Book All Semester Assignments at 50% OFF! ORDER NOW

Title

Job Satisfaction in a Bank within the Eastern Free State

Chapter 1

Introduction

The study explores various factors that contribute to job satisfaction among employees, including the work environment, compensation, job security, opportunities for growth and development, and overall employee morale. Through this research, we hope to gain a better understanding of the factors that impact employee satisfaction and identify potential areas for improvement within the banking industry.

Background

As per Bhardwaj et al. (2021), human life has become extremely intricate and difficult currently. It is said that the desires and requirements of the individuals in the contemporary society are ever progressing and changing. With this, the needs of the individuals are not met they become dissatisfied. It is found that the dissatisfied individuals are probable to lead extremely less for any motive. It is asserted that job satisfaction is deemed very renowned and broadly explored topic in the area of management and social science studies. Job satisfaction is described as a pleasant or constructive emotional state emanating from the appraisal of an individual’s job or work experiences. It has been explored as an outcome of numerous individual and workplace setting attributes and as a precursor to myriad of outcomes. The workers who possess greater job satisfaction are typically less absent, less probable to leave, more fruitful, more probable to reflect corporate commitment, and more probable to be gratified with their lives. The job gratification of workers in industry is extremely vital for the sector to operate effectively (Chahal et al., 2013).

A sector which needs an enormous emphasis on job satisfaction is the banking sector. It is well-known as bank jobs are known for their demanding workplace setting, elongated hours, and higher-pressure conditions that can impact workforce’s mental and emotional welfare. Therefore, in this situation, it ois vital for banks to certify that their workers are gratified with their jobs, offering them with a constructive and supportive workplace setting which facilitates them to perform to the best of their capabilities. It is said that the banking industry accounts enormously to the entire growth of the economy. The workers which are happy at their jobs possess a constructive view in their individual lives that leads to a social setting which is expressively robust. It has been found that there exist myriad of factors in banking sector which can impact an individual’s level of job gratification (Alam, 2023).

The bank being researched was founded in South Africa in 1862 and currently provides innovative and personalized solutions to its African clients in 20 countries across the continent. The bank has three primary segments: Consumer & High Net Worth, Business & Commercial, and Personal Private Banking. It has several branches in Senekal, Clocolan, Ficksburg, Bethlehem, Reitz, Heilbron, Sasolburg, Frankfort, Vrede, Phuthaditjhaba, and Harrismith. According to N. Thamae, Business Partner, People and Culture at the bank, these branches employ a total of 130 people, including 43 males and 87 females. Of these, 102 are African, five are Coloured, 19 are White, and four are Indian.

The bank has developed plans to improve job satisfaction and promote employee growth. These include creating a positive organizational culture, implementing wellness initiatives, and launching an employee recognition program to acknowledge outstanding performance. Additionally, the bank aims to provide on-the-job leadership training to support managers in mentoring, leading, and developing their team members. According to Bhardwaj, Mishra, and Jain (2021), maintaining a leadership style that helps employees achieve their goals and perform better will motivate and satisfy them. In contrast, Huang (2020) argues that job training satisfaction can only be achieved through a well-prepared and designed training program. Employees with a positive experience with the job training program tend to have higher job satisfaction and job performance.

The bank plans to measure staff job satisfaction through surveys. To achieve this, the bank intends to create an internal corporate culture with a measurable purpose, which can be promoted through employee surveys and feedback systems. This tool will allow employees to rate their leaders on all aspects of their work, such as job satisfaction, work motivation, and manager confidence. Employee surveys can efficiently and cheaply measure job satisfaction, whereas interviews are rarely used due to cost (Spector, 2022). The annual employee survey (AVAF) results showed a decline in the development opportunities category from 5.7% in 2020 to 5.6% in 2021. Moreover, the percentage of employees who are satisfied with their jobs has decreased from 5.9% in 2020 to 5.8% in 2021.

Problem Statement

Because of the saying that national banks are deemed service-based companies, their efficiency and performance are mainly proportional to the workforce’s performance. Due to the growing influence of technical progressions, workforces have become a progressively vital element of a country’s welfare and development (Sepdunha, I. F., & Thoyib, A. (2023). The pertinent job gratification and workplace motivations are considered vital facilitators of corporate commitments. The workers who are deemed to be a vital resource of the company, lead to the attainment of their goals by bringing the company together. by assessing job gratification, it becomes likely to differentiate between diverse extents of satisfaction in different corporate units (Faroque et al., 2020).Furthermore, the problem is that the annual job satisfaction measurement Survey has shown that employees at a Bank in Eastern Free State are experiencing decreased job satisfaction. If this issue is not addressed, it may lead to even more employee dissatisfaction, which could result in a reduced quality of service provided to customers. Additionally, this dissatisfaction may cause an increase in absenteeism and a decrease in productivity. It is essential to address this problem to ensure a positive work environment for employees and maintain high-quality customer service.

