MAMB3725 Literature Review Job Satisfaction Within a Bank Located in the Eastern Free State

Chapter 2

2.1. Introduction

This literature review aims to examine job satisfaction within a bank located in the Eastern Free State. The review draws on existing research to identify key findings and provide a comprehensive overview of the literature surrounding job satisfaction in the financial sector. To gather information, the review used a variety of data sources.

2.2. Definition of Job Satisfaction

According to the study by Pantha (2020), job satisfaction refers to an individual's overall level of contentment with their job and its various components. It is further stated that job satisfaction includes their satisfaction or dissatisfaction with their work and can be viewed as a measure of their psychological well-being. As opined by Ndum (2018), job satisfaction is a multifaceted concept that reflects an individual's subjective experience of their work environment and the extent to which it meets their needs and expectations. Moreover, Spector (2022) agrees with the perspectives of Ndum (2018) by mentioning that job satisfaction is a complex concept that takes into account various factors, such as pay, working conditions, opportunities for growth and development, relationships with colleagues and supervisors, and the meaningfulness of the work itself. It is a complex and intricate idea that relies on how an individual perceives their work environment and how well it caters to their needs and expectations.

2.3. Theories of Job Satisfaction

The concept of job satisfaction has been regarded as a complex one. There have been many attempts to explain it in various ways. Although there are differences between the concepts, it is not easy to separate motivation from job satisfaction. ”Job satisfaction is an individual's emotional response to his or her current job condition, while motivation is the driving force to pursue and satisfy one's needs” (Ndum, 2018, p17).

A scholar Muskat & Reitsamer (2020) stated that role theory is deemed a relevant theory in the area of OB (organizational behavior) which asserts that job satisfaction is robustly impacted by the alignment between workforce expectations and the demands of the company. It further asserts that workers establish some expectations regarding their roles in the company and when such expectations are not fulfilled, it might unfavorably influence their job satisfaction. Another studSchall (2019). confirms that the role theory says that job satisfaction is figured out by three major forces such as role expectations, ambiguity, and conflict. It has been found that role expectations mean particular actions and duties that are expected of a worker in a specific role. Role ambiguity arises if the expectations are not clear and make it complex for the workers to comprehend what is desired of them. Also, role conflict arises if it exists conflicting expectations put on a worker, making it complex for them to prioritize and fulfill such expectations.

Scholar Mitchell (2021) considered the expectancy theory as another major job satisfaction theory that elucidates how a person’s efforts, performance, and rewards impact their behavior and job satisfaction. It has been stated that job satisfaction is mainly impacted by a person’s viewpoint that their efforts might contribute to refined performance, and that optimized performance might lead to intended rewards. In regards to this theory, another study by Alam & Asim (2019) stated that in the banking industry, rewards like job security, promotion, and pay are deemed vital in influencing workforce job satisfaction. It also states that when a banking worker believes that his hard work might contribute to a promotion and an increase in his pay, he will be inspired to work harder to attain the goals. However, when he does not perceive that his hard work might contribute to any such rewards, he might be less inspired to put his additional effort.

2.4. Factors Affecting Job Satisfaction

It has been found that job satisfaction indicates favorable and unfavorable outlooks and feelings individuals possess about their work which contributes to the satisfaction and dissatisfaction levels to raise between the workers (Chanana, 2021). There exist numerous factors which can impact the level of job satisfaction. The factors are discussed below:

2.4.1. Workplace Environment

The quality of the work environment significantly impacts employee satisfaction, as indicated by the research conducted by Taheri et al. (2020). This finding is further supported by the study conducted by Garces & Ferreira (2019), which highlights the importance of working conditions in determining job satisfaction. Kang's (2021) study delved deeper into this topic by analyzing the sources of job satisfaction among different professions. It has been suggested by Ramli (2019) that workforces working in an adverse workplace setting might be usually dissatisfied. It is suggested further that to certify workers are gratified in such challenging circumstances, managers must refine the workplace environment. It might put workers at par with those working in normal situations. Another researcher Basalamah & As’ad (2021) agreed with these findings and found that for a business to be profitable, managers must certify to prioritize the creation of a favorable workplace setting that surges workers' morale and hence demonstrates efficiency. However, it has further been found that the majority of businesses do not attend to the work environment which leads to low worker efficiency. It is found that the work environment entails workforce well-being, job security, an intended relationship among peers, appreciation for fruitful efficiency, and motivation.

2.4.2. Promotion and Rewards

A study by Pfister (2020) highlighted the importance of showing appreciation in the workplace. The study emphasized that acknowledging and valuing employees can positively impact their sense of accomplishment and reduce negative emotions toward the organization. This implies that recognizing employees' contributions is crucial for enhancing job satisfaction. Wydyanto (2022) highlights the importance of external factors like recognition in determining job satisfaction levels. Recognizing and appreciating employees' efforts can enhance their work experience and lead to a more fulfilling and satisfying job. Expressing gratitude and acknowledging employees' efforts can significantly influence their job contentment and drive, leading to improved overall well-being and productivity. Additionally, job recognition is linked to promotion and career opportunities.

