Employee Engagement Practices in Banking of Bangladesh: An Analysis and Evaluation of Critical Success Factors

Abstract

This paper focuses on the factors that are inextricably related to the employee engagement process. The study has scrutinized the factors, which are more potent on employee engagement regarding the banking sector in Bangladesh. Some components, for instance, performance management system, goals, leadership, have outplayed the other factors and acted as a mediator to the employee performance enhancement. Data was collected from the 120 full-time employees from 14 banks in Mymensingh and around that district by the survey method. The Principal Component Analysis (PCA) and Factor Extraction have been executed to find the successful factors; the study shows that there are some latent factors, and by selecting the significant factors, employee engagement can be enhanced more effectively. On that note, the examination of eight success factors led to make a cluster into three major components. Consequently, the first component has been labelled as a performance management agreement that consists of a performance management system and leadership agreement, the second component as an awareness of goals and objectives which comprises of the plan and, the final component as a leadership role on an understanding job that subsumes leadership roles. In addition to that, data has collected from diverse groups and locations followed by convenient sampling and, sometimes responses were oblique because respondents felt intimidated by supervisor reaction about discriminated leadership style. The results depict that success factors are influencing the employee engagement process and also suggests that management should focus on the elements to get the best outcome of performance management.

Continuous service-based process monitoring using Pareto analysis and start-end case diagram

“…12-19), organizations announced that increasing employees' motivation, adjusting employees' goals with organizational targets, resource allocation, fair and accurate feedback, and maximizing achievements are reasons to assess their process performance. Furthermore, recent research has validated this outcome, demonstrating the critical importance of goals and leadership in enhancing employee performance and managing performance effectively (Shumi and Begum, 2021). As illustrated, the main idea for process assessment is buried beneath the motivation of resources, while customer satisfaction is a crucial factor that should be taken into consideration as a performance measure (Armstrong, 2006).…”