0830004

A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD.
BANGLADESH
by Syeeda Nadia Taskin ID#0830004
An Internship Report Presented in Partial Fulfillment of the Requirement for the Degree Bachelor of Business Administration
Independent University, Bangladesh

November, 2012
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD. BANGLADESH
by Syeeda Nadia Taskin ID#0830004
has been Approved September 2012
--------------------------------Monzoor Morshed
School of Business Independent University, Bangladesh
LETTER OF TRANSMITTAL
Mr. Monzoor Morshed Lecturer School of Business Independent University Bangladesh Sub: Submission of the Internship Report Dear Sir In this advanced working report on job satisfaction in United Commercial Bank, I have tried to implement my academic experiences in the practical field with due sincerity and would like to thank you for your cooperation. Despite many limitations I have tried my level best to address the major and in depth issues in making this paper accurate and reliable. If you have any further enquiry concerning any additional information I would be very pleased to clarify that. I, therefore, hope that you will be kind enough to accept this report as fulfillment of the requirement for the course BBA-499.
Thanking you Sincerely yours
Syeeda Nadia Taskin ID#0830004
ACKNOWLEDGEMENT
At the very beginning, I would like to express my deep gratitude to almighty Allah for giving
me the strength to finish the project within the schedule time. Preparing an internship report is copious task. I required enormous time and attention in every step of it. However, it gives me a true feeling of creation and helps me to understand my ability of work. For fear of sounding like a vote of thanks speech, I would like to take the opportunity, to thank all of those marvelous people who have contributed to this report. Of course, some very special people cannot go without mentioning. At first, I express thank my heartiest gratitude to my Supervisor Mr. Monzoor Morshed, Lecturer of Business School, IUB, for his kind cooperation in preparing this report. I would like to thank Mr Selim Reza Khan, First vice Manager of United commercial Bank Limited, for giving me opportunity to work as an intern. I am grateful to Foreign Exchange department in charge Mr. Asadur Rahman for his supervision and continuous support to do my internship. Without their support it was impossible for me make such report. I am also indebted to all of officers and staffs of UCBL and for giving time and advice to know and learn all activities of the bank and prepare this report. During the preparation of the project work I have came to the very supportive touch of different individuals (respondents & seniors from UCBL) and friends, who lend their ideas, time and caring guidance to amplify the reports contents. To be honest to myself I must say that without their help it would be very hard for me to prepare such report. I am thankful to them with all of my feelings.
EXECUTIVE SUMMARY
United Commercial Bank Limited (UCBL) is one of the first generation private sector Banks in
Bangladesh, commenced its commercial operations from mid 1983 and has since been able to establish one of the largest network of 84 branches in six different districts. United Commercial Bank Ltd. offers all kinds of Commercial Corporate and Personal Banking services covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by our central bank. Diversification of products and services include Corporate Banking, Retail Banking, and Consumer Banking right from industry to agriculture, and real state to software. UCBL Rajshahi branch is one of the branches, which facilitate all kind of facilities that a Bank offers. It has General Banking, Credit Management, as well as Foreign Exchange Department. General Banking is the starting point of all the banking operating. It is the department, which provides day-to-day services to the customers. General Banking consists of the many sections in the branch. These are including customer service, account opening/closing, remittance, deposit department, accounts department. Credit management department provides many facilities like as loan and advance products to the client for financing different purpose that fulfill the requirements of the bank and have good return to the investment as well as satisfy the client. The loan and advance products are personal loan scheme, small & medium enterprise loan, working capital financing, import financing, export financing, syndicate loan, industrial financing etc. Foreign Exchange Department deals with import, export, and foreign remittance and post import financing. This department is playing an important role in enhancing export earnings, which aids economic growth and, in turn, will be helpful for economic development. United Commercial Bank Limited is the preferred choice in banking for friendly and personalized services, tailored solutions for business needs, global reach in trade and commerce and high yield on investments, assuring Excellence in Banking Services.
C0NTENT SE. NO Part One: General Section 1.1 1.2 1.3 1.4 1.5 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 Part Two: Research Section 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 4.1 4.2 4.3 4.4 4.5 TOPIC Chapter One: Introduction Background Objectives Methodology Scope Limitations Chapter Two: Overview of United Commercial Bank History Management Corporate Information at a Glance Vision of the UCBL Mission of the UCBL Organogram of UCBL Products and Services Department of Commercial Bank Chapter Three: Introduction Introduction Statement of the Problem Objectives of the Study Literature Review Significance of the Study Research Question Hypothesis Relative Important Factors Limitation of the Study Chapter Four: Methodology Data Sources and Method Variables and Measures Instrument and Procedure Statistical Tools Analysis of Data Chapter Five: Result and Discussion Recommendation Conclusion PAGE NO. 1-2 1 1 2 2 2 3-19 3 3 3 4 4 5 6 7-19 21-24 21 21 22 22 23 23 24 24 24 25-26 25 25 25 26 26 27-30 30 31
LIST OF TABLES & FIGURES List of Tables Table-1 Table-2 Name of Tables Demographic Characteristic of Respondents General Findings Related to Job Satisfaction Page No. 27 29
List of Figures Fig-1 Fig-2 Fig-3 Fig-4 Fig-5 Fig-6 Fig-7 Fog-8 Fig-9 Fig-10 Fig-11 Fig-12 Fig-13 Fig-14
Name of Figures Organogram of UCBL Dept. of Commercial Bank Cash Insurance Limit Organizational Structure for Credit Operation Credit Administration Flowchart Loan and Advance Continuous Loan Foreign Exchange Department Flow Chart of Important Procedure Foreign Remittance Conceptual framework Relative Important Factors of Job Satisfaction Respondents Working Position Respondents Income Range (Monthly) 5 7 9 11 12 13 13 15 16 19 23 24 28 28
