Job Satisfaction of the Employees of the General Insurance Companies in Bangladesh
DOI:
https://doi.org/10.18034/gdeb.v5i1.124Keywords:
Job Satisfaction, Public sector, Private sector, Employees, Influencing factor, General Insurance CompaniesAbstract
This study investigates the employees’ job satisfaction of general insurance companies in Bangladesh. A questionnaire was utilized to collect primary data from both public and private general insurance companies. The first part of the questionnaire comprises of the demographic profile of the respondents and the last part indicates the key measuring variables on a Likert scale ranging from 5 (strongly agree) to 1 (strongly disagree) of job satisfaction. The total number of respondents for this study was 385. 74.80 percent of the total respondents have taken from the private general insurance companies, and the remaining percentage from the public general insurance company. 70 percent of the total respondents were male respondents, and 30 percent of the total respondents were female respondents. Factor analysis and correlation matrix have been conducted to analyze the collected data. This study postulates that employees of general insurance companies have positive as well as negative feelings. Three factors reflect positive feelings toward their jobs. These factors are pay and promotional potential, the well-organized chain of command and general working condition. On the other hand, two factors are responsible for negative feelings. These factors are poor team spirit and poor job security. This paper also advocates some recommendations to maximize the positive feelings and to minimize the negative. The proper higher authority should ensure participating decision method to take any decision, the fair delegation, and direct relationship with sub-ordinates to enhance the team spirit for minimizing the dissatisfaction of the employees and should ensure the job security of the employees to get their best effort to achieve the organizational goal.
Metrics
Downloads
References
Ahmed K. F and Das P.C. (2013), Job satisfaction of the employees of commercial bank of Bangladesh, ICMEA, Voll-XLII, No. 2, March-April 2014, pp. 31-39.
Brown, G., et al., (2008), The impact of supervisory adaptive selling and supervisory feedback on salesperson performance," Index Marketing Management, pp: 447-454. DOI: https://doi.org/10.1016/j.indmarman.2007.04.002
Chen, S.H., Yang, C.C., Shiau, J.Y., and Wang, H.H. (2006), “the development of an employee satisfaction model for higher education”, The TQM Magazine, Vol. 18, No. 5, pp. 484-500. DOI: https://doi.org/10.1108/09544780610685467
Cherrington D.J. (1994), Organizational Behavior (2nd ed.)[M]. Boston: Allyn and Bacon, Inc.
Cranny, C.J., Smith, P.C., and Stone, E.F. (1992), Job satisfaction: How people feel about their jobs and how it affects their performance, Lexington Books, New York.
Dunlap, B.J., Dotson, M.J., & Chambers, T.M. (1988), Perceptions of real-estate brokers and buyers: A sales-orientation, customer-orientation approach. Journal of Business Research, 17(2), 175–187. DOI: https://doi.org/10.1016/0148-2963(88)90050-1
Greasley, K., Bryman, A., Dainty, A., Price, A., Soetanto, R., and King, N. (2005), “Employee perceptions of empowerment”, Employee Relations, Vol. 27, No. 4, pp. 354-368. DOI: https://doi.org/10.1108/01425450510605697
Hadebe, T.P. (2001), “Relationship between motivation and job satisfaction of employees at Vista Information Services”, M.A. dissertation, Rand Afrikaans University, Johannesburg
Hagihara, A., Babazono, A., Nobutomo, K., and Morimoto, K. (1998), Work versus non-work predictors of job satisfaction among Japanese white-collar workers”, Journal of Occupational Health, Vol. 40, pp. 285-292.
Haque, M. M., (2012), Job satisfaction of the employees of the commercial banks: Bangladesh perspective, Bank Parikrama. XXXVII-IV & V, 87-98
Herzberg, F., Mausner, B., & Synderman B. B. (1959), The Motivation to Work, Wiley & Sons Inc.: New York.
