Job Satisfaction of the Employees of the General Insurance Companies in Bangladesh

Abstract

This study investigates the employees' job satisfaction of general insurance companies in Bangladesh. A questionnaire was utilized to collect primary data from both public and private general insurance companies. The first part of the questionnaire comprises of the demographic profile of the respondents and the last part indicates the key measuring variables on a Likert scale ranging from 5 (strongly agree) to 1 (strongly disagree) of job satisfaction. The total number of respondents for this study was 385. 74.80 percent of the total respondents have taken from the private general insurance companies, and the remaining percentage from the public general insurance company. 70 percent of the total respondents were male respondents, and 30 percent of the total respondents were female respondents. Factor analysis and correlation matrix have been conducted to analyze the collected data. This study postulates that employees of general insurance companies have positive as well as negative feelings. Three factors reflect positive feelings toward their jobs. These factors are pay and promotional potential, the well-organized chain of command and general working condition. On the other hand, two factors are responsible for negative feelings. These factors are poor team spirit and poor job security. This paper also advocates some recommendations to maximize the positive feelings and to minimize the negative. The proper higher authority should ensure participating decision method to take any decision, the fair delegation, and direct relationship with sub-ordinates to enhance the team spirit for minimizing the dissatisfaction of the employees and should ensure the job security of the employees to get their best effort to achieve the organizational goal.

Relationship between Socio-Demographic Characteristics and Job Satisfaction: Evidence from Private Bank Employees

“…Ahmed (2015) revealed that recruitment & selection, training & development, salary & benefits, and reward have a positive effect on employees' job satisfaction whereas supervisory role and job security have an adverse effect. Uddin et al (2016) conducted a study on the employees of the general insurance companies in Bangladesh and found that pay and promotional potential, well-organized chain of command and general working condition have positive relationship with job satisfaction where poor team spirit and poor job security have negative relation.…”

The Power of Compensation System (CS) on Employee Satisfaction (ES): The Mediating Role of Employee Motivation (EM)

“…One of the most complicated topics, job satisfaction, includes a wide range of emotions and circumstances. Job satisfaction at work is influenced by compensation, motivation, an efficient chain of command, and general working circumstances (Uddin et al 2016;Bilge et al 2021). Employee work happiness is affected by wages, benefits, and motivation since they are frequently cited as two of the top three elements affecting employee job satisfaction (Society for Human Resource Management 2012).…”

Effect of Training and Empowerment in Improving Job Satisfaction

“…There are few studies about the factors that affect job satisfaction among them is the pay, promotion, work environment, team spirit, job security, corporate image, and supervisor's expertise, collaborative, professional development, job rotation, communication effectiveness, leadership, motivation, training and empowerment [20], [21], [22], which are done then taken several solutions for improving job satisfaction of employees with training, and empowerment.…”