PART: ONE CHAPTER ONE: INTRODUCTION 1.1 Background A commercial bank performs an imperative function in the economy. It helps to mobilize money by a continuous procedure of borrowing and lending money. It accumulates its capital through both own sourcing and out sourcing (depositors are the major part of out sourcing). This amount is then lent to the other party. Being a service industry provides various services to its customers. So, every commercial bank has to think about their customer first, because the customers are the sovereign. This report has been prepared as the partial fulfillment of BBA program in IUB. To complete the BBA program successfully each participants required to undergo internship program in an organization for three months to learn practical knowledge of business activities. To accomplish the aforesaid requirement, I am assigned as an internee in United Commercial Bank Ltd, Rajshahi Branch for 3 months starting from September 17, 2012. 1.2 Objectives The objective of the report is to gather practical knowledge particularly regarding any business organization and its operations. Theoretical classes of Bachelor of Business Administration program provides us knowledge regarding theories and models whereas internship program gives us the chance to view those systems and their operations (based on theories and models) in practice. Apart from this broad objective, we can identify the objectives of this report as follows: Understanding the environment, functions and management of the organization for my case it is UCBL Bank. Narrating experience in working in UCBL To apply theoretical knowledge in the practical filed in order to formulate a problem to work on. Defining and analyzing the problem. To learn about banking more thoroughly. To relate the theoretical knowledge with the practical content.
1.3 Methodology I joined as an intern in UCBL Rajshahi Branch on September 17, 2012. I was assigned to work under all the departments within 3 months. I worked under each officer and learn from him or her directly. I frequently ask questions and obey their instructions. 1.4 Scope As my study title is Job Satisfaction of Bank Employees at United Commercial Bank Ltd. Bangladesh it is clear that the scope of this study has spread over whole customers of the organization both corporate and retail. The scope of the study has been divided in two parts. One is operational scope and another is time scope. These are described below - Operational Scope: The operational scope of this study has been confined working under all the departments for 3 months. - Time Scope: This report has accomplished with in the period of three months started from 17th September 2012. 1.5 Limitations While doing this paper, I have faced several obstacles. They were The website of UCBL does not contain updated information. UCBL does not possess any Annual Report or Brochure. I have to submit the report within short period.
CHAPTER TWO: OVERVIEW OF UNITED COMMERCIAL BANK 2.1 History United Commercial Bank Limited (UCBL) is a Bangladesh based financial institution that provides banking services. The services include personal and business banking, loans, credit cards, online banking and money transfer services. The bank primarily operates in Bangladesh, where it is headquartered in Dhaka. With its firm commitment to the economic development of the country, the Bank has already made a distinct mark in the realm of Private Sector Banking through personalized service, innovative practices, dynamic approach and efficient Management. The Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in the development of trade, commerce and industry thorough a creative credit policy. United Commercial Bank Limited incorporated on 26 June 1983 as a public company with limited liability under the Companies Act 1993. The bank obtained permission to commence business with effect from 26 June 1983 and started banking operations on 29 June 1983 with an authorized capital of Tk. 100 million divided into 1 million ordinary shares of Tk. 100 each. 2.2 Management The Bank has in its Management a combination of highly skilled and eminent bankers of the country of varied experience and expertise successfully led by Mr. M. Shahjahan Bhuiyan, a dynamic banker, as its Managing Director and well-educated young, energetic, and dedicated officers working with missionary zeal for the growth and progress of the institution. 2.3 Corporate Information at a Glance Registered Name Registered Head Office Chairman United Commercial Bank Limited Federation Building, 60 Motijheel, Dhaka. Mr. Md. LATE Akhtaruzzaman choudhury babu Managing Director Number of Branches Mr. M. Shahjahan Bhuiyan 84
2.4 Vision of the UCBL To hold the position of best private commercial Bank in Bangladesh with adherence to meticulous compliances of rules and regulations and strong commitment to corporate social responsibility. 2.5 Mission of the UCBL (a) To get recognition as a dynamic, innovative and customer supportive Bank. (b) To maintain continuous & steady growth with utmost transparency and to diversify development of resources. (c) To enhance continuous development of information & technology to meet the demand and challenges of the time
2.6 Organogram of UCBL Deputy Managing Director (DMD)
Executive Vice President (EVP)
Senior Vice President (SVP)
First Vice President (FVP)
Vice President (VP)
First Assistance Vice President
Assistance Vice President (AVP)
Senior Executive Officer (SEO)
Executive Officer (EO)
Senior Officer Management Trainee Officer Officer Junior Officer Fig-1: Organogram of UCBL
2.7 Products and Services Products & Services UCB Multi Millionaire UCB Money Maximizer UCB Earning Plus Industrial Finance Foreign Currency Deposit A/C NFCD ( Non Resident Foreign Currency Deposit Account ) UCB DPS Plus RFCD ( Resident Foreign Currency Deposit Account ) Western Union Money Transfer SMS Banking Service Online Service Credit Card, Debit Card One Stop Service Locker Service Industrial Finance Foreign Currency Deposit A/C NFCD ( Non Resident Foreign Consumer Credit Scheme
Currency Deposit Account ) Time Deposit Scheme Monthly Savings Scheme Deposit Insurance Scheme Working Capital Finance Inward & Outward Remittances Loan Syndication Underwriting and Bridge Financing Inward & Outward Remittances Travelers Cheques Import Finance Export Finance Trade Finance
2.8 Department of Commercial Bank: Commercial Bank divided its branch into 3 departments.
Fig-2 Dept. of Commercial Bank 2.8.1 General Banking General Banking is the starting point of all the banking operating. General Banking department aids in taking deposits and simultaneously provides some ancillaries services. It provides those customers who come frequently and those customers who come one time in banking for enjoying ancillary services. It is the department, which provides dayto-day services to the customers. Every day it receives deposits from the customers and meets their demand for cash by honoring cheques. It opens new accounts, demit funds, issue bank drafts and pay orders etc. Cash Section Cash section demonstrates liquidity strength of a Bank. It is also sensitive as it deals with liquid money. It is the most important department that is contributing to the earning of the bank in terms of goodwill and customer satisfaction with their quality and prompt services. Cash department of UCB Rajshahi Branch is well equipped and decorated. There is also electronic counted machine and computers with online system in this department. Balance of account can be seen with few seconds. So cash payment can be made very promptly. Transaction involving cash is called cash transactions. The cheques/ instrument / vouchers which are paid in cash over the counter are cash transactions. It has two types of services: Cash Receipt Cash Payment