Research Objectives

Primary Objectives

The primary objective is to explore job satisfaction within a Bank Eastern Free State.

Secondary Objectives

  • To provide an overview of the factors influencing job satisfaction
  • To analyse the factors influencing job satisfaction in a bank in the Free State
  • To provide strategies to the management of the bank regarding addressing the job satisfaction of employees.

1.4. Research Methodology

1.4.1. Research Design

A research design, also known as a research strategy (McCombes, 2019), is a plan created to answer a set of questions. It contains the methods and procedures required to collect, analyze, and interpret data. This research project will use a quantitative approach to achieve its research goals.The current study will choose exploratory research design since it pursues to discover notions and perceptions to bring out novel relations. This design is chosen since it is flexible enoiugh to offer chance to consider diverse areas of problem under study. This further assists to bring into emphasize more intrinsic weaknesses in the bank about which depth-in study is carried out by management (Casula et al., 2021).

The questions posed will be answered using the quantitative approach. Quantitative research utilizes structured procedures and formal instruments for data collection. The data is collected objectively and systematically, and the analysis of numerical data is performed using statistical procedures. When possible, collecting quantifiable variables and sampling the population allows for appropriate use of quantitative research methods. (Queirós et al., 2017).

  • Sampling Strategy

Sample strategy is the approach which aims to choose respondents for the study. Sampling indicates a set of small people from a larger population to carry out a survey or conduct study. According to Stratton's (2021) research, sampling is a useful technique when it is not possible to involve the entire population or identify all members of the target population. This method allows for the collection of data that accurately represents the population. There are two kinds of sample selection methods namely probability and non-probability. Probability sampling is useful for descriptive research techniques while non-probability is helpful for exploratory studies. The non-probability method mainly relies on the scholar’s expertise and is conducted through their observation. For this research project, we will employ non-probability convenient sampling, which targets a sample of the population that can be accessed realistically. Stratton (2019) explains that data collected through convenient sampling can reasonably represent the population being studied. The scholar choose this technique of sampling since it is problematic to carry out random probability sampling because of time restrictions and cost considerations.

  • Non-probability sampling

According to Stratton (2021), probability sampling methods are considered more objective than non-probability techniques. On the other hand, Bhardwaj (2019) defines non-probability sampling as a method where the probability of each member of the population being selected in the sample is unknown. This type of sampling involves the researcher selecting participants who either refer themselves or are referred to the researcher instead of providing every member of the target population an opportunity to participate in the study. This type of sample is most useful with fixed time-frames and minimal resources, but its effect on the generalizability of data must be carefully considered (Mellenbergh, 2019).

  • Convenient sampling

Convenient sampling is a method that selects sampling units based on their availability at a certain point in time, as explained by Imam (2021). This method assisted the scholar to attain a massive number of completed survey promptly. It is a non-probability sampling that entails the sample being drawn from that section of the population that is close to hand. According to Nthabiseng Thamae (2021), the people and culture partner at the Bank, there are 130 employees across 10 branches in the area. For this investigation, a sample of 76 employees will be interviewed with a confidence level of 99% and a margin of error of 5% (Monkey Survey, 2023). However, the bank requires the sample size to be no more than 50 participants before granting permission. The sample size is essential because the investigation aims to conclude the population based on the sample (Taherdoost, 2017). To determine the necessary sample size, the researcher will approach 73 participants from 10 different branches and use the Survey Monkey sample size calculator. Adhikari (2021) recommends using the G power test and other statistical software to calculate precise sample sizes for future investigations.

  • Data gathering Method

There are two methods of collecting data namely primary and secondary. To gather data for this research project, we will be using the AVAF survey as our primary source. This will consist of multiple choice questions. Based on the results, a questionnaire will be developed to achieve the aims of this research (Hackett, 2019). This technique is chosen because of the benefits linked with the technique like low costs of administration, and it can be useful for a large sample as well. The questionnaire will help us to understand job satisfaction and the data collected will be analyzed using quantitative methodology. The survey questionnaire will be sent to the chosen bank workforces sampled with a quest to respond to the answers. The secondary data will be gathered using various sources such as peer-reviewed journals; books; magazines; newspapers; industry reports; government websites; and so on (Ruggiano & Perry, 2019).

