Employee Job Satisfaction of The City Bank Limited

Submitted by

Dinesh sabhnani

MASTERS IN COMMERCE SEM-I (business management)

ACADEMIC YEAR 2014-2015

Roll No.1515042

Project Guide

Prof. MRS. Soni hassani

Submitted to

UNIVERSITY OF MUMBAI

MULUND COLLEGE OF COMMERCE

S.N ROAD, MULUND (W)

MUMBAI 400 080

CERTIFICATE

THIS IS TO CERTIFY THAT Mr. DINESH SABHNANI of MULUND COLLEGE OF COMMERCE, S.N Road, Mulund (W), Mumbai 400 080, studying in M.Com part-I (Business Management) here by declaring that I have completed this project “Employee Job Satisfaction of The City Bank Limited ” during the academic year 2015-16. The information submitted is true and original to the best of my knowledge.

COURSE CO-ORDINATOR

PRINCIPAL

DR PARVATHI VENKATESH

Project guide/internal examiner

External examiner

DECLARATION

I, Mr. Dinesh sabhnani, the student of MULUND COLLEGE OF COMMERCE, S.N Road, Mulund (W), Mumbai 400 080, studying in M.Com part-I (Business Management) here by declaring that I have completed this project “Employee Job Satisfaction of The City Bank Limited ” during the academic year 2015-16. The information submitted is true and original of best of my knowledge.

Date:

Signature:

Place: MUMBAI

ACKNOWLEDGEMENT

It was a enriching and learning experience for me to do this Project. I would like to acknowledge all those people who have continuously guided me throughout and helped me in completion of my project “Employee Job Satisfaction of The City Bank Limited”

I would like to thank our principle DR PARVATHI VENKATESH

I would really like to my project guide Prof. MRS. Soni hassani

for her complete help and support to complete this project.

I am also thankful to our non-teaching staffs of my college especially the library staff.

I would also like to thank to all the respondents who have helped me for collection of data, for their honest participation in the Research and helped me directly or indirectly in successful completion of this study for their help and cooperation throughout the project

Table of contents

Serial no

Title Page no

1 Chapter 1

HRM INTRODUCTION1

NATURE OF HUMAN RESOURCE MANAGEMENT2

OBJECTIVES OF HUMAN RESOURCE MANAGEMENT

3

FUNCTIONS OF HUMAN RESOURCE MANAGEMENT.

4

2 Chapter 2

JOB SATISFACTION 7

INFLUENCING FACTORS 7

INDIVIDUAL FACTORS 9

3 Chapter 3

OVERVIEW OF THE CITY BANK LIMITED 11

VISION 13

MISSION 14

VALUES14

BRANCHES OF CBL 15

GOALS AND OBJECTIVES OF THE CITY BANK LIMITED

16

HIERARCHY OF THE CITIBANK LTD 18

MONETARY AND NONMONETARY BENEFITS OF CITIBANK 19

4 Chapter 4

LITERATURE REVIEW 23

CONCEPTUAL FRAMEWORK 30

DATA COLLECTION 32

DATA ANALYSIS 33

RECOMMENDATION AND CONCLUSION 39

HRM INTRODUCTION

Human Resource Management (HRM) is a relatively new approach to managing people in any organisation. People are considered the key resource in this approach. it is concerned with the people dimension in management of an organisation. Since an organization is a body of people, their acquisition, development of skills, motivation for higher levels of attainments, as well as ensuring maintenance of their level of commitment are all significant activities. These activities fall in the domain of HRM. Human Resource Management is a process, which consists of four main activities, namely, acquisition, development, motivation, as well as maintenance of human resources. Scott, Clothier and Spriegel have defined Human Resource Management as that branch of management which is responsible on a staff basis for concentrating on those aspects of operations which are primarily concerned with the relationship of management to employees and employees to employees and with the development of the individual and the group.

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Human Resource Management is responsible for maintaining good human relations in the organization. It is also concerned with development of individuals and achieving integration of goals of the organization and those of the individuals. Northcott considers human resource management as an extension of general management, that of prompting and stimulating every employee to make his fullest contribution to the purpose of a business. Human resource management is not something that could be separated from the basic managerial function. It is a major component of the broader managerial function. French Wendell, defines ―Human resource management as the recruitment, selection, development, utilization, compensation and motivation of human resources by the organization‖. According to Edwin B. Flipped, ―Human resource management is the planning, organizing, directing and controlling of the procurement, development, resources to the end that individual and societal objectives are accomplished‖. This definition reveals that human resource (HR) management is that aspect of management, which deals with the planning, organizing, directing and controlling the personnel functions of the enterprise.

NATURE OF HUMAN RESOURCE MANAGEMENT

The emergence of human resource management can be attributed to the writings of the human religionists who attached great significance to the human factor. Lawrence Apply remarked,―Management is personnel administration‖. This view is partially true as management is concerned with the efficient and effective use of both human as well as non-human resources. Thus human resource management is only a part of the management process. At the same time, it must be recognized that human resource management is inherent in the process of management. This function is performed by all the managers. A manager to get the best of his people, must undertake the basic responsibility of selecting people who will work under him and to help develop, motivate and guide them. However, he can take the help of the specialized services of the personnel department in discharging this responsibility.

The nature of the human resource management has been highlighted in its following features :

1.Inherent Part of Management :

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 Human resource management is inherent in the process of management. This function is performed by all the managers throughout the organization rather that by the personnel department only. If a manager is to get the best of his people, he must undertake the basic responsibility of selecting people who will work under him.

2.Pervasive Function :

 Human Resource Management is a pervasive function of management. It is performed by all managers at various levels in the organization. It is not a responsibility that a manager can leave completely to someone else. However, he may secure advice and help in managing people from experts who have special competence in personnel management and industrial relations.

3.Basic to all Functional Areas : 

Human Resource Management permeates all the functional area of management such as production management, financial management, and marketing management. That is every manager from top to bottom, working in any department has to perform the personnel functions.

4.People Centered :

 Human Resource Management is people centered and is relevant in all types of organizations. It is concerned with all categories of personnel from top to the bottom of the organization. The broad classification of personnel in an industrial enterprise may be as follows : (I) Blue-collar workers (i.e. those working on machines and engaged in loading, unloading etc.) and white-collar workers (i.e. clerical employees), (ii) Managerial and non-managerial personnel, (iii) Professionals (such as Chartered Accountant, Company Secretary, Lawyer, etc.) and non- professional personnel.