Procedure of Cash Receipt The depositor will use the prescribed deposit slip supplied by the bank to deposit cash /cheques/ demand draft/ pay order etc. All cash receipt voucher shall be received by the teller. Cash receipt counter performs its job as follows: First checks if the deposit slip is properly filled up containing title of account, account number, date, amount in word and figures and depositors sign. Cash is received by the cash receiving officer, twice counted and matched with the deposit slip and also write down the denomination of notes behind the cheque. Record it in the Record Book and put scroll no in the cheque Deposit slip is credited and posted in the concerned account in the system. Procedure of Cash Payment At this counter cash is paid to the customer on demand by placing a cheque over counter. Payment counter performs its job as follows: Check the cheque leaf whether it is worded properly. This cheque covers Branch seal, Date (Date must be current date or 180 days earlier), amount in figure and word, and finally signature of the Drawer. We also check here whether the word Bearer is crossed away or the cheque is in the name of any company or firm. Verify the signature with the specimen signature and give verification seal and signature of the verifier. Check proper endorsement is given behind the check leaf in case of Check Drawn on Payees in the name of any Firm. For cheques in the name of Firm Attestation is required along with Firms common seal to be paid over the cash counter. Give posting in PcBANK2000 and debit Drawer account and note the transaction no. on the top of the cheque.
Cash Book Balance At the end of the working day cashier is responsible to maintain the cash balance book. The cash book contain the date, opening balance, detail of cash payment and received in figures, closing balance, denomination of government notes (Currency). It s checked by manager. The consolidated figure of receipt and payment of cash is entered in the cash book and the closing balance of cash is drawn from that i.e. Opening Balance of Cash + Receipts - Payments = Balance The closing balance of today will be the opening balance of tomorrow. This department is one of the most important departments of the Bank. All the books maintained in this department are checked by officer. Cash Insurance Limit Cash in Vault Cash in Counter Cash in Transit
Tk. 75 Lac
Tk. 10 Lac Fig-3: Cash Insurance Limit
Tk. 1 Corer
Maintenance of Cash Remittance The In-charge of Cash Department maintains the cash remittance according to the rules of the Bank. If the cash manager thinks that the amount of money cross the limit, then he called the Principal Branch to takes the extra amount of money or vice versa. Inter Branch Credit Advice (IBCA) is used for such transaction. On-Line Banking Operations The UCBL has 84 branches and all transactions among the branches are done through Online. UCBL uses PcBank2000 customized software for its day to day transaction. The activities are: Deposit cash in any branch in any account Withdraw cash from any branch Transfer from any account to any branch
Account Opening Management Responsibility of the customer service starts with opening of new account in the name of new customer. This is the starting point of the client bank relationship. By opening an account, the bank bridge its customer to avail the facilities provided by the bank. Types of Account UCBL has several types of deposits for its customers. LikeSavings Bank (SB) Account Current Deposit (CD) Account Short Term Deposit (STD) Account Fixed Deposit Receipt (FDR) Account Account Bills and Remittance: Remittance is one of the important items of bank business. Now a day business person cannot run his business without bank remittance facilities. Sending some money from one station to another through banking channel is called remittance. Remittance may be both local and foreign. The main instruments used for local remittance of fund are: Pay Order (PO) Demand Drafts (DD) Telegraphic Transfer (TT) Payment in Cash Clearing The function of clearing department can be divided into two parts: Outward Clearing Inward Clearing 2.8.2 Credit Management: The word credit derives from Latin word cruder means to trust. The fundamental nature of credit is that, an element of trust exists between buyer and seller whether of goods or of money. Credit may also be defined narrowly or broadly. Narrowly credit is simply the opposite of debt. Debt is the obligation to make future payments. Credit is the claim to receive these payments. Credit is finance made available by one party (lender, seller or shareholder/ owner) to another (borrower, buyer, corporate or non-corporate firm), i.e. from surplus unit to deficit unit. Credit is the outcome of financial
10
intermediation the very major service offered by Bank financial institution. The economic basis of financial intermediation lies in the economics of scale in portfolio management and in the low of large numbers. Lander have preference for financial intermediation because of: Low risk Greater liquidity Convenience and Organizational Structure for Credit Operation:
Head Office
Board
EC MD DMD
Corporate Division
Credit Division
Internal Audit
General credit dept
SME Dept
Trade Financ
Leasing Dept.
Syndication & Structured Finance Dept.
CRM Dept.
Recovery & Legal Dept.
Credit Marketing Team
Credit approval Team
Credit administration Team
Credit Recovery Team
Fig-4: Organizational Structure for Credit Operation
11
At the minimum, one officer shall be placed in the Credit Administration unit immediately at each branch who shall independently under administrative and working control of Credit Administration Department. Credit Administration Flowchart: Functions of Credit Administration
Disbursement
Custodian
Monitoring
Compliance
Returns to
Approval from CRM
Obtaining security Documentation per approval as
Conditions & Covenant Branch Monitoring
BB, CIB Reporting,
Completion of Security Documentation Safely Storing Loans/Security Documents (fire proof)
Monitoring Of Past Due, Limit, Expiry & Documents
Maintain BB, Circulars & ensure compliance by all Depts.
Limit Creation & Complying Disbursement Ensure Collateral is insured & properly Values.
Disbursement
Fig-5: Credit Administration Flowchart
12
Loan & Advances Loan and advances have primarily been divided into three main heads as follows: Loan & Advance
Term Loan
Continuous Fig-6: Loan and Advance
Demand Loan
Fixed Term Loan These are the non-revolving loans made by the Bank with fixed repayment schedules. This loan is given for a specific term and usually repaid in Equal Installment either of monthly or quarterly. The interest may be paid quarterly or along with the installment. Fixed term loans are categorized into three categories based upon its tenure which is defined as follows: Short-term loan Mid Term loan Long Term Loan:
Continuous Loan
Continuous
Over Draft (OD)
Cash Credit
Secured OD
Temporary
CC Hypo
CC Pledge
Fig-7: Continuous Loan
13
