices of the former state bank of Pakistan and the seventeen large commercial banks, two of which were controlled by Bangladeshi interests and three by foreigners other than west Pakistanis. There were fourteen smaller commercial banks. Virtually all banking services were concentrated in urban areas. The newly independent government immediately chosen is named it the ‘Bangladesh Bank’. Apart from the head office in Dhaka, it has nine more branches, of which two in Dhaka and one each in Chitttagong, Rajshahi, Khulna, Bogra, Sylhet, Rangpur, and Barisal.
The bank was responsible for regulating currency, controlling credit and administering exchange reserves. The members of the bank in all now stand at 48 in Bangladesh. The Bangladesh government initially nationalized the entire domestic banking system, proceeded to reorganize, and renamed the various banks. Foreign owned banks were permitted to continue doing business in Bangladesh. The new banking system succeeded in establishing reasonable efficient procedures for managing credit and foreign exchange. The primary function of the credit system throughout the 1970’s as to finance trade the public sector, which together absorbed 75% of total advances.
1.2.2 EVOLUTION OF BANKING IN BANGLADESH
The Jews in Jerusalem introduced a kind of banking in the form of money lending before the birth of Christ. The word ‘bank’ was probably derived from the word ‘bench’ as during ancient time Jews used to do money lending business sitting on long benches. First modern banking was introduced in 1668 in Stockholm as ‘Svingsspis Bank’, which opened up a new era of banking activities throughout the European Mainland.
In the early days of Vedic civilization banking in a haphazard or unplanned from existed in the south Asian region. The ancient Hindu scriptures as well as the Artha-Shastras of Kautilya are full of instances of some form of banking products like borrowing and lending money. The books of menu contain references regarding deposits, pledges, policy of loans and rates of interest. However, a chronological discussion on the evolution of banking in Bangladesh is presented below.
1.3 RATIONALE OF THE STUDY
Bank is an important financial institution, which perform pioneering role in the development of any country. Economic development of any country largely depends upon the development and smooth functioning of banks. The role of private commercial banks is of paramount important, because only nationalized banks are not able to maintain and improve the growth of economy of a country. Now a days, the private commercial banks are encountered several problems due to accelerated rate of competition and impact of job satisfaction of employees. No exhaustive research on this particular area of motivational factors that influencing job satisfaction in private banking sector has so far been done by any others researcher, although it’s a demandable topic. If a scientific and methodological research is conducted in this regard, it assumed that, this research may be helpful for the top management authority and HRM policy maker to improve their productivity and profit rate through creating and maintaining a high rate of job satisfaction by knowing the motivational factors that influencing it; and here lies the importance of this study.
1.4 OBJECTIVES OF THE STUDY
1.5 LIMATATIONS OF THE STUDY
In undertaking the research program, the researcher has faced various problems. Researcher has become capable to overcome some of those problems. However, some problems still exist in the study that is not possible to overcome by the author. Thus, the study has some limitations. These are as follows:
PREFACE
Education is the basic factor to acquire knowledge. There are two sides of education namely, theoretically and practically. Practical world is very odd and it can differ from theoretical knowledge. Besides, textbook practical training is necessary to achieve perfect knowledge. Practical education flourishes theoretical education in all respect. So, to have realistic knowledge about research preparation, it is essential for the student of Business studies.
The Management studies department of Rajshahi University arranged three months research program as a part of academic curriculum, for the MBA student. I have participated in finding the motivational factors that impact job satisfaction in private banking sectors in Bangladesh. I assigned to study “Impact of Motivational Factors on Job Satisfaction: A Case Study on Southeast Bank PLC in Rajshahi.” All effort have been made to keep the research paper free from errors and I hope that the report will prove helpful to all those interested in this field. If one will be benefited with this report my effort in will be successes.
CONTENTS
CHAPTER ONE – INTRODUCTION
1.1 Introduction
1.2 Background of the Study
1.2.1 Banking System of Bangladesh
1.2.2 Evolution of Banking in Bangladesh
1.3 Rational of the Study
1.4 Objectives of the Study
1.5 Limitation of the Study
CHAPTER TWO - REVIEW OF THE LITERATURE
2.1 Introduction
2.2 Related Literature Review
CHAPTER THREE - METHODOLOGY OF THE STUDY
3.1 Introduction
3.2 Research Methodology
3.3 Sampling of the Study
3.4 Sample Area
3.5 Sample Size
3.6 Sampling Selection Method
3.7 Nature and Sources of Data
CHAPTER-FOUR -THEORETICAL CONCEPTUAL FRAMEWOR
4.1 Introduction
4.2 Motivation
4.3 Attitude toward Reinforcement of Motivation
4.4 Job Satisfaction
4.5 Importance of Job Satisfaction
4.6 Motivational Factors
4.7 Motivational Factors and Job Satisfaction
CHAPTER-FIVE - FINDINGS AND ANALYSIS
5.1 Major Findings
5.2 Analysis
CHAPTER-SIX - RECOMMENDATIONS AND CONCLUSION
6.1 Recommendations
6.2 Conclusion
References
Appendix
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