'The future of Banking Industry requires a wider focus on Employee Satisfaction'

Given below are few strategies to be taken by the Management to create a work setting which enhances employee satisfaction. - Establishment of a Competency Development Employee satisfaction though competency development can be used as a main tool in achieving the expected milestones of the bank. Employee retention and engagement Organizations with the highest employee retention have committed to rich professional development cultures and have effective performance management processes. Specially situations like post Covid-19 despite to the people lost their jobs employees who have proven talent and skills received lot of offers from competitor companies. Therefore, Banking industry can be used the Competency Framework to have proper planning and implement a productive competency framework in order to develop employees’ talents to equip them to face the challenges in the construction industry. Moreover, according the past performance of the bank it is need to gain more value from its hu...

Job dissatisfaction is a serious matter in every company, it affects productivity and like a disease  can spread  and demoralize the workforce. However, it should not be a major problem as most of the causes of dissatisfaction can be corrected. Finding a solution to employees’ displeasure can remedy this issue and veer towards productivity which can be attained in a conducive place to look How Companies Can Combat Job Dissatisfaction Here are some ways how enterprises or managers can fight employee job dissatisfaction and prevent an employee from being unhappy at work: Provide Clear Set of Goals and Instructions Make sure to set clear goals and instructions to your employees. By providing them clear instructions, they will have confidence in their performance and duties. You should also make yourself available if they have queries or instructions that are not clear to them. Give Your Employees Variety of Work Assigning repetitive work to an employee can be monotonous and resul...

Let's listen to some opinion from a leader https://www.youtube.com/watch?v=zBQa48lLuVg&t=8s Job dissatisfaction refers to unhappy or negative feelings about work or the work environment. There exist many factors which may result in job dissatisfaction. Some of them are poor working conditions, overwork, low levels of pay, no scope of promotion or career advancement and lack of recognition. But what is worst are the consequences of job dissatisfaction which affect both the employees and the organization. It may result in loss of motivation, lack of interest, frustration, poor productivity, absenteeism, and even high turnover rates. There are several specific causes for job dissatisfaction, but it is understood there are four main areas that reside in this issue. Causes of Job Dissatisfaction are;      Underpaid. Limited Career Growth. Lack of Interest. Poor Management. Unsupportive Boss. Lack of Meaningful Work. Opportunities for growth or incentives for meaningful wor...

  3.1 FACTORS OF JOB SATISFACTION. Many researchers listed various factors influence the job satisfaction when doing their studies on job satisfaction (Herberg, Mausaer, Peterson & Capwell in 1957). ❖  Supervision. This reflects relationship with his immediate supervisors. Supervision as a factor generally influences the Job satisfaction. ❖  Working Condition. This includes all aspects of environment which are not necessary a part of the work. Like; functions of the organization which affects the individual comfort and physical working condition. ❖  Wages and Salaries. This factor includes all aspect of the job involving present monitory remuneration for work done. ❖  Opportunities for advancement. This includes all aspects of job which individual sees as potential source of betterment of economic position, organizational status or professional experience. ❖  Security. This leads to assurance for continued employment, either within the same company or w...

  2.1 FINDINGS ON JOB SATISFACTION   Due to the popularity of job satisfaction within the field of occupational and organizational psychology, different authors, researchers give varies definitions of what the job satisfaction is. However the two most common definitions describe the job satisfaction as follows. ❖ “The pleasurable emotional state resulting from the appraisal of one’s job as achieving or facilitating the achievement of one’s job values (Locke, E.A. , 1976)” ❖ “The extent to which people like (satisfaction) or dislike (dissatisfaction) their jobs (Spector, P.E. , 1997)” As well as; ❖ Job satisfaction is general attitude, which is the result of many specific attitudes in three areas namely, Specific job factors. Individual characteristics. Group relationship outside the job. (Blum and Naylor, 1968) ❖ Job satisfaction is defined, as it is result of varies attitudes the person hold towards the job, towards the related factors and towards the li...

1.1 GENERAL INTRODUCTION TO THE SRI LANKAN BANKING INDUSTRY Sri Lankan banking industry is one of the most versatile and competitive industry which subjects to many environmemtal dynamics both in local and global context. Sri Lanka comprises of 24 Licensed Commercial Banks, 06 Licensed Specialized Banks which are govern and monitored by the Central Bank of Sri Lanka’s (CBSL) and are listed below; Table 1 Banking System Sri Lanka Licensed Commercial Banks Amana Bank PLC MCB Bank PLC Bank of Ceylon National Development Bank PLC Bank of China Ltd Nations Trust Bank PLC Cargils Bank Ltd Pan Asia Banking Corporation PLC Citi Bank N.A. People’s Bank Commercial Bank of Ceylon PLC Public Bank Berhad Deutsche Bank AG Sampath Bank PLC DFCC Bank PLC Seylan Bank PLC Habib Bank Ltd Standard Cha...