| Title : | Reward management, employee job satisfaction and profitability in Nepalese commercial banks | | Material Type: | printed text | | Authors: | Alina Uday, Author | | Publication Date: | 2019 | | Pagination: | 145p. | | Size: | GRP/Thesis | | Accompanying material: | 14/B | | Languages : | English | | Abstract: | Reward and their influence are becoming an issue of concern for all. Therefore, effective reward management deals with setting processes, policies and strategies. Such practices are required to ensure that the contribution of employees to the business is recognized by those responsible for the running of the organization. Reward is defined as all of the monetary, non-monetary, and psychological payments that an organization provides for its employees. Reward management has gained increased importance especially in the current dynamic and competitive environment. This is because it enables organizations to recruit and maintain employees as well as to increase organizational productivity. Employee satisfaction is an important variable that is able to give an opinion about general emotion and thinking forms of employees about their job and workplace. Thus, employee satisfaction refers to expectations of the employee about the workplace and his attitudes forward his job. Thus, job satisfaction is a function of the extent to which one's needs are satisfied in a job. In many cases, rewards management is closely related to motivation theories and job satisfaction. The term of job satisfaction has become a very significant one, now that managers seek for practices which are likely to make people more satisfied and therefore, more productive. Though several papers within the latest literature, it is easy to understand that job satisfaction is quite difficult to measure while it is considered as major determinant of organizational performance.
The study is based on both primary and secondary data which were gathered with 208 respondents and 2017/18 annual report of 19 commercial banks. The respondent’s views were collected through questionnaire on employee job satisfaction, promotion, compensation, development and training opportunities, recognition, employee empowerment. This study has employed descriptive research design and causal comparative research design to deal with issues associated with reward management on employee job satisfaction and profitability of Nepalese commercial banks.
The mean value of the statements of promotion ranges from 2.2 to 5.00. Among them, the most significant observation is “promotion is based on performance evaluation of employees.” The weighted average mean for promotion is 3.73. Similarly, the mean value of the statements of compensation ranges from 1.60 to 5.00. Among them, the most significant observation is “my bank has satisfactory salary level in relation to the nature of job.” The weighted average mean for compensation is 3.82. Likewise, the mean value of the statements of development and training opportunities ranges from 2.20 to 5.00. Among them, the most significant observation is “the training conducted in my bank uses up-to-date equipment, facilities and materials.” the weighted average mean for development and training opportunities is 3.77. Likewise, the mean value of the statements of recognition ranges from 2.00 to 4.80. Among them, the most significant observation is “executive management actively supports and participates in the recognition process.” The weighted average mean for recognition practices is 3.72. Similarly, the mean value of the statements of employee empowerment ranges from 1.80 to 4.80. Among them, the most significant observation is “I have the authority to correct customer problems when they occur.” the weighted average mean for communication is 3.75.
The result shows that promotion is positively correlated to employee job satisfaction and return on assets. It indicates that better the promotion practices, higher would be the employee job satisfaction and return on assets. Similarly, the study reveals that compensation is positively correlated to employee job satisfaction and return on assets. It indicates that higher the level of compensation, higher would be the employee job satisfaction and return on assets. Likewise, the result shows that development and training opportunities are positively correlated to employee job satisfaction. It shows that effective and timely development and training opportunities, higher would be the employee job satisfaction and return on assets. Similarly, recognition is also positively correlated to employee job satisfaction and return on assets. It states that better the recognition higher would be the employee job satisfaction and return on assets. In addition, the result shows that employee empowerment is also positively correlated to employee job satisfaction and return on assets. It indicates that higher employee empowerment practices, higher would be the employee job satisfaction and return on assets in Nepalese commercial banks.
The result shows that beta coefficients for promotion are positive and significant with employee job satisfaction and return on assets. It indicates that promotion has a positive impact on employee job satisfaction and return on assets. Similarly, the result reveals that beta coefficient for compensation in reward management is positive with employees’ job satisfaction and return on assets. It indicates that compensation have positive impact on employees’ job satisfaction and return on assets. Furthermore, the beta coefficients for development and training opportunities are positive with employee job satisfaction and return on assets. It indicates that development and training opportunities has a positive impact on employee job satisfaction and return on assets. Similarly, the result reveals that beta coefficients recognition is positive and significant with employee job satisfaction and return on assets. It indicates that recognition has a positive impact on employee job satisfaction and return on assets. Likewise, the beta coefficient for employee empowerment is positive with employee job satisfaction and return on assets. It indicates that employee empowerment has a positive impact on employee job satisfaction and return on assets.
Recommendations are given on the basis of the findings of the study. The major conclusion of the study is that promotion, compensation, recognition, development and training opportunities and employee empowerment have positive impact on employee job satisfaction and profitability in Nepalese commercial banks. It indicates that higher the promotion, compensation, recognition, development and training opportunities and employee empowerment higher would be employee job satisfaction and profitability. The study also concludes that the most influencing factor of reward management for employee job satisfaction are compensation and promotion in Nepalese commercial banks.
