Abstract
The banking industry in Kenya is operating in an environment that is becoming increasingly complex due to increased competition, rapid technological changes, globalisation and growth of alternative banking institutions. In order for the banks to achieve success and to satisfy their customer needs, they must attract and retain a satisfied workforce as a source of competitive advantage. The objective of the present study is to examine the effects of demographic characteristics (age, gender, marital status, education, tenure and bank sector) and job characteristics (namely; job autonomy, job variety, role stress, co-worker and supervisory support) on job satisfaction among employees in commercial banks in Nakuru Town in Kenya. The sample of the study consisted of 126 employees drawn from a population of 180 employees from three (3) locally owned banks and five (5) foreign-owned banks. Questionnaires were used to collect data which were analysed using inferential statistics which included Independent Samples T-Test, One Way Analysis Of Variance (ANOVA), Pearsons Correlation and Multiple Regression analysis. The results showed that (a) demographic characteristics partially influenced job characteristics and job satisfaction; (b) Job autonomy, job variety, co-worker and supervisory support had significant, positive effects on job satisfaction; (c) Role stress did not have a significant effect on job satisfaction. The study recommends that bank managers adopt various managerial interventions in order to create a pleasant and supportive work environment in which job satisfaction will thrive.
Highlights
Several studies have shown that job satisfaction has significant positive effect on employee performance and job satisfaction, and negatively influences employee turnover (Lambert & Paoline, 2008)
H01: There are no differences in job characteristics and job satisfaction based on employee demographic characteristics, namely: age, gender, marital status, education, job tenure, position tenure and bank sector
The analysis has shown that job autonomy (r = 0.211, p< 0.05), co-worker support (r = 0.253, p< 0.01), supervisory support (r = 0.450, p< 0.01) and job variety (r = 0.411, p< 0.01) had significant, positive effect on job satisfaction
Summary
Several studies have shown that job satisfaction has significant positive effect on employee performance and job satisfaction, and negatively influences employee turnover (Lambert & Paoline, 2008). The present day business environment, within which banks operate, has become increasingly turbulent and complex. This is as a result of globalisation, increased competition and rapid technological change, which is presenting new challenges and new opportunities for the banking industry. Job satisfaction is very important in banks because if employees are not satisfied, their work performance, productivity, commitment as well as the interpersonal relationships among the management and their subordinates tend to be lowered (Greenberg & Baron, 1996; Saleem, Majeed & Aziz, 2013). Lack of job satisfaction resulting in turnover among bank employees cannot be taken lightly due to the associated costs which include recruitment costs, loss of well trained, experienced employees, increase in overtime payment, lost productivity and declining sales Loss of the employees means loss of intellectual asset that will take a huge budget to replace, affecting organizational costs and eventually the profits
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