Demand Loan These are the non-revolving loans which are neither continuous nor fixed but have to be repaid on demand. This loan is repayable by the borrower on demand. That means for this loan the borrower is bound to pay back on demand of Bank. Personal Loan ( Consumer Credit Scheme) The objectives of this loan are to provide essential household durable to the fixed income group (Service Holders) and other eligible borrowers. Car loan, loan for house renovation, vacation loan, marriage loan and loan for household equipment well as entertainment products are governed by personal loan program. Credit Committee Bank has a multi-tier Credit approving system to manage the credit risk efficiently. Credit proposals after preliminary evaluation and making necessary adjustment will be placed by Corporate Banking Division before the Credit Committee for preliminary appraisal since recommendation of the Credit Committee is pre-requisite before approving any loans by the appropriate approval authority. Credit Risk Review Department of CRMD will conduct their risk assessment on different aspects of the proposal and may place their observation in the Credit Committee meeting. 2.8.3 Foreign Exchange Department Foreign Exchange Department is an important one in UCBL Rajshahi Branch that deals with import, export, and foreign remittance and post import financing. Through this is an ancillary service provided by the Bank. The Bank is purchasing primary security by giving loan in form of loan against imported merchandise (LIM), and loan against trust receipt (LTR). Bank branch should be Authorized Dealer with the approval of Bangladesh Bank to run foreign exchange business. This department is playing an important role in enhancing export earnings, which aids economic growth and, in turn, will be helpful for economic development. On the other hand, it also helps to meet those goods and services, which are more demandable and not adequate in our country. Function of Foreign Exchange L/C opening & L/C amendment Sanctioning PAD, LIM, LTR, Packing credit Foreign Bill Purchase
14
Local Bill Purchase Foreign Currency Account Maintaining Foreign Currency Remitted The Foreign Exchange Department of UCBL is divided into three broad sections:
Fig-8: Foreign Exchange Department Letter of Credit Letter of Credit is a payment guarantee to the seller by the buyers Bank. It is a Credit Contract whereby the buyers Bank on behalf of the buyer is committed to pay an agreed amount of money to the seller under some agreed conditions. Contents of Letter of Credit Name of the Buyer Name of the Seller Moment of the Credit Trade Terms Tenor Expiration Date Documents Required Foreign Exchange Report Import policy refers to government policies account for a particular fiscal period envisaging the allocation of fund available from various sources for import of certain quantity of certain goods. The main purpose of the policy is to conserve scare foreign exchange & to ensure its utilization for the import of goods and services which have national priority.
15
Flow Chart of Import Procedure 1. Importer Order Goods 2. Exporter Agrees to Fill Order 3. Importer Arranges for L/C
Exporter
6.
Goods
Shipped
to
Importer
10&11. Exporter Sells Draft to Bank
7. Exporter Presents Draft to Bank 12. Banks Tells Importer Documents
13. Importer Pays Bank
Exporter
14. Importer Bank Presents Matured Draft & Gets Payment
Importer
8. Importer Bank Presents Draft to Exporter 5. Importer Bank Informs 9. Importer Bank Returns Accepted 4. Importer Bank Sends L/C to Exporter Fig-9: Flow Chart of Important Procedure
16
Letter of Authorization Form (LCAF) The Letter Of Credit Authorization Form is the form prescribed for the authorization of opening letter of credit or payment against import and used in lieu of import license. The authorized dealers are empowered to issue LCA forms to the importers to allow import in Bangladesh. If foreign exchange, it is intended to be bought from Bangladesh Bank against a LCAF, it has to be registered with Bangladesh Banks Registration Unit. Importer Application for L/C Limit The importer must have sufficient credit line for opening an L/C. In case the client does not have approved credit line for opening an L/C the Manager of the branch takes necessary arrangement to submit a proposal to the Credit Committee/Executive. .L/C Application L/C Application is a sort of arrangement between client and Bank. UCBL provides a printed form for opening a L/C to the importer. Usually the importer expresses his desire to open a L/C quoting the amount of margin in percentage. Scrutiny of L/C Application On receipt of L/C application, the branch officials scrutinize the same very carefully giving emphasis to the following: The terms and conditions of the L/C must be complete with UCPDC 500 and Exchange Control & Import Trade Regulation. L/C application is stamped, as it is a guarantee of payment. Procedure On receipt of a request letter for amendment of L/C from the customer the Bank takes the following steps: Record the date and time of receipt of the application. Read the request letter for amendment briefly to ensure that concerned L/C number and the instructions mentioned are clear. If found in order check the request letter for amendment together with all supporting papers.
17
In case the letter of amendment is completed or required papers neither are nor submitted, the customer should be contacted promptly for rectification of the defects. In case the customers do not have approved credit line for increasing/amending the L/C, the import section has to submit proposal to the Executive Committee of the Board and keep pending of amending the L/C till its approval. When the request letter for amendment with all papers found to be in order, record the particular of amendments with date in appropriate column against the relevant L/C in the L/C register. Prepare the letter of amendment either in mail, SWIFT telex format. Foreign Exchange Export According to Foreign Exchange Regulation Act, 1947, nobody can export by post and otherwise any goods either directly or indirectly to any place outside Bangladesh, unless a declaration is furnished by the exporter to the collector of customs or to such other person as the Bangladesh Bank may specify in this behalf that foreign exchange. Back to Back Letter of Credit Back-to-Back L/C is a secondary L/C opened by the sellers Bank based on the original/master L/C to purchase the raw materials and accessories for manufacturing of the export products required by the seller. Post-Shipment Credit Post-shipment Credit refers to the credit facilities extended to the exporters by commercial Banks after shipment of the goods against export documents. Banks in our country generally extend post-shipment credit to the exporters through: Negotiation of documents under Letter of Credit Purchase/Discount of DP and DA Bills Advances against Export Bills surrendered for collection Negotiation of documents under Letter of Credit Purchase/Discount of DP and DA Bills:. Advances against Bills for Collection:
18
Commission for collection: Up to 1 lack ---------------------------------------------- 0.15% Above 1 lack---------------------------------------------- 0.10% Above 5lack ---------------------------------------------- 0.05%
Foreign Remittance Foreign Remittance means purchase and sale of freely convertible foreign currencies as admissible under Exchange Control Regulation of the country.
Fig-10: Foreign Remittance Foreign Inward Remittance Foreign Outward Remittance Remittance which is made from our country to abroad is called foreign outward remittance. Foreign Bills Collection The collection procedure is as follows: Entries in the FBC register and get a FBC number. This number will be on the bill and be treated as reference no. Forward the bill along with a forwarding letter to the corresponding Bank. Send the draft through courier service and keep a courier receipt in the file. Crossing on the bill indicating UCBL as a collecting Bank. Endorsement on the back of the bill Payees A/C will be credited on realization.
19
PART TWO: RESEARCH SECTION
20
CHAPTER THREE: INTRODUCTION 3.1 Introduction

