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Scenario of Job Satisfaction among Employees of Agrani Bank
Limitedof and its Impact on Banking: A Study on Malibag
Branch
An Internship Report Presented to the Faculty of Business Studies for Partial
Fulfillment of the Requirements for the Degree of Masters of Business
Administration (MBA)
By
Md. Shawfiqul Islam
Id. No. M120202085
MBA 4th Batch
Department of Management Studies
Jagannath University
Submitted To
Prof. Dr. A. K. M. Moniruzzaman
Supervisor
Department of Management Studies
Jagannath University
Date of Submission
1 | P a g e
DEPARTMENTOF MANAGEMENT STUDIES
JAGANNATHUNIVERSITY, DHAK
April 8, 2015
LETTER OF TRANSMITTAL
April 8, 2015
Prof. Dr. A. K. M. Moniruzzaman
Supervisor
Management Studies Department
Jagannath University, Dhaka
Subject: Application for the submission of ‘Internship Report’
Dear Sir,
With due respect, I am submitting my Internship Report titled ‘Scenario of Satisfaction
among Employees of Agrani Bank Limited of and its Impact on Banking: A Study on
Malibag Branch, which was assigned to me as partial fulfillment of my internship
program. I have found the study to be quite interesting, & insightful. I have exerted my
best effort to prepare this report. I hope it will serve the purpose.
I consider myself very privileged to prepare this report under your guidance. This has
been an enormous opportunity for me to learn and gather knowledge on a particular field.
It is an effort to focus a detailed scenario of Job Satisfaction level for banking services
where primary and secondary sources have been used to collect information. I am
extremely thankful to you for your valuable guidance, tiresome effort, and, constant
attention whenever required.
Sincerely yours,
Md. Shawfiqul Islam
Id. No. M120202085
MBA 4th Batch
Department of management studies
Jagannath University, Dhaka
SUPERVISOR’S CERTIFICATION
This is to certify that the internship report on ‘Scenario of Satisfaction among Employees
of Agrani Bank Limited of and its Impact on Banking: A Study on MalibagBranch’, has
been prepared by Md. Shawfiqul Islam, bearing Id. No. M120202085, MBA 4th Batch, as
a partial fulfillment of the requirements for the Degree of Masters of Business
Administration (MBA)
The report has been prepared by him under my supervision. And I have gone through the
Report. The texts and documents he presented in this report does not breach any existing
copyright and no portion of this report is copied from work done earlier for a degree or
otherwise.
I wish him every success in future endeavors.
_____________________(Signature of the Supervisor)
Prof. Dr. A. K. M. Moniruzzaman
Supervisor
Department of Management Studies
Jagannath University
ACKNOWLEDGEMENTS
First of all, I would like to express my deepest sense of gratitude to almighty Allah that I
have completed the assigned task within specified time period.
For the fear of surrounding like a vote of thanks speech, I could not possibly thank all of
those people who have contributed something of themselves directly or indirectly in
preparing this report. Of course, some very special people cannot go without mention.
I would like to convey my highest gratitude to Prof. Dr. A. K. M. Moniruzzaman,
Department of Management Studies, Jagannath University for his supervision, personal
guidance, and great encouragement provided to me while preparing the report.
I particularly appreciate the perseverance and contributions of supervision by Md. Selim
Uddin, First Assistant General Manager, Agrani Bank Ltd. Mogbazar corporate Branch,
Dhaka. Without his constant supervision, advice and suggestion, I would have failed to
complete the whole thing in a right manner.
My heartfelt gratitude goes to Md. Abdur Rahim, Executive Officer, Agrani Bank,
Mogbazar branch for his great greatness & open conversation. I would also like to thank
those entire people who helped me by responding to my query and giving me
information. I would also like to thank all the participants I needed for my survey.
EXECUTIVE SUMMARY
In Bangladesh banking sector has seen a huge growth during the last decade. Along with
the publicly run commercial banks a large number of private banks have entered in the
industry. Banks have realized that cost of attracting new customers is higher than
retaining existing customers & emphasizing more on Job Satisfaction.
Thus, in the introduction Chapter, it has been tried to focus the background that where
Agrani Bank ltd. as a public bank is in respect of Job Satisfaction. Total 40 respondents
are asked about the level of their satisfaction.
In the second chapter a scenario has been described in the light of main topic. In the
following chapter, overviews of both the organizations along with comparative SWOT
analysis have been shown.
Through the following, the most vital, chapter of the report findings and analysis the
survey findings are presented and analyzed on the basis of the research questions of the
introductory part. The Questionnaires help in this portion.
Finally, a conclusion has been drawn about the main topic & some recommendations
have been given to improve the present state.
TABLE OF CONTENTS
Chapter Name Sl. No. Contents Page No.
Preliminary Pages
Title Page
Letter of Transmittal
Certificate of Supervisor’s Forwarding
Acknowledgement
Executive Summary
Table of Contents
List of Tables & Figure
List of Figure
Abbreviations
Main Text
Chapter One 1.0 Introduction
1.1 Background of the Study
1.2 Statement of the Research Problem
1.3 Objective of the Study
1.4 Methodology of the Study
1.5 Conceptual Framework
1.6 Literature Review
1.7 Limitations of the Study
Chapter Two 2.0 Scenario of the main topic in Bangladesh
Chapter Three 3.0 Overview of the Organizations
3.1 Historical Background Agrani Bank Ltd.
3.2 Corporate Information
3.3 Vision Statement
3.4 Mission Statement
3.5 Products & Services
3.6 Principal Activities
3.7 SWOT Analysis
Chapter Four 4.0 Findings & Analysis
Chapter Five 5.0 Conclusion & Recommendations
5.1 Conclusion 29
5.2 Recommendations 30
End Matter
References 33
Questionnaire 35
List of Abbreviations
ATM Automated Teller Machine
AL SME Loan
BB Bangladesh Bank
BAL Banking Agreement letter
BFS Business Financial Service
BIL Business Installment Loan
CIB Credit Investigation Bureau
CM Credit Management
CR Credit Risk
CRM Credit Risk Management
BDT Bangladesh Taka
FI Financial Institution
FDR Fixed Deposit Receipt
FY Fiscal Year
IT Internet Technology
ABL Agrani BankLimited
PFC Personal Financial
PDC Post Dated Check
MT Mail Transfer
RU Recovery Unit
SA Service Ambassador
TT Telegraphic Transfer
TIN Telephone Identification Number
FAD Finance and Administration Division
CHAPTER 1: INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In existing competitive business milieu, service-oriented enterprises are playing a
significant role to reform the economic structure of both the home the world as well. And
banking, right now, is one of the most competitive service-oriented industries to
restructure and, most importantly, to fuel the economy to run the reformation program.
