Factors Affecting Employee Satisfaction in the Banking Industry: Case of Consolidated Bank of Kenya Limited, Kenya
Keywords:
selection strategies, job stress, organizational strategy, nature of workAbstract
Purpose: The purpose of this study was to establish the factors affecting employee satisfaction in the banking industry: case of Consolidated Bank of Kenya Limited, Kenya. The study will be guided by the following research objectives; to determine how recruitment practices influence employee satisfaction at Consolidated Bank of Kenya; to explore the effects of job stress on employee satisfaction at Consolidated Bank of Kenya; to assess the effects of organizational strategy on employee satisfaction at Consolidated Bank of Kenya and to find out how nature of work influences employee satisfaction at Consolidated Bank of Kenya.
Methodology: The research design used for this study was descriptive survey design. The target population was 276 employees which consisted of 130 senior managers, 40 supervisory employees, 101 clerical staff and 5 subordinate staff. Stratified random sampling technique will be used to determine the sample size. The sample size was 138 employees. Data was collected by use of questionnaires which consisted of structured closed ended statements. Data was analyzed mainly by use of descriptive and inferential statistics. Descriptive statistics included the mean and standard deviation. Inferential statistical techniques like correlation and regression coefficients were used to draw a causal relationship between the determinants and employee satisfaction. Data was presented by use of graphs, pie charts and tables.
Results: The study found out that recruitment has a positive impact on overall employee job satisfaction while job stress has a negative impact on employee job satisfaction at Consolidated Bank of Kenya, organizational strategy was positively and significantly related to job satisfaction, that nature of job was positively and significantly related to job satisfaction.
Unique contribution to theory, practice and policy: Recruitment of employees should be done according to employee’s level of knowledge; banking industry needs to manage employee job stress and employees need to be provided with off work days and leave days as this will translate to job satisfaction.Downloads
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