Measuring Employee Satisfaction at Bangladesh Bank

Bangladesh Bank, the central bank and apex regulatory body for the country's monetary and financial system, was established in Dhaka as a body corporate vides the Bangladesh Bank Order, 1972 with effect from 16th December, 1971.

Banking is one of the most competitive industries of Bangladesh that has seen a huge amount of growth during the last decade. A large number of new banks have made their places in the industry. In such a highly competitive service industry, the importance of employee satisfaction is of utmost importance.

This report is divided into two parts. One part consists of the overview of Bangladesh Bank The second part of the report consists of the research part. To conduct the necessary research about the project a parameter (satisfaction) was set up. Then it was divided down to some complex variables which were later divided further into simple variables. Based on these variables, a structured questionnaire was formed and surveys of a total number of 120 employees of Bangladesh Bank were taken. A non-probability sampling technique was applied and a combination of convenience and snowball sampling method was used. Data was analyzed in SPSS using several data analysis techniques, such as index analysis, t-test, correlations, regression etc. In-depth interviews were also conducted.

The main purpose of this report is to find out the satisfaction level of the employees at Bangladesh Bank. From the survey, using index analysis, it was found that the employees were satisfied with their jobs overall. Employees believed Bangladesh Bank has more flexible work hours, better work environment, more systematic promotion policy, training benefits and a permanent job security compared to private banks.

Cross-tabulation of various results was also done, and it was found that for almost all age groups, the fact that there are non-monetary things that matter in a service is the factor most responsible for their satisfaction. A greater percentage of older age groups associated the bank with their identity than younger ones. On the other hand, a greater percentage of males than females loved their job because they believed there are other non-monetary factors important than satisfaction, while a greater percentage of females associated the job as their identity and felt privileged to be a part of the bank. For almost all positions, the greatest percentage loved their job due to non-monetary factors. As for treating the job as identity, a greater percentage of employees holding positions of DGM or above than any other position holder valued the job as their identity.

So overall employees at Bangladesh Bank are satisfied with their jobs, but Bangladesh Bank must take into consideration the factors mostly responsible for employee motivation and keep nurturing those in the organizational culture. Promotion should be based on leadership and merit, and not solely on seniority. In this way, Bangladesh Bank can further boost employee morale.
by-Farha Farzana