Banking sector in Bangladesh has displayed a dramatic expansion and an immense
growth during the last one-and-half decade when along with the publicly owned
commercial banks a large number of private banks have entered in this competitive
industry and making more profit by serving at a peak level on a consistent basis.
However, this rapid expansion has also generated a lot of managerial problems. One
buzzword is the low level of employee job satisfaction that brought difficulties, especially
for public banking sector which instead of its largely based human and other resources is
lagging behind in increasing service quality. Basically, employee's job satisfaction affects
the quality of bank service, and therefore affects the degree of customer satisfaction and
organizational growth and development. Although there are many studies on employee
job satisfaction but in Bangladesh there are very limited studies on employee job
satisfaction in public banks, specifically with respect to factors affecting job
satisfaction and its impact on banking sector.
On this background, I have prepared my master paper showing the level of job
satisfaction of the bankers titled ‘Scenario of Satisfaction among Employees of Agrani
Bank Limited of and its Impact on Banking: A Study on MalibagBranch’ .An empirical
survey is conducted to accomplish the purpose and fifty bankers are chosen from different
areasof 4 nationalized banks (Agrani Bank ltd., Agrani Bank limited, Agrani Bankltd. &
Rupali Bank ltd.) as all these banks are equal in terms of its HR practices.
1.2 PROBLEM STATEMENT
Job satisfaction of employee is a very serious topic. The organizations performance is
mostly vary due to the variation in satisfaction level of employees. The study will try to
find out the following questions:
Key factors of bank employee’s satisfaction
Root causes of employee dissatisfaction
Root causes for differences in satisfaction of bank employee in private and Govt.
sector.
Ways to minimize employee dissatisfaction
1.3 OBJECTIVES
This work will help the Banker to understand what he needs to do in order to satisfy the
employee in the organization. This will also helpful to future researcher who will make
new research on banking activities and job evaluation. The main objectives of the work
are to:
Achieve deep knowledge about employee’s job satisfaction level in different
positions of bank.
Achieve deep knowledge about employee’s job dissatisfaction in performing job
in Govt. bank.
gives recommendations to the top level managers so that they can solve the
problem
Help policy makers in taking policies.
Compare and contrast the situation of employee’s job satisfaction between
government and private sector.
1.4 METHODOLOGY OF THE STUDY
Research Design: Descriptive and Analytical research design
The target population was the employees of Agrani Bank limited
Sample Size:20
Sampling Procedure: Non-probability convenience procedure to develop the sample plan
Types & Sources of Data: Both qualitative and quantitative data collected primarily from
customers &employees along with secondary sources like
a) Annual reports, history of different Organizations;
b) Related web sites, electronic books & journals;
c) Newspapers; &
d) Thesis paper & Survey results of different Researchers.
Data collection Methods:
a) Questionnaire: Both open-ended and closed ended questions (Likert Scale) are sent to
respondents to get their responses (schedules mainly).
b) Telephonic Interview: To personnel who are related to the research problem; &
c) Relevant portion of secondary sources, and primary source.
Data Processing: All the raw data are edited, coded, classified, & tabulated by using
Micro-soft Word and Microsoft Excel.
Data Analysis: After tabulation, they were analyzed through bar-diagram&pie-charts.
1.5 DEFINITIONS & TERMS
Job satisfaction
Job satisfaction is one of the most researched variables in the area of workplace
psychology and has been associated with numerous, psychosocial issues the changing
world of work, organizational factors ranging from leadership to job design.
In general, most definitions cover the affective feeling an employee has towards their job.
This could be the job in general or their attitudes towards specific aspects of it, such as:
their colleagues, pay or working conditions. In addition, the extent to which work
outcomes meet or exceed expectations may determine the level of job satisfaction.
Variables on which Employee Satisfaction Depends
Theories of job satisfaction
Job satisfaction theories have a strong overlap with theories explaining human
motivation. The most common and prominent theories in this area include: Maslow’s
needs hierarchy theory; Herzberg’s motivatorhygiene theory; The Job Characteristics
Model
Maslow’s Hierarchy of needs:Although commonly known in the human motivation
literature, Maslow’s needs hierarchy theory was one of the firsttheories to examine the
important contributors to job satisfaction. The theory suggests that human needs form a
five levelhierarchy (Figure 1) consisting of: physiological needs, safety,
belongingness/love, esteem, and self-actualization.
1. Organizational Variables
Organizationdevelopment
Policies ofcompensation & benefit
Promotion & career development
Job Satisfaction
Job security
Working environment & condition
Relationship with supervisor
Work Group
Leadership Style
Maslow’s hierarchy of needs postulates that there are essential needs that need to be met
first (such as, physiological needs and safety), before more complex needs can be met
(such as, belonging and esteem) Maslow’s needs hierarchy was developed to explain
human motivation in general. However, its main tenants are applicable to the work
setting, and have been used to explain job satisfaction. Within an organization, financial
compensation and healthcare are some of the benefits which help an employee meet their
basic physiological needs. Safety needs can manifest itself through employees feeling
physically safe in their work environment, as well as job security and/ or having suitable
company structures and policies. When this is satisfied, the employees can focus on
feeling as though they belong to the workplace. This can come in the form of positive
relationships with colleagues and supervisors in the workplace, and whether or not they
feel they are a part of their team/ organization. Once satisfied, the employee will seek to
feel as though they are valued and appreciated by their colleagues and their organization.
The final step is where the employee seeks to self-actualize;
Where they need to grow and develop in order to become everything they are capable of
becoming. Although it could be seen as separate, the progressions from one step to the
next all contribute to the process of self-actualization. Therefore, organisations looking to
improve employee job satisfaction should attempt to meet the basic needs of employees
before progressing to address higher order needs. However, more recently this approach
is becoming less popular as it fails to consider the cognitive process of the employee and,
in general, lacks empirical supporting evidence
In addition, others have found fault with the final stage of self-actualization. The lack of a
clear definition and conceptual understanding of selfactualisation, paired with a difficulty
of measuring it, makes it difficult to measure what the final goal is or when it has been
achieved.
