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Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

Category: International Banking Paper Type: Report Writing Reference: HARVARD Words: 1850

        In the modern era of business, where dynamics have changed in so many ways, the need for more capable and satisfied human resource is increasing. The businesses may have great ideas, but they cannot be executed without skilled, efficient, satisfied and committed human resources. But the issue in hand for business organizations is that how they can retain employees and get best out of them. The answer for this question lies in the aspects of job satisfaction, which are associated with a job. The research has looked at job satisfaction and employees performance in so many ways, as they are certainly closely related to each other. The job satisfaction plays a crucial role in enhancing the level of performance of employees (Mafini & Pooe, 2012)

        It was mentioned earlier that new era of business with changing competitive landscape is throwing various challenges for businesses. So, there is nothing different for the banking sector as well. In recent global business era, the retail banks have to deal with so many challenges like facing threats from even institutions, which are not related to banking sector. It is true that new business dynamics are also coming with so many opportunities for banks, but they are also facing various competitive challenges, and one of these major challenges is managing their employees effectively so that they remain committed and loyal to the organizations, and use their utmost skills and capabilities to achieve organizational aims and objectives.

Question No1

Research objectives Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

The primary objective of this paper is to investigate the issue of job satisfaction that how it plays its role in employees performance in banking sector of Oman.

To critically evaluate current literature on employee satisfaction with a particular focus on the banking sector.

To critically assess major factors that can possibly influence the level of job satisfaction among banking employees.

To investigate the present strategies within practices of employs motivation among the banking sector with the Sultanate of Oman.

To recommend motivational factors that will influence employee satisfaction leading to competitive advantage in Bank Muscat.

Question No2

Research questions Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

There are the several research questions that will be answers in this study and all of these questions are;

What are the major issue of job satisfaction that are playing its role in employee’s performance in banking sector of Oman?

What are the major factors that can possibly influence the level of job satisfaction among banking employees?

How the present strategies will investigated within practices of employs motivation among the banking sector with the Sultanate of Oman?

What are the major motivational factors that will influence employee satisfaction leading to competitive advantage in Bank Muscat?

Question No3

Research significance Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

        This study will be beneficial for the banking sector of Oman as a whole as it would give a clear picture about the condition of work environment in Oman banks that what attributes are more prevailing for job satisfaction of employees, and which banks are leading the way with great work environment. The study will also allow Oman’s bank sector to get insight on good procedures to follow, which positively impact the job performance as well as job satisfaction of employees. Moreover, individual employees will also get insight that which banks are more suitable to work than the others. The study will also be important one for overall research sphere revolving around the topic of job satisfaction and employees performance.

Research justification/gap Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

            There are the several research study that are conducted to measure satisfaction levels of the employees in various organization but there is lack of research study for the job satisfaction of the employees of Oman particularly who are working in banking sectors of Oman. The banking sector is having various opportunities but few challenges at the same time. The major problem for banks is to keep their employees satisfied from their jobs as their job satisfaction can impact their performance. So, it is imperative for banks in Oman to know that what impact is made by job satisfaction on employees’ performance, and if this impact is positive then what attributes were associated with it, and if job satisfaction is not impacting employees performance in a positive manner, then what reasons are behind that.

Question No4

Literature review Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

There are the several research studies that are conducted on this particular topic. Few of these are mentioned below along with its authors.

Authors

Concepts for job satisfaction

(K. R. Sowmya, 2011)

In any given workplace, job satisfaction remains to be the most important factor related to employees and their job performance. This relation is certainly not a simple one to understand, but it has many aspects to look at. Different theories related to job satisfaction and employees’ performance will be reviewed. One of these theories is Hierarchy of needs. This theory was developed by Maslow and it actually examines factors, which play their part in job satisfaction. This theory has suggested a hierarchy with five levels to depict hierarchy of needs. The other important theory to be reviewed in this research is Job Characteristics Model. The primary focus of this theory is to look at motivational job characteristics, which are encouraged by the work environment. This theory has identified five major job characteristics to talk about

(Inuwa, 2015)