5.Personnel Activities or Functions : 

Human Resource Management involves several functions concerned with the management of people at work. It includes manpower planning, employment, placement, training, appraisal and compensation of employees. For the performance of these activities efficiently, a separate department known as Personnel Department is created in most of the organizations.

6.Continuous Process :

 Human Resource Management is not a ‗one shot‘ function. It must be performed continuously if the organizational objectives are to be achieved smoothly.

7.Based on Human Relations : 

Human Resource Management is concerned with the motivation of human resources in the organization. The human beings can‘t be dealt with like physical factors of production. Every person has different needs, perceptions and expectations. The managers should give due attention to these factors. They require human

OBJECTIVES OF HUMAN RESOURCE MANAGEMENT

According to Scott, Clothier and Spiegel, ―The objectives ofHuman Resource Management, in an organization, is to obtain maximum individual development, desirable working relationships between employers and employees and employers and employees, and to affect the molding of human resources as contrasted with physical resources‖.

The basic objective of human resource management is to contribute to the realization of the organizational goals. However, the specific objectives of human resource management are as follows :

(I)To ensure effective utilization of human resources, all other organizational resources will be efficiently utilized by the human resources.

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(ii)To establish and maintain an adequate organizational structure of relationship among all the members of an organization by dividing of organization tasks into functions, positions and jobs, and by defining clearly the responsibility, accountability, authority for each job and its relation with other jobs in the organization.

(iii) To generate maximum development of human resources within the organization by offering opportunities for advancement to employees through training and education.

(iv) To ensure respect for human beings by providing various services and welfare facilities to the personnel.

(v) To ensure reconciliation of individual/group goals with those of the organization in such a manner that the personnel feel a sense of commitment and loyalty towards it.

(vi) To identify and satisfy the needs of individuals by offering various monetary and non-monetary rewards.

In order to achieve the above objectives, human resource management undertakes the following activities :Human Resource Planning, i.e., determining the number and kinds of personnel required to fill various positions in the organization.

(ii)Recruitment, selection and placement of personnel, i.e., employment function.

(iii)Training and development of employees for their efficient performance and growth.

(iv)Appraisal of performance of employees and taking corrective steps such as transfer from one job to another.

(v)Motivation of workforce by providing financial incentives and avenues of promotion.

(vi)Remuneration of employees. The employees must be given sufficient wages and fringe benefits to achieve higher standard of living and to motivate them to show higher productivity.(vii)Social security and welfare of employees.

FUNCTIONS OF HUMAN RESOURCE MANAGEMENT.

The main functions of human resource management are classified into two categories:(a) Managerial Functions and (b) Operative Functions

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(a) Managerial Functions

Following are the managerial functions of Human Resources Management.

1.Planning :

 The planning function of human resource department pertains to the steps taken in determining in advance personnel requirements, personnel programmers, policies etc. After determining how many and what type of people are required, a personnel manager has to devise ways and means to motivate them.

2.Organisation :

 Under organization, the human resource manager has to organize the operative functions by designing structure of relationship among jobs, personnel and physical factors in such a way so as to have maximum contribution towards organizational objectives. In this way a personnel manager performs following functions :

(a)preparation of task force;(b)allocation of work to individuals;(c)integration of the efforts of the task force;(d)coordination of work of individual with that of the department.

3.Directing : 

Directing is concerned with initiation of organized action and stimulating the people to work. The personnel manager directs the activities of people of the organization to get its function performed properly. A personnel manager guides and motivates the staff of the organization to follow the path laid down in advance.

4.Controlling : 

It provides basic data for establishing standards, makes job analysis and performance appraisal, etc. All these techniques assist in effective control of the qualities, time and efforts of workers.

(b) Operative Functions :

The following are the Operative Functions of Human Resource Management

1.Procurement of Personnel :

 It is concerned with the obtaining of the proper kind and number of personnel necessary to accomplish organization goals. It deals specifically with such subjects as the determination of manpower requirements, their recruitment, selecting, placement and orientation, etc.

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2.Development of Personnel

: Development has to do with the increase through training, skill that is necessary for proper job performance. In this process various techniques of training are used to develop the employees. Framing a sound promotion policy, determination of the basis of promotion and making performance appraisal are the elements of personnel development function.

3.Compensation to Personnel

: Compensation means determination of adequate and equitable remuneration of personnel for their contribution to organization objectives. To determine the monetary compensation for various jobs is one of the most difficult and important function of the personnel management. A number of decisions are taken into the function, viz.,  job-evaluation, remuneration, policy, inventive and premium plans, bonus policy and co-partnership, etc. It also assists the organization for adopting the suitable wages and salaries, policy and payment of wages and salaries in right time.

4. Maintaining Good Industrial Relation

: Human Resource Management covers a wide field. It is intended to reduce strafes, promote industrial peace, provide fair deal to workers and establish industrial democracy. It the personnel manager is unable to make harmonious relations between management and labor industrial unrest will take place and millions of man-days will be lost. If labor management relations are not good the moral and physical condition of the employee will suffer, and it will be a loss to an organization vies-a-visa nation. Hence, the personnel manager must create harmonious relations with the help of sufficient communication system and co-partnership.

5.Record Keeping

 In record-keeping the personnel manager collects and maintains information concerned with the staff of the organization. It is essential for every organization because it assists the management in decision making such as in promotions.

6.Personnel Planning and Evaluation : 

Under this system different type of activities are evaluated such as evaluation of performance, personnel policy of an organization and its practices, personnel audit, morale, survey and performance

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Job satisfaction

Job satisfaction or employee satisfaction has been defined in many different ways. Some believe it is simply how content an individual is with his or her job, in other words, whether or not they like the job or individual aspects or facets of jobs, such as nature of work or supervision. Others believe it is not so simplistic as this definition suggests and instead that multidimensional psychological responses to one's job are involved. Researchers have also noted that job satisfaction measures vary in the extent to which they measure feelings about the job

Influencing factors

Environmental factorsCommunication overload and under load

One of the most important aspects of an individual’s work in a modern organization concerns the management of communication demands that he or she encounters on the job.[29] Demands can be characterized as a communication load, which refers to “the rate and complexity of communication inputs an individual must process in a particular time frame.”[30] Individuals in an organization can experience communication over-load and communication under- load which can affect their level of job satisfaction. Communication overload can occur when “an individual receives too many messages in a short period of time which can result in unprocessed information or when an individual faces more complex messages that are more difficult to process.[30]” Due to this process, “given an individual’s style of work and motivation to complete a task, when more inputs exist than outputs, the individual perceives a condition of overload[29] which can be positively or negatively related to job satisfaction. In comparison, communication under load can occur when messages or inputs are sent below the individual’s ability to process them.”[30] According to the ideas of communication over-load and under-load, if an individual does not receive enough input on the job or is unsuccessful in processing these inputs, the individual is more likely to become dissatisfied, aggravated, and unhappy with their work which leads to a low level of job satisfaction.

