FACTORS INFLUENCII\G ON EMPLOYEE JOB SATISFACTION TN STATE AI\D PRIVATE SECTOR BANKS IN HAMBANTOTA DISTRICT

Abstract

This study investigates the factors influencing employee job satisfaction in state and private sector banks in Hambantota District, Sri Lanka. A quantitative research method with a deductive approach and a survey strategy was employed to achieve the research objectives. Data were collected using a structured questionnaire from a sample of 210 bank employees selected through stratified sampling method. The findings revealed high levels of agreement among the respondents regarding compensation policy, workplace environment, employee empowerment, performance appraisal process, and employee job satisfaction. Correlation analysis showed strong to very strong positive relationships between the independent variables and employee job satisfaction, while multiple regression analysis confirmed the significant positive effects of these factors on job satisfaction. The study contributes to the existing body of knowledge on employee job satisfaction in the banking sector and has important implications for bank managers and policymakers in designing and implementing strategies to enhance employee well-being and organizational performance. By focusing on improving compensation policies, creating positive work environments, empowering employees, and implementing fair performance appraisal processes, banks in Hambantota District can promote higher levels of job satisfaction among their employees, leading to better retention, productivity, and customer satisfaction. The limitations of the study, such as sample size and the focus on a specific set of factors, should be considered when interpreting and applying the findings. Future research could address these limitations by employing larger and more diverse samples, using longitudinal designs, and exploring a broader range of factors that may influence employee job satisfaction in the banking sector.