INTERNSHIP REPORT

On
“Employee job satisfaction of

DHAKA Bank Limited CDA Avenue Branch”

Submitted to:

Submitted by :
ID:
Chapter -2 Organizational Profile
 History of DHAKA bank

Bangladesh economy has been experiencing a rapid growth since the '90s. Industrial and agricultural
development, international trade, inflow of expatriate Bangladeshi workers' remittance, local and
foreign investments in construction, communication, power, food processing and service enterprises
ushered in an era of economic activities. Urbanization and lifestyle changes concurrent with the
economic development created a demand for banking products and services to support the new
initiatives as well as to channelize consumer investments in a profitable manner. The nation was just
halfway of its age; the passion for history and heritage and an obsession for faster pace exerted a
powerful force for change in the business world. Many budding hopes grew as a choice of the new
generation in the shadows of banking reformation of the nineties. DHAKA Bank is such a dream that
spread in profusion modern banking prospects with deep attachment to its community and culture. A
host of visionary entrepreneur friends inspired by a futurist leader set forth the fight of this great
corporate voyage that echoed the speed of technology on the inner soul of Bangladesh. DHAKA Bank
was incorporated as a Public Limited Company on April 6, 1995 under Companies Act, 1994. The
Bank started its commercial operation on July 05, 1995 with an authorized capital of TK. 1,000 million
and paid up capital of TK. 100 million. From the very year of its landmark journey, DHAKA Bank has
truly cherished and brought into focus the heritage and history of DHAKA and Bangladesh from
Mughal outpost to modern metropolis. Most of its presentation, publications, brand initiatives, delivery
channels, calendars and financial manifestations bear Bank’s commitment to this attachment. The
Bank is widely recognized today for its exceptional service, simplicity, proximity and cutting-edge
way of delivery. The Bank has stood out for its financial strength and operational craftsmanship
marking its position as the potential market player in all core areas of banking in the country. It got
listed in DSE and CSE in 2000. Alongside a lasting bond with the corporate world, DBL has got hold
of a countrywide reach through a larger network of Branches, ATMs, SME channels, agricultural
outreach and mobile banking. DBL has made its vibrant presence at 75 locations including 2 Islamic
Banking Branches, 1 Offshore Banking Unit, 3 SME Service Centers, 1 Business Kiosk and 46 ATMs
across the country. Catering to the needs of Capital Markets, the Bank has established a subsidiary
company named ‘DBL Securities Ltd.’ Having 6 countrywide Branches. DHAKA Bank Ltd. is the
preferred choice in banking for friendly and personalized services, cutting edge technology, tailored
solutions for business needs, global reach in trade and commerce and yield on investments. The
 operation of the bank is 10:00 A.M to 6:00 P.M from Sunday to Thursday with transaction hour from
10:00 A.M to 4:00 P.M. the bank remains closed at Friday and Saturday including government
holidays.

Vision
At DHAKA Bank, we draw our inspiration from the distant stars. Our vision is to assure a standard
that makes every banking transaction a pleasurable experience. Our endeavor is to offer you supreme
service through accuracy, reliability, timely delivery, cutting edge technology and tailored solution for
business needs, global reach in trade and commerce and high yield on your investments. Our people,
products and processes are aligned to meet the demand of our discerning customers. Our goal is to
achieve a distinct foresight. Our prime objective is to deliver a quality that demonstrates a true
reflection of our vision- Excellence in Banking.

Mission
“To be the premier financial institution in the country providing high quality products and services
backed by latest technology and a team of highly motivated personnel to deliver Excellence in
Banking.”

Human Resources Department of DHAKA Bank Limited

Human resources Department of DHAKA BANK is one of the most valued departments with the
responsibilities of staffing, training and development, organization development, performance appraisals,
rewarding, control and maintenance etc. With the start of DHAKA BANK’s banking operation, the Human
Resources Department (HRD) was not as strong and structured as it is now. The Human Resources Department
of DHAKA BANK consists of nine valuable and experienced executives to carry out the whole responsibilities.
The Human Resources Department of DHAKA BANK stands in its Head Office at Purana Paltan Lane under
the direct supervision of the top management.
 Corporate Information

Name of the bank DHAKA Bank

Logo

Legal status Private limited company

Industry Banking

Founded 1995

Head quarters DHAKA Bangladesh

Service Financial service

website www.DHAKAbankbd.com
 Organizational Hierarchy of DHAKA Bank Ltd
The Managing director heads the management team of DHAKA Bank Limited.

