Job satisfaction between public and privet banks in Sri Lanka

          Employees are the main driving force for every organization. According to Panghal (2013), there is a significant and positive relationship between job satisfaction and performance of an organization. As a result, job satisfaction has been considered as the main concern in every organization (Kumari & Pandey, 2011). The Difference between the volume of the rewards Employees obtain and the volume they expect they should be received is job satisfaction (Robbins & Judge, 2013). Financial benefits, job security, working environment and the relationship between peer employees are the main Causes for highest employee’s job satisfaction (Tanjeen, 2013).

          As defined by Kent, (1966) “Bank is an institution which collects idle money temporarily from the public and lends to other people as per need”. In the present competitive environment, employees of the banking sector, face several complications in carrying out their daily obligations in Sri Lanka. According to Myint et al. (2016) in the global context, the job satisfaction of the privet bank employees is higher than the employees of the public sector banks. But in Sri Lanka, employee satisfaction of public sector banks is Considerably higher than the private sector banks Khan & Parveen (2014). This has happened because of two leading causes. The first reason is the job securer of the public sector banking employees is higher than the private sector banks. Privet sector banks tend to terminate employees contract for lower performance or sometimes due to adverse market conditions. The comparatively greater burden of performance objectives, given for private sector bank employees is another main reason for this situation (Jain et al., 2012). Comparing the above research done by experts we can conclude that employees In Sri Lanka still choose public banks than private banks Khan & Parveen (2014), G. S. Dangayach (2012), JAIN et al. (2012).

References

Jain, S., Seema, S. & Jain, R., 2012. Job satisfaction in banking: a study of private and public sector banks (comparative study). International Journal of Science & Technology, 2(1), pp. 40-48.

kent, r. p., 1966. Money and Banking. s.l.: Holt, Rinehart and Winston.

Khan, N. A. & Parveen, S., 2014. A comparative study of job satisfaction of employees in. public and private sector banks in india, 26(2), pp. 813-820.

Kumari, G. & Pandey, K., 2011. Job Satisfaction in Public Sector and Private Sector. International Journal of Innovation, Management and Technology, 2(3), pp. 222-228.

Myint, S. S., Leampricha, N., Pooncharoen, N. & Rurkwararuk, W., 2016. An Analysis of Employee Satisfaction of Private Bank in Myanmar. International Business Management, 10(2), pp. 101-114.

Panghal, S., 2013. Factors influencing job satisfaction of banking sector employees in India. International Journal of New Innovations in Engineering and Technology.

Robbins, P. & Judge, A., 2013. Organizatioanal Behaviour. New Delhi: PHI Learning.

Tanjeen, E., 2013. A study on factors affecting job satisfaction of Telecommunication. IOSR Journal of Business and Management, pp. 80-86.