Report on performance of employees

The objective of this chapter is to offer a context for the paper by explaining the background of the study while defining objectives and questions of the research. The significance of the study will also be discussed in this chapter.

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 how they can retain employees and get best out of them. The answer to 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. Job satisfaction is crucial in enhancing the level of performance of employees (Mafini & Pooe, 2012).

It was mentioned earlier that new era of business with changing the competitive landscape is throwing various challenges for businesses. So, there is nothing different for the banking sector as well (Garth, 2014). 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. Employees are the ones, who will serve the purpose of an organization like any plan and strategy will be implemented through employees. So, if employees are satisfied from their employer, they will show their utmost commitment and loyalty to their organization.

Employee satisfaction is significant for the efficiency and success of any bank or business. A high rate of satisfaction of employee is related directly to the lower rate of turnover. Therefore, ensuring the satisfaction of employees with their careers must be the priority for each and every employer. In various countries including Oman, this fact is often ignored even though it is well-known that employee satisfaction results in enhanced organizational efficiency. Actually, there are countless reasons why workers can be discouraged and decide to leave their jobs or underperform. Some of these reasons include a lack of communication with banks, high stress, limited growth opportunity, and lack of recognition. In the modern world, it has become critical for management to focus on these factors and try to lower the rate of turnover while improving organizational success.

There are several definitions of job satisfaction, one of the simplest is that job satisfaction is concerned with a feeling which a person has regarding his job. In the past, researchers have tried to determine several components of satisfaction, evaluate the relative significance of each component, and examine the influence of these components on the productivity of workers. Other than the above-described factors, some other factors include level of benefits and pay, promotion system’s fairness, job itself, social relationships and leadership, involved tasks, and the challenges which are generated by the job. With an increase in the happiness of people, their satisfaction with their job increases. The happier they are with their employment, the more satisfied they will be. Job satisfaction has gained importance and attention ever since the approach of human relations has become popular. Complex variables, behavioral tendencies, and feelings are involved in job satisfaction.

Dissatisfaction and satisfaction with the job not only seems to depend on the job nature but also on the expectations of the employee about what the job will be supplying. Job satisfaction will be increased by higher intrinsic, social, and organizational reward with lower costs of convenience. The concept of job satisfaction is quite complex as it involves multi-facets and is affected by factors including organizational commitment, communication, autonomy, working environment, and salary. For instance, compensation is interpreted differently by different people. Wages, recognition, reward, and compensation are the terms which are utilized in different situations. American Association defines compensation as non-cash and cash remuneration offered by the employer for different services obtained from employees. Generally, salary is the prime factor which influences the motivation and satisfaction of an employee in terms of job regardless of the industry.

It can be said happy employees are productive and productive employees tend to be happy. Job satisfaction of an employee is necessary for facing the ever-increasing and dynamic challenges of creating and maintaining organizational productivity by keeping the workforce constantly motivated and engaged. In addition, several workforce needs, rising costs of health, and environmental pressures seem to pose a challenge for bank management. These issues can be resolved by creating an environment which is effective in maintaining the job satisfaction of employee while motivating them to produce exceptional outcomes. Since employee satisfaction is necessary for each and every sector, the banking sector is also benefitted from it. However, there haven’t been significant research on the lack of employee motivation and satisfaction in the Omani banking sector. Factors which influence the satisfaction of workers seem to vary with geographical locations and cultures and thus, several factors which might be effective in affecting the satisfaction of workers in the Omani banking sector are still unknown (Harzing & Pinnington, 2010).

It has been determined that employees in the Bank of Muscat underperform and it creates significant issues for the organization. For instance, employees are capable of meeting the required expectations, but they are unable to perform in collaboration with others. In addition to the underperformance of employees, employee dissatisfaction exists in the bank. Although there haven’t been significant studies in this context, this study will further explore the issue of employee satisfaction in Bank of Muscat (Kumar & Shehryar, 2017).

1.2 Significance of the Study of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

This study will be beneficial for the banking sector of Oman providing insights about the condition of the work environment in Oman banks. It will try to determine 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 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.

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 the next chapter of study. In any workplace, it can be seen that job satisfaction is among the most important factors that contribute in the performance of the employee 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 employees’ job satisfaction who 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 (Kaur, 2013).

1.3 Research Justification/Gap of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

There are several research studies that are conducted to measure satisfaction levels of the employees in various organizations 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 (Gold & Wooldridge, 1995). The major problem for banks is to keep their employees satisfied with 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 (Dalluay, Jalagat, Al-Zadjali, & Al-Abdullah, 2017).

1.4 Research Aim, Objectives and Questions

1.4.1 Research Aim of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

The purpose of the study is to investigate the issue of job satisfaction that how it plays its role in employees’ performance in the banking sector of Oman It means that study will cover two major elements, first is job satisfaction, and the other is importance of job satisfaction in keeping the performance of employees on a good level.

1.4.2 Research Objectives of Employee Satisfaction in Banking Sector of Muscat Bank in 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.

1.4.3 Research Questions of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

Four research questions emerged from a critical evaluation of the literature review will be addressed. These questions are;

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

●       What are the major parameters that impact the level of job satisfaction among banking employees?

●       How the present strategies will be 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 of Muscat?

1.5 Overview of the Study

1.5.1 Chapter 1: Introduction and Background

            This chapter provides fundamental information about the concept of employee satisfaction and explains its importance as well. Employee satisfaction is considered important in the banking sector and this significance is emphasized upon in this chapter. In addition to it, background information on the issue is also provided in the context of Bank of Muscat.

1.5.2 Chapter 2: Literature Review of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

   In this chapter, previous studies conducted by researchers on the topic of employee satisfaction and bank of Muscat are summarized. Such studies are researched and critical information is taken from those studies. Literature review is considered an important method of finding facts and figures represented by other researchers. And in this chapter, relevant information about customer satisfaction in the context of bank of Muscat has been offered.

1.5.3 Chapter 3: Research Methodology of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

     This chapter provides information about the research methodology or techniques of research adopted in this research for collecting data and information required for accomplishing the research objectives. The part of research methodology is considered integral in both scientific and non-scientific researches.

1.5.4 Chapter 4: Additional Research of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

            This chapter provides further or additional information about the concept of employee satisfaction and its significance in the business world regardless of the nature of business. The information provided in this chapter can be utilized by researchers for exploring the concept of employee satisfaction and what influences it.

1.5.5 Results and Discussion of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

            Similar to the chapter of research methodology, this chapter is considered a significant part of a study. This chapter summarizes the findings obtained through the application of research methods. In addition to summarizing the results, this chapter discusses the implications of those results.

1.5.6 Conclusion and Recommendations of Employee Satisfaction in Banking Sector of Muscat Bank in Oman

            In this research, the chapter of conclusion and recommendations is the last chapter and just as the name suggests, it concludes the research. This chapter summarizes the overall findings and determines whether research objectives have been accomplished or not. Other than just concluding the research, it offers suggestions which can be considered for improving the current situation.