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Reward management, employee job satisfaction and profitability in Nepalese commercial banks [printed text] / Alina Uday, Author . - 2019 . - 145p. ; GRP/Thesis + 14/B. Languages : English | Abstract: | Reward and their influence are becoming an issue of concern for all. Therefore, effective reward management deals with setting processes, policies and strategies. Such practices are required to ensure that the contribution of employees to the business is recognized by those responsible for the running of the organization. Reward is defined as all of the monetary, non-monetary, and psychological payments that an organization provides for its employees. Reward management has gained increased importance especially in the current dynamic and competitive environment. This is because it enables organizations to recruit and maintain employees as well as to increase organizational productivity. Employee satisfaction is an important variable that is able to give an opinion about general emotion and thinking forms of employees about their job and workplace. Thus, employee satisfaction refers to expectations of the employee about the workplace and his attitudes forward his job. Thus, job satisfaction is a function of the extent to which one's needs are satisfied in a job. In many cases, rewards management is closely related to motivation theories and job satisfaction. The term of job satisfaction has become a very significant one, now that managers seek for practices which are likely to make people more satisfied and therefore, more productive. Though several papers within the latest literature, it is easy to understand that job satisfaction is quite difficult to measure while it is considered as major determinant of organizational performance.
The study is based on both primary and secondary data which were gathered with 208 respondents and 2017/18 annual report of 19 commercial banks. The respondent’s views were collected through questionnaire on employee job satisfaction, promotion, compensation, development and training opportunities, recognition, employee empowerment. This study has employed descriptive research design and causal comparative research design to deal with issues associated with reward management on employee job satisfaction and profitability of Nepalese commercial banks.
The mean value of the statements of promotion ranges from 2.2 to 5.00. Among them, the most significant observation is “promotion is based on performance evaluation of employees.” The weighted average mean for promotion is 3.73. Similarly, the mean value of the statements of compensation ranges from 1.60 to 5.00. Among them, the most significant observation is “my bank has satisfactory salary level in relation to the nature of job.” The weighted average mean for compensation is 3.82. Likewise, the mean value of the statements of development and training opportunities ranges from 2.20 to 5.00. Among them, the most significant observation is “the training conducted in my bank uses up-to-date equipment, facilities and materials.” the weighted average mean for development and training opportunities is 3.77. Likewise, the mean value of the statements of recognition ranges from 2.00 to 4.80. Among them, the most significant observation is “executive management actively supports and participates in the recognition process.” The weighted average mean for recognition practices is 3.72. Similarly, the mean value of the statements of employee empowerment ranges from 1.80 to 4.80. Among them, the most significant observation is “I have the authority to correct customer problems when they occur.” the weighted average mean for communication is 3.75.
The result shows that promotion is positively correlated to employee job satisfaction and return on assets. It indicates that better the promotion practices, higher would be the employee job satisfaction and return on assets. Similarly, the study reveals that compensation is positively correlated to employee job satisfaction and return on assets. It indicates that higher the level of compensation, higher would be the employee job satisfaction and return on assets. Likewise, the result shows that development and training opportunities are positively correlated to employee job satisfaction. It shows that effective and timely development and training opportunities, higher would be the employee job satisfaction and return on assets. Similarly, recognition is also positively correlated to employee job satisfaction and return on assets. It states that better the recognition higher would be the employee job satisfaction and return on assets. In addition, the result shows that employee empowerment is also positively correlated to employee job satisfaction and return on assets. It indicates that higher employee empowerment practices, higher would be the employee job satisfaction and return on assets in Nepalese commercial banks.
The result shows that beta coefficients for promotion are positive and significant with employee job satisfaction and return on assets. It indicates that promotion has a positive impact on employee job satisfaction and return on assets. Similarly, the result reveals that beta coefficient for compensation in reward management is positive with employees’ job satisfaction and return on assets. It indicates that compensation have positive impact on employees’ job satisfaction and return on assets. Furthermore, the beta coefficients for development and training opportunities are positive with employee job satisfaction and return on assets. It indicates that development and training opportunities has a positive impact on employee job satisfaction and return on assets. Similarly, the result reveals that beta coefficients recognition is positive and significant with employee job satisfaction and return on assets. It indicates that recognition has a positive impact on employee job satisfaction and return on assets. Likewise, the beta coefficient for employee empowerment is positive with employee job satisfaction and return on assets. It indicates that employee empowerment has a positive impact on employee job satisfaction and return on assets.
Recommendations are given on the basis of the findings of the study. The major conclusion of the study is that promotion, compensation, recognition, development and training opportunities and employee empowerment have positive impact on employee job satisfaction and profitability in Nepalese commercial banks. It indicates that higher the promotion, compensation, recognition, development and training opportunities and employee empowerment higher would be employee job satisfaction and profitability. The study also concludes that the most influencing factor of reward management for employee job satisfaction are compensation and promotion in Nepalese commercial banks.
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