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Superior-subordinate communication

Superior-subordinate communication is an important influence on job satisfaction in the workplace. The way in which subordinates perceive a supervisor's behavior can positively or negatively influence job satisfaction. Communication behavior such as facial expression, eye contact, vocal expression, and body movement is crucial to the superior-subordinate relationship (Teen, p. 156). Nonverbal messages play a central role in interpersonal interactions with respect to impression formation, deception, attraction, social influence, and emotional.[31] Nonverbal immediacy from the supervisor helps to increase interpersonal involvement with their subordinates impacting job satisfaction. The manner in which supervisors communicate with their subordinates non-verbally may be more important than the verbal content (Teen, p. 156). Individuals who dislike and think negatively about their supervisor are less willing to communicate or have motivation to work whereas individuals who like and think positively of their supervisor are more likely to communicate and are satisfied with their job and work environment. A supervisor who uses nonverbal immediacy, friendliness, and open communication lines is more likely to receive positive feedback and high job satisfaction from a subordinate. Conversely, a supervisor who is antisocial, unfriendly, and unwilling to communicate will naturally receive negative feedback and create low job satisfaction in their subordinates in the workplace.

Strategic employee recognition

A Watson Wyatt Worldwide study identified a positive outcome between a collegial and flexible work environment and an increase in shareholder value. Suggesting that employee satisfaction is directly related to financial gain. Over 40 percent of the companies listed in the top 100 of Fortune magazine’s, “America’s Best Companies to Work For” also appear on the Fortune 500. It is possible that successful workers enjoy working at successful companies, however, the Watson Wyatt Worldwide Human Capital Index study claims that effective human resources practices, such as employee recognition programs, lead to positive financial outcomes more often than positive financial outcomes lead to good practices.[32]

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Employee recognition is not only about gifts and points. It's about changing the corporate culture in order to meet goals and initiatives and most importantly to connect employees to the company's core values and beliefs. Strategic employee recognition is seen as the most important program not only to improve employee retention and motivation but also to positively influence the financial situation.[33] The difference between the traditional approach (gifts and points) and strategic recognition is the ability to serve as a serious business influencer that can advance a company’s strategic objectives in a measurable way. "The vast majority of companies want to be innovative, coming up with new products, business models and better ways of doing things. However, innovation is not so easy to achieve. A CEO cannot just order it, and so it will be. You have to carefully manage an organization so that, over time, innovations will emerge."[34]

Individual factors

Emotion

Mood and emotions at work are related to job satisfaction. Moods tend to be longer lasting but often weaker states of uncertain origin, while emotions are often more intense, short-lived and have a clear object or cause.[35]

Some research suggests moods are related to overall job satisfaction.[36][37] Positive and negative emotions were also found to be significantly related to overall job satisfaction.[38]

Frequency of experiencing net positive emotion will be a better predictor of overall job satisfaction than will intensity of positive emotion when it is experienced.[38]

Emotion work (or emotion management) refers to various types of efforts to manage emotional states and displays. Emotion management includes all of the conscious and unconscious efforts to increase, maintain, or decrease one or more components of an emotion. Although early studies of the consequences of emotional work emphasized its harmful effects on workers, studies of workers in a variety of occupations suggest that the consequences of emotional work are not uniformly negative.[39]

It was found that suppression of unpleasant emotions decreases job satisfaction and the amplification of pleasant emotions increases job satisfaction.[40]

The understanding of how emotion regulation relates to job satisfaction concerns two models:

Emotional dissonance. Emotional dissonance is a state of discrepancy between public displays of emotions and internal experiences of emotions,

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that often follows the process of emotion regulation. Emotional dissonance is associated with high emotional exhaustion, low organizational commitment, and low job satisfaction.

Social interaction model. Taking the social interaction perspective, workers’ emotion regulation might beget responses from others during interpersonal encounters that subsequently impact their own job satisfaction. For example: The accumulation of favorable responses to displays of pleasant emotions might positively affect job satisfaction.

Genetics

It has been well documented that genetics influence a variety of individual differences.[45] Some research suggests genetics also play a role in the intrinsic, direct experiences of job satisfaction like challenge or achievement (as opposed to extrinsic, environmental factors like working conditions). One experiment used sets of monozygotic twins, reared apart, to test for the existence of genetic influence on job satisfaction. While the results indicate the majority of the variance in job satisfaction was due to environmental factors (70%), genetic influence is still a minor factor. Genetic heritability was also suggested for several of the job characteristics measured in the experiment, such as complexity level, motor skill requirements, and physical demands.

Personality

Some research suggests an association between personality and job satisfaction.Specifically, this research describes the role of negative affectivity and positive affectivity. Negative affectivity is related strongly to the personality trait of neuroticism. Individuals high in negative affectivity are more prone to experience less job satisfaction. Positive affectivity is related strongly to the personality trait of extraversion. Those high in positive affectivity are more prone to be satisfied in most dimensions of their life, including their job. Differences in affectivity likely impact how individuals will perceive objective job circumstances like pay and working conditions, thus affecting their satisfaction in that job.

There are two personality factors related to job satisfaction, alienation and locus of control. Employees who have an internal locus of control and feel less alienated are more likely to experience job satisfaction, job involvement and organizational commitment. A meta-analysis of 187 studies of job satisfaction concluded that high satisfaction was positively associated with internal locus of control. The study also showed characteristics like

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high machiavellianism, narcissism, trait anger, type A personality dimensions of achievement striving and impatience/irritability, are also related to job satisfaction.

Psychological well-being

Psychological well-being (PWB) is defined as “the overall effectiveness of an individual’s psychological functioning” as related to primary facets of one’s life: work, family, community, etc.[50] There are three defining characteristics of PWB. First, it is a phenomenological event, meaning that people are happy when they subjectively believe themselves to be so. Second, well-being involves some emotional conditions. Particularly, psychologically well people are more prone to experience positive emotions and less prone to experience negative emotions. Third, well-being refers to one's life as a whole. It is a global evaluation. PWB is primarily measured using the eight-item Index of Psychological Well-Being developed by Berkman (IPWB). IPWB asks respondents to reply to a series a questions on how often they felt “pleased about accomplishing something,” “bored,” “depressed or unhappy,” etc.

