An empirical study on factors influencing job satisfaction of human resource in bank and insurance companies of Nepal

Abstract

Job satisfaction is the positive emotional feeling of an employee towards his/her job. It is one of the most important outcomes of an organization which depends upon the various motivational factors. Out of various motivational theories, this research work has used Herzberg’s Two Factor Theory of motivation to understand the impact of motivational factors on job satisfaction of human resource working in bank and insurance companies of Nepal. Due to the use of the theory, the assumed 15 motivational factors are classified in to two groups-i.e; hygiene factor and motivator factor and later on each of the motivational factors are further grouped in to motivational and de-motivation factors in order to meet the assumption of independent sample t-test through IBM SPSS 25 version. To test internal consistency reliability of questions related to 15 constructs, Cronbach alfa(α) coefficient has been calculated. To create consistency with sample size assumed in Herzberg’s theory of motivation, this research paper has collected primary data from 200 respondents through face-to-face interview method with structured questionnaire. The results of this research work have partially accepted the conclusion of Herzberg’s theory of motivation. Through the result of independent sample t-test, it has been found that, relation with colleague and allowances do not significantly effect on the level of job satisfaction of human resource whereas the remaining 13 motivational factors-i.e.; salary, bonus, vehicle facility, trainings, job promotion, work environment, rules & regulations, loan facility, relation with superior, awards, challenging job, relation with subordinate and job security do significantly effect on job satisfaction of human resource. This research paper concludes that to improve the job satisfaction of human resource, the bank and insurance companies of Nepal should increase their time, effort and finance on the remaining 13 motivational factors rather than on the 2 motivational factors.