Data Analysis

After the collection of the data, the scholar moves to the activity of assessing them. The data analysis needs numerous closely associated functions like development of categories; use of such categories to raw data via tabulated data; and draw statistical inferences from them. After the collection of distributed surveys, the answers derived will be coded in a manner that entire answers might be evaluating easily. Percentages, frequencies, mean technique will be used to elucidate the answers gathered from the primary data. In this study, the scholar will analyze the data using suitable techniques and tools with the help of descriptive statistics. The coded data will be made and assessed via SPSS analysis and MS Excel which will be used to analyse the data collected. This helps the researcher to attain meaningful outcomes from the primary data (Roni & Djajadikerta 2021).

  • Ethical Consideration

Before beginning the research project, it is crucial to obtain ethics clearance from the relevant stakeholders. Ethics in research are guidelines that regulate researchers to follow a strict code of ethics and establish principles for conducting professional research. Upholding ethical principles and behaviours throughout the research project is imperative, as highlighted by Hasan et al. (2021).

  • Permission obtained

Before conducting a study among participants, it is essential to obtain permission from the relevant department. Ms. Kim Thompson, the Head of People and Culture: Engagement and Culture Insights, has granted provisional authorization for the study to be conducted within the Eastern Free State Catchment. Once the university clears and accepts the research proposal, the Bank will receive formal documentation. This documentation is necessary to prove that the study is legitimate and authorized and also for record-keeping purposes. It also serves as evidence of official approval for participants.

  • Informed consent

Obtaining informed consent is an essential process when conducting research. It involves the participants having a clear and comprehensive understanding of the risks and benefits of participating in the study. Manti and Lacari (2018) recommend that researchers create an informed consent form that is easy to comprehend and provides sufficient information to participants about the research, the activities they are required to perform, the purpose of the data collected, and contact information for further inquiries. Participants must have the freedom to choose whether or not they wish to participate in the study without any repercussions. Voluntary participation means that participants have the right to withdraw from the study at any time. It is also important to communicate any potential risks to participants (Recker, 2013).

  • Confidentiality and Data Protection

Maintaining confidentiality of participants is of utmost importance for researchers. They need to ensure that personal information is kept private and no names are disclosed. This becomes even more crucial when working with vulnerable groups and individuals (Surmiak, 2018). For this research project, it is vital to inform participants that no identifiable information will be collected, and none of the data will be used against them. The management will not be informed of which employees participated. The researcher will be the only person who accesses and stores the data on a password-protected computer. In case printed questionnaires are used, the researcher will collect the data and shred the physical forms to maintain confidentiality.

  • Voluntary participation

In order to ensure that participation is voluntary and avoid any form of coercion, all individuals involved in the study must willingly choose to take part (Clark-Kazak, 2017). Prior to the commencement of the research, the researcher will obtain consent from each participant and inform them that they can withdraw from the study at any time. No participant will be pressured or obligated to participate in the study.

  • No Harm

When conducting research, it is important to consider the potential harm that participants may experience. This harm can take different forms, including social risks, public humiliation, or stigmatization. The purpose of this research is to gain insight into a problem that negatively affects employees and to identify ways to address it in order to improve their work experience (Sim & Waterfield, 2019). Moreover, these findings can guide management in implementing measures to facilitate these enhancements.

Conclusion

The aim of this research project is to analyze the levels of job satisfaction among the employees working at a bank located in the Eastern Free State. Standard Bank has implemented various measures to support its employees such as providing opportunities for educational advancement and review procedures to evaluate employee experiences. However, it is unclear whether these initiatives have had a significant impact on employee relations and job satisfaction. The objective of this study is to obtain insights that can facilitate the enhancement of employee relations within the organization.

References

Adhikari, G. P. (2021). Calculating the sample size in Quantitative Studies. Scholars’ Journal , 14–29. https://doi.org/10.3126/scholars.v4i1.42458

Ruggiano, N., & Perry, T. E. (2019). Conducting secondary analysis of qualitative data: Should we, can we, and how?. Qualitative Social Work , 18 (1), 81-97.

