Abstract
The importance of job satisfaction as an antecedent to employees’ productivity and firm outcomes cannot be overrated in the world of business, especially in the service industry. This paper adds to the understanding of job satisfaction in insurance business by investigating the structural causes of task fulfilment. The mutual influences of compensation administration and employees’ motivation on job satisfaction was assessed using multivariate analysis. This research embraced a quantitative method and 212 employees were drawn using a convenience sampling technique. Three propositions were tested employing inferential statistical analyses run through SPSS statistics version 23 and SPSS Analysis of Moment Structures (AMOS) version 23. AMOS was used to structurally determine job satisfaction through structural equation modelling (SEM). SPSS statistics version 23 was instrumental in assessing the psychometric properties via exploratory factor analysis and Cronbach’s alpha coefficients. The results indicate a substantial affiliation between reward administration and motivation. Statistically, this study found that compensation management exerts more direct influence on employees’ job satisfaction than the indirect tie through motivation. There may be a need to redesign human resource practices in the industry to improve the degree of employees’ gratification and duty fulfilment.
Highlights
Human resources could be referred to as one of the most valued assets in service organisations across the globe
Statistical Package for the Social Sciences (SPSS) version 23 was used for the preliminary data analysis and the reliability of the research instrument
Managerial Relevance: Apart from the empirical and theoretical relevance of the current study, this paper offers practical recommendations for the management in the insurance industry
Summary
Human resources could be referred to as one of the most valued assets in service organisations across the globe. On the other hand, are loyalty of individuals, experience, age, gender, and education. Haque, Karim, Muqtadir and Anam (2012) argue that there are two factors affecting job satisfaction level of employees, namely are personal and organisational factors. Personal factors are age, gender, race and religious affiliation, and the organisational factors are leadership, organisational change and technological innovation, continuous professional development, recruitment, rotation and retention, work environment, communication and commitment, salary and stress. Lee and Way (2010) identified work itself, supervision and compensation as the overall factors influencing employees’ job satisfaction in the service industry. Employees’ satisfaction in service organisations has not been fully investigated in Nigeria, in the insurance industry (Adeoye & Fields, 2014)
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