PWB in the workplace plays an important role in determining job satisfaction and has attracted much research attention in recent years. These studies have focused on the effects of PWB on job satisfaction as well as job performance. One study noted that because job satisfaction is specific to one’s job, the research that examined job satisfaction had not taken into account aspects of one’s life external to the job. Prior studies had focused only on the work environment as the main determinant of job satisfaction. Ultimately, to better understand job satisfaction (and its close relative, job performance), it is important to take into account an individual’s PWB. Research published in 2000 showed a significant correlation between PWB and job satisfaction (r = .35, p < .01). A follow-up study by the same authors in 2007 revealed similar results (r = .30, p < .01). In addition, these studies show that PWB is a better predictor of job performance than job satisfaction alone.

OVERVIEW OF THE CITY BANK LIMITED

The City Bank Limited is one of the oldest private commercial banks operating in Bangladesh. The Bank has been operating since 1983 with an authorized capital of Tk. 1.75 Billion under the entrepreneurship of twelve prominent & leading businessman of the country. The noble intention behind starting this Bank was to bring about qualitative changes in the sphere of Banking and Financial management. Today The City Bank Limited serves its customers 89 branches spread

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over the country & about three hundred oversea correspondences coveringall themajor cities and business centeroftheworld.

The services include wide diversified areas of trade, commerce & industry which customized to the specific needs of the customers and are famous by an exceptional level of prompt and personal attention. Over the years the Bank has expanded of Its Services. The extensive and ever growing domestic network provides and carries various products and services.

The City Bank Limited has already introduced some new Banking products like dual currency Credit Cards, ATM and Online services which has created attraction among the clients. The Bank is going to introduce real time Internet, SMS and Phone Banking systems with all modern deliverychannels at an earlydate.

For significant performance, The Bank has earned national & international recognition. The City Bank Limited was one of the 12 Banks of Bangladesh among the 500 Banks in Asia for its asset, deposit & profit as evaluated by "ASIA WEEK" in The Year 2000. Other than that, The City Bank Limited received the "Top Ten Company" award from the Prime MinisterofthePeople's RepublicOfBangladesh.

The City Bank Limited has a distinguished Board of Directors which consists of thirteen successful and reputed businessmen. Mr. Aziz Al-Kaiser, a top leading businessman, industrialist, pioneer personality& entrepreneur of private sector's Bank in Bangladesh, is the Chairman ofthe Bank.

Mr. KaziMahmoodSattar a dynamic, nationally & internationally reputed Banker is the ManagingDirectorofthe Bank.

The bank currently has 89 online branches spread across the country that include a fully fledged Islamic Banking branch. Besides these traditional delivery points, the bank is also very active in the alternative delivery area. It currently has 100 ATMs of its own; and ATM

Employee Job Satisfaction of the City Bank Limited – A study on RFC Collection

Sharing arrangement with a partner bank that has 225 ATMs in place; SMS Banking; Interest

Banking and so on. Soon its Customer Call Centeris going to start operation.

The City Bank Limited is the first bank in Bangladesh to have issued Dual Currency Credit

Card. The bank is a principal member of VISA international and it issues both Local Currency

(Taka) & Foreign Currency (US Dollar) card limits in a single plastic. VISA Debit Card is

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another popular product which the bank is pushing hard in order to ease out the queues at the

branch created by its surprising base of some 400,000 retail customers. The launch of VISA

Prepaid Card for the travel sector is currently underway.

The City Bank Limited prides itself in offering a very personalized and friendly customer

service. It has in place a customized service excellence model called GAP (Graceful-

Appropriate-Pleasing) that focuses on ensuring happy customers through setting benchmarks

forth bank’s employees' attitude, behavior, readiness level, accuracy and timelines of service

quality.

The City Bank Limited is one of the largest corporate banks in the country with a current

business model that heavily encourages and supports the growth of the bank in Retail and SME

Banking. The bank is very much on its way to opening many independent SME centers across

the country within a short time. The bank is also very active in the workers' foreign remittance

business. It has strong tie-ups with major exchange companies in the Middle East, Europe, Far

East & USA, from where thousands of individual remittances come to the country every month

for disbursements through the bank's large network of 97 online branches.

The current senior management leaders of the bank consist of people from the multinational banks with superior management skills and knowledge in their respective "specialized" areas. In 2008 the bank celebrated its 25th year of journey with the clear ambition of becoming the no.1 private commercial bank in the country within 3 years time. The newly launched logo and the pay-off line of the bank were just one initial step towards reaching that poi

VISION

The Financial Supermarket with a Winning Culture Offering Enjoyable Experiences.

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MISSION

Offer wide array of products and services that differentiate and excite all customer

segments.

Be the ‘Employer of choice’ by offering an environment where people excel and leaders are

created.

Continuously challenge processes and platforms to enhance effectiveness and efficiency.

Promote innovation and automation with a view to guaranteeing and enhancing excellence

in service.

Ensure respect for community, good governance and compliance in everything we do.

VALUES

Result Driven

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Engaged & Inspired

Accountable &Transparent

Focused on Customer Delight

Courageous &Respectful

BRANCHES OF CBL

CBL is one of the fastest growing banks in Bangladesh. Now 97 branches are operating all

over Bangladesh.

47 Branches in Dhaka Division

18 Branches in Chittagong Division

6 Branches in Comilla Division

10 Branches in Sylhet Division

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10 Branches in Bogra Division

6 Branches in Khulna Division

The network of CBL engages itself for providing best quality banking service in retail,

commercial, corporate and Islamic banking segments. The country’s top enterprises,

multinational and local corporations and financial institutions areserved by CBL. With a total

asset of BDT 15,035.89 million, CBL is among the top performing local banks in Bangladesh.

GOALS AND OBJECTIVESOF THECITYBANKLIMITED

To build up strong pillar of capital.

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To promote trade, commerce and industry.

To discover strategies for achieving systematic growth.

To improve and broaden the range of product and services.

To develop human resource by increasing

employment opportunities.

To enhance asset of shareholders.

To offer standard financial services to the people.

To create congenial atmosphere so that the client becomes interested to deal with the prime

bank limited.

To keep business morality.

To develop welfare oriented banking service.

To offer highest possible benefit to customers.

As to its position among its counterparts is held high to let the viewers cast their very first

look at it.