Herzberg’s Motivatorhygiene Theory:Herzberg’s motivatorhygiene theory suggests that
job satisfaction and dissatisfaction are not two opposite ends of thesame continuum, but
instead are two separate and, at times, even unrelated concepts. ‘Motivating’ factors like
pay andbenefits, recognition and achievement need to be met in order for an employee to
be satisfied with work. On the otherhand, ‘hygiene’ factors (such as, working conditions,
company policies and structure, job security, interaction withcolleagues and quality of
management) are associated with job dissatisfaction.
Because both the hygiene and motivational factors are viewed as independent, it is
possible that employees are neither satisfied nor dissatisfied. This theory postulates that
when hygiene factors are low the employee is dissatisfied, but when these factors are high
it means the employee is not dissatisfied (or neutral), but not necessarily satisfied.
Whether or not an employee is satisfied is dependent on the motivator factors.
Moreover, it is thought that when motivators are met the employee is thought to be
satisfied. This separation may aid in accounting for the complexity of an employee’s
feelings, as they might feel both satisfied and dissatisfied at the same time; or neither
satisfied nor dissatisfied.
Whilst the Motivatorhygiene theory was crucial in first distinguishing job satisfaction
from dissatisfaction, the theory itself has received little empirical support. Herzberg’s
original study has been criticized for having been conducted with a weak methodology.
As a result, subsequent attempts to test this theory have obtained mixed results with some
researchers supporting it and others not
Job Characteristics Model:The Job Characteristics Model (JCM)explains that job
satisfaction occurs when the work environment encouragesintrinsically motivating
characteristics. Five key job characteristics: skill variety, task identity, task
significance,autonomy and feedback, influence three psychological states. Subsequently,
the three psychosocial states thenlead to a number of potential outcomes, including: job
satisfaction. Therefore from an organizations’ point of view, it isthought that by
improving the five core job dimensions this will subsequently lead to a better work
environment andincreased job satisfaction.
Unlike the Maslow or Herzberg’s theories, the JCM has received more empirical support.
However, it has also drawn criticism as many studies utilizing this model investigate the
direct impact core job dimensions have on personal and work outcomes, completely
disregarding the critical psychological states. Despite this, the JCM and its impact on job
satisfaction has been the subject of three reviews, which further lend support to the
model.
Further to this, Behson and colleagues’ met analysis of 13studies specifically focused on
the role of critical psychological states, and found these psychological states to play a
crucial practical and theoretical role within the JCM.
1.6 LITERATURE REVIEW
Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of one’s job;an affective reaction to one’s job;and an attitude towards one’s
job.Weiss (2002) has argued that job satisfaction is an attitude but points out that
researchers should clearly distinguish the objects of cognitive evaluation which are affect
(emotion), beliefs and behaviors.
Job satisfaction is a set of favorable environment that affects both administrative and
emotional feelings with which employees consider friendly/congenial for their work.
Locke (1976) has defined job satisfaction as the pleasurable emotional state resulting
from the appraisal of one’s job or job experiences. High productivity and job satisfaction
are closely related. A set of highly satisfied employees can guide an organization to
the peak of its success. Rust et al. (1996) suggested that intention to remain employed
in an organization is strongly influenced by the level of employee satisfaction and that
overall employee satisfaction is driven by satisfaction by managerial processes
related to employee welfare.
In the recent years banking sector has been able to attract young talents who have chosen
banking profession as their preferred career. The nature of work is changing at whirlwind
speed, and the factors that keep an employee satisfied with his or her job is also
changing. Contemporary banking business considers the job of satisfying their
employees most important for retaining their valuable skilled workforce (Islam and
Hasan, 2005).
Rousseau (1995) and Ryness (1993) found that potential employees make their decisions
based on their perception of their values that the organization will place on them. The first
few months with a company are critically important. The introduction that new
employees receive makes a lasting impact on their perception of the organizational
management team. Similarly the first few days on the job can affect the individual
tendency to leave or stay (Graham and McKenzie, 1995). Employees’ desires are
perceived as being satisfied when the organization meets or exceeds their expectations
(Hackman and Oldham, 1976; Hannay and Northam, 2000; Locke, 1976; Rust et al.,
1996).
Employees who can relate to the organization’s product or services can more easily relate
to the organizational culture and make the necessary adjustment to become an active
member of that culture (Coleman and Kleiner, 1999). These studies tend to support the
paradigm that viewing the employee as a customer is much more important than is
generally perceived by management. This viewpoint is also important to an effective
house training program. The employees confess that employee satisfaction will improve if
the types of training program they require are developed for themselves and thus their
needs be better met.
Nocera and Kolb (1998) examine the effect of relationship between supervisor and
their subordinates on their considerations and job satisfaction. Their findings
suggested that supervisor-subordinate relationships are sociologically significant and
may help to reduce turnover. Increasing employee satisfaction may reduce employee
turnover within an organization. Information Week survey reported that the challenges of
the job and the responsibility associated with it tend to matter more than the salary
(Hannay and Northam, 2000; Mateyaschuk, 1999).
Work environment appears to be one of the best predators of job satisfaction (Rust et al.,
1996). According to Benders and Van De Looj (1994) there is no direct relation between
job satisfaction and salary. Their research suggested that younger employees have a
greater tendency to quit their jobs than older employees and demonstrate a greater
tendency to be willing to work overtime. Younger employees also tend to be less satisfied
with their salary.
Vermon (1931) found that the need satisfaction studies emphasized that if the job failed to
gratify employee’s needs of various categories, need-deprivation would tend to cause
absenteeism. Fair salary, pleasant working conditions, good team-work, participation,
feeling of belongingness, opportunity for conversation, and ego-involvement were
observed as factors that affect the level of job satisfaction.