Managing Director (MD)

Deputy Managing Director (DMD)

Additional Managing Director (AMD)

Senior Vice President (SVP)

Executive Vice President (EVP)

Senior Executive Vice President (SEVP)

Vice President (VP)

Senior Assistant Vice President (SAVP)

Assistant Vice President (AVP)

Senior Principal Officer (SPO)

Principal Officer (PO)

Executive Officer (EO)

Senior Officer (SO)

Management Trainee Officer (MTO)

Officer

Junior Officer (JO)

Assistant Officer
Organizational structure of CDA Avenue Branch

Senior Assistant vice

president

Assistant vice
president

Senior Principle Officer

Executive Officer

Senior Officer

Management Trainee
Officer

Junior Officer

Officer
 Product And Service of DHAKA Bank

The business policy of DHAKA Bank is to reach the global through a win-win situation with the
client. DHAKA bank believes in promoting the business through personalized services and
perpetual relationship. It has strong commitment to stay competitive and serve the clients of
different strata in the society as well as to accelerate the pace of economic operation. With the
above in view, DHAKA bank has been operating with following popular and innovative products
and services:
 Chapter 3
Project Part
.
 3.1 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 organizational aspects were also highly valued.
Besides that, the authors noted that, due to importance given to the banks in their country’s 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. Job satisfaction refers to an individual’s 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.
Schermerhorn, Hund and Osborn (1998) Robbins (1994). 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.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 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.
Employee compensation practices differ across employment units (e.g., organizations, business units, and
facilities) on several dimensions (Gerhart & Milkovich, 1990, 1992; Gerhart, Milkovich, & Murray,
1992). The focus of the employee compensation literature has been on defining these dimensions,
understanding why organizations differ on them (determinants), and assessing whether such differences have
consequences for employee attitudes and behaviors, and for organizational effectiveness. In the following
discussion, we briefly describe the basic dimensions of compensation and summarize some of the key
theories used to explain the consequences of different compensation decisions. A discussion of pay
determinants can be found in Gerhart and Milkovich (1990, 1992).

3.2 Human resource management of DHAKA Bank

Human resource is the fundamental asset of the organization. Human resource approach is concerned
with the growth and development of people toward higher level of competency, creativity and
fulfillment. Therefore, human resources development has been given its due importance in an
environment that values performance, teamwork, fairness and integrity, it has both qualitative and
quantitative dimension. DHAKA Bank recognizes that intellectual capital is the most important asset for
a financial institution. Without proper and efficient human resources, no organization can run its
operations. The bank believes that the professional competence bank personnel and its commitment for
accomplishing assigned responsibilities are a first line of defense to prevent irregularities.

The objectives of Human Resource management of DHAKA Bank are as follows:

 Conducting job analysis

 Planning employee needs and recruiting job candidates
 Selecting of candidates
 Orienting and training new employees
 Managing wages and salaries (Compensating Employees) and benefits
 Appraising performance
 Communicating (interview, counseling, disciplining)
 Training and developing managers
 Building employee commitment
 3.3 Concept of Compensation
Compensation is a systematic approach to providing monetary value to employees in exchange for work
performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job
satisfaction. Compensation the methods and practices of maintaining balance between interests of operating
the company within the fiscal budget and attracting, developing, retaining, and rewarding high quality staff
through wages and salaries which are competitive with the prevailing rates for similar employment in the labor
markets.

Today’s compensation systems have come from a long way. With the changing organizational structures
workers’ need and compensation systems have also been changing. From the bureaucratic organizations to the
participative organizations, employees have started asking for their rights and appropriate compensations. The
higher education standards and higher skills required for the jobs have made the organizations provide
competitive compensations to their employees.

