Factors influencing job satisfaction and turnover intension in BRAC BANK Limited

Abstract

The principle objective of this report is to figure out the factors behind employees‟ job satisfaction and variables influencing job dissatisfaction as well which ultimately result in employee turnover in BRAC Bank Limited. This topic was chosen because high turnover rate in financial services particularly in commercial bank is considered to have immense impact on productivity, quality and profitability. (Ramadhani. S. 2014) BRAC Bank Limited is a private commercial bank in Bangladesh which focuses on Small and Medium Enterprises (SME). It was founded on 4 July 2001 to attain the huge number of unbanked people which the traditional banking could not reach and at present approximately eight thousand employees work in there. Therefore, in this report I tried to assess the extent of turnover, the level of job satisfaction and its determinants and finally to observe the relationship between the job satisfaction and turnover based on several variables. This report brought light on the reasons behind the high employee turnover in BBL and some proposals have been suggested so that BBL can work on reducing the turnover rate in their organization. A quick survey was conducted among 50 employees of BBL, Head Office, Anik Tower, to figure out how the employees feel about their work and the significance of working environment, career aspiration, salary, fringe benefits, relation with supervisors and coworkers etc on employees decision whether to continue in that organization or to look forward to better opportunities. The findings of the study imply that, the greater the job satisfaction the less likely is the turnover intention. Accordingly employees who are satisfied with their job will have less or no intention to leave. The results of the study therefore can be used as the basis for decision making concerning employees‟ welfare, drafting retention strategies and future human resource planning and development, last but not the least retaining the employees will eliminate the huge cost of recruiting new employees and arranging training programs and additional allowances along with that.