Job satisfaction or employee satisfaction is one of the most important factors in any organization especially in serve competitive banking sector across the world. In the development of information and communication technology (ICT), the fact of job satisfaction is becoming more complex day by day. To cope with the changes and upcoming challenges, organizations must identify the factors, which have profound impact on organizational performance as well as job satisfaction.
3.2 Statement of the Problem

Job satisfaction has been defined as a general attitude toward ones job (Huang, 1999). Locke (1976) has defined job satisfaction as the pleasurable emotional state resulting from the appraisal of ones job or job experiences. Smith (1955) defined job satisfaction as an employees judgment of how well his job has satisfied his various needs. But Locke (1976) gave a more acceptable definition of job satisfaction. He defined job satisfaction as the pleasurable emotional state resulting from the perception of ones job as fulfilling ones important job values, providing these values are compatible with ones needs. In such situation, job satisfaction of bank executives becomes an important issue that has to be taken care of in order to achieve ultimate goals of the banking sector in Bangladesh. It is strongly affected the quality of service of the employees (Babakus, Yavas, Karatepe, Avci, 2003). Employee satisfaction is thought to be one of the primary requirements of a well run organization and considered an imperative by all corporate managements. It is undeniable fact that the future of business enterprise depends upon the satisfaction level of its workforce. Dissatisfied workforces cause immediate problems only to their particular businesses. Psychologists and sociologists have long been interested in the functions and significance of job attitudes (Hoppock, 1935). Job satisfaction is a primary aspect of job attitude. The most important evidence indicating the condition of the organization getting worse is the low rate of job satisfaction (Kaya, 1995). Thus the job satisfaction is essential pre-requisite for healthy organizational environment.
21
3.3 Objectives of the Study