To carry on the business of discounting and dealing in exchange of specie and securities

and all kinds of mercantile banking.

To provide for safe-deposit vaults and the safe custody of valuables of all kinds.

To carry on business as financiers, promoters, capitalists, financial and monitory agents,

concessionaires and brokers.

To act as agents for sale and purchase of any stock, shares or securities or for any other

momentary or mercantile transaction.

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To establish and open offices and branches to carry on all or any of the business abroad and within the country provided prior permission is obtained from Bangladesh bank.

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The monetary and non monetary benefits of city bank are as follows:-

1)Flexible working hours

Flexible hours or flexi-time schemes. For example, an employee works from 10 a.m. to 6 p.m. rather than from 8 a.m. to 4 p.m. When employees arrive at different times in the morning, this is called staggered hours

Compressed workweeks. For example, four 10-hour days, or a 9-day fortnight

Part-time work

Job sharing. This is a structured form of part-time work, with various models. A 50:50 split is common but not the only option. Some employers find it best that both workers have at least one day in common, so they can share information and brief each other on current tasks and is

2) Work from home benefit

As more and more professionals seek a better work-life balance and more companies adopt flexible policies to accommodate shifting workplace priorities and realities the working from home option is becoming increasingly viable. Employees see this as an ideal means to remain in the workforce and continue to be employed thereby maintaining all the tangible benefits of being part of an established company, while enjoying all the advantages of being based at home. The option has its potential pitfalls however and below we discuss some of the advantages and disadvantages of working from home.

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3) paid holiday

Almost all workers are legally entitled to 5.6 weeks’ paid holiday per year (known as statutory leave entitlement or annual leave). An employer can include bank holidays as part of statutory annual leave.Self-employed workers aren’t entitled to annual leave. city bank gives 3 nights 4 days stay at club mahindra every year

4) maternity leave

At present, as per Section 5(3)of the Act, a working woman is entitled for twelve weeks of maternity leave out of which six weeks are before the expected date of delivery. 6 months flexible maternity benefit..where leave does not need to be taken at a stretch, but can be broken in parts

5) Child care benefit

Child care - a fixed amount every month for child upto 4 years of age

6) Overtime meal expense reimbursements

When an employee is required to work overtime, the employee may receive an overtime meal allowance for actual expenses supported by a detailed/itemized receipt, not to exceed $15.00. To qualify, the employee must be required to report to work at least two hours prior to, or be required to remain at least two hours past, their regularly scheduled work day

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7) Credit card benefits

Additional credit card benefit for employees

8) Lounge benefits at airport

Employees get the additional lounge benefits at international airport

9) Medical insurance

Citibank offers health, vision, life, and AD&D insurance to eligible employees. Short- and long-term disability are also available. upto 1.5 lacs

10) Long Service Awards

To acknowledge the loyalty and dedication towards the organization, all our employees who complete 5, 10 & 15 years of service in city bank are recognized through our Long Service Awards. This aims at appreciating the commitment that our employees make towards the organization.

11) Housing Loan:

City bank provides housing loan facility at very nominal rates.

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12) Salary:

City bank provides better salaries as compared to other banks.

13) Work Pressure:

Work pressure is less compared to the other banks

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LITERATURE REVIEW

Working Environment

In this study, working environment refers to facilities, interior design and exterior design

provided by company. Facilities are building, equipment and machinery that are provided by

company for business purpose. Beside that working environment includes indoor and outdoor

workplace. It is through the engagement of conducive work environment that will influence

service climateandeventuallyinfluencejob satisfaction. (Ram et. al, 2011).

Regarding competition between the staff also give an impact to the job satisfaction. This is

supported by Schemerhon (2011) found that competitor within a form may result in a situation

which one party achieve victory by having superior skill or domination. If it poorly manage, it

may result to conflicts which never been resolved and may interfere with the overall performance

of the staff. Greenberg and Baron (2008).Korman (1977) identified personal factors and working

environments such as job category level, affect job satisfaction, job variety, leadership by

supervisor, promotional opportunities, reward system, social interaction as well as teamwork.

Hui and Yee (1999) listed down positive workgroup atmosphereresulted in higherjob satisfaction

collectivelyratherthan individuals.

The creation of a good human relation activities is very much related to the management of

employment relationship (Lin et al., 2008). With this establishment it will further enhance the

spirit ofhealthycompetition within thefirm (Andonova&Zuleta, 2007).

Relationship with Supervisor

Supervisory practices are the most thoroughly researched of job satisfaction’s variable. A

large number of researches have been conducted since the initial publication of the Michigan

Leadership Studies by Katz et al., (1950) and most found that participative and involving

supervisor leadership effect job satisfaction positively (Saiyadain, 1985; Lunjew et al., 1994;

Kim, 2002). The term leadership means different things to different people. Although there is no

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ultimate definition of leadership exists (Yukl, 2002), the majority of definitions of leadership

reflect some basic elements include, group, influence, and goal (Bryman, 1992). Leadership is

associated with management, although the emphasis in leadership is on development, strategy,

vision and adapting the organization to a changing environment. Management is about planning,

organizing and controlling, both human and non-human, to achieve the goals and objectives

(Riggs, 1997). As leadership focuses on the social exchange relationship between leaders and

employees, possible outcomes such as subordinate satisfaction, supervisor satisfaction,

performance, commitment, role conflict, role clarity and turnover intentions (Schermerhorn et

al., 2011; Yukl, 2002) can be observed. Staff-relatedtasks like delegating, informing and

communicating also correlate positively with job satisfaction. Howell and Avolio (1993), suggest

that an awareness of the role of leaders and the effect of leadership style provides a partial

explanation for developing organizational effectiveness. This is consistent with the findings of

leadership theorists who suggest that the presence of certain leadership styles may significantly

influence employee motivation and ultimatelycompanyperformance.

Financial Reward

O’Reillyet al. (1980) have linked that both tasks and organizational reward contributed to job

satisfaction. Intrinsic reward directly linked to jobs such as interesting and challenging work,

variety and ability to use one’s skills are task rewards. Tangible rewards which are visible to

others such as salary, promotion and comfortable working condition are organizational rewards.

