Job Satisfaction

PRELIMINARY
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1.1 Title of the Report:
The title of the report is that Employee Job Satisfaction of Sonali Bank Limited: A study on
Mymensingh Corporate Branch
1.2 Introduction:
The banking sector is one of the major service sectors in Bangladesh economy. There is several
types of banks, which differs by different kind of services. Although some of the differences
between these types of banks have lessened they begin to expand the range of products and
services they offer. Commercial banks are the primary contributor to the economy of a country.
Sonali Bank Ltd. is the largest state owned leading commercial bank in Bangladesh. It enables
every facial appearance that limited commercial bank requires. It provides every kind of banking
facilities to their customer to ensure the customer satisfaction. Sonali Bank Ltd. is always
concern about the perfect customer service.
1.3 Background of the Report:

Job Satisfaction has been an important concern in the world of professional commitments as, so
far it has been undoubtedly believed, the outcome of the industry, to a large extent, depends on
the job satisfaction of the employees. How to define Job Satisfaction seems rather difficult
because it deserves to be defined in terms of territorial socio-economic realities. When an
employee finds his or her job interesting, rewarding and reliable- this state of the employee is
that he or she is satisfied in his or her job. Thus, job satisfaction comprises many factors. The
overall job satisfaction depends on what one expects and what he or she receives (Azim and
Hoque, 2006). As a result, it is clear that a lot of factors function to bring about job satisfaction
and at the same time lack of them is responsible for job dissatisfaction. Internship program is a
perfect blend of the theoretical and practical knowledge. This report is originated to fulfill the
requirement of the assign project internship report on Employee Job Satisfaction of Sonali Bank
Limited has been assigned to me by my internship supervisor of Jatiya Kabi Kazi Nazrul Islam
University. There has been a remarkable change in the practice of organizational behavior across
the world. Every company has to design its policies to ensure the optimum benefits. At the same
time, customers satisfaction is prioritized in preparing the courses of actions so as to establish
domination over other. But which one seems very important with regard to the companys
constant growth is staffs job satisfaction. In the first world this issue has been understood
reasonably because they do understand that the job satisfaction of the staffs is much more
important than other components of the organization. It has been realized the fact that job
satisfaction has to be taken care of pragmatically. With an increasing number of workers eager to
find a greater work/life balance, so in case any organization should find out the ways to keep
their employees happy now. Over the years, as business budgets have tightened and remaining
employees have been forced to take on larger workloads, employees have experienced
significantly added stress without receiving compensatory rewards and other extra facilities.
Even simple changes will bring employees feeling a greater balance in their lives. Flexible work
hours aren't the only way to increase employee satisfaction. Here are some other steps that can
take to retain employees loyalty and dedication while reducing turnover, provide workers with
responsibility and then let them use it, show respect, recognize the whole person, mark out a
clear path to growth. During this period learned about the core components that trigger the job
satisfaction of the staffs of the Sonali Bank Limited. Based on these core components, the level
of employee job satisfaction can be measured, like; job itself, good salary, flexibility, ability to
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influence decisions, job security, workload, physical work environment, advancement and new
opportunities, new technologies, interesting projects, training program, interpersonal relations,
challenges, recognition.
1.4 Rationale of the Study:

This report is a part of my academic program (BBA Program). The period of internship program
has set for three months. This program helped me a lot to understand the working environment
and behavior of the staffs/employees of the Sonali Bank Ltd.
1.5 Objective of the Study:

The primary objectives of the report are to orient the real life nature of the bank and to measure
the job satisfaction of the staffs of the Sonali Bank Ltd. at Mymensingh Corporate Branch.
The study has been carried out with the following objectives:
Specific Objective:
To fulfill the partial requirement of the internship program as a full credit subject of the BBA
program.
Secondary objectives:
To understand the components that prompt job satisfaction of the staffs of Sonali Bank
Ltd.
To measure the level of job satisfaction of employees with respect to the Bank.
To know the reasons behind the job dissatisfaction of the employees from the findings.
1.6 Scope of the Study:

This study covers the factors affecting job satisfaction in Banks. The organizational factors
include work conditions, pay, fairness and promotion; individual factors include age and gender,
they are the independent variables; job satisfaction is the dependent variable. Since, working at
branch, get the opportunity to gain knowledge of the components that helps to retain job
satisfaction of employees of Sonali Bank Limited. The decisions and analyses are done based on
the opinion of 35 respondents and practices applied at only this branch.
1.7 Methodology of the Study:

Job satisfaction is defined as a collection of feelings that an individual holds toward his or her
job. This definition is clearly broad one. A persons job is more than just the obvious activities of
shuffling papers, writing programming code, waiting on customers. Jobs require interaction with
coworkers and bosses, following organizational rules and policies, meeting performance
standards, living with working conditions that often less than ideal. This means that an
employees assessment of how satisfied or dissatisfied he or she is with his job is a complex
summation of a number of discrete job elements. For the findings part 15 questions were made to
collect the valid data from all the employees of the branch and rating them in five criteria, like;
strongly agree, agree, strongly disagree, disagree, and neutral.
1.7.1 Type of the Study:

Exploratory research has been used for the study.
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1.7.2 Sources of Data:
The data used to furnish this report have been collected from the primary sources and secondary
sources. Among primary and secondary sources most of the data have been collected from the
secondary sources.
Primary Sources:
Conducted survey through questionnaire.
Practical desk work
Direct observations
Secondary Sources:
Annual report of The Sonali Bank Limited.
Various publications on Bank,
Bank websites,
Prospectus of Sonali Bank Limited.
1.7.3 Methods of Data Collection:

For data collection Interview method was used. Interviews were taken with the officers of
Mymensingh Corporate Branch of Sonali Bank Ltd. through questionnaire.
1.7.4 Sampling Method:

Convenience sampling method has been performed for selecting samples.
1.7.5 Sample Size:

There are 35 respondents.
1.7.6 Data Analysis Technique:

MS Excel was used for data analysis.
1.8 Limitation of the Study:

There were certain limitations while conducting the study. These are summarized below:
The main constraint of the study was of time as the duration of the program was of three
months only.
Insufficient supply of relevant books and journals.
As the officers are very busy with their daily work, they could provide very little time.
There were some restrictions to have access to the information confidential by concern
authority so it was less possible to get into that part for internship report writing purpose.
Lack of my experience and efficiency to prepare the standard report.
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LITERATURE REVIEW
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LITERATURE REVIEW
This chapter deals with a brief review of the work done in the past on the subject concerned.
Review of the past research helps, besides demarking the limitations of the work done, in
classifying the concept and formulating the methodology of the study. So the attempt has been
made to review various research work carried out in the past.
Sowmya and Panchanatham (Factors influencing job satisfaction of banking sector