Bhardwaj, A., Mishra, S., & Jain, T. K. (2021). An analysis to understanding the job satisfaction of employees in banking industry. Materials Today: Proceedings , 37 , 170-174.

Ajayi, M. P. & Abimbola, O. H. (2013). Job satisfaction, organisational stress and employee performance: A study of NAPIMS. IFE PsychologIA: An International Journal, 21 (2) 65-74. 

Amphlett, G. T. (1914). History of the Standard Bank of South Africa Ltd. R Maclehose. 

Chahal, A., Chahal, S., Chowdhary, B., & Chahal, J. (2013). Job satisfaction among bank employees: An analysis of the contributing variables towards job satisfaction. International journal of scientific & Technology research , 2 (8), 11-20.

Bhardwaj, A., Mishra, S., & Jain, T. K. (2021). An analysis to understanding the job satisfaction of employees in banking industry.  Materials Today: Proceedings ,  37 , 170-174. 

Bhardwaj, P. (2019). Types of sampling in research. Journal of the Practice of Cardiovascular Sciences , 5 (3), 157. https://doi.org/10.4103/jpcs.jpcs_62_19

Chaturvedi, D.M., & Raavi, S. (2019). A Study on Employee Job Satisfaction in Different Sectors. International Journal of Scientific Engineering and Research, 7 (1), 105-108. 

Cherif, F. (2020). The role of human resource management practices and employee job satisfaction in predicting organizational commitment in Saudi Arabian banking sector.  International Journal of Sociology and Social Policy ,  40 (7/8), 529-541. 

Dalkrani, M., & Dimitriadis, E. (2018). The Effects of Job Satisfaction on Employee Commitment. International Journal of Business and Economic Sciences Applied Research, 11 (3) 1-9. 

Etikan, I., & Bala, K. (2017). Sampling and sampling methods.  Biometrics & Biostatistics International Journal ,  5 (6), 00149. 

Hackett, P. (2018). Quantitative Research Methods in Consumer Psychology. Routledge. 

Hasan, N., Rana, R.U., Chowdhury, S., Dola, A.J., & Rony, M.K. (2021). Ethical Considerations in Research.  Journal of Nursing Research, Patient Safety and Practise , 1 (1), 1-4. 

Huang, W. (2020). Job Training Satisfaction, Job Satisfaction, and Job Performance. In J. Fahed-Sreih (ed)  Career Development and Job Satisfaction (pp. 25-46). IntechOpen. 

Imam, E. (2021). Basics Of Research Methodology ([edition unavailable]). NEW INDIA PUBLISHING AGENCY (NIPA). https://www.perlego.com/book/1975367/basics-of-research-methodology-pdf

Roni, S. M., & Djajadikerta, H. G. (2021). Data analysis with SPSS for survey-based research . Singapore: Springer.

Lau, R. S. M., & May, B. E. (1998). A win‐win paradigm for quality of work life and business performance.  Human Resource Development Quarterly ,  9 (3), 211-226. 

Casula, M., Rangarajan, N., & Shields, P. (2021). The potential of working hypotheses for deductive exploratory research. Quality & Quantity , 55 (5), 1703-1725.

Lindawati, M., & Parwoto, P. (2021). The Impact Of Transformational Leadership And Motivation On Employee Performance With Job Satisfaction As Intervening Variable In Indonesian Banking Industry During Digital Transformation.  Journal of Industrial Engineering & Management Research ,  2 (4), 51 - 66. https://doi.org/10.7777/jiemar.v2i4.162 

Manti, S., & Licari, A. (2018). How to obtain informed consent for research.  Breathe, 14 , 145 - 152. 

Alam, M. T. (2023). Job Satisfaction of Bank Employees: a case study of padma bank.

Mishra, P., Pandey, C. M., Singh, U., Keshri, A., & Sabaretnam, M. (2019). Selection of appropriate statistical methods for data analysis.  Annals of cardiac anaesthesia ,  22 (3), 297–301. https://doi.org/10.4103/aca.ACA_248_18 

Queirós, A., Faria, D.J., & Almeida, F.L. (2017). Strengths and limitations of qualitative and quantitative research methods.  European Journal of Education Studies , 3 (9) 369-387. 

Sepdunha, I. F., & Thoyib, A. (2023, July). The Role of Leadership Style and Organizational Culture on Employee Performance with the Mediation Variables of Job Satisfaction and Moderation Variables of Organizational Support. In 1st Brawijaya International Conference on Business and Law (BICoBL 2022) (pp. 163-172). Atlantis Press.