The different studies found different aspects as determinants of job satisfaction. Majority
of the studies revealed that level of job satisfaction highly depends on handsome
salary, congenial promotional policy, supportive working environment etc. In
addition to these, organizational culture, relation with colleagues and superior,
participation in decision making etc also have influence on the level of job
satisfaction. But this study investigates some new aspects such as nature of work,
attitudes of supervisors, communication system etc which also have an impact on the
level of job satisfaction.
1.7 LIMITATION OF THE STUDY
The major limitation that might face while conducting this research is the knowledge
constraints about the subject matter. There might be several other limitations that might
need to take care of like
For this research paper, the first & foremost limitation is data accuracy. It is matter of
fact that 100% accurate cannot be provided as the sample size is too small. The
second biggest limitation is the shortage of time for preparing this report.
Another limitation I will face is about the size of the sample group. For this research
report purpose, I should conduct to survey at least 100 people. But for 100 surveys
need at least more than 6 weeks, which is more than the limit for data collection, I
will not be able to conduct more than 20 surveys.
Another factor is, there are many potential employees outside Dhaka, mainly in. Due
to time constraints, those customers were not covered.
CHAPTER 2: JOB SATISFACTION SCENARIO IN BANGLADESH
In modern competitive business, service-oriented companies such as commercial banks
play a significant role to shape the economic structure of world economy. These
companies aim at achieving their long term goals connected to the company strategy
through various issues. Now-a-days to attain the specific goal companies strive to build a
sustainable and profitable relationship with their employees though employee satisfaction
because employees are the actual performer of company’s work process.
To ensure the continuity of the growth and development of an organization, the particular
management should pay concentration to the employees’ job satisfaction. The banks are
not exceptional. In Bangladesh all the bank both public and private banks are
continuously try to satisfy their employees in order to ensure their goals achievement.
As in Bangladesh there are two types of banks are available, their facilities towards
employees are also different. And for that the satisfaction of employee are also vary, their
position also vary. Private bank with more satisfying workers has already held a good
position in the banking system. On the contrary, public bank with fewer rewarding
employees has been unable to hold a lucrative position in the banking sector. This
discrepancy between the performances of the two banking sector is because improving
quality and productivity that Private bank has been able to maintain through job
satisfaction of its employees.
CHAPTER 3: OVERVIEW OF AGRANI BANK LIMITED
3.1 HISTORICAL BACKGROUND OF AGRANI BANK LIMITED
Agrani Bank Limited (ABL) was incorporated as a SOC Bank on 17 May 2007 under the
Companies Act 1994. Agrani Bank emerged as a Nationalized Commercial Bank
following the Bangladesh Banks (Nationalization) Order 1972 vides President’s Order
No. 26 of 1972. On a going concern basis ABL took over the business, assets, liabilities,
rights and obligations of Agrani Bank through a vendor’s agreement signed on 15
November 2007 between the Ministry of Finance of the People’s Republic of Bangladesh
& the Board of Directors of ABL with retrospective effect from 1 July 2007.
3.2 CORPORATE PROFILE
Table 05: Corporate Profile of Agrani Bank Limited
Company Name Agrani Bank Limited
Legal Status Public Limited Company
Shareholder Pattern 100 % share owned by Government of the People’s Republic of Bangladesh
Chairman Chairman Khondoker Bazlul Hoque, PhD
MD & CEO Managing Director & CEO Syed Abdul Hamid, PhD, FCA
Company Secretary Company Secretary Badal Chandra Dey
Registered Office Registered Office 9/D Dilkusha, Dhaka 1000, Bangladesh
Authorized Capital Tk. 2, 500.00 Crore Total Deposits Tk. 34,867.52 Crore
Paid up Capital Tk. 2, 072.29 Crore Loans & Advances Tk. 20,296.54 Crore
Operating Profit Tk. 1, 063.93 Crore Total Equity Tk. 3,564 Crore
Tax Identification No. 0022001223 Vat Registration No.19011031730
Credit Rating 2012 by CRISL (Rating Date: 7 October 2013) – Stable outlook
Entity Rating (as guaranteed by Govt. bank) AAALong term ST-1 Short term
Surveillance Rating BBB Long term ST-3 Short term
Phone +88-02-9566153-4, +88-02-9566160-9, +88-02-9566074-5
Fax +88-02-9562346, +88-02-9563662, +88-02-9563658
Swift Code AGBKBDDH
E-mail [email protected], [email protected]; [email protected]
Website www.agranibank.org
(Source: Annual Report 2013, ABL.)3.3 ORGANIZATION STRUCTURE
Figure 01: Organogram of Agrani Bank Limited
(Source: Annual Report 2013, ABL.)
3.4 NUMBER OF BRANCHES
Table 06: Number of Branches
Domestic & International Networks & Brunches
Circles Offices 11 Zonal Offices 62
Corporate Branches 27 General Branches 922
Authorized Dealer Branches 40 Online Branches 309
Q-Cash & ATM Location 5 Correspondents 335
Exchange Houses 63 Nostro A/C 38
Bangladesh Overseas
Board of DirectorsChairman & Directors
Managing Director (MD) & Chief Executive Officer(CEO)
Deputy Managing Director (DGMs)
Assistant General Managers (AGMs)
Senior Principal Officers (SPOs)
Principal Officers (POs)
Senior Officers (SOs)
Officers/Officers (Cash)
Attorny Assistants
Clerical Staff Members
Non Clerical Staff Members
Su
bsi
dia
ries
Agrani SME Financing Company Ltd., BD
Agrani Equity & Investment Limited, BD
Agrani Exchange House Private Ltd. , Singapore
Agrani Remittance House SDN, BHD, Malaysia Agrani Exchange Co. ( Australia) Pty. Limited
Agrani Remittance House Canada, Inc.
(Source: Annual Report 2013, ABL.; Website www.agranibank.org)
3.5 NUMBER OF EMPLOYEES
Table 07: Detailed List of Number of Employees
Position Name (Officers) Number Position Name (Staff) Number
Managing Director & CEO 01 Sub-assistant Engineer 02
Deputy managing Director 04 Clerical 1, 085
General Manager 16 Non Clerical 2, 460
Deputy General Manager 103 Total Staff 3, 547
Chief Medical Officer 01
Assistant General Manager 286
Senior Principal Officer 854
Principal Officer 774
Executive Engineer 03
Senior Officer/Equivalent 3, 468
Assistant Engineer 03
Officer/Equivalent 4, 945
Total officers 10, 458
Total (Officers: 10, 458 & Staff: 3, 547) = 14, 005
(Existing Employees as on December 31, 2013, Source: Annual Report 2013, ABL.)