employees in Chennai, India) (2011) researched job satisfaction of 120 employees of several
public as well as private sector banks in India. The researchers concluded that, while the pay and
promotion were the primary and indispensable requirements for the satisfied employee, the
managerial and organisational aspects were also highly valued. Besides that, the authors noted
that, due to importance given to the banks in their countrys financial system, even small job
dissatisfaction among the banking sector employees can cause visible negative impact in the area
of negligence and high staff turnover.
Schermerhorn, Hund and Osborn (1998) Robbins (1994) said that job satisfaction refers to an
individuals general attitude towards his or her job. A person with high level of job satisfaction
holds positive attitude towards his job, a person who is dissatisfied with his or her job holds
negative attitude about the job. When people speak of employee attitudes, more often than they
not mean job satisfaction. In fact, the two terms are frequently used interchangeably.
Attitude have been found by Srivastva (1974) & Robbins (1940) to be the main indication of
job satisfaction and also Singh (2003) have found job satisfaction to be a result of various
attitudes.
Locke (1969) points out that it cannot be the whole story, and emphasizes the concept of value
fulfillment rather than expectation, one might well be satisfied, by an unexpected promotion, an
unexpected rise in salary, and one might be dissatisfied with an unexpected dismissal. Often
values and expectations will coincide, as one tends to confine what one has some expectation of
achieving. Satisfaction occurs when the job fulfill what one values. And just as with
expectations, values will vary from group to group and between individuals within any one
group.
Vroom (1964) has done an excellent job of examining the relationship between job satisfaction
and various aspects of job behavior, and perhaps summarizing his findings in the best way of
giving the reader an overview. Vroom categorizes studies in terms of which job behaviors are
correlated with job satisfaction. Specifically, he groups them into studies of turnover,
absenteeism, accidents and job performance.
An excellent of how job satisfaction is influenced by group variables is presented by Hulin and
Smith (1964). They were interested in exploring whether men would differ significantly from
women (in same plant) in terms of their job satisfaction. They obtained measures of five separate
aspects of job satisfaction from 295 male workers and 163 female workers drawn from 4
different plants. The data was analyzed with respect to the mean job satisfaction of male and
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female workers. Analysis indicated that in 3 plants the female workers were significantly less
satisfied than their male counterparts while in the 4th plant there was no significant difference.
Schaffer (1953) has proposed the hypothesis that Overall satisfaction will vary directly with the
extent to which those needs of an individual which can be satisfied in a job are actually satisfied;
the stronger the need, the more closely will job satisfaction depend on its fulfillment. India
since independence has moved into an era of industrialization, economic prosperity and social
upliftment. For the achievement of those endeavor and industrial harmony the best possible use
of men and material is required. Men work to satisfy their needs and the extent of their need
satisfaction has adjustment value and it has been found that a large part of vocational
maladjustment and industrial unrest are secondary but a reflection of emotional maladjustment.
Singh (2005) found that job satisfaction is the result of various attitudes in all probability,
activated by a workers needs and their fulfillment (through work), a worker exhibits towards his
job, towards related factors and towards life in general. More explicitly explained a workers
experience of satisfaction or dissatisfaction with his job, or any aspect of it, in large part,
consequences of the extent of his positive or negative job attitude. Job satisfaction is just one
among many important attitudes that influence human behavior in the workplace. It is closely
related, for example, to organizational commitment the degree to which a person strongly
identifies with and feels a part of the organization and job involvement, the willingness of a
person to work, and apply efforts beyond normal job expectations.
According to Baron et al. (2006), studies have generally indicated a low to moderate inverse
relationship between job satisfaction and employee absence and turnover. This implies that the
lower an individuals satisfaction with his/her job, the more likely is that person to be absent
from work or to resign and seek other job opportunities.
Sahnawaz and Juyal (2006) focus on investigating the impact of job involvement and job
satisfaction on organizational commitment. Organizational commitment is considered to be one
of the most important and crucial outcomes of human resource strategies. Furthermore employee
commitment is seen as the key factor in achieving competitive performance.
Kates (1950) Job Satisfaction has remained a subject of interest for many research studies.
These studied have been carried out on the employees of different organizations and institutions.
The study of job satisfaction can perhaps be said to have begin in earnest with famous
Howthrone Studies, conducted by Elton Mayo at the Western Electric Company in 1920s.
Those engaged in Industrial Psychology up to this point had been much more interested in
examining the effects of physical conditions, equipment design and the productivity of
individuals. Elton Mayo and his co-workers started very much in this tradition, investigating the
effect of physical factors on productivity. During, the course of their investigations, however
they become concerned that factors of a social nature were affecting satisfaction with job and
productivity. The human relation school was born, which saw the function of the industrial
psychologist as seeking to improve the happiness of the workers and through this to improve
productivity. The implicit assumption was of course, that the satisfied worker produces more.
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Hackman & Oldham (1975) Hackman and Oldhams Job Characteristic Model (JCM) has
been used to determine the level of job satisfaction. The model focuses on five cores job
dimensions, skill variety, task identity, task significance, autonomy, and feedback, which in turn
influence three key psychological states: experienced meaningfulness of the work, experienced
responsibility for the work, and knowledge of results. These psychological states then influence
job satisfaction
Herzberg's (1968) theory effectively delineates the reasons job satisfaction. According to his
two-factor theory, there are motivational and hygiene factors present in one's job. Rewards and
benefits are hygiene factors, so if they are not present, they will bring dissatisfaction, but their
presence will not necessarily bring job satisfaction. Pritchard, Dunnette, and Jorgenson (1972)
indicate that feelings of underpayment lead to decreased performance and low productivity.
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OVERVIEW OF SONALI BANK LIMITED
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3.1 Origin of Modern Banking System:
For an economy is like as blood in a body and a bank may be compared to an artery system of a
body. Modern banking system is not a consequence of an accident but a result of a gradual
systematic development. Though history of banking is as old as human civilization but there
exists little historical evidence as to nature of real banking operation before 13th century. For the
earlier period, the destination between commercial bank and other types of banks is difficult to
make with certainty. It is very difficult for this early period to differentiate between the activities
of dealers in coin and in billion and the activities of bank. Money exchanger and business were
often viewed as one and the same.
According to the historians the first bank of the world was established in China in 600 B.C. by
the name of Sonali Bank. Although the banking business was mostly done by private individuals
like the gold smith 1000 Jewish Merchants (1200) and money lenders (1300) during the ancient
period, many countries established public banking order to facilitate trade and commerce or to
serve the government. The bank of Venice established in 1157 is supposed to be the most ancient
bank. Then the bank of Sans Georgia was established in 1178. Originally there was not full bank
in the 14 modern sense, being simply an office for the transfer of the public debt. It seems to the
historian that bank of Barcelona is the first modern bank of the world that was established in
Venice, Milan, Amsterdam, and Humbug. Majority of the historians agrees that the institutional
father of modern banking was the bank of England chartered in 1694. After it, many modern
banks were established in the world like Hindustan bank (1700), Bank of France (1800), Bank of
Japan (1982) act.
3.2 Development of Banking Business in Bangladesh:

After independence, there was serious crisis in the banking sector of Bangladesh. Out of 36
schedule banks, only two banks had three head offices in Dhaka. In the wake of liberation the
owners and top executives of these banks left Bangladesh after they had already transferred
resources to West Pakistan. The owners of the Union Bank Ltd. had also shifted its Head Office
from Chittagong to West Pakistan. All these created serious difficulty for Bank Management.
For the solution to this problem Bangladesh Bank was established as Central Bank. In 1971 there
were 12 scheduled banks with their 1090 branches in East Pakistan (Bangladesh). At that time all
banks except foreign banks were nationalized by Bangladesh Bank (Nationalization) order 1972.
Those entire newly nationalized banks were amalgamated and brought under six classes is that
Sonali, Janata, Agrani, Rupali, Uttara & Pubali Bank.
3.3 An Overview of Sonali Bank Limited:

Soon after independence of the country Sonali Bank emerged as the largest and leading
Nationalized Commercial Bank by proclamation of the Banks' Nationalization Order 1972
(Presidential Order-26) liquidating the then National Bank of Pakistan, Premier Bank and Bank
of Bhwalpur. As a fully state owned institution, the bank had been discharging its nation-
building responsibilities by undertaking government entrusted different socio-economic schemes
as well as money market activities of its own volition, covering all spheres of the economy. The
bank has been converted to a Public Limited Company with 100% ownership of the government
and started functioning as Sonali Bank Limited from November 15, 2007 taking over all assets,
liabilities and business of Sonali Bank. After corporatization, the management of the bank has
been given required autonomy to make the bank competitive & to run its business effectively.
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Sonali Bank Limited is governed by a Board of Directors consisting of 11 (Eleven) members.
The Bank is headed by the Managing Director & CEO, who is a well-known Banker and a
reputed professional. The corporate head quarter of the bank is located at Motijheel, Dhaka,
Bangladesh, the main commercial center of the capital.
3.4 An Overview of Mymensingh Corporate Branch of Sonali Bank Limited:

Mymensingh Corporate Branch of Sonali Bank Ltd. was established 1949. In this branch, 73
employees are working here at present. Among 73 employees 19 employees are female and rest
50 employees are male employee in this branch. As a branch manager, all activities are
supervised by Assistant General Manager (AGM) who is responsible for that. This branch is now
divisional head branch in which General Manager can control under all branches of this Sonali
Bank Ltd. of Mymensingh. This branch consists of AGM, three employees are Senior Principal
Officer, ten employees are Principal Officer, eleven employees are Senior Officer and rest
employees are officer or Officer Cash. In every year, this branch earns a big amount of money as
a revenue or profit. Finally, Mymensingh Corporate Branch takes a part of developing economic
growth of Bangladesh.
3.5 Profile Sonali Bank Limited:
Name of the Company : Sonali Bank Ltd.
Chairman : Mr. FazleKabir
CEO & Managing Director : Mr. Pradip Kumar Dutta
Company Secretary : Mr. A.K.A. SajedurRahman Khan
Legal Status : Public Limited Company
Date of Incorporation : 03rd June, 2007
Date of Vendors Agreement : 15th November, 2007
Headquarters : 35-42, 44 Motijheel Commercial Areas,

Dhaka, Bangladesh
Logo :
Authorized Capita : TK 66000.00 core
Paid-up Capital : TK3830.00 core
Employees : 22,446
Number of Branches : 1207
Phone-pabx : 9550426-31, 33, 34, 9552924
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Fax : 88-02-9561410, 9552007
SWIFT : BSONBDDH
Website : www.sonalibank.com.bd
E-mail : itd@sonalibank.com.bd
3.6 Some Notable Features of the Sonali Bank Ltd:

3.6.1 Capital Structure:
Authorised Capital Tk. 6000.00 Crore
Paid up Capital Tk. 3830.00 Crore
3.6.2 Branches & Subsidiaries:

1. Total No of Branches 1207
A. No of Foreign branches 2
B. No of Local branches 1205
I. No of Rural Branches 862
II. No of Urban Branches 343
2. No of Regional Offices 16
3. No of Principal Offices 46
4. No of G.M. Offices 11
3.6.3 Subsidiaries:
1. Sonali Exchange Company Incorporated (SECI) having 10 (Ten) branches in USA.