The main objectives of the study are 1. To ascertain the degree of overall job satisfaction prevailing among the bank officers. 2. To focus on the relative importance of job satisfaction.
3.4 Literature Review

A review of the literature on job satisfaction revealed that a number of researcher and HR professionals have emphasized the importance of the factors affecting job satisfaction. Job satisfaction involves different facets such as satisfaction with pay, promotion opportunities, benefits, job security and the importance of the job (Nquye et, al., 2003). The private banks specially created a cut throat competition by offering new products and services to gain more market share. The employment patterns in the banking sector changed the focus become performance and targets rather than experience and loyalty. Hence, pay and job satisfaction becomes a primary factor for the banking employees which needed attentions so as to achieve the long term goals of the bank (Islam & Saha). Determinates such as pay, work itself, relationships with coworkers, supervision and opportunities for promotions have been found to contribute to job satisfaction (Opkara, 2002). There is a significant difference in the job satisfaction levels of employees based on their income (Yasir & Fawad 2009). Generally, employees with lowest earnings reported lower levels of job satisfaction relative to other income groups. The Literature indicates that the performance of the private and foreign banks have been stronger than that of public sector banks (IBA, 2008). A study by Slevaraj (2009) states; private banks were more successful then public sector in terms of implementing Total Quality Management (TQM) initiatives, in context of HR, customer focus, and top management commitment. Public sector banks structure compensation in a way such that there are lower pay differentials between the employees, long-term tenure is rewarded and there is a high base pay, whereas in the private sector banks, there are larger pay differentials, fewer rewards for tenure, and pay for perf ormance (D'Souza, 2002). However, private sector banks do not provide job security and would lay off their employees in cases of poor performance or adverse market conditions (Jha, Gupta & Yadav, 2008). A various studies have been conducted on the job satisfaction but a very few studies have been done on the job satisfaction of private sector in Bangladeshs socio economic
22
context especially in the banking sector. This research gap induced the author to undertake the present study. 3.5 Significance of the Study The study is significant for the following reasons: 2) This research may encourage further study including some new variables like this: Performance appraisal, job analysis, good and safe working condition, Employee relations, and so on; 3) This study will assist to enhance their understanding of the employees job satisfaction; 4) It will also help them to make decisions regarding their HRM practices; 5) This study will help top management to craft their strategy regarding their HRM practice. 3.6 Research Question Our research question on the problems situation mentioned: is there a significance job satisfaction prevailing among the employees of UCB ltd. in Bangladesh? Based on psycho-social approaches to generate relevant research design and its proper investigation this research question is very important to the policy makers of the bank and to design appropriate policy and programs to promote banking services as well as satisfaction among the employee of the UCB ltd. Bangladesh. CONCEPTUAL FRAME WORK
promotions, salary, job security, Recognition
Job satisfaction
Figure 11: Conceptual Framework of The impact of job satisfaction on Employees at United commercial bank
23
3.7 Hypothesis The following hypothesis are formulated for the study Hypothesis-1: All factors (Salary, Recognition, Job Security and Benefit) are significantly correlated with overall job satisfaction. Hypothesis-2: All factors determine the job satisfaction is significant. 3.8 Relative Important Factors Physical Environment Relation with co-worker and organizations practice and polices can lead to overall job satisfaction. Previous studies shows that pay, promotion opportunities, benefits, job security are the important factors for academic performance of children in any society across the world. (Nquye et, al., 2003, Opkara, 2002). Pay Promotion opportunities Benefits and Job security Physical Environment Relation with co-worker and organizations practice and polices
Job Satisfaction
Fig- 12: Relative Important Factors of Job Satisfaction
3.9 Limitations of the Study 1. The Survey is subjected to the bias and prejudices of the respondents. Hence 100% accuracy cant be measured; 2. The researcher was carried out in a short span of time, where in the researcher could not widen the study; 3. The study could not be generalized due to the fact that researcher adapted personal interview method.
24
CHAPTER FOUR: METHODOLOGY
4.1 Data Sources and Method

This study was conducted in Rajshahi district. In order to conduct this research United Commercial Bank Ltd. Rajshahi branch of Bangladesh was purposefully selected for the study area. In so doing 35 bank officers were purposefully selected for the study.
4.2 Variables and Measures

