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Job Satisfaction Report

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PREPARED BYSheikh M. Sikandar

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ABSTRACTThis study composes of details about employees satisfaction by which individuals organize and interpret their perception in order to give meaning to their job environment. However, what one perceives can be substantially different from reality. This study was done to understand the employee perception about job satisfaction with regard to various organizational aspects. To further develop an understanding regarding how employees perform their work we have included details gathered through interviews and questionnaires which were used as a source to collect primary data. This report will also help you in knowing working conditions, structure and their value as an employee in Soneri Bank Limited.

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I would like to thank my respected mentor Ms. Saima Zia whose lectures and explanations has guided me in different phases of this report. My salutation and acknowledgment to her for providing the foundation of this subject Organizational Behavior. She has provided me an opportunity to improve my skills. Without her explanations and guidance this task would have been of immense difficulty.

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INTRODUCTIONImplementing an employee satisfaction survey can be used to measure the levels of satisfaction and identify opportunities for improvement as perceived by the employees in Soneri Bank Limited. Those employees who are not satisfied with their jobs are likely to resign. If they dont leave they can become a source of bad morale and do a great harm to the organization. In other case if they are satisfied, they can become source of great inspiration for other employees and can increase organizations productivity by taking interest in achieving the goals of organization. Most of the times employers without proper data, assume the wrong reasons for employee dissatisfaction. In fact many bosses automatically think that money is the main reason for employee dissatisfaction. Therefore assessing employees on a regular basis is important to stay in touch with the employees and to have real data and react accordingly. The action of the employees like absenteeism and turnover are based on how much they are satisfied with the organization. The main objective of this study was to study the level of employees satisfaction about the different factors like management, working environment, interpersonal relationships, pay and organizational culture. Employee satisfaction survey is a useful mean of measuring and acting upon, employees' beliefs on several jobrelated matters. This helps the managers to understand what the employees feel about the organization. Corrective measures could be implemented by the organization in the areas where it is required. Through this the company would achieve better results in terms of higher returns and quality work.

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Job satisfaction describes how content an individual is with his or her job. There are a variety of factors that can influence a persons level of job satisfaction. Some of these factors include the level of pay and benefits, the quality of the working conditions, leadership and social relationships, the job itself. The happier people are within their job, the more satisfied they are said to be. Job satisfaction is not the same as motivation, although it is clearly linked. Job satisfaction and performance methods include job rotation, job enlargement and job enrichment. Other influences on satisfaction include the management style and culture, employee involvement and empowerment.

JOB SATISFACTION IN THE LIGHT OF DIFFERENT THEORIESJob satisfaction is a very important attribute which is frequently measured by organizations. Many theorists believed that motivation is the core factor of employees job satisfaction. If the employee is motivated, he will be more willing to perform his tasks and would not feel over burden of their work because he is motivated therefore doesnt feel hectic of daily routine. Here are some theories that define job

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satisfaction in more adequate manner:

Affect Theory

Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job satisfaction model. The bases of this theory are that satisfaction is determined by a difference between what one wants in a job and what one has in a job. Further, the theory states that how much one values a given facet of work, the degree of autonomy in a position moderates how satisfied/dissatisfied one becomes when expectations are not met. When a person values a particular facet of a job, his satisfaction is more greatly impacted both positively (when expectations are met) and negatively (when expectations are not met), compared to one who does not value that aspect.

Dispositional Theory Another well known job satisfaction theory is the Dispositional Theory. It is a very general theory that suggests that people have innate dispositions that cause them to have tendencies toward a certain level of satisfaction, regardless of ones job. This approach became a notable explanation of job satisfaction in light evidence that job satisfaction tends to be stable over time and across careers and jobs. Research also indicates that identical twins have similar levels of job satisfaction. There are four Core Self-evaluations that determine ones disposition towards job satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher levels of self-esteem (the value one places on his self) and general self-efficacy (the belief in ones own competence) lead to higher work satisfaction. An internal locus of control (believing one has control over her/his own life, as opposed to outside force shaving control) leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction.

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Two Factor Theory (Motivation Hygiene Theory) Fredrick Herzbergs Two factor theory (also known as Motivator Hygiene Theory) attempts to explain satisfaction and motivation in the workplace. This theory states that satisfaction and dissatisfaction are driven by different factors motivation and hygiene factors, respectively. He believed that at workplace people have needs which they want to be fulfilled because with the fulfillment of need, people will be more productive for organization. His research has two factors which has impact on people. Hygiene factors will reduce dissatisfaction but it will not lead to absolute satisfaction. It is to attain the people towards work. Managers try to avoid the dissatisfaction of employees by providing hygiene factors like adequate salary, good working condition etc where as motivators are to retain the employees in organization by making their work recognized, handing them responsibilities by empowering them authority. The job satisfaction will lead to improvement in productivity.

Brief History of Soneri BankHistory: Soneri Bank Limited was incorporated in Pakistan on 28 September 1991 as a public limited company under the Companies Ordinance, 1984 with registered office in Lahore. The Bank opened the first branch for operations on 16 April 1992 in Lahore which was followed by Karachi Branch on 09 May 1992. The bank now operates its 200 branch network all over the country including the Northern Areas of the country. The bank considers its employees as the biggest and valued asset. Products And Services Offered By Soneri Bank Limited:

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Soneri Bank Limited offers a full range of Retail Banking services. Corporate and Treasury operations, worldwide network of correspondents and a complete range of Trade Finance products make our bank a perfect place to do trade business with. While designing products for our customers, we have taken care of the needs of a variety of customers. Our Consumer Finance schemes and Islamic mode of Banking caters to another niche set of customers with a mission to develop strong banking relationships through syndicate financing and also on standalone basis. Some of their products and services are as below: - Savings Account - Term Deposits - Current Account - Basic Bank Account - Soneri Ikhtiar Current Account - Online Banking - SMS Alert - SME Finance - Agriculture Financing - Lockers - Consumer Finance - Electronic Banking - Retail, Commercial, Corporate and Trade Financing - Syndicate (organization) Financing

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MethodologyThere are many methods for measuring job satisfaction but the most common method for collecting data regarding job satisfaction is the Likert scale (named after Rensis Likert).

Types of data collectedPrimary data: The primary data was collected from the questionnaire. It had questions of both likert scale and open ended type.

Secondary data: Secondary data was collected from the internet, books, and company records.

Sampling: Before any data are collection sampling design is determined. The technique of Simple random sampling was adopted. Researchers, in this method select those units of the population in the sample, which appear suitable to him or to the management of the organization where he is conducting the research. Sample Size: 25 samples were taken from Soneri Bank Limited. Field Work The field works was done at Soneri Bank Limited, central office; 2nd floor Al-Rahim Tower, I.I. Chundrigar Road, Karachi.

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