CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Satisfied employees are the major element to the success of banking sector in any country of the world. Public or Private sector banks and the employees have long been concerned with the constructs of job satisfaction and its impact on job performance, because this variable has strong influence on the overall performance of banks. Thomas Wright (2009) has found that when employees have high levels of psychological well-being and job satisfaction, they perform better and are less likely to leave their jobs. Satisfied employees are not only good and effective performers but also efficient ambassadors of their banks. They may bring heavy deposits and well-reputed customers to their bank while unsatisfied employees may not. Only satisfied employees are loyal to bank and may attract the outside business to their bank.
Job satisfaction of employees plays a very vital role on the performance of an organization. It is essential to know as to how employees can be retained through making them satisfied and motivated to achieve extraordinary results. Target and achievement depends on employee satisfaction and in turn contribute for organizational success and growth, enhances the productivity, and increases the quality of work.
It is indispensable for an organization to exactly feel as to what employees feel, think, and wish and to discover and make strategies that how the staff dedication and commitment can be improved. Through this initiative business outcomes can be improved, productivity can be enhanced, commitment can get strengthened. Increasing staff satisfaction is very vital and important factor for the success of an organization.
The purpose of this research study is to observe the relationship between employee’s job satisfaction and organizational performance. It will be based on different theories of human resources. These theories will indicate the extent to which the employee will be satisfied. There is a cause and effect relationship between the employee’s job satisfaction and organizational performance. Employee’s satisfaction is a cause and the effect will be “how the organizational performance fosters”.
1.2 Statement Of The Problem
Workers leave organization due to lack of job satisfaction and the fact that they are not motivated enough. Some are not willing to leave because they are satisfied and are enjoying some benefit in terms of promotion, which leads to increase in salaries and wages, bonus and some other incentives. It’s very important to find out how the efforts made by banks to raise their workers job satisfaction practically work, and the extent banks are successful in satisfying their workers for their pay packages, job security and reward system as well as how employees’ job satisfaction influence their job performance? It is indispensable for an organization to exactly feel as to what employees feel, think, and wish and to discover and make strategies that how the staff dedication and commitment can be improved. Through this initiative business outcomes can be improved, productivity can be enhanced, commitment can get strengthened. Increasing staff satisfaction is very vital and important factor for the success of an organization.
1.3 Research Questions
This study is conducted to find out the answers of the following questions:
- Is there a positive relationship between the job satisfaction and organization performance?
- What is the extent of the influence of different factors like staff experience, age and sex on job satisfaction of employees and organizational policies affecting on staff satisfaction in Union Bank Nigeria Plc.?
- Do employees derive job satisfaction from extrinsic job rewards or from intrinsic job rewards in Union Bank Nigeria Plc.?
1.4 Purpose Of The Study
The general purpose of this study is to determine the impact of employee job satisfaction on organizational performance. The specific objectives include the following:
- To determine whether there is a positive relationship between the job satisfaction and organization performance.
- To identify the extent of the influence of different factors like staff experience, age and sex on job satisfaction of employees and organizational policies affecting on staff satisfaction in Union Bank Nigeria Plc.
- To find out whether the employees derive job satisfaction from extrinsic job rewards or from intrinsic job rewards in Union Bank Nigeria Plc.
1.5 Hypothesis
- Ho: There are no positive relationship between the job satisfaction and organization performance.
- Hi: There are positive relationship between the job satisfaction and organization performance.
- Ho: Employees derive job satisfaction from extrinsic job rewards or from intrinsic job rewards in Union Bank Nigeria Plc..
- Hi: Employees doesn’t derive job satisfaction from extrinsic job rewards or from intrinsic job rewards in Union Bank Nigeria Plc..
1.5 Significance of Study
The findings from this study will help to highlight those areas where there are problems among staff and thus will be of great benefit to the management of organizations and policy makers. The results of this study would hopefully be significant in the sense that it would enable both the management and the labour union to better understand how the various incentive packages could be harnessed to inspire staff to increase and sustain productivity.
The findings from this study would help to further highlight the likely problems of frustrations and how motivation can be used to either reduce or eliminate these problems amongst staff of Union Bank Nigeria Plc.
1.6 Scope of the Study
The relationship between Union Bank Nigeria Plc. and its employees is governed by what motivates them to work and the fulfilments they derive from it. The manager needs to understand how to elicit the cooperation of staff and direct their performance to achieving the goals and objectives of the Bank. This study is delimited to Union Bank Nigeria Plc. The work force to be covered within the context of the project will include contract, permanent and management staff. This study is further delimited in terms of the organizational sub-sets of familiarity, concern and driving force as well as approach to work.
1.7 Limitation of the Study
A major limitation to research work in this part of the country is the inability of the researcher to get the necessary information which could have made the work richer, some necessary facts were not obtained due to the unwillingness of the respondents to give out rich information so the researcher resorted to getting the little he could from the staff of Union Bank Nigeria Plc. Also, due to lack of culture of proper record keeping, only very limited data were gotten by the researcher for this work.
Finance was a major constrain as the research could not afford the money for transportation and gathering of other materials for the project work.
Time posed its own limitation as the researcher was conducting the research and also taking care of her other academic issues.
However, inspite of all these limitations and other constraints which may not be mentioned here, it does not in any way affect the reliability of the research work for the purpose of reference and its usage.
1.8 Definition of Terms
Employee: This is an individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties.
Job satisfaction: This is simply how content an individual is with his / 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. It a pleasurable emotional state resulting from the appraisal of one’s job or job experiences.
Organization: This is a social unit of people that is structured and managed to meet a need or to pursue collective goals. All organization have a management structure that determines relationships between the different activities and the members, and subdivides and assigns roles, responsibilities, authority to carry out different tasks.
Organizational Performance: This comprises the actual output or results of an organization as measured against its intended outputs (goals and objectives).
Job Performance: Job performance has been defined as the value an organization can expect from discrete behaviors performed by an employee over time.
1.9 Organization of the Study
Chapter one of the study introduced the problem statement and described the purpose and importance of the study. Chapter two present a review of literature and relevant research associated with the problem addressed in the study. Chapter three presents the methodology and procedure used for data collection and analysis. Chapter four contains analyses of the data and presentation of the result. Chapter five offers a summary and discussion of the research findings, implication for practice and recommendation for further research.
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