3.6 VISION STATEMENT
To become the best leading state owned commercial bank of Bangladesh operating at
international level of efficiency, quality, sound management, excellent customer service
and strong liquidity.
3.7 MISSION STATEMENT
To operate ethically and fairly within the stringent framework set by our regulators
and to assimilate ideas and lessons from best practices to improve our business policies
and procedures to the benefit of our customers and employees.
3.8 PRODUCTS & SERVICES
1. Deposit
a) Taka Account
Current Deposit (CD)
Savings Deposit (SB)
Fixed Deposit (FDR)
Special Notice Time Deposit (SNTD)
Non-Resident Special Taka Account
(NRSTA)
Non-Resident Investors Taka Account
(NRITA)
Agrani Bank Pension Scheme (APS)
Agrani Double Benefit Scheme (ADBS)
Monthly Deposit Scheme (MDS)
Monthly Income Scheme (MIS)
Students Savings A/C (School Banking)
Farmers A/C
Freedom Fighters A/C
b) Foreign Currency Account
Foreign Currency (FC) A/C
Non-Resident Foreign Currency
Deposit (NFCD) A/C
Resident Foreign Currency Deposit
(RFCD) A/C
Exporters Retention Quota (ERQ) A/C
2. Loans & Advances
a) Continuous Loan
Cash Credit (Hypo)
Cash Credit (Pledge)
Secured Overdraft (SOD
b) Term Loan
Inland Bill Purchase (IBP)
Export Cash Credit
Industrial Credit (IC)
Housing Loan (General & Commercial)
Consumer Credit
Loan for Overseas Employment
Weavers’ Credit
c) Rural & Agro Credit
Crop Loan
Fishery Loan
Animal Husbandry Loan
AgriMachinary Loan
Rural Transport Loan
Swanirvar Loan
Poverty Alleviation Loan
d) Small and Medium Enterprise Loan
Service Sector Loan
Trading Sector Loan
Manufacturing Sector Loan
e) Import Finance
Loan Against Imported Merchandise
(LIM)
Loan Against Trust Receipt (LTR)
Payment Against Document (PAD)
f) Export Finance
Export Cash Credit
Packing Credit (PC)
Local / Foreign Bills Purchased (FBP)
Loan Against Export Development
Fund (EDF)
Advance Against Cash Incentive
3. Treasury
a) Money Market
Maintaining CRR and SLR
Call Money Transaction
Term Placement (FDR)
Treasury Bills
Treasury Bonds
Secondary Trading of Govt. Securities
Repo & Reverse Repo
Custodian Services
Other Investments
b) Foreign Exchange Market
Selling Foreign Currency for Import
Payment
Buying Foreign Currency against
Export Proceeds
Fixation of Exchange Rate
Foreign Currency Buying and Selling
SWAP Transactions
Forward Transaction
Term Placement
4. Letter of Credit
Letter of Credit - Sight
Letter of Credit - Usance
Back to Back L/C
5. Letter of Guarantee
Advance Payment Guarantee
Bid Bond
Performance Guarantee
Shipping Guarantee
Guarantee - Others
Standby Credit
6. Other Foreign Exchange Service
Documentary Bill Collection
Advanced Payment for Import & Export
Foreign Remittance (In & out)
Issuance of Draft, TT
Collection of Draft, Cheque, TC
Opening of Student File, Medical File
7. Cash Service
ATM Service
Cheque Encashment
Foreign Currency
(Source: Annual Report 2013, ABL.)
8. Fund Transfer
Inter-Branch Money Transfer
SWIFT
Telegraphic Transfer (TT)
Issuing Foreign Draft
Encashing Foreign Draft
Bangladesh Electronic Fund Transfer
Network (BEFTN)
Bangladesh Automated Clearing
House (BACH)
Online Deposit to Accounts
9. Value Added Service
Locker Service
Utility Bill Collection
10.Merchant Banking Service
Issue Management
Underwriting
Portfolio Management
11.Islamic Banking Service
a) Deposit
Al Wadiah Current A/C
Mudaraba Savings A/C
Mudaraba STD A/C
Mudaraba Term Deposit
Mudaraba Special Scheme Deposit
b) Investment
3.9 PRINCIPAL ACTIVITIES
Although earned from variety of operations, the difference between interest earned from
lending and interest given for borrowing makes the major portion of bank’s income.
Generally, branches include three operational divisions to earn such interest and these are:
General Banking;
Loan and Advance; &
Foreign Exchange.
The principal activities of its subsidiaries are to
Carry on the Remittance Functions: To carry out remittance and to undertake and
participate in any or all transactions and operations commonly carried or undertaken
by remittance and exchange houses established in Singapore and Malaysia;
Move in Microcredit Activities: To vibrant the Micro credit activities over the
country, the Bank has established a subsidiary company named Agrani SME
Financing Company Limited as per Government decision;
Begin Monetary Operations: It has start the operation as a nonbanking financial
institution as permission of Bangladesh Bank; &
Develop Country Capital Market: For developing the capital market of the country,
the Bank has also open another subsidiary company named Agrani Equity and
Investment Limited for providing necessary support to the Investors which has been
incorporated as a Public Limited Company.
In addition to above three basic activities Agrani Bank Limited has been started some
banking services which are related to socio-economic aspects, and the growth and
development of our country. Agrani bank limited, to conduct the operations with ease and
to better serve its customers whether corporate or in general, has diversified its services
under significant headings like:
Corporate banking;
Merchant banking;
SME banking;
Export-Import banking;
NRB banking;
Islami banking etc.