Hulin, C. L., & Smith, P. C. (1964), “Sex differences in job satisfaction”, Journal of Applied Psychology, 48(2), 88-92. DOI: https://doi.org/10.1037/h0040811
Judge, T.A. & Watanabe, S. (1993), “Another look at the job satisfaction - life satisfaction relationship”, Journal of Applied Psychology, 78, 939 – 948 DOI: https://doi.org/10.1037/0021-9010.78.6.939
Judge, T.A., Hulin, C.L. (1993), “Job satisfaction as a reflection of a disposition: a multiple sources causal analysis”, Organizational Behaviour and Human Decisions Processes, Vol. 56, pp. 388-421. DOI: https://doi.org/10.1006/obhd.1993.1061
Kabir, M.M., (2011), Factors Affecting Employee Job Satisfaction of Pharmaceutical Sector., Australian Journal of Business and Management Research, 11(4).
Lado, L., Maydeu-Olivares, A., & Rivera, J. (1998), Measuring market orientation in several populations: A structural equations and model. European Journal of Marketing, 32(1/2), 23–39. DOI: https://doi.org/10.1108/03090569810197408
Lane, K.A., et al., (2010), A study of nurse faculty job satisfaction in community colleges in Florida., European Journal of Management and Research, pp: 16-26. DOI: https://doi.org/10.1016/j.teln.2009.05.001
Locke, E.A., (1969), “What is job satisfaction”, Organizational Behavior and Human Performance, Vol. 4, Iss. 4, pp. 309-336. DOI: https://doi.org/10.1016/0030-5073(69)90013-0
Lyons, T. F. (1971), “Role clarity, need for clarity, satisfaction, tension and withdrawal”, Organizational Behavior and Human Performance, 6, 99-110. DOI: https://doi.org/10.1016/0030-5073(71)90007-9
McCue CP and Gianakis GA (1997) “The Relationship between Job Satisfaction and Performance: The Case of Local Government Finance Officers in Ohio”, Public Productivity & Management Review 21(2): 170-191. DOI: https://doi.org/10.2307/3380882
Megginson, L.C., Mosley, D.C. & Pietri, P.H. (1982), “Management concepts and applications” (4th ed.) New York: Harper Collins.
Newstorm John W. and Keith Davis, (2000), Organisational Behavior at work .Tenth Edition, Tata Mc GrawHill, New Delhi, Pp. 265-266.
Noor, M.S., (2009), Determinants of Employee Retention in Telecom Sector of Pakistan, CBRC, pp: 18.
Okpara, (2004), “Job Satisfaction and Organizational Commitment: Are there differences between American and Nigerian Managers Employed in the US MNCs in Nigeria?”, Academy of Business & Administrative Sciences, Briarcliffe College, Switzerland.
Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1988), SERVQUAL: A multiple-item scale for measuring customer perceptions of service quality. Journal of Retailing, 64(1), 12–40.
Rousseau, D. (1978), “Characteristics of departments, positions, and individuals: contexts for attitudes and behaviors”, Administrative Science Quarterly, Vol. 23, pp. 521–540. DOI: https://doi.org/10.2307/2392578
Sempane, M.E., Rieger, H.S. & Roodt, G. (2002), “Job satisfaction in relation to organizational culture”, South African Journal of Industrial Psychology, 28(2), 23 -30.
Sharma RD, Jyoti J (2009), Job satisfaction of university teachers: an empirical study. J. Serv. Res., 9(2): 51-80.
Shrivastava, A., & Purang, P. (2009), Employee satisfaction of job satisfaction: Comparative study on Indian banks. Asian Academy of Management Journal, Vol. 14, No. 2, 65-78.
Spector, P. E. (1997) Job satisfaction: Application, assessment, cause and consequences Thousand Oaks, CA: Sage New York: John Wiley & Sons, Inc. DOI: https://doi.org/10.4135/9781452231549
Spector, P.E. (2003), Industrial and organizational psychology – Research and practice (3rd ed.).
Suter, T.A. (1995, The integration of internal marketing into the organizational culture of service firms (pp. 431–435). Little Rock, Arkansas: Southern Marketing Association.
Waterman, R. H. (1994), What America does right: Learning from companies that put people first. New York: Norton. DOI: https://doi.org/10.1016/0007-6813(95)90109-4
--0--