Thus job satisfaction is a function of a combination of situational characteristics and situational

occurrences. The situational characteristics commonly proposed as key factors in job satisfaction

are: the work itself, pay, promotion, supervision and co-workers, although other variables such

as employee involvement and organization commitment (Crossman &AbouZaki 2003). Thus, the

ability to achieve and maintain high levels of motivation become a real challenge that can

provide employees with the strength to combat doubt, anxiety, and uncertainty (Quick & Nelson,

2009; Stajkovic, 2006). The role of colleagues in addition further supports the process of

enhancing motivation of employees at workplace. (Winnie, et al., 2011)

Compensation and benefits are important factors influencing employee retention. The major

reason people working are to have income in order to fulfill basic survival needs such as food,

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clothing and shelter. Satisfaction through income earned further leads to employee retention.

Appelbaum (1991) states that many companies today identify innovation strategies that are

directly linked to improving organizational performance. There are many approaches to incentive

compensation such as cash, bonuses, stock purchase and profit sharing. These can affect the

worker performance as well as job satisfaction which contribute to the worker productivity.

Money, benefits, and many different forms of compensation have been used to attract, retain, and

motivate employees and achieve organizational goals in the USA and around the world (Barber

&Bretz, 2000; Chiu et al., 2001; Tang et al., 1998). The remuneration policy of a company may

be used specifically to retain top workers as well as win out over competitors who have high

executive turnover rates. Salary though might not inspire loyalty to an organization, is usually

the single most important factors for a person’s decision to join, stay or leave. Ronan and

Organt(1973) listed salary as main factors influencing job satisfaction. Egbule (2003) study of

academic staffs’ job satisfaction in Nigeria was affected by salary, working condition and

university status. Ronan and Organt (1973) listed salary as main factors influencing job

satisfaction. Organizations with a high paylevelmayattract and retain a qualified work-

force (Williams &Dreher, 1992), and reduce training or recruiting costs (Holzer, 1990). It has

been suggested by researchers that money is a motivator (Lawler, 1973). Many studies have

investigated the relationships between compensation components and attraction, retention, and

motivation of US employees (Barber &Bretz, 2000; Gerhart&Milkovich, 1992; Kahn &Sherer,

1990). Base salary is one of the main determinants that employeesusewhentheymakean

employment decision (Gerhart&Milkovich, 1992).

The efficiency wage theory asserts that above-market pay can increase efficiency and reduce

unit labor costs such as attracting high-quality applicants, reducing turnover and increasing work

effort (Campbell, 1993; Cappelli& Chauvin, 1991). High pay influences employees’ decisions in

employment acceptance and intention to leave (Judge, 1993; Lawler & Jenkins, 1992).

Employers use benefits to attract and retain good people; employees rely on benefits (e.g.

medical subsidies, vacations, and retirement) to secure their financial wellbeing.

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By linking benefits (e.g. pension and holidays) to seniority, workers will be reluctant to

change jobs (Gerhart&Milkovich, 1992). Generous rewards tend to retain people, lead to high

satisfaction, commitment, and loyalty.

Job Satisfaction

Over the year, some research has shown that job satisfaction causes job performance.

(Goodman, 2007). Job satisfaction is an integral part in human resources management. By

identifying factors influencing job satisfaction, the management especially human resource

department is able to provide necessary and meaningful information to make intelligent decision

for promoting employee’s job satisfaction level (Lambert et al., 2001). Job satisfaction has been

defined as a set of favorable or unfavorable feeling with which employees view their work. The

feeling is very much associated with elements such as attitude and behavioral intentions which

can help managers to understand employee relations to their jobs and to predict the effect on

future behavior (Garman et al., 2003). Other theories assume that the interaction of variables

such as task characteristics, organizational characteristics and individual characteristics that

influences job satisfaction (Hoy &Miskel, 1996) which will ultimately affect the quality of

service rendered (Fitzgerald et al. 1994) Job satisfaction theories are categorized into content and

process theories (Gruenberg, 1979). Factors influencing job satisfaction were examined by the

content theory such as the Maslow Hierarchical of Needs (1954),

Herzberg’s Two Factors Theory (1959), and the Existence, Relatedness and Growth theory

by Alderfer (1969). The Herzberg Theory is concerned with two separate sets of condition which

are satisfier or motivator, and dissatisfied or hygiene factors which are incapable of providing

motivation or satisfaction. Satisfier includes the work itself, responsibility achievement,

recognition, advancement and growth while dis-satisfier includes working position, interpersonal

relationship, salary, status, job security, supervision, company policy and personal life (Herzberg

et al., 1959). The process theory examine the interaction process which job satisfaction derived

between variables such as expectations, needs and values. These include equity theory by Adams

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(1963) which examines the individual beliefs on the fair treatment received by them against their

peers; Vroom’s (1964) theory that suggested alternative behaviours were chosen by people based

on their expectation that a particular behaviour will lead to one or more desired result; and Locke

(1976) which belived that job satisfaction was influenced by employee’s values such as

achievement and sense of success from the job as well as increase in salary, promotion

opportunities and recognition which are non-job related factors. A study by Schermerhorn et al.

(2011) listed four categories of factors affecting job satisfaction including challenging jobs,

equitable reward system including salary and promotional opportunities, good colleagues’

relationships and conducive workingenvironments.

Studies on employee’s job satisfactions are extensively administered especially in the

developed countries. In Malaysia, research was done on job satisfaction from different industrial

sectors including; job satisfaction among woman managers in automobile sector (Santhapparaj et

al., 2005); factors affecting job satisfaction in two automotive industries (Dawal&Taha 2006);

job satisfaction and antecedent of needs among the employees of a leading bank (Lew &Liew,

2006); and factors influencing job satisfaction in two universities byWong and Heng(2009).

Relationship between Working Environment and Job Satisfaction

One of the most important aspects of an individual’s work in a modern organization concerns

the management of communication demands that he or she encounters on the job. Demands can

be characterized as a communication load, which refers to “the rate and complexity of

communication inputs an individual must process in a particular time frame.” Individuals in an

organization can experience communication over-load and communication under- load which

can affect their level of job satisfaction. Communication overload can occur when “an individual

receives too many messages in a short period of time which can result in unprocessed

information or when an individual faces more complex messages that are more difficult to

process.” Due to this process, “given an individual’s style of work and motivation to completea

task, when moreinputs exist than outputs, theindividual perceives a condition of overload which

can be positively or negatively related to job satisfaction. In comparison, communication under

load can occur when messages or inputs are sent below the individual’s ability to process them.”

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According to the ideas of communication over-loadand under-load, if an individual does not

receive enough input on the job oris unsuccessful in processing these inputs, the individual is

more likely to become dissatisfied, aggravated, and unhappywiththeirwork which leads to

alowlevelofjob satisfaction.