XXIV | P a g e
Figure: Principal Activities of Agrani Bank Limited
Principal ActivitiesCorporate BankingInvestment BankingLoan Syndication
Project Financing
Commercial BankingCurrent & Fixed A/C
Personal BankingAccount , Deposit,
& Card Services Saving Deposits, FDR, Farmers Account
Marchent BankingIssue Management
Underwriting
Portfolio Management
Islami Banking
SME BankingSME FinancingServices to Women Entrepreneurs
Nari Agrani
Environmental Friendly Banking
Foreign Aided Credit ProgramsNGO Linkage
Program
Cluster Based SME Financing
SME ProgramsEmployment Generation Project for the Rural Poor
Marginal and Small Farm System Crop Intensification Project
Solar Energy, Bio-gas and Effluent Treatment Plant Credit Scheme
SME Small Transport Credit Program
Daridra Bimochon Karmasuchi
Agri & Rural BankingRral Agro Credit Services
Farmers A/C Services
NRB BankingResident Foreign Currency Deposit
Wage Earner's Development Bond
Resident Special Taka A/C
Export-Import FinancingImport Financing
Payment Against Documents
Loan Against Export Development Fund
Loan Against Imported Marchendise
Export FinancingExport Cash Credit
Reshipment Credit
3.10 SWOT ANALYSIS OF AGRANI BANK LIMITED
3.10.1 Strengths, Weaknesses, Opportunities, & Threats of Agrani Bank
Limited
Table 09: List of SWOTs of ABL
STRENGTHS WEAKNESSES
Strong corporate identity;
A large number of branches within the reach
of customers all over the country;
Govt. support;
Huge capital & reserve;
Multiple products & services;
Low cost products and services;
Vast customer base & greater reliance;
A large employee base with least chance of
turnover;
Strong connectivity with exchange houses
and correspondents; &
International connectivity, membership with
SWIFT, ensuring security;
Lack of skilled manpower due to Lack of
proper motivation, training and job
rotation ;
Backdated T&D Program;
Absence of teamwork
Absence of effective promotional
initiatives;
Habituated to paper and pencil work,
outdated software and hardware instead of
using modern ICTs;
Only 5 ATMs in Dhaka;
Frequent rate devaluation and foreign
exchange rate fluctuation;
Lack of good working environment
flexibility to adopt to any change;
Weak Regulatory performance creates
problems to recover loan;
Existence bureaucracy;
Rigid structure & centralized activity;
OPPORTUNITIES THREATS
Opportunity to recruit and select qualified and
efficient human resources;
Possibility to access quickly with online
services all over the country;
Including up-to-date T&D programs;
Increasing Customer service;
Utilizing infrastructure & other resources
diversely all over the country;
More ATM access & improved technologies;
Increase market share through growth of
loanportfolio;
Launching innovative products and services
with least charge and achieve a competitive
edge;
Branch in remote location;
Broaden the sector of investment;
Illicit competition among various
commercial banks;
Competition with establishes commercial
private banks and newly formed banks;
Introduction of diversified and
personalized services of other banks;
New entrants;
Other commercial banks with qualified
human resources;
Privatization move;
Economic recession and absence of govt.
facility; &
Evolution of large scale e-banking;
Changing rules and regulations of gvt.
3.10.2 CONCLUSION REGARDING SWOTS
Reviewing SWOTs of it could be concluded that the ABL is in strong position
exceptionally in terms of a huge line of low cost products & services, number of
branches, volume of capital, number of clients, govt. facilitated rules, regulation,
infrastructural environment, & moderate international connectivity although it is in weak
position alarmingly in terms of Human Resources (HR) with quality training and
developmental programs, modern technologies, regulatory procedure, ATM facility,
skilled & well-structured pay scale, promotion, & increment facilities to satisfy its
employees.
3.10.3 AGRANI BANK’S ACTION PLAN
Agrani Bank Limited may use its strengths like branches & customers to introduce
specialized, techno based modern & secured services at shortest possible time and cheap
price. That is whenever they will come in bank or they receive services they will feel
happy. On the other hand, employees’ may be given better working place, well salary, job
security, with minimized workload, advancement opportunities, new technologies and
interesting projects.
CHAPTER 4: PRACTICAL EXPERIENCE GATHERED THROUGH INTERNSHIP
Time management
Time management is the great virtue for each & every person. As a University student, I
spent only 4 to 5 hours in the university campus with gossiping, taking tea & snacks. But
in the professional life like bank, each & every employee reach in the office not more
than 9.30 am and go out from office not less than 6.30 pm due to heavy working pressure.
So, I also maintained my office time. They do their task in daily basis. I also helped them
to make their task easier.
Formal dress code
In the 3 months internship period I maintained the dress code regularly and I’m
habituated with this now.
Teamwork
Theoretically I read what is team and teamwork but practically I did not have experience
about it. In the professional life there’s exist team like Bangladesh cricket team. Each &
every team member has some responsibilities and target to fill up. I observed it very
closely and helped them to make their task easier.
Other potential benefits
The potential benefit of internship is that a student can get an opportunity to have
experience of corporate world which they are going to face in near future. So here I
would say I have earned some experience of corporate world.
Description/Nature of the Job learned
Throughout the tenure of my internship, I was involved in General Bankingsection,
Investment sectionand Clearing section. During this period, my specific responsibilities
were asfollows.
GB (General Banking) Department:
At first, I was assigned to GB (General Banking). It was very arduous, but very fruitful.
I had a wide variety of responsibilities at GB:
InvestmentLong term
Short Term
Bringing out the cheque books for the customers, verifying them, receiving them
from the courier.
Writing and later on printing pay orders
Sometimes I did the FD (Fixed Deposits) and DPS (Deposit Pension Scheme), but
it was under strict supervision.
Counting the voucher of GB
Finding the FD, DPS and old account opening forms
Opening account for new customers and aiding them in the process
Opening FD and DPS for new customers
Putting 5 different types of seals for clearing
Preparing the bill for the branch’s expenditure for that day
Making solvency certificates
Typing other documents given by my in charge
Keeping things in order and at arm’s length
The work was difficult at GB. I also had to hear many complaints from the customers.
At first, I was demoralized. Nevertheless, later on I learned how to deal with it.
Investment Department
At the time of internship, clients came to the department who wants to take loan for their business purpose.
Figure 1: Types of Investment
I was in the Investment Department for 2 weeks. Although much work was not assigned
to me, I did assist this department in every way possible.
• I had to rearrange all the customer files
• Help when the audit came
• Printing, typing and photocopying documents
Clearing Section
Clearing Section is very important section in General banking division. Almost every
section of different has been linked with this section there are many types of work I did in
this section like-
I learnt how to receive a clearing Cheque from the clients
How to record the Cheque in the OBC book and giving the OBC number
I suffix crossing seal, OBC and authorized seal.
