2023, Vol. 4, Issue 1, Part A
An investigation into job satisfaction and service quality in the Banking industry
Author(s): Vipin Mittal
Abstract: The financial services industry has experienced tremendous growth and undergone great change in recent decades. In the developed countries it now employs far more people than the total for manufacturing industries. Varying forms of deregulation, competition and more demanding customers have created an environment significantly different from that which existed only a few years ago. In this perfectly competitive market where barriers to entry are minimal, t has become more than necessary to attract new customers and retain the existing ones. Customer delight is the key which can be attained by delivering higher than expected service and the service employees become the customer contact point which reveal the moments of truth to cast an everlasting impression which either makes the customer a positive brand ambassador or spread negative publicity. The present study covers the domains of Job satisfaction of employees and its impact on the service quality delivered by them. Exploring further the construct of employee job satisfaction amongst the three groups of banks, an attempt that is unique to this research, one find that as expected, there is difference between the three group of banks in terms of the job satisfaction levels experienced by them. The overall job satisfaction is reported to be the highest amongst the PSU bank employees. The private and foreign bank employees are less satisfied as compared to their counterparts working in PSU banks. Context job satisfaction factors (i.e. satisfaction with pay, variety of activities, environment & security) are more descriptive of employee job satisfaction than the content factors (i.e. satisfaction with work, customer interaction, promotion). In the case of PSU bank employees the opportunity to interact does not contribute to the overall job satisfaction in the regression analysis. One striking result is that marital status is a significant contributor to overall job satisfaction of employees with married employees being more satisfied than the unmarried ones. The aspect of salary (pay) has the least contribution to the overall job satisfaction. This is a positive result in the sense that employees will not be influenced by higher pay offers from competitors but also draws the attention of the bank to the significant factors like environment, variety of activities that are major contributors to job satisfaction.
Pages: 18-25 | Views: 118 | Downloads: 55
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How to cite this article:
Vipin Mittal. An investigation into job satisfaction and service quality in the Banking industry. Asian J Manage Commerce 2023;4(1):18-25.