Sim, J., & Waterfield, J. (2019). Focus group methodology: some ethical challenges. Quality & quantity , 53 (6), 3003-3022.

Recker, J. (2013). Scientific Research in Information Systems - A Beginner's Guide . Springer Berlin. 

Samanta, A. (2017). Employee Satisfaction and Quality of Work Life: A Review of Literature.  International Journal of Trend in Scientific Research and Development , 356-360. 

Sample size calculator: Understanding sample sizes . SurveyMonkey. (n.d.). https://www.surveymonkey.com/mp/sample-size-calculator/

Samuel, B.A., & Amah, D.E. (2018). Succession Planning and Organizational Survival. International Journal of Business Systems and Economics, 12 (2) 26-44. 

Sin, C. H. (2005). Seeking informed consent: Reflections on research practice.  Sociology ,  39 (2), 277-294. 

Faroque, O., Ferdausy, S., & Rahman, M. S. (2020). Factors affecting the job satisfaction of the employees in the private commercial banks of Bangladesh. Journal of Management Research , 6 (1), 17-33.

Skowronek,D. &Duerr, L.(2017). The convenience of nonprobability:Survey strategies for small academic libraries. College & Research Libraries News, 70(7), 412-415.

Spector, P. (2022). Job Satisfaction (1st ed.). Taylor and Francis. https://www.perlego.com/book/3190286/job-satisfaction-from-assessment-to-intervention-pdf 

Sonika, G. (2020). Factors Influencing Job Satisfaction in Banking Industry: Systematic Literature Review.  Journal of emerging technologies and innovative research, 7 (2) 90-94.

Srivastava, S., & Kanpur, R. (2014). A study on quality of work life: key elements & It’s Implications. IOSR Journal of Business and Management, 16 (3), 54-59. 

Standard Bank (2022). Annual Integrated report 2021 . Johannesburg: Standard Bank Limited. https://www.standardbank.com/static_file/StandardBankGroup/filedownloads/AIR/AnnualIntegratedReport2021.pdf 

Stratton, S.J. (2019). Quasi-Experimental Design (Pre-Test and Post-Test Studies) in Prehospital and Disaster Research.  Prehospital and Disaster Medicine, 34 (6), 573 - 574. 

Stratton, S. (2021). Population Research: Convenience Sampling Strategies. Prehospital and Disaster Medicine, 36 (4), 373-374. doi:10.1017/S1049023X21000649

Stratton, S. (2021). Population Research: Convenience Sampling Strategies. Prehospital and Disaster Medicine, 36 (4), 373-374. doi:10.1017/S1049023X21000649

Surmiak, A. D. (2018). Confidentiality in Qualitative Research Involving Vulnerable Participants: Researchers' Perspectives. Research Ethics in Qualitative Research, 19 (3) 1-26. 

Sypniewska, B. A. (2014). Evaluation of Factors Influencing Job Satisfaction. Contemporary Economics, 8 (1) 57-72. 

Taherdoost, H. (2017). Determining Sample Size; How to Calculate Survey Sample Size.  International Journal of Economics and Management Systems, 2, 237-239.
You May Also Like:

Organisational Psychology Assignment Help

Outstanding Assignment of the Week - Nursing Assignment

Teacher Self-Efficacy and Teacher Job Satisfaction Assignment Sample

Hey MAS, I need Assignment Sample of

Get It Done! Today

Country
Applicable Time Zone is AEST [Sydney, NSW] (GMT+11)
+
  • 1,212,718Orders

  • 4.9/5Rating

  • 5,063Experts

Highlights

  • 21 Step Quality Check
  • 2000+ Ph.D Experts
  • Live Expert Sessions
  • Dedicated App
  • Earn while you Learn with us
  • Confidentiality Agreement
  • Money Back Guarantee
  • Customer Feedback

Just Pay for your Assignment

  • Turnitin Report

    $10.00
  • Proofreading and Editing

    $9.00Per Page
  • Consultation with Expert

    $35.00Per Hour
  • Live Session 1-on-1

    $40.00Per 30 min.
  • Quality Check

    $25.00
  • Total

    Free
  • Let's Start

Get
500 Words Free
on your assignment today

Browse across 1 Million Assignment Samples for Free

Explore All Assignment Samples

Request Callback

My Assignment Services- Whatsapp Get 50% + 20% EXTRAAADiscount on WhatsApp

Get 500 Words FREE