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Job satisfaction of employees in Banks; evidence from Sri Lankan Banks

Devi and Nagini (2013) explained Job satisfaction as a pleasant feeling experienced by the employee when there is a fit between what he expects and what he actually derives from his job. According to the nature of human beings, identifying job satisfaction factors is very difficult due to the variation of their needs and expectations. Every organization faces difficulties in filling the gap between reality and expectation of employees while many of the employees are not satisfied with this gap, which may lead to job dissatisfaction and turnover of employees. When considering the organizational aspect, it is not good for long term success as well as the organization's reputation. (Grover and Wahee, 2013).

The banking sector in Sri Lanka composed of Licensed Commercial Banks (LCBs) and Licensed Specialized banks (LSBs), dominates the financial system and accounts for the highest share of the total assets in the financial system. According to statistic, there are around 5000 employees working in banks while earning  US$93.03 million as net profit with US$6.4 billion assets (www.cbsl.gov.lk).

Globalization trends create challengeable situations to the business that makes it hard to protect their competitive advantages. This trends affected the banking sector which was very competitive. Employees of the banking sector were more involved in their jobs than in the last decades and it resulted in a to unbalance the work-life balance and ultimately it made a dissatisfied workforce in the banking sector (Tanvi & Fathma 2012). However, there are no significant differences that existed in the job satisfaction with gender, age, years of experience, marital status and nature of the organization.  But, employee’s educational qualifications and ethnicity impact on job satisfaction (Ahamed,2016). Furthermore, the number of studies has shown a positive relationship between job satisfaction and work-life balance (Dev, 2012; Noor, 2011). According to the Sri Lankan culture, women always were affected due to consequences of work-life balance and job satisfaction and it will lead to show a  higher labour turn over in the Banking sector in Sri Lanka.

References

Ahamed, M.I.R.(2016) Job satisfaction of bank employees in government and private banks in Ampara region, Sri Lanka. MA thesis, Southeastern University of Sri Lanka.

Central Bank of Sri Lanka, Available from <https://www.cbsl.gov.lk/en/financial-system/financial-system-stability/banking-sector>.

Dev, G.N., (2012), Employees’ perception on work-life balance and its relation with job satisfaction in Indian public sector banks, International Journal of Exclusive  Management Research, vol.2, no.2, pp. 1-13.

Devi, V.R. and Nagini, A., (2013). An Investigation of Factors Influencing Job Satisfaction of Employees in the Banking Sector of India. Asian Research Consortium; International Journal of Research in Organizational Behavior and Human Resource Management, vol.1, no.3, pp.107-115.


Comments

  1. Mazeen MansoorMay 31, 2019 at 11:47 PM

    But the organisational culture in the banks in Sri Lanka let the employees being engaged to the banks, sometimes this can reduce the employee turnover, because they have a very friendly culture which is similar to a family meanwhile the inevitable staff benefits given by the banks support them to stay with the banks

    ReplyDelete
  2. SudarshanaJune 8, 2019 at 7:23 AM

    Nice write up. Usually women get affected by the work life balance but the flexible work arrangements can use to minimize the effect.

    ReplyDelete
  3. harshaJune 11, 2019 at 9:06 AM

    As you have clearly shown the job involvement of sri-lanka banking sector increased recently. And this has highly affected the work-life balance of women and their job satisfaction

    ReplyDelete

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