Academic journal article Asian Social Science

Job Satisfaction among the Bankers: An Investigation on Islamic Financial Institution in Eastern Region of Malaysia

Academic journal article Asian Social Science

Job Satisfaction among the Bankers: An Investigation on Islamic Financial Institution in Eastern Region of Malaysia

Article excerpt

Abstract

For the past few decades numerous studies attempted to explore the relative importance of understanding job satisfaction. Realizing the need to sustain in the banking industry, this study was conducted for exploring the antecedents to the strengthening of job satisfaction. Further examination on differences between the work position, work experience as related to job satisfaction is expected to form the basis for understanding the satisfaction level of banking staffs. By adopting the survey approach, a sample of 236 data were collected within the period of two months in year 2009. Based on rigorous reviewing of the literature, instrument designing, followed by subsequent pilot testing, the final analysis revealed that job satisfaction can be predicted by using motivational factors, reward system, supervision/leadership, nurturing of working environment, and the competition climate within the industry.

Keywords: job satisfaction, motivational factors, rewards systems, supervision, work environment, competition

1. Introduction

Currently there are many interests from different sectors in studying the factors contributing to job satisfaction especially as it is expected to lead toward better quality work performance and higher commitment from workers. The job satisfaction issues are placed high across industries but there was very little research was done on the financial institutions employees. Job satisfaction basically indicated the health of an organization. Hoppock (1932) first defined the term as circumstances combination of psychological, physical and environmental that cause an employee to state his feeling on any tasks or events associated with. Locke (1976) defines job satisfaction as the resulting positive emotional feeling due to one's evaluation of their job or job experiences by comparing one's expectation from the job and what he actually gets. Smith et. al. (1969) defines job satisfaction as an individual's emotional reaction or feeling toward certain aspects of the work environments.

In the services sector such as banking, effective services rendition largely depend on the workforce (Fitzgerald et. al, 1994) and therefore job satisfaction experience by the bank employees will affect the services quality rendered. Bank Islam Malaysia Berhad (BIMB) has been in existence since 1st July 1983 with the aim to provide constant dedication to serve the best in Islamic Banking. Their vision is to be the Global Leader in Islamic Banking.

BIMB pioneered the new system of banking conforming towards totally "Shariah" requirements. Since its conception, it has played pivotal role in building a viable Islamic banking system to exist parallel as well as compliment the conventional banking system. Since its success, it can be seen that more banks have embraced the inclusion of Islamic Banking in their operation such as Maybank Islamic, HSBC Islamic Banking, Hong Leong Islamic and RHB Islamic. BIMB was chosen as the subject of the survey due to the fact that it has been in existence since 27 years ago as Malaysia's first Islamic banking service provider. With the total number of 3,500 employees in total as well around 350 employees are in the Eastern Region of Peninsular Malaysia, the study aimed to establish the current level of satisfaction of its employees in relation to selected criteria.

2. Problem Statement

Since 1997/98 Asian Financial Crisis, the Malaysian banking scenario has changed significantly. Most banks have been merged to improve efficiency and ensure survivability. In this regard, systematic mergers were done to 54 pre-crisis Malaysian domestic banks into 10 domestic post-crisis bank groups. Since the successful bank consolidations in 2001, BNM reported greater technology embracement, better product innovation, marked improvement in operating efficiency and better risk management system adoption (Aziz, 2004; Bowers et. al., 2003). In addition, the bank also faces threats of globalization and increasing competitions. …

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