Relationship between Relationship with Supervisor and Job Satisfaction

Superior-subordinate communication is an important influence on job satisfaction in the

workplace. The way in which subordinates perceive a supervisor's behavior can positively or

negatively influence job satisfaction. Communication behavior such as facial expression, eye

contact, vocal expression, and body movement is crucial to the superior-subordinaterelationship

(Teven, 2006). Nonverbal messages play a central role in interpersonal interactions with respect

to impression formation, deception, attraction, social influence, and emotional. Nonverbal

immediacy from the supervisor helps to increase interpersonal involvement with their

subordinates impacting job satisfaction. The manner in which supervisors communicate with

their subordinates non-verbally may be more important than the verbal content (Teven, 2006).

Individuals who dislike and think negatively about their supervisor are less willing to

communicate or have motivation to work whereas individuals who like and think positively of

their supervisor are more likely to communicate and are satisfied with their job and work

environment. A supervisor who uses nonverbal immediacy, friendliness, and open

communication lines is more likely to receive positive feedback and high job satisfaction from a

subordinate. Conversely, a supervisor who is antisocial, unfriendly, and unwilling to

communicate will naturallyreceive negative feedback and create lowjob satisfaction in

theirsubordinates in theworkplace.

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Relationship between Financial Reward and Job Satisfaction

Previous researches showed that rewards are strong determinant of job satisfaction. For

instance, Gerald and Dorothee (2004) found that rewards are significantly related to

professionalism and job satisfaction. They supported the argument that job satisfaction for

professionals is derived in part from what professional perceives from job. Job satisfaction is

influenced by job rewards (Clifford, 1985). Rewards can be derived both in intrinsic and

extrinsic forms (Rehman et al., 2010). Kalleberg, (1977) argued that rewards related to financial

part are more significantly related to job satisfaction. According to comparison processes theory

an individual is said to have some reference standard against which a job is judged (Walker,

1980). These references are determined largely by a person’s internal motivation drivers. The

size and direction of the difference between the employed standard and the actual situation

determines the level of job satisfaction experienced. An employee motivated by monetary reward

may, for example, derive considerable satisfaction from a job that pays morethanaprevious job,

orasimilarpositiontheperson compares it to.

Financial Rewards Provided by The City Bank Limited to the Employees

All The City Bank Limited employees receive competitive salary packages. The contractual

employees also enjoy competitive base pay. On overthat, iftheemployees can meet more than

60%ofthetarget given bythebanktheyareeligibleforextragettingfringebenefits form thebank.Full-

timeassociates earn generous salaryoptions. Provident Fund benefits are given to the

employeesofthebank as pertheruleofthebank. The employeesarealsoeligibleforthegratuityfund.

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CONCEPTUAL FRAMEWORK

On the basis of the literature review the conceptual framework has been developed isgiven below

RESEARCH QUESTIONS

1. Is there any significant relationship between working environment and jobsatisfaction?

2. Is there any significant relationship between relationship with supervisor and jobsatisfaction?

3. Is there any significant relationship between financial reward and job satisfaction?

RESEARCH HYPOTHESES

H1: There is a significant relationship between working environment and job satisfaction.

H2: There is a significant relationship between relationship with supervisor and jobsatisfaction.

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H3: There is a significant relationship between financial reward and job satisfaction.

RESEARCHMETHODOLOGY

The Research Design

The conceptual framework of the proposed study depicts the name of research variables and

relationship within them. Therefore, through the research the researchers tried to measure there

lationshipsamong thevariables.The present study investigates the relationship between “Working environment”, “Relationship with supervisor” and “Financial reward” with “Job satisfaction”. The research is a co-relation study because, study that shows relationship between two or more variables is known as co-relational study. For this reason a co-relational research design has been selected in order to come across with the appropriate answers to the research questions and to test the hypotheses. In this concerning study, “Working environment”, “Relationship with supervisor” and “Financial reward” considered as independent variables and “Job satisfaction” is being considered as a dependent variable. The researchers applied a co relational study to establish the existence of relationships between the measured variables. The aim of the researchers in this study is to identify whether there is any relationship exists between the measured variables or not

Sampling

According to Cooper and Schindler (2003), samples which are unrestricted, economical, and

easiest to conduct, is considered as non-probability convenience sampling. Due to time constrain

the convenience sampling was selected for this study, although it was the least reliable sampling

method. The sampling frame for this study was Random employee of “The city bank ltd” age

between 15 -46+. Sample size is 35.

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Instrument

The researcher requires primary data to investigate the research problem. To collect data

from the primary sources, the researcher used questionnaire method. The rationale behind using

questionnaire to collect data is:

I) Filling up a questionnaire doesn’t take that much of time so this increases the respondent’s

willingness to provide more accurate data.ii)Respondents secrecy can be strictly maintained.iii) It is easy to quantify all the data from the questionnaire for quantitative analysis. Therefore, questionnaire is the most useful method to collect data for this study

DATACOLLECTION

Due to lack of secondary data on this context, the researchers would require primary data to

examine the research problem and verify hypothesis. To collect data from the primary sources,

the researchers will use questionnaire method. Frequent reasons accounted for the choice of this

research method. Firstly, it allows large amounts of information to be obtained at relatively low

cost and secondly more accurate responses are obtained because interviewer bias is avoided.

Researcher will ignore telephone survey and online survey because the possibilities of getting

response from the participants are very low through this two survey methods.

The research object of this study focused on employees of “The City Bank Limited”

regarding their job satisfaction. To obtain the results of the competing models, this study

undertook sampling questionnaires. Each respondent was randomly selected. 35 questionnaires

were being distributed among the employees and 35 valid questionnaires were being returned.

The response rate of the study was high because of personal interview and acceptable for the

type of questionnaire survey method in the academic field of management.

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MEASUREMENT

This study used ‘five-point Liker scale from 1 to 5 rating from strongly disagreement to

strongly agreement to measure the questionnaire items. ‘Five-point Liker scale measures’ are

common and acceptable for this type of questionnaire survey method in the academic

management field. There are many previous papers that used the ‘five-point Liker scale measure’

(Jahangir, Akbar, & Begum, 2006; Shin & Zhou, 2003; Hickman & Oldham, 1980). The

questionnaire contained only four novels constructs (variables): Working environment,

Relationship with supervisor, Financial reward and Job satisfaction. In addition, the

questionnaires contained the items to ask the key characteristics of respondents which include:

age and gender.