2. Sonali Investment Limited (Merchant Banking) having 4 (Four) branches at Motijheel,
Paltan, Uttara, Mirpur in Dhaka and 1 (One) branch in Khulna, Bangladesh.
3.6.4 Associates:
1. Sonali Bank (UK) Limited having 6 (Six) branches in UK.
2. Sonali Polaris FT Limited.
3.6.5 Representative offices: 03 (Three)

1. 1(One) in Jeddah,KSA;
2. 1 (One) in Riyadh, KSA and
3. 1 (One) in Kuwait.
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3.6.6 Correspondence: 639
3.7 Mission of Sonali Bank Limited:

Dedicated to extend a whole range of quality products that support divergent needs of people
aiming at enriching their lives, creating value for the stakeholders and contributing towards
socio-economic development of the country.
3.8 Vision of the Sonali Bank Limited:

Socially committed leading banking institution with global presence.
3.9 Slogan of Sonali Bank Limited:

Your trusted partner in innovating banking.
3.10 Digitalization status of Sonali Bank Limited:

1. Branch Computerization: 1196 branches are now computerized.
2. Foreign Remittance: Bank's own in-house software "Remittance Management System"
(RMS+), having, among others, the feature of paying foreign remittance instantly over
the counter is being implemented at all branches. This web based software provides
digital services to the expatriates through its unique advantage of sending confirmation
message to the mobile phone of the remitter/beneficiary.
3. ATM: Sonali Bank Limited is a member of Q-Cash Consortium, National Payment Switch
Bangladesh (NPSB) and VISA. Customers can enjoy round the clock cash withdrawal
facility from 75 own ATM(s) and around 6500+ shared ATM booths across the country.
Sonali Bank recently launched Credit Card.
4. Online and SMS Banking: At present 1192 branches of Sonali Banks are included in
the Online Any Branch Banking (ABB) network. SMS Banking service is runnig in 502+
branches. 1192 branches are now in automation network within 1205 branches at home.
Total number of CBS running branch is 502. The bank is seriously working on
connecting all branches in the Real-time Online Banking network gradually. Branches
having ABB facility are also rendering SMS banking services.
3.11 Function of Sonali Bank Limited:

Main functions of Sonali Bank are:-
i. Receiving of money on deposits,
ii. Conducting cash transaction of customers who have current account,
iii. Attending bills of exchange and drafts of customers,
iv. Sanction of loan,
v. Providing other services to the customers,
vi. Transfer of money,
vii. Collection of receipts,
viii. Collecting interest, dividends, rents, pensions, etc.
ix. Act as an advisor.
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3.12 Strategy of Sonali Bank Limited:
To operate the Bank in the most efficient manner to enhance financial performance and to
control cost of fund.
To endeavor for customer satisfaction through quality control and delivery of timely
services.
To identify customers' credit and other banking needs and monitor their view towards our
performance in meeting those requirements.
To review and update policies, procedures and practices to boost the ability to extend
better service to customers.
To train and develop all employees and provide them enough resources so that customer
needs can be convincingly addressed.
To encourage organizational effectiveness by openly communicating company plans
policies, practices and procedures to employees in a timely fashion.
To grow a working environment that encourages positive motivation for improving
performance.
To increase direct contact with customers in order to nurture a closer relationship
between the bank and its customers.
3.13 Objectives of Sonali Bank Limited:

The prime objective of Sonali Bank Limited is to promote foster and develop the application of
Commercial Principles, law and tradition to the transaction of financial banking and related
business affairs. It has also been looking forward to promote Investments Companies, Enterprise
and other related concern, engaged in such business that is acceptable and consistent with
commercial principles, law and tradition.
Title objectives of Sonali Bank Limited in the context of its role in the economy may be
enumerated as follows:
To earn customer satisfaction through diversified banking activities and introduction of
innovative banking.
To improve the customer services in recent times by introducing a number of IT-based
reform measures.
To remain one of the best banks in Bangladesh in terms of profitability and Assets
Quality.
To ensure an adequate rate of return on investment.
To maintain adequate liquidity to meet maturing obligations and commitments.
3.14 Corporate Culture:

Employees of Sonali Bank Limited share certain common values, which helps to create a Sonali
Bank Limited culture-
Largest amount of Customer.
Search for professional excellence.
Openness to new ideas & new methods to encourage creativity.
Quick decision-making.
Flexibility and prompt response.
A sense of professional ethics.
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3.15 Sonali Bank at a Glance:
Sonali Bank Limited is one of the largest public banks in Bangladesh. Recently it is going to
introduce shares. It operates through One Head Office, 30 main divisional offices, 11 General
Managers Office, 46 Principal Office, 16 Regional Office and 1184 fully computerized
branches, ensuring best possible and fastest services to its valued clients and efficient
management.
3.16 Corporate Governance of Sonali Bank Limited:

Corporate Governance of Sonali Bank Ltd. is defined as the framework by which the bank is
directed and controlled and the relationships between the management, the Board of Directors,
shareholders and other stakeholders such as employees, clients and lenders. The aim of the
Corporate Governance framework is to ensure disclosure and transparency, to define the
responsibilities of the board and the management, to define the rights and role of shareholders
and stakeholders, to ensure the equitable treatment and to avoid conflicts of interests. It is the
behalf of the management and the Board that banks lend money that is in effect borrowed from
depositors and the failure of banks could result in a monetary loss for the depositors. The interest
of depositors should be protected and for this reason amongst others, the importance of corporate
governance of banks differs from that of other companies and needs special attention. The bank
adopted the following strategies and techniques to ensure the application of corporate
governance in attaining its objectives with efficiency and transparency.
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3.17 Organ gram of Sonali Bank Limited:
Chairman
Board of Directors
Managing Director & CEO
Deputy Managing Director

(DMD)
General Manager (GM)
Deputy General Managing

(DGM)
Assistant General Managing

(AGM)
Senior Executive Officer

(SEO)
Executive Officer (EO)
Senior Officer (SO)
Officer
Junior Officer
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3.18 Center Board of Directors of Sonali Bank Limited:
Sonali Bank is governed by Board of Directors consisting of 11 (eleven) members headed by a
Chairman. The other members are distinguished representatives from both private and public
sectors. The Bank is headed by the Managing Director (Chief Executive Officer), who is a well-
known Banker and a reputed professional. The head office of the bank along with its corporate
structure is located at Motijheel, Dhaka, and the main commercial center of the capital.
Sl. No. Name Designation

1. Mr. Fazle Kabir Chairman
2. Mr. Ranjit Kumar Chakraborty Director
3. Mr. Md. Nazibar Rahman Director
4. Mr. Shekhar Dutta Director
5. Mrs. Selima Ahmad Director
6. Mr. Md. Shaheb Ali Mridha Director
7. Mr. Md. Mahboob Hossain Director
8. Mr. Kazi Tariqul Islam Director
9. Mr. Md. Enamul Haque Choudhury Director
10. Mr. A.K.M Rezaur Rahman Director
11. Mr. PRADIP KUMAR DUTTA CEO & MD
3.19 Management of Sonali Bank Limited:

The Board of Directors is the top management and apex policy-making body of Sonali Bank,
which is constituted in terms of the Bangladesh Banks (Nationalization) Order, 1972. The Board
of Directors has autonomy to organize, operate and manage its affairs on commercial
consideration subject to broad policy of the government. Presently, the Board consists of a
Chairman and eight Directors appointed by the Government. It is to be noted that the Managing
Director, a Government appointee, is also a member of the Board. The Directors are appointed
from amongst people who, in the opinion of the Government, have had experience and shown
capacity in the field of finance & banking, trade, commerce, industry or agriculture. The
Managing Director (MD) is the Chief Executive of the Bank. He executes all the activities under
the direction of the Board. The banking officers of the Bank are selected by the Bankers
Recruitment Committee (BRC) and the other line and staff personnel are appointed by the
Banks own Recruitment Committee.
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3.20 Central Management Hierarchy of Sonali Bank Limited:
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3.21 Core Business of Sonali Bank Limited:
Corporate Banking Trade Finance Government Treasury

Project Finance Loan Syndication Function
SME Finance Foreign Exchange Money Market
Remittance Dealing Operation
Lease Finance International Trade Rural and Micro credit
Consumer Credit NGO-Linkage Loan
Investment Capital Market
Operation
Special Small Loan
3.21.1 Other Business/Services:
Government Treasury Bonds Utility Bills Collection

Locker Service Ancillary Services
A.T.M. Card Merchant Banking
3.21.2 Islamic Banking Services:
1. Deposit Products 2. Investment Products
Al-Wadeeah Current Account(AWCA) Bai-Murabaha