As opined by Koo et al. (2020), it can be said that promotions are found to offer prospects for individual development, enhanced accountability, and surged social status. It is also found that job satisfaction is the outcome of promotional prospects in the company. There exists a favorable relationship between promotion activities and the perceived performance of the worker. Moreover, the result agreed with another scholar Kibria et al. (2021) that numerous individuals experience satisfaction when they perceive that their forthcoming opportunities are effective. It might convert into prospects for progression and development in their present workplace or improve the prospect of hunting alternative employment. It is further confirmed by that when individuals perceive they possess restricted prospects for career advancement, their job satisfaction might decline. When companies desire to maximize the performance of workers in the company, fair promotion prospects must be offered to workers.

2.4.3. Pay and Benefits

According to Ali's (2018) extensive research on job satisfaction in the banking sector, several key factors positively and significantly affect employees' overall job satisfaction in this industry. Among these factors, is compensation. Similarly, Abdolshah's (2018) study also highlights the critical role of compensation in shaping job satisfaction for banking employees, with compensation ranking as the third most important factor affecting job satisfaction in the industry. Furthermore, Burhanudin's (2021) recent study further emphasizes the importance of financial compensation in determining job satisfaction for banking workers. According to a study by Alzubi et al. (2023), the relevance of equitable reward is deemed a force to consider in this research. It is found that workers demand some level of monetary rewards for their Corporate contributions and the pay makes a quantitative measure of a worker's worth. Furthermore, scholar Akbari et al. (2020) asserted that to compete for the most skilled workforce, businesses are required to offer appealing and equitable rewards. It is observed also that pay is deemed a stimulator for various workers initially, however, it is not an influential force over the long run. Besides, pay has a role to play in appealing and retaining workers at work. This is progressively becoming vital in current competitive, and economic settings wherein strategic compensation planning is required.

2.4.4. Supervisor Relation

Based on Ako's (2020) research, employees may not be satisfied with their jobs if their supervisors exhibit insensitivity, incompetence, and a lack of concern. This can lead to unfair treatment, biases, ignoring employee concerns, and poor supervisory practices that can negatively impact employee surveys. On the other hand, job satisfaction is significantly higher when supervisors are helpful, fair, competent, and efficient. This includes their ability to solve problems, coach and train employees, actively listen, and promptly communicate job-related information. Malik's (2019) study supports this, as it was found that knowledge sharing was the most influential knowledge management practice for employee job satisfaction. It is asserted by Modaresnezhad et al. (2021) that confidence in superiors is vital in implementing jobs given to workers. It is further found that attributes of leadership support entail impassively assisting workers who have problems at work, motivating employees for better performance, and offering inducements for them to subsequently improve performan ce. The scholar Kalliath et al. (2020) agreed with this by mentioning that if a worker feels cared about, his job satisfaction level will increase. Management and leaders demonstrate the business offering the workers feedback and suggestions on the business's part. It is found that if a worker gets more acclamations instead of complaints from his superior, a greater level of job satisfaction is attained.

2.4.5. Work-life Balance

”Work-life balance is a method which helps employees of an organization to balance their personal and professional life “(Ako, 2020, p. 26). Similarly, Ogunola's (2022) study fo und that both work-life and work-life balance quality significantly predicted job satisfaction among bank employees. Furthermore, Thifal's (2021) research revealed a strong and positive correlation between work-life balance and job satisfaction among working women. These findings suggest that organizations should prioritize developing and implementing policies that promote work-life balance to improve job satisfaction and overall employee well-being.

Faisal's (2022) research provides further support for the importance of work-life balance, as it was found to promote job satisfaction and psychological well-being, both of which are precursors to job performance. Kumari's (2019) study also found a positive influence of work-life balance on employee job performance and behavior, as it increased job satisfaction, commitment, and engagement. Additionally, Susanto's (2022) research highlighted the importance of family-supportive supervisor behaviors in moderating the relationship between work-life balance, job performance, and job satisfaction.

Overall, the papers reviewed in this text suggest that work-life balance is crucial for optimal job performance, job satisfaction, and overall employee well-being. Therefore, organizations should prioritize developing and implementing policies and programs that support work-life balance to promote positive outcomes for employees and the organization.

Conclusion

This literature review explores the complex issue of job satisfaction among employees working at a bank located in the Eastern Free State region. Various factors, such as compensation, work environment, and management, significantly influence employee satisfaction. Managers must prioritize employee recognition, achievement, and responsibility to improve the overall well-being and performance of the workforce. It is recommended that organizations establish a supportive and nurturing work environment that values and supports staff, promotes work-life balance, and prioritizes management, recognition, and career opportunities. By addressing employees' concerns and needs, a bank can foster a workplace culture that encourages job satisfaction and promotes long-term employee loyalty.

References

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