Making the list of OBC Cheques in MS Excel sheet and then I posted the Cheques at local office for collection
CHAPTER 5: FINDINGS & ANALYSIS
After collecting responses from respondents I have found a scenario regarding customer
(internal &external) satisfaction. At the end of this chapter major findings are analyzed
based on following criterion:
Criterion for Employee job Satisfaction
Contentment with the present salary
Job security benefits
Promotion opportunity in the organization
Relationship with coworkers
Condition of working environment
Degree of supervision over the employee
Future pecuniary benefits
Interesting projects
Vacation opportunity
Satisfaction with the nature of employee’s current job.
Contentment with the present salary.
For measuring job satisfaction under these criteria I went to both banks and surveyed
employees’ job satisfaction by using a questionnaire that is given in the appendix. For the
sake of simplicity in measuring employees’ satisfaction I put a numerical value on each
option. These are shown below.
Table: Score for Satisfaction Level (assumed)
Options Value (Score)
Highly satisfied 10
Satisfied 8
Moderately satisfied 6
Dissatisfied 4
Highly Dissatisfied 2
And by using this procedure I have found following satisfaction scores from the employees of both banks.These scores of satisfaction level are presented in graph and compared them with each other.
Table: Satisfaction with the nature of work
States No. of employees Percentage of Satisfaction
Highly Satisfied - 0.0
Satisfied 2 0.10
Moderate 8 0.40
Dissatisfied 7 0.35
Highly Dissatisfied
30.15
Figure: Satisfaction with the nature of work
Satisfied10%
Moderate40%Dissatisfied
35%
Highly Dissatis-
fied15%
Employee’s job satisfaction depends on work nature. If the work done by an employee is preferable or interesting to him/her, he/she feels enjoy and gets satisfaction from the work. Here we see that most of the employees in the Agrani Bankltd. are not highly satisfied with the nature of their work that indicates their work nature is not very much interesting to them and do not feel enjoy to do jobs.
Table: Satisfaction with the level of supervision
States No. of employees Percentage of Satisfaction
Highly Satisfied 3 0.15
Satisfied 4 0.20
Moderate 10 0.50
Dissatisfied 2 0.10
Highly Dissatisfied
10.05
Figure : Satisfaction with the level of supervision
Highly Satisfied 15%
Satisfied20%
Moderate 50%
Dissatisfied10%
HighlyDissatisfied5%
Nobody likes the supervision of the boss over him/her, it’s natural. The employees of Agrani Bankltd. are not different from it, most of the employees dislike the supervision of the boss over them but to run business/organization successfully supervision is needed. As organization’s success is their success they are not highly dissatisfied they are moderately satisfied.
Table Satisfaction with the present salary
States No. of employees Percentage of Satisfaction
Highly Satisfied 0 -
Satisfied 4 0.15
Moderate 10 0.35
Dissatisfied 2 0.35
Highly Dissatisfied
10.15
Figure 03: Satisfaction with the present salary
Satisfied15%
Moderate 35%
Dissatisfied35%
High-ly-
Dis-satis-fied15%
Salary is a highly effective factor of job satisfaction. High salary turns an employee to High job satisfaction and lower salary turns an employee to lower job satisfaction. In this bank employees’ salary is lower than that of other private bank as a result here employees’ job satisfaction is lower.
Table: Satisfaction with promotional opportunities
States No. of employees Percentage of Satisfaction
Highly Satisfied 2 0.10
Satisfied 6 0.30
Moderate 8 0.40
Dissatisfied 3 0.15
Highly Dissatisfied
10.05
Figure: Satisfaction with promotion opportunities
Highly Satisfied 10%
Satisfied30%
Moderate 40%
Dissatisfied15%
HighlyDissatisfied5%
Promotion is also a highly effective factor of job satisfaction. Promotion opportunity encourages employees to work at their best effort. The employees of Agrani Bankltd. are not satisfied to their Promotion opportunities.
Table: Happiness with the Relationship with Coworkers
States No. of employees Percentage of Satisfaction
Highly Satisfied 0 0.30
Satisfied 4 0.35
Moderate 10 0.15
Dissatisfied 2 0.15
Highly Dissatisfied
10.05
Satisfied35%
Moderate 15%
Dissatisfied5%
High-ly-
Dis-satis-fied15%
Figure: Happiness with the Relationship with Coworkers
In the following graph, horizontal axis bears employees name and vertical axis measure the level of satisfaction with the relationship with coworkers. This graph shows that averagely employees are satisfied. So there coworker’s relationship is much satisfactory.
Table 08: Satisfaction of the Employee with the Vacation Opportunity
States No. of employees Percentage of Satisfaction
Highly Satisfied 3 0.15
Satisfied 4 0.20
Moderate 10 0.50
Dissatisfied 2 0.10
Highly Dissatisfied
10.05
Highly Satisfied 15%
Satisfied20%
Moderate 50%
Dissatisfied10%
HighlyDissatisfied5%
Figure: Satisfaction of the Employee with the Vacation Opportunity
In the graph, horizontal axis bears employees name and vertical axis measure the level of satisfaction of the employee with the vacation opportunity. The vacation opportunity of Agrani Bankltd. Ltd is not satisfactory at all. Because graph shows some employees are fully dissatisfied and some are little satisfied
Table 09: Pleasure with the Condition of Working Environment
States No. of employees Percentage of Satisfaction
Highly Satisfied 0 -
Satisfied 4 0.15
Moderate 10 0.35
Dissatisfied 2 0.35
Highly Dissatisfied
10.15
In the following graph, horizontal axis bears employees name and vertical axis measure the level of satisfaction of the employee with the condition of working environment.
Satisfied15%
Moderate 35%
Dissatisfied35%
High-ly-
Dis-satis-fied15%
Figure:Pleasure with the Condition of Working Environment
The condition of working environment of Agrani Bankltd. Ltd is not satisfactory at all. The graph reveals that some employee’s satisfactory level is negative when some have little positive satisfaction level.