Mudaraba Savings Account(MSA) Bai-Muajjal
Mudaraba Special Notice Deposit Bai-Salam
Account(MSNDA) Bai-Istisna
Mudaraba Term Deposit Hire Purchase Under Shirkatul
Account(MTDA) Melk(HPSM)
Mudaraba Hajj Saving
Account(MHSA)
Mudaraba Sonali Monthly Deposit
Scheme(SMDS)
Mudaraba Monthly Profit
Scheme(MMPS)
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3.22 SWIFT:
Society for Worldwide Interbank Financial Telecommunication (SWIFT) facilities are available
in Banks Head Office and in 23 designated branches.
3.23 Government Intervention:

Financial services have traditionally been the subject of close government scrutiny and it is to be
expected that exchange rates, interest rates and terms of credit should be closely monitored in the
public interest. In the recent years, however, governments have tried to use interest rates, credit
regulations and informal controls on banks as a means of managing the supply of money in the
economy in an effort to increase or reduce consumer spending and to hold back or promote
investment by business. During the 1976 to now, the effect of these policies has been to add a
new dimension of risk and uncertainty to financial markets which were already fluctuation
wildly because of the oil crisis, the commodity boom, increasing inflation and controlled
exchange rates. Besides government is a big problem for the nationalized bank in Bangladesh.
Government forces to the nationalized bank to insider lending, lend to governments priority
sector, state-owned enterprises, sick industries, borrowers with political influence as well as
provide exemption schemes to fulfill its pre-election commitment. The loan exemption program
of 1986-87 and 1991-92 exempted 11.37 percent and 25.56 percent respectively of total bank
loan outstanding. As a result, nationalized commercial banks are burdened with very large
classified loans (32 percent of total loans) against which very large provisions had to be made
which affected profit position adversely. Classified loans in the countrys banking sectors on
June 30, 1996 amount to 33.0 percent of total loans. It was 34.9 percent as on December 31,
1993. However, net income of local banks is drastically reduced, as the required to maintain very
large provisions for bad debts and interest suspense accounts.
3.24 Core Values:

Sonali Bank Limited (SBL)s Core Value proposition consists of ten key elements. The values
would assist the bank in perceiving its employees to work as a team towards accomplishment of
assigned duties and responsibility for achievement of desired objectives.
Team work: Open communication, discussion and interaction amongst the employees
would ensure unification of actions and efforts towards achieving the common goal.
Ethics: Everyone must ensure adherence to ethical practices of banking.
Objectivity: persons will have definite objective in carrying out their tasks.
Integrity: Protection and safeguard of customers interest is a vital element for societal
trust.
Excellence: Excellent performance and effectiveness are preconditions to ensure quality
service to the large customer base of the bank.
Page | 20
Figure : Core Values
Innovation: New and innovative products are the needs of the time for which continuous
action oriented researches are carried out.
Commitment: Every employee is committed to work up to the expected level to ensure
satisfaction of valued customers.
Self-Reliance: Each employee will have ownership attitude towards the bank and self
confidence in his work for betterment of the bank.
Transparency: Information is to be kept open for all so that stakeholders can have
proper ideas about the banks activities.
Accountability: All employees are responsible for their activities and will remain
accountable to their respective superior for accomplishment of tasks.
3.25 Core Strengths:
Transparent and Quick Decision Making.

Efficient Team of Performer.
Satisfied Customers.
Internal Control.
Skilled Risk Management.
Diversification.
3.26 Core Competencies:
Knowledge
Experience & Expertise.
Customer Orientation/ Focus.
Transparency.
Determination.
Zeal for Improvement.
Reliability.
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3.27 Market Share:
Particulars 2011 year 2012 year 2013 year 2014 year

Number of Share of 4.35 7.29 10.93 12.25
Outstanding
Earnings Per Share 22.78 25.86 31.82 32.12
Book Value Per Share 188 175 219 185
Market Price Per Share 266 266 235 275
Table: Market Share
3.28 International Banking:
Sonali Bank Limited expertise in International Banking has a record of in-house growth over
more than half a century. Its pioneer role in handling foreign trade and foreign exchange
transactions ever before independence of the country still remains unchallenged. With wide
network of branches at home and also a large number of correspondent banks world-wide it is
singularly handling the largest volume of export-import business including home-bound
remittances.
Products & Services:
Export Credit (Pre-shipment & Post shipment)

Facilitating Supplier's Credit
LCs (Letters of Credit)
Guarantees in Foreign Currency
Bid Bond
Performance Guarantee
Advance Payment Guarantee.
Bill Purchasing/Discounting
Remittance, collection, purchases & sales of Foreign Currency & Traveller's Cheques.
NRAT (Non-Resident Account in Taka)
NFCD A/c (Non-Resident Foreign Currency Deposit)
RFCD A/c (Resident Foreign Currency Deposit)
Convertible and Non-convertible Taka Account
Forward contracts
Correspondent Banking Relations
Import Finance:
Sonali Bank Limited supports its customers by providing facilities throughout the import process
to ensure smooth running of their business. The facilities are:
Import Letter of Credit.

Post Import Financing (LIM, LTR etc.).
Import collection services & Shipping Guarantees.
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Interest Rate: 12% to 14%
Export Finance:
Sonali Bank Limited offers extra cover to its customers for whole export process to speed up
receipt of proceeds. The facilities are:
a. Export Letters of Credit advising.

b. Pre-shipment Export Financing.
c. Export documents negotiation.
d. Letter of Credit confirmation.
Interest Rate: 7% + 1% service charge
3.29 Award of Sonali Bank Limited:
Sonali Bank Ltd, the largest commercial bank of the country, received best brand award
from Bangladesh Brand Forum, a wing of international survey organization Nielsen.
Mustaque Ahmed, managing director and CEO (additional charge), received the award
on recently on behalf of the bank at a city hotel, said a press release.
It is noted that Sonali Bank Limited was also awarded the same consecutive previous two
years.
Nealsen Bangladesh has been conducting this survey since 2008 in Bangladesh.
Generally customers satisfaction, retail market share and sustainability were the main
focus of the survey.
In Bangladesh, Nealsen Bangladesh carries out their survey in 19 different sectors.
According the survey mass people regard Sonali Bank as the bank of all class.
Page | 23
CONCEPTUAL FRAMEWORK
Page | 24
4.1 Concept of Job Satisfaction:
Job satisfaction refers to a persons feeling of satisfaction on the job, which acts as a motivation
to work. It is not the self satisfaction, happiness or self contentment but the satisfaction on the
job. The term relates to the total relationship between an individual and the employer for which
he is paid. Satisfaction does mean the simple feeling-state accompanying the attainment of any
goal; the end-state is feeling accompanying the attainment by an impulse of its objectives.
Research Employees differently described the factors contributing to job satisfaction and job
dissatisfaction.
Hoppock describes job satisfaction as, Any combination of psychological, physiological and
environmental circumstances that cause any person truthfully to say I am satisfied with my job.
The term job satisfaction refers to an employees general attitudes toward his job.
There are three major theories of job satisfaction viz, (Hoppock 1998).
I. Herzbergs Motivation-Hygiene Theory.
II. Need Fulfillment Theory.
III. Social Reference Group Theory.
Locke defines job satisfaction as a Pleasurable or positive emotional state resulting from the
appraisal of ones job or job experience, to the extent that persons job fulfill his dominant need
and is consistent with his expectations and values .
Smith Kendall and Hulin have suggested that there are five job dimensions that represent the
most important characteristics of a job about which people have affective responses, these are:
1. The work itself: The extent to which the job provides the individual with the interesting
task, opportunities for learning and the chance of accept responsibility.
2. Pay: The amount of financial remuneration that is received and the degree to which this
is viewed as equitable vis-a-vis that of others in the organization.
3. Promotion opportunities: The chance for advancement in the hierarchy.
4. Supervision: The ability is on the supervision to provide technical assistance and
behavioral support.
5. Co-Employees: The degree to which follow Employees are technically proficient and
socially supportive.
However, a comprehensive approach requires that may additional factors be included before a
complete understanding of job satisfaction can be obtained. Such factors as the employees are,
health, temperament, desires and levels of aspiration should be considered. Further, his family
relationship, social status, recreational or purely social-contribute ultimately to job satisfaction.
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4.2 Effects of job satisfaction:
Job satisfaction has a variety of effects. These effects may be seen in the context of an
individuals physical and mental health, productivity, absenteeism, and turnover.
Wage Promotion Training