Overall satisfaction has been taken as a dependant variable and various other factors like promotions, salary, job security, recognition, work environment etc are considered as the independent variables. The main purpose of this study was to identify the job satisfaction of the bank employees of the UCB Ltd. in Rajshahi, and to determine working hours, team spirit, benefits, working environment and job security influence employees perception regarding job satisfaction. Bank employees in this study refer to senior executive officers, executive officers, and officers (not employees such as peons, guards, drivers, cleaners, clerks etc). A questionnaire was developed, using 5-Scale Likert (1=Highly dissatisfied, 2=Dissatisfied, 3=Somewhat satisfied, 4=satisfied, 5=Highly satisfied) and was designed to test the impact of all the variables for this study. The questionnaire was divided into 2 sections: demographics and job satisfaction. This is a relative and qualitative study for which a tested questionnaire was used to identify various outcomes of the study. 4.3 Instrument and Procedure This study used survey design aimed to find out job satisfaction among the employees of United Commercial Bank Ltd. Rajshahi branch Bangladesh. In so doing we used both qualitative and quantitative variables. Based on the measurement of the independent and dependent variables open-ended and close-ended questions was designed, following from several studies. Interview technique with the questionnaire was applied for data collection. According to the questionnaire every respondent of the bank was individually asked for relevant answers. Internship for this research was conducted from September 17 to November 19, 2012. In order to collect real and valid data from the selected employees of the bank with the questionnaire the researcher built up rapport with the respondents to create consciousness about the research purposes and objectives, to make easy them for conversation and to encourage them to active participation in the research. It continued until the completion
25
of data collection. First month of the data collection period were used to build up rapport with the respondents and the next half of the months were worked for data collection. The necessary data were collected at lunch time when the respondents of the bank were leisured. After completion the interview especial thanks were given to every employee for further contact. 4.4 Statistical Tools The statistical tools used for analyzing the data collected are percentage method, bar diagrams and pie diagrams. 4.5 Analysis of Data The data are collected through survey and books, reports, newspapers and internet etc., the survey conducted among the employees of UCBL Ltd. The data collected by the researcher are tabulated and analyzed in such a way to make interpretations. Various steps, which are required to fulfill the purpose, i.e., editing, coding, and tabulating. The collected data are analyzed and interrupted using statistical tools and techniques.
26
CHAPTER FIVE: RESULTS AND DISCUSSION Table-1: Demographic Characteristics

Frequency Respondents Gender Male Female Total Respondents Working Experience < 1 year 1-5 Years 6-10 years 11 to above Total Respondents Working Position Top Executive Senior Executive Officer Executive Officer Officer Card Division Total Respondents Income Range (Monthly) < 30000 Tk 30000-50000 50000-70000 More than 70000 Total 15 3 11 6 35 42.85 8.58 31.42 17.14 100 6 2 17 5 5 35 17.14 5.71 48.57 14.25 14.25 100 9 10 10 6 35 25.71 28.57 28.57 17.14 100 23 12 35 65.72 34.28 100 Percentages (%)
Tables I summarize the respondent organizations characteristics according to the working experience in the current organization and working positions of the respondents. The above table shows that 65.72% employees of the bank were male and only 34.28% were female employees. Most of the employees working experience within 5 years (54.28%). 6-10 years experience employees were 28.57% and 11 to above years were only 17.14%.
27
Fig 13: Respondents Working Position
The above chart-1 indicates that regarding the position of the of the employees of UCB at Rajshahi branch, 49% were executive officer, 17% were top executive officer, card division and officer were 14% and 6% were senior executive officer. So, most of the employees of the bank were executive officers level. Fig-14: Respondents Income Range (Monthly)
According to the above chart and table most of the employees salary range were <30000 Tk (43%), 50000-70000Tk were 31%, 30000-50000 Tk were 9% and more than 70000Tk were 17%.
28
Table-2: General Findings Related to Job Satisfaction Frequency