Table: Satisfaction with Other Future financial Benefits
States No. of employees Percentage of Satisfaction
Highly Satisfied 2 0.10
Satisfied 6 0.30
Moderate 8 0.40
Dissatisfied 3 0.15
Highly Dissatisfied
10.05
Figure: Satisfaction with Other Future financial Benefits
Highly Satisfied 10%
Satisfied30%
Moderate 40%
Dissatisfied15%
HighlyDissatisfied5%
Figure: Satisfaction with Other Future financial Benefits
This graph shows that employees are averagely satisfied with their future financial benefits.
CHAPTER 5: RECOMMENDATIONS & CONCLUSIONS
5.1 CONCLUSION
As employee satisfaction is a key point to acquire the strategic goal of organization, the
management should be more serious to ensure some tactics that can be effective for
gratifying the workers. In recent times, the successful managers deal with their workers
using different tools and techniques to satisfy their needs. In this section, some well-
designed tools and tactics are recommended to the management of Agrani Bank ltd.
5.2 RECOMMENDATIONS
High pay
Managers should be aware of paying employees not poorly rather than highly. High pay
or salary is an instrument to attract high quality employees to the organization.
Focus on the intrinsic parts of the job
Besides offering a handsome salary the managers can focus on the intrinsic parts of the
job. They should emphasize on making the work challenging and interesting for the
workers.
Reduction of cognitive dissonance
Managers should also aware that employees will try to reduce any incompatibility
between two or more attitudes or between behavior and attitudes.
Ensuring work safety
Every worker needs safety in the workplace. So, managers should be concentrated to
ensure the work that is both physically and mentally safe for the workers.
Maintaining a friendly work environment
Now-a-days high quality employees prefer the work that possesses a sociable and
gracious environment in the workplace. For this, the management should focus on
observing the work situation whether it maintains friendly or not.
Advancement opportunities
Advancement opportunities give the employees chance to borrow from the organization
before receiving the basic pay to meet up the sudden and unexpected financial needs.
Such a provision of financial support to the employees makes them satisfied about their
job.
Regular Supervision
Managers should supervise the work of the employees at the right time. By this, a
relationship is established between managers and workers that can be effective to the job
performance.
Provision of training
Training can be influential to improve the work efficiency and effectiveness of the
workers. Again, trained workers are highly paid for their performance. And this may be a
tool to the job satisfaction level.
Work Independence
Managers should ensure that the workers are independent in their fields of work.
Actually, when employees tend to feel independent in case of working and thinking, they
become more satisfied with their jobs. But employees should remind it that independence
should be in favor of the organizational outcomes.
Special Remuneration
Managers should provide special pecuniary benefits to the employees giving priority to
their performance. Such remuneration will inspire the workers to extend their best effort
to the organization as they are satisfied with the job.
Promotion
Promotion facility is a determinant of the job satisfaction level. So, management should
pay attention to the promotion facility of the employees according to their work
performance. Promotion enhances the workers’ chance to be highly satisfied and
committed to their job. Actually, promotion is the most effective technique to satisfy the
workers.
Emphasis on work group and work team
Managers can assign the scheduled work forming groups and teams. Burden of work can
be minimized to a great extent when a group of individuals work collectively and
collaboratively. In fact, group and team members are more satisfied with their jobs.
Participation of the workers in decision-making
To increase the satisfaction level of workers with their job, managers can ensure the
participation of them in decision making process. Through this process the latent qualities
of the workers can be utilized for the betterment of organization.
Incentives to remove workers’ conflict
Conflicts between the workers are the reasons of job dissatisfaction. So, the managers
should take necessary steps to remove conflicts.
Value of employees’ personality
Managers should allocate the work activities among the employees giving value to their
personality. Job satisfaction can also be attained providing opportunity to the workers to
exercise their personality.
Value of emotions and moods
Managers should also value the emotions and moods of the employees to achieve their
satisfaction with the jobs.
Frequent Negotiation
Service businesses should negotiate with their employees regularly to make the job
satisfaction level higher.
References
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33-44
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Questionnaire
Dear respondent,
As a partial fulfillment of MBA, program, from Jagannath University I am conducting a research onJob Satisfaction of commercial bank of Bangladesh, A comparative Study between Govt. bank and Private Bank. For that I need some information from you. The information gathered will be used for academic purpose only. All the personal information will be kept confidential.
Part 1: Personal information
1. Employee name:
2. Age: a)21-30 b)31-40 c)41-50 d)51-60
3. Post:
4. Gender: a) male b) female
Part 2: Questions from job satisfaction view point:
1) How satisfied are you with the nature of your work?
a. Highly satisfied b. satisfied c. Moderate
d. Dissatisfied e. Highly Dissatisfied
2) How satisfied are you with the level of supervision over you?
a. Highly satisfied b. satisfied c. Moderate
d. Dissatisfied e. Highly Dissatisfied
3) How satisfied are you with the present salary?
a. Highly satisfied b. satisfied c. Moderate
d. Dissatisfied e. Highly Dissatisfied
4) How satisfied are you with promotion opportunities?
a. Highly satisfied b. satisfied c. Moderately satisfied
d. Dissatisfied e. Highly Dissatisfied
5) Happiness with the Relationship with Co-worker
a. Highly satisfied b. satisfied c. Moderately satisfied
d. Dissatisfied e. Highly Dissatisfied
6) Satisfaction of the Employee with the Vacation Opportunity
a. Highly satisfied b. satisfied c. Moderately satisfied
d. Dissatisfied e. Highly Dissatisfied
7) Pleasure with the Condition of Working Environment
a. Highly satisfied b. satisfied c. Moderately satisfied
d. Dissatisfied e. Highly Dissatisfied
8) Satisfaction with Other Future Pecuniary Benefits
a. Highly satisfied b. satisfied c. Moderate
d. Dissatisfied e. Highly Dissatisfied
9) Give a list of additional facilities that you may want from the bank:
10) Are you happy with the system of job evaluation?
a. yes b. no
11) Arrange the following factors according to the merit (give most important factor 5 and then arrange sequentially)
Key factors Ranks
Fear of losing job
Fear of demotion
Illegal challenge from the co- employees
Fear of transfer from current location
Fear of unfair promotion
12) Arrange the facilities according to necessity (arrange sequentially from5 to 1)
Facilities Ranks
Transportation facilities`
Training facilities
Loan facilities
Technological facilities
Accommodation facility