The research of Inuwa, (2015) looked at the association of job satisfaction for the employees of banking sectors that what factors are more crucial than the others. A research study was conducted in 2015, which tried to observe the influence of job satisfaction on employee’s performance. The research data was collected by reviewing the literature. The previous theoretical as well as empirical research studies were observed by the research to understand that what relationship of job satisfaction and performance of employees. After analyzing the literature, the researcher concluded that there is a positive relation between performance of employees and their job satisfaction. It means that these factors do play their part in better performance of employees

(Jalagat, 2017)

            One of the important factors, which can play its part in job satisfaction is that how much job stress is being carried by employees in a given work environment. A study was conducted to understand that what kind of jobs stress variables play their part in affecting employee performance. The study was also looking to find a relationship between employee performance and job stress. The study was conducted in Oman’s Petroleum Development. The study found out that work overload as well as skills’ underutilization is dominating variables in increasing job stress. So, company should turn its focus to develop the skills of employees so that job stress elements can be mitigated

(Aarti, et al., 2013)

It is often staid that productive employees are the ones, who are happy and satisfied from their job. It means that employee performance and productivity is certainly impact by the level of job satisfaction. This study contribute to job satisfaction of employees. Some of these factors included working hours, work load, training & development programs, system of performance appraisal as well as salary of the employees. It means that if these factors will dominate in an organization, then there are more chances of increased job satisfaction of employees

(Ahmed Imran Hunjra, 2010)

One of the most important factors for job satisfaction is the structure of the banks. It can be seen that in some of the banks that are located in Oman from where the data will collected from research. Their organizational structure is perfect and also ideal in the private sectors. But it can be seen that in public sector banks the organizational structure is not too much suitable for the employees. If the organizational structure is good so there will be a positive impact on job satisfaction can be seen on the employee’s performance. Some employees that are working in the banks at a lower level they are provided with few vacations as compared to those employees that are working at a higher level in the banks. Due to this reason, the job satisfaction of the lower level employees will be decreased.

 Question No5

Discussions on Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

        The study will be presented in the banking sector of Oman; the performance of the employees will be decreased when they are not satisfied with their job. , it is imperative for banks in Oman to know that what impact is made by job satisfaction on employees’ performance, and if this impact is positive then what attributes were associated with it, and if job satisfaction is not impacting employees performance in a positive manner, then what reasons are behind that. All of these reasons have been discussed in detail in next chapter of study. In any workplace, it can be seen that job satisfaction is one of the most important factors for the employee that will affect their performance in a great amount. There are many factors involved in affecting the performance of the employees so due to this their job satisfaction is decreased. Then after this, there is a comprehensive literature review is presented on the job satisfaction of the employees that are working in banks. There is a totally different situation in the banks that are located in Oman. The main reason is that it is an underdeveloped country and in that country mostly the employees are not satisfied with their job especially when they are working in banks.

References Employees satisfaction in banking Sector: A Case of Bank Muscat, Oman

Aarti, C., Chahal, S., Chowdhary, B. & Chahal, J., 2013. ob Satisfaction Among Bank Employees: An Analysis Of The Contributing Variables Towards Job Satisfaction. International Journal of Scientific & Technology Research, 2(8), pp. 11-20.

Ahmed Imran Hunjra, M. I. C. S. A., 2010. Factors effecting job satisfaction of employees in Pakistani banking sector. African Journal of Business Management, 4(10), pp. 2157-2163.

Inuwa, M., 2015. The Impact of Job Satisfaction, Job Attitude and Equity on Employee Performance. The International Journal Of Business & Management, 3(5), pp. 288-293.

Jalagat, R., 2017. Determinants of Job Stress and Its Relationship on Employee Job Performance. American Journal of Management Science and Engineering, 2(1), pp. 1-10.

K. R. Sowmya, N. P., 2011. Factors influencing job satisfaction of banking sector. Journal of Law and Conflict Resolution, 3(5), pp. 76-79.

Mafini, C. & Pooe, D., 2012. The relationship between employee satisfaction and organisational performance: Evidence from a South African government department. SA Journal of Industrial Psychology, 39(1).

 

 

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