Opportunity
Working Condition JOB Work Group

SATISFACTION
Work Facilities Supervision
Figure: Factors affecting Job Satisfaction
1. Physical and Mental Health: The degree of job satisfaction affects an individuals
physical and mental health. Since job satisfaction is a type of mental feeling, its
favorableness or unfavorableness affects the individual psychologically which ultimately
affects his physical health. For example, Lawler has pointed out that drug abuse,
alcoholism and mental and physical health result from psychologically harmful jobs.
Further, since a job is an important part of life, job satisfaction influences general life
satisfaction. The result is that there is spillover effect which occurs in both directions
between job and life satisfaction.
2. Productivity: There are two views about the relationship between job satisfaction and
productivity:
- A happy Employee is a productive Employee,
- A happy Employee is not necessarily a productive Employee.
The first view establishes a direct cause-effect relationship between job satisfaction and
productivity; when job satisfaction increases, productivity increases; when satisfaction decreases,
productivity decreases. The basic logic behind this is that a happy Employee will put more
efforts for job performance. However, this may not be true in all cases. For example, a Employee
having low expectations from his jobs may feel satisfied but he may not put his efforts more
vigorously because of his low expectations from the job. Therefore, this view does not explain
fully the complex relationship between job satisfaction and productivity.
Another view: That is a satisfied Employee is not necessarily a productive Employee explains
the relationship between job satisfaction and productivity. Various research studies also support
this view. This relationship may be explained in terms of the operation of two factors: effect of
job performance on satisfaction and organizational expectations from individuals for job
Page | 26
performance. Job performance leads to job satisfaction and not the other way round. The basic
factor for this phenomenon is the rewards (a source of satisfaction) attached with performance.
There are two types of rewards-intrinsic and extrinsic. The intrinsic reward stems the job itself
which may be in the form of growth potential, challenging job, etc. The satisfaction on such a
type of reward may help to increase productivity. The extrinsic reward is subject to control by
management such as salary, bonus, etc. Any increase in these factors does not heap to increase
productivity though these factors increase job satisfaction.(Robbins 1997).
3. Absenteeism: Absenteeism refers to the frequency of absence of job holder from the
workplace either unexcused absence due to some avoidable reasons or long absence due
to some unavoidable reasons. It is the former type of absence which is a matter of
concern. This absence is due to lack of satisfaction from the job which produces a lack
of will to work and alienate a Employee form work. Thus, job satisfaction is related to
absenteeism.
4. Satisfaction and Safety: Poor safety practices are negative consequences of low
satisfaction level when people are discouraged about their job satisfaction. Company and
supervisor, they are more liable to experience accidents. And underlying reason for such
accidents is that discouragement, may take ones attention away from the task at hand. In-
attention leads to accidents.
5. Employee turnover: Turnover of employees is the rate at which employees leave the
organization within a given period of time. When an individual feels dissatisfaction in the
organization, he tries to overcome this through the various ways of defense mechanism.
If he is not able to do so, he opts to leave the organization. Thus, in general case,
employee turnover is related to job satisfaction. However, job satisfaction is not the only
cause of employee turnover, the other cause being better opportunity elsewhere. For
example, in the present context, the rate of turnover of computer software professionals is
very high in Bangladesh. However, these professionals leave their organizations not
simply because they are not satisfied but because of the opportunities offered from other
sources particularly from foreign companies located abroad.
4.3 Benefits of Employees Job Satisfaction:
One benefit of employee job satisfaction survey is that they give management an
indication about the general level of satisfaction in a company. Survey also indicates
specific areas of satisfaction and dissatisfaction.
Improved communication is another benefit of the survey.
An unexpected benefit from a job satisfaction survey is improved attitudes. For some
employees the survey is improved attitudes. For some employees the survey is a safety
value, an emotional release, change to get things of their chests.
Job satisfaction survey can help discover the causes of indirect productivity problems
such as absenteeism, turnover and poor quality of work.
Another benefit of job satisfaction survey is that it helps management assessing training
needs.
A job satisfaction survey is an indicator of the effective system of organizational reward
system.
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One of the best uses of the job satisfaction survey is in the evaluation of the impact of
organizational changes of the employees attitude.
4.4 Models of Job Satisfaction:
1. Affect Theory:
Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job satisfaction
model. The main premise of this theory is that satisfaction is determined by a discrepancy
between what one wants in a job and what one has in a job. Further, the theory states that how
much one values a given facet of work (e.g. the degree of autonomy in a position) moderates
how satisfied/dissatisfied one becomes when expectations are/arent met. When a person values
a particular facet of a job, his satisfaction is more greatly impacted both
positively(when expectations are met) and negatively (when expectations are not met), compared
to one who doesnt value that facet. To illustrate, if Employee A values autonomy in the
workplace and Employee B is indifferent about autonomy, then Employee A would be more
satisfied in a position that offers a high degree of autonomy and less satisfied in a position with
little or no autonomy compared to Employee B. This theory also states that too much of a
particular facet will produce stronger feelings of dissatisfaction the more a worker
values that facet. (Edwin A. Lockes 1976)
2. Dispositional Theory:
Another well-known job satisfaction theory is the Dispositional Theory. It is a very general
theory that suggests that people have innate dispositions that cause them to have tendencies
toward a certain level of satisfaction, regardless of ones job. This approach became a notable
explanation of job satisfaction in light of evidence that job satisfaction tends to be stable over
time and across careers and jobs. Research also indicates that identical twins have similar levels
of job satisfaction. A significant model that narrowed the scope of the Dispositional Theory was
the Core Self evaluations Model, proposed by (Timothy A. Judge in 1998). Judge argued that
there are four Core Self-evaluations that determine ones disposition towards job satisfaction:
self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher
levels of self-esteem (the value one places on his/her self) and general self-efficacy (the belief in
ones own competence) lead to higher work satisfaction. An internal locus of control (believing
one has control over her\his own life, as opposed to outside forces having control) leads to higher
job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction.
3. Two-Factor Theory (Motivator-Hygiene Theory):

Frederick Herzbergs Two factor theory (also known as Motivator Hygiene Theory) attempts to
explain satisfaction and motivation in the workplace. This theory states that satisfaction and
dissatisfaction are driven by different factors motivation and hygiene factors, respectively. An
employees motivation to work is continually related to job satisfaction of a subordinate.
Motivation can be seen as an inner force that drives individuals to attain personal and
organization goals. Motivating factors are those aspects of the job that make people want to
perform, and provide people with satisfaction, for example achievement in work, recognition,
promotion opportunities. These motivating factors are considered to be intrinsic to the job, or
Page | 28
4.5 Determinants of Job Satisfaction:
I. Compensation: Employee compensation refers to all forms of pay or rewards going to