Salary matches with responsibilities and level of satisfaction Highly dissatisfied Dissatisfied Somewhat satisfied Satisfied Highly satisfied Total Recognition for contribution and level of satisfaction Highly dissatisfied Dissatisfied Somewhat satisfied Satisfied Highly satisfied Total Job security and level of satisfaction Highly dissatisfied Dissatisfied Somewhat satisfied Satisfied Highly satisfied Total Benefits and level of satisfaction Highly dissatisfied Dissatisfied Somewhat satisfied Satisfied Highly satisfied Total
Percentages (%) 0 8.57 5.71 68.57 17.14 100 0 17.14 14.28 52.28 14.28 100 5.71 11.42 17.14 31.42 34.28 100 5.71 5.71 2.85 57.14 28.56 100
0 3 2 24 6 35 0 6 5 19 5 35 2 4 6 11 12 35 2 2 `1 20 10 35
29
According to the findings of the above table-2, most of the employees of the UCB were satisfied for salary recognition, job security and benefit respectively 68.57%, 52.28%, 31.42% and 57.14%. Highly satisfied were 17.14%, 14.28%, 34.28% and 28.56% respectively. On the other hand 8.57%, 17.14%, 11.42% and 5.71% were dissatisfied. Among the dissatisfied employees, most of their positions in entry level like card division. On the other hand, most of employees of the bank were satisfied for physical environment of the bank, relationship with their co-workers and organization practice and polices but not highly satisfied. According to the fact, we can assume that job satisfaction among employees of the UCB is satisfactory. RECOMMENDATIONS It is quite difficult to give suggestion to improve the banking conditions of UCBL. I have found during my internship can be made up taking into account the following suggestions. Offers more facilities to the customers such as, more ATM booth etc.; General working conditions ought to be improved; Should increase the number of computers as well printers with proper UPS facility; To speed up the Foreign Exchange works; Physical environment (space, infrastructure, furniture) need to be developed; In order to promote healthy environment of the bank, inter professional relationship among the employees should be increased; Job security should be ensured for the employees of card division; Intrinsic reward is such a reward which is not visible and motivate employee through recognition of their work, provide leave, career guidance and so on. And extrinsic reward is such kind of reward which is visible or monetary reward like benefits, compensation, pay for performance motivate employees of an organization. So intrinsic and extrinsic reward should be established in order to ensure job satisfaction among the employees of UCBL.
30
CONCLUSION
In the conclusion of the analysis and observation during my internship period it can be
concluded that United Commercial Bank Limited is providing and maintaining pleasant working environment for delivery of better quality services to maintain edge over the competitors. At the same time it has been also found that United Commercial Bank Ltd. is participating in the growth of our national economy with high quality, information technology driven innovative services to its clients by its own dedicated team of professionals. While concluding, it could be said that overall the job satisfaction among the bank officers though is not very high but still satisfactory. But there is still considerable room for improvements.
31
References
Appendix-1
1. D'Souza, E. (2002). Employment and human resource practices in public sector banks in the nineties, In Shuji 2. Hoppock, R. (1935). Job Satisfaction, Harper and Row, New York. 3. IBA (2008). Indian banking year book. Mumbai: Indian Banks' Association. Islam, N.U., & Saha, G.C. (n.d). Job satisfaction of Bank Officers in Bangladesh. 4. Jha, B. K., Gupta, S. L., & Yadav, P. (2008). Use and effectiveness of new technologies in Indian banking: A study, The ICFAI Journal of Services Marketing, 6(1), 622. 5. Kaya, Ebru (1995). Job Satisfaction of the Librarians in the Developing Countries. 61st IFLA General Conference, Management Education and Practice in a Developing Economy. 6. Locke, E.A. (1976). The nature and causes of job satisfaction, in Dunnette, M.D. (Ed.), Handbook of Industrial and Organizational Psychology, Rand McNally, Chicago, IL, pp.1297-1343. 7. Opkara, J. O. (2002). The impact of salary differential on managerial job satisfaction: A study of the gender gap and its implications for management education and practice in a developing economy. The journal of Business in Developing Nations, 65-92. 8. Selvaraj, M. (2009). Total quality management in Indian commercial banks: A comparative study, Journal of Marketing and Communication, 4(3), 5970. 9. Yasir, K., and Fawad, H., (2009). Pay and Job Satisfaction: A Comparative Analysis of Different Pakistani Commercial Banks. Munich Personal RePEc Archive, paper No.160 59.pp. 1-20. 10. www.ucbl.com 11. www.bangladesh-bank.org 12. www.wikipedia.com
QUESTIONNAIRE Appendix-2 A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD. BANGLADESH
Respondents Name...Age. Organization Name. A. General Information 1. Gender of the Respondents: Male Female
2. Total Number of year in this organization of the Respondents: Less than1 1-5 6-10 Above 11
3. Respondents Working Position:
Top Executive Officer
Senior Executive Officer Card Division
Executive Officer
4. Respondents Income Range (Monthly):
Less than 30000Tk More than 70000Tk
30000-50000TK
50000-70000Tk
B. For the questions that follow and used the following scale which are stated below:
Highly dissatisfied-1,Dissatisfied-2, Somewhat satisfied-3, Satisfied-4, Highly satisfied-5 1 1 2 3 4 5 6 7 Salary matches with responsibilities and level of satisfaction Recognition for contribution and level of satisfaction Job security and level of satisfaction Benefits and level of satisfaction Physical environment of the bank Relationship with the co-workers Organizational practice and polices 2 3 4 5

0830004

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

0830004

Uploaded by

Copyright:

Available Formats

A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD.

by Syeeda Nadia Taskin ID#0830004

Independent University, Bangladesh

by Syeeda Nadia Taskin ID#0830004

has been Approved September 2012

School of Business Independent University, Bangladesh

Thanking you Sincerely yours

Syeeda Nadia Taskin ID#0830004

2.6 Organogram of UCBL Deputy Managing Director (DMD)

Executive Vice President (EVP)

Senior Vice President (SVP)

First Vice President (FVP)

Vice President (VP)

First Assistance Vice President

Assistance Vice President (AVP)

Senior Executive Officer (SEO)

Executive Officer (EO)

Tk. 10 Lac Fig-3: Cash Insurance Limit

General credit dept

Syndication & Structured Finance Dept.

Recovery & Legal Dept.

Credit Marketing Team

Credit approval Team

Credit administration Team

Credit Recovery Team

Fig-4: Organizational Structure for Credit Operation

Approval from CRM

Obtaining security Documentation per approval as

Conditions & Covenant Branch Monitoring

BB, CIB Reporting,

Completion of Security Documentation Safely Storing Loans/Security Documents (fire proof)

Monitoring Of Past Due, Limit, Expiry & Documents

Maintain BB, Circulars & ensure compliance by all Depts.

Fig-5: Credit Administration Flowchart

Continuous Fig-6: Loan and Advance

Over Draft (OD)

Fig-7: Continuous Loan

10&11. Exporter Sells Draft to Bank

7. Exporter Presents Draft to Bank 12. Banks Tells Importer Documents

13. Importer Pays Bank

14. Importer Bank Presents Matured Draft & Gets Payment

PART TWO: RESEARCH SECTION

CHAPTER THREE: INTRODUCTION 3.1 Introduction

3.2 Statement of the Problem

3.3 Objectives of the Study

3.4 Literature Review

promotions, salary, job security, Recognition

Fig- 12: Relative Important Factors of Job Satisfaction

CHAPTER FOUR: METHODOLOGY

4.1 Data Sources and Method

4.2 Variables and Measures

CHAPTER FIVE: RESULTS AND DISCUSSION Table-1: Demographic Characteristics

Fig 13: Respondents Working Position

Table-2: General Findings Related to Job Satisfaction Frequency

3. Respondents Working Position:

Top Executive Officer

Senior Executive Officer Card Division

4. Respondents Income Range (Monthly):

Less than 30000Tk More than 70000Tk

You might also like