DATA ANALYSIS

To examine whether any relationship exists or not between the independent and the

dependent variables, Pearson’s Correlation analysis and stepwise regression analysis have been

used. For implementing all of these tasks, statistical software was being used. The name of this

software is Statistical Package for Social Science(SPSS), version 13.0.

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Frequency Analysis

The Frequency analysis tracks down the respondents personnel characteristics. Among 35

respondents, 24 were maleand 11 were female. They were with in the age group of(15-35).TableI: Gender –Age Cross Tabulation

Gender

Age

Total15-25 26-35

Male 8 16 24

Female 3 8 11

Total 11 24 35

Reliability Analysis

The most highly recommended measure of consistency of the survey result on repeat test.

Provided by coefficient alpha (α) or Cranach’s alpha as it provides a good reliability estimate in

most situations .The nearer the value of alpha(α)to 1, the better there liability.

TableII: ReliabilityAnalysis of the Variables

Scales Number of items Alpha (α)

Working Environment 3 0.682

Relationship with Supervisor 3 0.769

Financial Reward 3 0.854

Job Satisfaction 3 0.624

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Nunnally (1978) suggested that for early stages of any research the reliability of .50-.60 is

sufficient. The reliabilities of all the constructs in this study are found to be above the standard

set biannually(1978).

Descriptive Statistics

The results of Descriptive Statistics of Working environment, Relationship with supervisor,

Financial reward and Job satisfaction are given below-

Table III: Descriptive Statistics of the Variables

Mean Std. Deviation

Working Environment 4.1333 0.73742

Relationship with Supervisor 3.8571 0.83347

Financial Reward 3.8571 0.89766

Job Satisfaction 3.8762 0.82875

Mean scores have been computed by equally weighting the mean scores of all the items. On

a five-point scale, the mean score for working environment is found to be 4.13 (sd = 0.73). It

suggests that the working environment of this bank is good. The mean score for relationship with

supervisor is found to be 3.85 (sd = 0.83). It suggests that the supervisors of this bank maintain

good relationship with their subordinates. The mean score for financial reward is 3.85 (sd = 0.89)

indicating that this bank is providing financial rewards the its employees. The mean score for job

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satisfaction is found to be 3.87 (sd = 0.82). It implies that the employee care satisfied with their

jobs.

Correlation Analysis

Correlation analysis was conducted on all variables to identifying the relationship among the

measured variables. In interpreting the strength of relationships between variables, the guidelines

Suggested by Rowntree (1981) were followed his classification of the correlation coefficient (r)is

as follows:

Employee Job Satisfaction of The CityBank Limited – A study on RFC Collection

0.0 to 0.2 Very weak, negligible

0.2 to 0.4 Weak, low

0.4 to 0.7 Moderate

0.7 to 0.9 Strong, high marked

0.9 to 1.0 Very strong, very high

The vicariate correlation procedure was subjected to a two tailed test of statistical

significance at two different levels highly significant (p<.001) and significant (p<.01) or (p<.05).

Below Table shows the correlation matrix of the measured variables.

Table IV: Correlation Analysis between the Independent and Dependent Variables

Working Relationship with Financial JobEnvironment Supervisor Reward Satisfaction

Working - 0.760** 0.726** 0.648**

EnvironmentRelationship - 0.754** 0.589**

with SupervisorFinancial - 0.779**

RewardJob Satisfaction -

Note: **p <.01

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Correlation analysis for all the variables is shown in Table. It examines the correlation among “Working environment”, “Relationship with supervisor”, “Financial reward” and “Job satisfaction”. All of the independent variables (Working environment, Relationship with supervisor, Financial reward) are found significantly and positively correlated with the dependent variable, working environment with job satisfaction (r = 0.64, p< .01); relationship with supervisor with job satisfaction (r = 0.59, p< .01); and financial reward with job satisfaction (r = 0.78, p< .01). It also implies that the natures of the relationship among working environment and relationship with supervisor with the dependent variable are moderate where as financial reward is found to be strongly related with job satisfaction

Table V: Stepwise Regression on Job Satisfaction

Variable B SEB β R2Step 1Financial Reward 0.720 0.101 .779*** 0.607Note-***p<.001

Table V depicts that in financial reward (p <.001) is statistically significantly related to job

satisfaction. Working environment and relationship with supervisor fail to enter into the

regression equation, which indicates they don’t have significant influence on job satisfaction like

financial reward has. These results provide a partial support for hypothesis. It also suggests that

the independent variable, financial reward explained 60% of the variance in job satisfaction.

ASSESSMENT OF THE HYPOTHESES

Hypothesis 1

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H1: There is a significant relationship between working environment and job satisfaction. The

result of the correlation analysis depicts that the working environment of The City Bank Limited

is significantly and positively correlated with job satisfaction (r =0.64, p<.01). Where as the

result of stepwise regression suggests that this independent variable is not significantly

associated with the dependent variable. The result of stepwise regression analysis does not

support hypothesis 1. Therefore, the hypothesis is found to be partially

supported.

Hypothesis 2

H2: There is a significant relationship between relationship with supervisor and job satisfaction.

The result of the correlation analysis implies that the relationship with supervisor is

significantly and positively correlated with job satisfaction (r = 0.59, p< .01) but the variable

fails to enter into the regression equation which concludes that it is not significantly associated

with job satisfaction. Therefore, the hypothesis is also found to be partially supported.

Employee Job Satisfaction of The City Bank Limited – A study on RFC Collection

Hypothesis 3

H3: There is a significant relationship between financial reward and job satisfaction. The result

of the correlation analysis depicts that financial reward is significantly andpositively correlated with job satisfaction (r=0.78, p<.01).

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The result of stepwise regression also implies that this independent variable is statistically

and significantly related to job satisfaction. Among all the independent variables, this variable

alone explains 60% of the variance in job satisfaction. Therefore, this hypothesis is found to be

fully supported .

RECOMMENDATION AND CONCLUSION

After analyzing the results, H3 of this study is found to be sustained as significant relationship is found between financial reward and job satisfaction. It means that the City Bank Limited employees are more concerned with what the job is actually paying to them. Some previous study (Kalleberg, 1977; Rehman et al., 2010) also came up with same findings which support the results too. The City Bank Limited has very attractive salary package, fringe benefits, provisional fund and others for retired workers. So, these factors result the high relationship between financial reward and job satisfaction. Although all the variables have impact on job satisfaction, financial reward has more importance to the employees. Since, the employees of this bank are more concerned about the financial reward; the issues should be taken more care of by the top management

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