employees and arising from their employment. It has main two main components direct
financial payments (wages, salaries, incentives, commission and bonuses) indirect
payments (paid insurance, vacation).
II. Satisfaction About Fringe Benefits: Non monetary benefits offered to the employees of
a company in addition to their wages and salaries. They include company cars, expense
account the opportunity to buy company products at reduce rate. Private health plans,
canteens subsidies meals, social club. Some of these benefits such as company cars do
not escape the tax net.
III. Promotion System: Timely promotion of employees next to higher rank is also
important determinant of job satisfaction. If there is any specific promotional ruled in the
organization that will definitely lead to better job satisfaction of the employees.
IV. Posting and Transfers: In an organization there should be specific system posting and
transfer .While posting and transfer some specific rules must be follows. These might
have positive impact on the job satisfaction of employees.
V. Non Financial Incentives: Non financial incentives are form of childrens school
facilities, hospital facilities, employees transportation facilities, prayer facilities etc. Also
act as an important determinant of employees job satisfaction.
VI. Job Status: The position of job that is job status is also an important determinant of job
satisfaction of employees. Such job status of an employee influences job satisfaction
positively.
VII. Health Care: This factor examines the extent to which an employee is satisfied with
health care benefits and includes the quality of the health benefits, the size of the
employers contribution to the plan and the cost to the employee of the health care
benefits.
VIII. Income Continuation: This factor examines the extent to which an employee is satisfied
with benefits that provide financial security if the employee is disabled due to an accident
or poor health or loses his or her job involuntarily. With the exception of long term
disability, these are legally required benefits which consist of social security, workers
compensation and unemployment compensation.
IX. Superior-Subordinate Communication: Superior-subordinate communication is an
important influence on job satisfaction in the workplace. The way in which subordinates
perceive a supervisors behavior can positively or negatively influence job satisfaction.
Communication behavior such as facial expression, eye contact, vocal expression, and
body movement is crucial to the superior-subordinate relationship. Nonverbal messages
play a central role in interpersonal interactions with respect to impression formation,
deception, attraction, social influence, and emotional expression. Nonverbal immediacy
from the supervisor helps to increase interpersonal involvement with their subordinates
impacting job satisfaction. The manner in which supervisors communicate their
subordinates may be more important than the verbal content Individuals who dislike and
think negatively about their supervisor are less willing to communicate or have
motivation to work where as individuals who like and think positively of their supervisor
are more likely to communicate and are satisfied with their job and work environment.
The relationship of a subordinate with their supervisor is a very important aspect in the
Page | 29
workplace. Therefore, a supervisor who uses nonverbal immediacy, friendliness, and
open communication lines is more willing to receive positive feedback and high job
satisfaction from a subordinate where as a supervisor who is antisocial, unfriendly, and
unwilling to communicate will naturally receive negative feedback and very low job
satisfaction from their subordinates in the workplace.
X. Emotions: Mood and emotions form the affective element of job satisfaction. Moods
tend to be longer lasting but often weaker states of uncertain origin, while emotions are
often more intense, short-lived and have a clear object or cause. There is some evidence
in the literature that moods are related to overall job satisfaction. Positive and negative
emotions were also found to be significantly related to overall job satisfaction. Frequency
of experiencing net positive emotion will be a better predictor of overall job satisfaction
than will intensity of positive emotion when it is experienced. Emotion work refers to
various types of efforts to manage emotional states and displays. Emotion management
includes all of the conscious and unconscious efforts to increase, maintain, or decrease
one or more components of an emotion. Although early studies of the consequences of
emotional work emphasized its harmful effects on workers, studies of workers in a
variety of occupations suggest that the consequences of emotional work are not uniformly
negative. It was found that suppression of unpleasant emotions decreases job satisfaction
and the amplification of pleasant emotions increases job satisfaction. The understanding
of how emotion regulation relates to job satisfaction concerns two models: Emotional
dissonance Emotional dissonance is a state of discrepancy between public displays of
emotions and internal experiences of emotions that often follows the process of emotion
regulation. Emotional dissonance is associated with high emotional exhaustion, low
organizational commitment, and low job satisfaction. Social interaction model taking the
social interaction perspective, workers emotion regulation might beget responses from
others during interpersonal encounters that subsequently impact their own job
satisfaction.
XI. Relationships and Practical Implications: Job Satisfaction can be an important
indicator of how employees feel about their jobs and a predictor of work behaviors such
as organizational citizenship, absenteeism, and turnover. Further, job satisfaction can
partially mediate the relationship of personality variables and deviant work behaviors.
One common research finding is that job satisfaction is correlated with life satisfaction.
This correlation is reciprocal, meaning people who are satisfied with life tend to be
satisfied with their job and people who are satisfied with their job tend to be satisfied
with life. However, some research has found that job satisfaction is not significantly
related to life satisfaction when other variables such as non work satisfaction and core
self-evaluations are taken into account.
XII. Job Security: Job security refers to the nature of the job that is whether a job is
permanent, temporary or ad hoe. Job security acts as an important determinant of job
satisfaction.tha more the job security the better the job satisfaction and vice versa.
XIII. Duration of Work: The working hour that is the duration of work acts an important
determinant for job satisfaction of employees. Such duration of work must be reasonable.
In some organizations employees has to work beyond the normal duration which
adversely affects of their job satisfaction.
XIV. Training Facilities: Training is widely considered as an important tool for enhancing a
persons attitude, skill and knowledge. It is the process of assisting a person for
Page | 30
developing his efficiency and effectiveness at work by improving updating professional
knowledge and skill. Such training facilities act as an important determinant for job
satisfaction of an employee he more the training facilities the better the job satisfaction
and vice and versa.
XV. Paid Leave: Any leave facility with full pay acts as a direct influence on the job
satisfaction of employee. On the other hand leave without pay imposes adverse impact on
the job satisfaction of the employee.
XVI. Working Environment: It also has a direct influence on the job satisfaction of the
employee. The working environment must be congenial to the employees. Any
unfavorable working environments will adversely affect to the job satisfaction of the
employee.
XVII. Participation Management System: Participation management system where every
officer can participate in the decision making process has a positive impact on the job
satisfaction of the employees. The more presence of participatory management system in
the organization improves job satisfaction and vice verse.
XVIII. Team Work: Team work also acts as important determinant of a job satisfaction of an
employee. In case of team work the concerted effort of the employee can be ensured.
XIX. Seniors Behavior: Cordial behavior of the seniors toward their juniors also has positive
impact on the job satisfaction of the employees. The opposite version is also true.
XX. Participation in Decision Making: Participation of the employees in the decision
making process in an organization is another important determinant of a job satisfaction
of the employees. The more participation of the employees in decision making process it
makes job satisfaction high.
XXI. Occupational Stress: Job satisfaction of any employee depends on occupational stress
.Generally the occupational stress has significant adverse impact on their job satisfaction.
Moreover, the employees with lower occupational stress should have higher job
satisfaction and, on the contrary, the employees with higher occupational stress should
have lower job satisfaction.
XXII. Nature of Work: Job satisfaction of an employee also depends on nature of work. If the
nature of work is more complicated, probably this will lead to negative impact on job
satisfaction and vice versa.
XXIII. Retirement Benefits: This factor examines the extent to which an employee is satisfied
with the retirement benefits including the quality of the plan, the size of the employers
contribution to retirement, and the employers ability to provide information about the
retirement benefits.
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ANALYSIS AND FINDINGS
Page | 32
Analysis: 1
Components that Prompt Job Satisfaction of the Employees:
According to studies conducted by Hoppock, the important factors that matter in job satisfaction
are:
1) Financial: It goes without saying that the financial considerations like fair wages, do matter in
job satisfaction, but apart from that there are good many other things that influence job
satisfaction. These are:
Relative status, which an individual holds within the economic and social groups with
which he identifies himself.
2) Relationships with supervisors and associates on the job.
3) Work situations, including the nature of work.
4) Working conditions-earnings, hour of work, facilities, etc.
5) Greater opportunities for advancement.
6) Variety in work, that does away with the dullness and monitoring of work.
7) Thrill and excitement of the work.
8) Job security-steady employment.
9) Ability to adjust oneself to unpleasant circumstances.
In 1959, psychologist Frederick Herzberg and his associates in their research report findings
entitled The Motivation of Work in Pittsburgh have stated that five factors are important in job
satisfaction and these are:
2) Achievement: It brings to the workers, feelings that he has done something of which he could
naturally be proud of. He feels satisfied and pleased with his achievements.
3) Recognition: If the workers supervisors, recognizing his good work, appreciate and say a
word or two of praise and gives a pat at his back for good quality of product, he has turned out,
the worker feels, his achievement has been recognized and so he gets job satisfaction.
4) The Work Itself: The job that involves work, which is interesting, challenging and has
variety all through, from the beginning to the end, itself stands complimented and afford job
satisfaction to the worker.
5) Responsibility: Jobs done by the workers of their own initiatives, with full responsibility and
without being supervised, merits consideration with the workers, as having been well
accomplished and thus workers feel very much satisfied with their jobs.
6) Advancement: Sudden promotion of the employees in recognition of his good work, caused
the employees much satisfaction about his job.
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Analysis: 2
Measurement the Level of Job Satisfaction of Employees:
In below, I targeted my sample size as 35. Collected data is analyzed using Microsoft Excel,
2007The findings part requires 15 questions, each question has 5 options and those question
answers with graphical presentation. The data of each questions were used for analyzing the
level of job satisfaction of employees of Sonali Bank Ltd at Mymensingh Corporate Branch.
Level of job satisfaction measured through strongly agree to strongly disagree with percentage.
The findings from each of the questions are given below with analysis:
Question No: 1
Are you satisfied with your regular assigned activities?
Analysis & Findings:
Are you satisfied with your regular assigned

activities?
Disagree Strongly Disagree
6% 0%
Neutral Agree
26% 40%
Strongly Agree
28%
For this question 5 options in each question given to the employees from the stage of strongly
agreeto strongly disagree including neutral to choose their desired answer. Among 35 the
employees, 40% were agreed, 26% were neutral and 28% were strongly agreed with their
opinion. Some employees of Sonali Bank ltd. at Mymensingh Corporate Branch are agreed with
their satisfaction in regular activities because they get habituated and became experienced with
their assigned jobs. But 26% of employees are neutral because they get bored in their day to day
repetitive activities. 6% are disagree due to some factors. Strongly disagree 0% of the employees
of this opinion. They think that there is less space to learn jobs of the peers.
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Question No: 2
Do you think that the leaders in your organization are positive role models to you?
Do you think that the leaders in your

organization are positive role models to you?
Strongly Disagree
0%
Disagree
11%
Neutral Agree
20% 43%
Stongly Agree
26%
Here among 35 employee, 43% employees of Sonali Bank Ltd, Mymensingh Corporate Branch
are agreed with this opinion about their leaders are acting as a positive role model to them.20%
of employees remain neutral about it and about 26% of employees strongly agreed with it. Most
of the employees of Sonali Bank ltd. which is about 26% strongly agreed because the leaders that
they had from the beginning of their job were so active, professional and helpful. 20% of
employee are neutral because they are fresher and dont get that chance to learn from the leaders.
11% of the employees are disagree due to some reasons. Strongly disagree
0% of the employees of this opinion.
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Question No: 3
Does the supervisor keeps you well informed about whats going on in the company?
Does the supervisor keeps you well informed

