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Associate Professor, Department of Management, Karpagam Academy of Higher Education, Coimbatore, Tamil Nadu, India
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Research Scholar, Department of Management, Karpagam Academy of Higher Education, Coimbatore Tamil Nadu, India
Professor, Department of Commerce, Karpagam Academy of Higher Education, Coimbatore, Tamil Nadu, India
Employee job satisfaction is a significant factor impacting job performance, organizational commitment, employee retention and service quality among banking sector. Private bankers may also have to work under performance pressures, increasing customer expectations, technology advancements, work load and work-life balance, all of which have negative effects on job satisfaction. In spite of a rising trend in job satisfaction and employee well-being at the workplace within the banking sector, there is insufficient knowledge on factors influencing the level of happiness among private bankers of Madurai. Therefore, this research aimed at finding out the job satisfaction level among private sector bank employees of Madurai and influencing factors of job satisfaction. The descriptive research design approach was adopted for collection of primary data from 227 randomly selected private sector bank employees by means of a structured questionnaire. Respondents to the questions were selected using a convenience sampling method. To analyze the data, percentages and Structural Equation Modeling (SEM) analyses were conducted using IBM SPSS Statistics (version 26) and IBM AMOS (version 24). Results of the SEM indicated that the majority of respondents were aged between 26 and 35 years old (40.53%), male (59.03%), married (62.56%), and lived in urban areas (59.91%). Results indicated that organizational factors were significant influences on employee motivation (β=0.71; p<0.001) and work-life balance (β=0.64; p<0.001). Employee motivation (β=0.58, p<0.001) and work-life balance (β=0.49, p<0.001) were also significant predictors of job satisfaction. Job satisfaction (β=0.42, p<0.001) was also significantly related to organizational factors. The model had a good fit to the data (CMIN/DF= 2.24; GFI = 0.92; CFI = 0.95; TLI = 0.94; RMSEA= 0.051; SRMR = 0.046). The research suggests that there are many elements influencing employees’ levels of job satisfaction within private banks. These include the support offered by the organization, the motivation of the employee, and a favorable work-life balance. Employees who receive enhanced HR practices in the areas of compensation, career advancement, leadership support, and welfare will have greater levels of job satisfaction, organizational commitment, and productivity than those employees who do not benefit from these enhanced HR practices.
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