about whats going on in the company?
Agree Strongly Agree Neutral Disagree Strongly Disagree
0%
6%
15% 30%
49%
Almost 49% employees of Sonali Bank Ltd, Mymensingh Corporate Branch are strongly agreed
with this opinion But 30% employees of Sonali Bank Ltd. are agreed and 6% disagreed about
this fact.The supervisors always try to provide updated information to each and every level of
employees within the branch. So that about 49% employee strongly agreed and 30% agreed
which means that they are well informed by the supervisors, whereas other 6% employees of
branch are disagreed and strongly disagree 0% of the employees of this opinion and 15% of the
employees are neutral of this opinion. From their point of view, they are not actually informed
well by the supervisors about whats going on in the branch or entire organization.
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Question No: 4
Do you think that your views and participation are valued in the company?
Do you think that your views and participation

are valued in the company?
0%
6%
8%
20%
66%
Among 35 of employees 20% were strongly agreed, 66% agreed, 6% disagreed and 8% were
neutral and 0% of the employees are strongly disagree. They think that senior level staffs ignore
to take their views in real life situation and their active participation in any project is not
recognized as well in Sonali Bank Ltd, Mymensingh Corporate branch.
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Question No: 5
Does the supervisor care most important to you?
Does the supervisor care most important to you?

Disagree
3%
Neutral
11%
Strongly Agree
23%
Agree
63%
Among 35 employees, 23% employees were strongly agreed whereas 63% agreed and 11%
employees were neutral and 3% are disagree because their opinion says that the supervisors are
cared for selective staffs. They think that biasness is one of the reasons behind it.
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Question No: 6
Are you satisfied with the professionalism of the people with whom you work?
Are you satisfied with the professionalism of the people with

whom you work?
Agree Strongly Agree Neutral Disagree Strongly disagree
17%
0%
46%
14%
23%
In case of this question most of the employees which is about 14% were neutral and 46% were
agree and 23% of the employees are strongly agree that they are satisfied with the
professionalism of the staffs with whom he or she works. But 17% employees of Sonali Bank ltd,
Mymensingh Corporate Branch were strongly disagreed because the behaviors and attitudes of
few employees never show that they are professional in this branch.
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Question No: 7
Do you feel flexible with the team spirit in your work environment?
Do you feel flexible with the team spirit in your work

environment?
Agree Strongly agree Neutral Disagree Strongly Disagree

0%
10% 7%
42%
41%
Here about 41% of staffs strongly agreed, 42% of the staffs were agreed because they feel
flexible with the team spirit in their work .But 10% of the staffs were neutral about this fact
because from their point of view senior level staffs treat junior level staffs as less experienced for
the team work and 7% of the employees are disagree due to some factors. So that executive level
of employees doesnt feel flexible to work with fresher.
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Question No: 8
Does your work give you a feeling of personal accomplishment?
Does your work give you a feeling of personal

accomplishment?
Agree Strongly Agree Neutral Disagree Strongly Doisagree
26%
30%
7%
37%
Among 35 employees, 37% of employees were strongly agreed whereas most of employee of
Sonali Bank Mymensingh Corporate Branch were agreed which is about 30% because they think
that their job gives them a feeling of personal accomplishment. But 26% employee was
disagreed with this fact because their work does not give them a feeling of personal
accomplishment due to less interest in doing job. 7% employee was neutral about that fact
because of common and mere jobs.
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Question No: 9
Do you receive appropriate recognition for your contributions?
Do you receive appropriate recognition for your

contributions?
Agree
Strongly Agree
20%
14%
Neutral
17%
Strongly disagree
29%
Disagree
20%
Among 35 employees of Sonali Bank Limited Mymensingh Branch only 14% were strongly
agreed for receiving appropriate recognition for their contributions whereas about 20%were
agreed with this fact. But about 20% employees were disagreed and strongly disagree about 29%
of the employees because they think that they are receiving recognition for their contribution for
lacking of proper management of the branch.
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Question No: 10
Does the empowerment influence the quality of your work?
Does the empowerment influence the quality of your

work?
Agree Strongly Agree Neutral Disagree Strongly disagree
0%
20%
8%
59%
13%
Among 35 employees, only 8% employee were neutral and 20% were disagreed because they
think that the empowerment within the branch does not influence the quality of their work due to
lack of understanding among senior and junior level of employees. But 59% were agreed and
strongly agree 13% with the empowerment to influence the quality of their work.
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Question No: 11
Are you satisfied with the ability to maintain a balance between family and work life?
Are you satisfied with the ability to maintain a balance between

family and work life?
Disagree
14%
Agree
Neutral Strongly disagree
43%
14% 0%
Strongly Agree
29%
Most of the employees which is about 43% were agreed with the ability to maintain a balance
between family and work life. Because of their flexibility at work place which helps them to
realize the relaxation in between family and work life. But 29% were strongly agreed with this
fact due to maintain proper balance at both sides without any tension. Among them only 14%
were neutral because they think that they have less work flexibility which hampers to maintain a
balance between family and work life. 14% of the employees are disagree because their personal
facts.
Page | 44
Question No: 12
Do you think that your compensation matches to your responsibilities?
Do you think that your compensation matches to your

responsibilities?
Strongly Disagree
15%
Agree
35%
Disagree
23%
Neutral Strongly Agree

12% 15%
Among 35 employees of Sonali Bank Ltd. Mymensingh Corporate branch, About 23% of
employees are disagreed and strongly disagreed about 15% of this fact. From their point of view,
they were supposed to do more than necessary but they dont get as much as they do. Managers
are less concerned about this fact from the beginning. But 15% of employees were strongly
agreed, 15% are strongly agree and 12% were neutral because they were given proper
compensation as they do.
Page | 45
Question No: 13
Are you satisfied with the overall job security?
Are you satisfied with the overall job

security?
Strongly
Disagree
0% Disagree
Neutral 9%
12%
Agree
46%
Strongly Agree
33%
Among 35 employees of Sonali Bank Ltd. Mymensingh Corporate Branch, about 12%
employees were neutral about the overall job security according to their job rules whereas 9%
were disagreed with the overall job security because of the new comers. They had a fear to loose
their job at anytime from the order of the higher level officers 46% were agreed and strongly
agreed about 33% because they have the satisfaction of not to loose their job in any condition.
Page | 46
Question No: 14
Do you receive informal praise and appreciation from your supervisor?
Do you receive informal praise and appreciation from your

supervisor?
Strongly Disagree
6%
Agree
20%
disagree
26%
Strongly Agree
20%
Neutral
28%
Among 35 employees of this branch, 20% of the employees were agreed and 20% strongly
agree for receiving the amount and frequency of informal praise and appreciation from their
supervisor. Their work and performance were appreciated by the supervisors every time. But
28% were neutral about this fact and 26% employees were disagreed and strongly disagree is 6%
because they dont receive any praise from their supervisor for their performance due to the
biasness and negligence for few staffs.
Page | 47
Question No: 15
Are you satisfied with the bank as a place to work?
Are you satisfied with the bank as a place to work?
3% 0%
20%
43%
34%
Among 35 employees of Sonali Bank Ltd. at Mymensingh Branch, 34% employees were
strongly agreed with the satisfaction to find the company as a suitable place to work because of
the perfect office environment. 43% employees of the branch were agreed with this fact because
they found the office place as standard office to work. They think that the entire branch has good
office environment and employees to work with. 20% employees of this branch were neutral
because they think that their work place is good but it could be better with broad floors, facilities,
and decoration which will help them to reduce the monotonous work life and bring enjoyment to
their jobs. 3% of the employees are disagreed of this branch about this fact due to some reasons.
Summary of Findings:
Most of the employees were satisfied towards the work assigned to them by the
management.
None of the employees were highly dissatisfied with the facility provided to them.
Most of the employees were satisfied with their salary and others facilities.
Page | 48
Analysis: 3
Reasons Behind the Job Dissatisfaction of the Employees:
The reasons for job dissatisfaction, the most significant were:
I. Company policy and administration

II. Technical supervision
III. Inter-personal relations with supervisors, peers and subordinates
IV. Salary
V. Personal life
VI. Working conditions
VII. Status
VIII. Job security
IX. Difficulties in relation to the user/family collaboration in the caring process
X. Difficulties in the team work.
XI. Lack of recognition at work and need for professional development
XII. Problems in the management.
XIII. Considered insufficient
Other reasons for job dissatisfaction mentioned by the professional were:
Lack of recognition at work and professional devaluation;

Deficits on the instruments and working environment;
Lack of incentives for continuing education;
Excess of demand and excessive working hours.
Lack of equal behavior of bosses.
Lack of proper facilities.
Lack of technology.
Lack of proper training program.
Page | 49
RECOMMENDATIONS
AND
CONCLUSION
Page | 50
RECOMMENDATIONS
The study finds that every employee wants to see his or her place in good condition. But the
good condition of his or her largely depends on his or her harmonious relation with the bank. So,
it can be suggested that the banks policies should be made to give equal opportunities for all
staffs. It is realized that financial security from the job really motivates the staff to be more
professional and dedicated to their service. With the practical exposure in Sonali Bank Ltd. for
just twelve weeks, with little experience in the bank in comparison with vast and complex
banking system; it is not so easy to recommend some suggestion to enhance the performance
level of the organization. In spite of that, some probable solutions were found of the identified
problems on the basis of collected data, observation, expert staff opinion and own knowledge
and judgments. The necessary steps are recommended below:
1. Salary is the primary and most important factor for satisfaction. It should be high
enough to maintain the living standard of employees. The authority should consider that
salary structure and benefits should be reasonable and comparable with that of other
banks and /or other similar institutions.
2. All the superiors at each level should be cordial and friendly to their subordinates.
3. Sonali Bank Ltd. should ensure the overall job security to the employee by a contract
sign.
4. Sonali Bank Ltd. should give more attention to personal accomplishment and
recognition of the employee to increase the level of job satisfaction.
5. Sonali Bank Ltd. can give attention to the office decoration so that employee can stay
with comfort and relax to work there as a place.
6. Managers should concern about the facility and demand of junior level of employees
rather than selective officers by removing biasness.
7. Management assures their employees that they have rights to take their decisions
related their work areas independently and can choose their own method of working.
8. The scope of promotion should be increased otherwise turnover rate will be increased.
9. They should also arrange award ceremonies to find out the most talented, honest,
sincere person in the institution and appreciate him or her for his outstanding
performances.
10. The compensation should increase so that they can match with their responsibility.
11. Since they dont pay proper compensation they should facilitate benefits so that fewer
compensation is a least bother to employees.
12. Supervisor should provide a clear feedback to all.
Page | 51
13. Job description should be redesigned so that the employees get the opportunity to apply
their talents and expertise.
14. The bank should have a transparent standing policy for promotion of employees so that
an officer not getting promotion can clearly understand the causes behind it and may
devote him to be fit for promotion. So that they can improve their working standard
with a competitive attitude to make themselves fit for the future promotion.
15. The study determined six areas of job satisfaction of Sonali Bank Ltd. officers. They
are: supervision, rewards, operating procedure, co-workers, nature of work and
communication system. The bank authority should be careful to maintain this trend, so
that the level of job satisfaction can prevail in the minds of officers.
16. The job should be interesting enough, so that it must create enthusiasm among the
employees.
17. Sharing of information among different divisions within the organization should be
possible; so that the employees feel belongingness.
18. There should be provision for different kind of rewards for better performance. It will
encourage them to take responsibility and also will improve their willingness to
perform better.
19. Training and development program must be provided to the employees at regular intervals
to update their knowledge and skills.
20. Management should be indentify the weak employees and provide them proper training
to develop their skills.
21. Principal branch is a big branch, but these large numbers of people are operated without
any modern HR operation. So that I recommend at least one HR employee should
include in the branch.
Page | 52
CONCLUSION
After the analysis of statistical data and findings arrived, it can be concluded that employees of
the Sonali Bank Limited in nurture differential level of satisfaction across organizational
variables, such as, salary/ compensation, training and development, the nature of job, work life
balance, colleagues relationship, job security, chain of communication or relationships, decision-
making, welfare measures, rewards and recognition, attitude of superiors, roles of the employees,
working conditions, team work promotion policies etc. On the face of statistical findings,
difference in percentage between satisfaction and dissatisfaction suggests that factors of salary,
inter-personal relationship, communication, attitude of superiors, working conditions and team
work are more significant in determining job satisfaction of employees of the Sonali Bank
Limited. It can be pointed out that improvement in organizational variables, most particularly, in
performance appraisal system, promotional strategies, position status and related rewards etc.
may enhance job satisfaction and morale of employees in the Sonali Bank Limited. It is found in
this study that job is inevitable part of the staffs. Despite differences in their works and support,
they are satisfied in their job.
Page | 53
APPENDIX
Page | 54
Questionnaire
On
Employee Job Satisfaction of Sonali Bank Ltd.
(Mymensingh Corporate Branch)
(Only for Internship Report Purpose)
Name : (Optional)
Age : 18 to 24 25 to 30 31 to 40 41 to 50 50 to 60
Designation : Senior Principal Officer Principal Officer Senior Officer Officer
Junior Officer Associate Officer Assistant Officer Trainee Assistant Officer
[Please tick () your opinion about the following statements range from Strongly Disagree to
Strongly Agree]
SL. Statements Strongly Agree Neutral Disagree Strongly

No. Agree Disagree
1 Are you satisfied with your regular
assigned activities?
2 Do you think that the leaders in your

organization are positive role models
to you?
3 Does the supervisor keeps you well

informed about whats going on in the
company?
4 Do you think that your views and
Participation are valued in the
company?
5 Does the supervisor care most
important to you?
6 Are you satisfied with the
professionalism of the people with
whom you work?
7 Do you feel flexible with the team
spirit in your work environment?
8 Does your work give you a feeling of
personal accomplishment?
9 Do you receive appropriate recognition
for your contributions?
10 Does the empowerment influence the
quality of your work?
11 Are you satisfied with the ability to
maintain a balance between family and
work life?
12 Do you think that your compensation
matches to your responsibilities?
13 Are you satisfied with the overall job
security?
14 Do you receive informal praise and
appreciation from your supervisor?
15 Are you satisfied with the company as
a place to work?
Page | 55
REFERENCES
Books:
Dr. Ataur Rahman (Human Resource Management)
Reports:
Annual Reports of Sonali Bank Limited 2012, 2013, 2014.
Sonali Bank Prospectus.
Auditors' Report and Financial Statements of Sonali Bank Limited & its Subsidiaries as
at and for the year ended 31 December 2014,2013
Learning from internship period
Web References:
www.sonalibank.com.bd.
www.wikipedia.org.
Page | 56

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PRELIMINARY

1.3 Background of the Report:

1.4 Rationale of the Study:

1.5 Objective of the Study:

1.6 Scope of the Study:

1.7 Methodology of the Study:

1.7.1 Type of the Study:

1.7.3 Methods of Data Collection:

1.7.4 Sampling Method:

1.7.5 Sample Size:

1.7.6 Data Analysis Technique:

1.8 Limitation of the Study:

Sowmya and Panchanatham (Factors influencing job satisfaction of banking sector

3.2 Development of Banking Business in Bangladesh:

3.3 An Overview of Sonali Bank Limited:

3.4 An Overview of Mymensingh Corporate Branch of Sonali Bank Limited:

3.5 Profile Sonali Bank Limited:

Name of the Company : Sonali Bank Ltd.

Chairman : Mr. FazleKabir

CEO & Managing Director : Mr. Pradip Kumar Dutta

Company Secretary : Mr. A.K.A. SajedurRahman Khan

Legal Status : Public Limited Company

Date of Incorporation : 03rd June, 2007

Date of Vendors Agreement : 15th November, 2007

Headquarters : 35-42, 44 Motijheel Commercial Areas,

Authorized Capita : TK 66000.00 core

Paid-up Capital : TK3830.00 core

Number of Branches : 1207

Phone-pabx : 9550426-31, 33, 34, 9552924

3.6 Some Notable Features of the Sonali Bank Ltd:

3.6.2 Branches & Subsidiaries:

1. Sonali Exchange Company Incorporated (SECI) having 10 (Ten) branches in USA.

3.6.5 Representative offices: 03 (Three)

3.7 Mission of Sonali Bank Limited:

3.8 Vision of the Sonali Bank Limited:

3.9 Slogan of Sonali Bank Limited:

3.10 Digitalization status of Sonali Bank Limited:

3.11 Function of Sonali Bank Limited:

3.13 Objectives of Sonali Bank Limited:

3.14 Corporate Culture:

3.16 Corporate Governance of Sonali Bank Limited:

Managing Director & CEO

Deputy Managing Director

General Manager (GM)

Deputy General Managing

Assistant General Managing

Senior Executive Officer

Executive Officer (EO)

Senior Officer (SO)

Sl. No. Name Designation

3.19 Management of Sonali Bank Limited:

Corporate Banking Trade Finance Government Treasury

Special Small Loan

3.21.1 Other Business/Services:

Government Treasury Bonds Utility Bills Collection

3.21.2 Islamic Banking Services:

1. Deposit Products 2. Investment Products

Al-Wadeeah Current Account(AWCA) Bai-Murabaha

3.23 Government Intervention:

3.24 Core Values:

3.25 Core Strengths:

Transparent and Quick Decision Making.

3.26 Core Competencies:

Particulars 2011 year 2012 year 2013 year 2014 year