Compensation strategy is derived from the business strategy. The business goals and objectives are aligned
with the HR strategies. Then the compensation committee or the concerned authority formulates the
Compensation strategy. It depends on both internal and external factors as well as the life cycle of an
organization. Compensation is the most important part for an employee as well as the organization because it is
one most important tool that motivates the employees to perform for the company. Actually compensation
refers to a particular remuneration that employees are based on the job they have done. In fact, what the
employees are paid due to their employment and job done is called compensation. Compensation refers other
forms of remuneration as well that could be either monetary or nonmonetary. Compensation refers to all forms
of pay going to employees and arising from their employment. Moreover, we can say that compensation is
short of rewards that can be fundamental as well as more than the basic that employee receives in terms of
their service to the company where all short of mentees may be monetary or nonmonetary are offered as a
reward to the employees. Compensation represents both the intrinsic and extrinsic rewards employees receive
for performing their jobs.

The main purpose of compensation is to retain and uphold as well as attract the potential employees to set a
standard of compensation. Compensation needs to be lucrative such ways that without an intensive
compensation package it is impossible to hire best expertise for the accomplishment of the job. The level of
compensation differs based on some criteria for which employees of same level consumer’s different types
of compensation. First of all, due to education and experience the salary
and other compensation benefits differ person to person. It means the more educated and experienced
employees enjoy better compensation benefits comparing with the less educated and experienced of the same
post with the similar job description and status. Secondly it is the skills that have a huge effect on the
compensation. The more skilled staffs enjoy a better compensation package comparing to others of the similar
job recognition.

3.4 Evolution of Compensation

Today’s compensation systems have come from a long way. With the changing organizational structures
workers’ need and compensation systems have also been changing. From the bureaucratic organizations to
the participative organizations, employees have started asking for their rights and appropriate
compensations. The higher education standards and higher skills required for the jobs have made the
organizations provide competitive compensations to their employees. Compensation strategy is derived
from the business strategy. The business goals and objectives are aligned with the HR strategies. Then the
compensation committee or the concerned authority formulates the compensation strategy. It depends on
both internal and external factors as well as the life cycle of an organization.

Traditional Change in Modern

Compensation Compensation Compensation
System System System
Traditional Compensation Systems:
In the traditional organizational structures, employees were expected to work hard and obey the bosses’
orders. In return they were provided with job security, salary increments and promotions annually. The salary
was determined on the basis of the job work and the years of experience the employee is holding. Some of the
organizations provided for retirement benefits such as, pension plans, for the employees. It was assumed that
humans work for money, there was no space for other psychological and social needs of workers.
Change in Compensation Systems
With the behavioral science theories and evolution of labour and trade unions, employees started asking for
their rights. Maslow brought in the need hierarchy for the rights of the employees. He stated that employees
do not work only for money but there are other needs too which they want to satisfy from there job, i.e. social
needs, psychological needs, safety needs, self-actualization, etc. Now the employees were being treated as
human resource. Their performance was being measured and appraised based on the organizational and
individual performance. Competition among employees existed. Employees were expected to work hard to
 have the job security. The compensation system was designed on the basis of job work and related
proficiency of the employee.
Today’s Modern Compensation Systems

Today the compensation systems are designed aligned to the business goals and strategies. The employees are
expected to work and take their own decisions. Authority is being delegated. Employees feel secured and
valued in the organization. Organizations offer monetary and non-monetary benefits to attract and retain the
best talents in the competitive environment. Some of the benefits are special allowances like mobile,
company’s vehicle; House rent allowances; statutory leaves, etc.
DHAKA Bank Ltd follows modern compensation practices.

self
actu
aliza
tion
self esteem

social need

Safety need

Psychological Need

3.5 Purpose or use of compensation:

Compensation is a tool used by management for a variety of purposes to further the existence of the company.
Compensation may be adjusted according the business needs, goals, and available resources.
Attracting Top Talent

People are always looking to put themselves in the best possible position financially. Those who are worth a
specific salary amount often know their value and will seek a position that pays accordingly. Do research on
what your competitor's compensation and benefits packages look like. Make sure you offer a similar package to
your potential employees so that you attract the best candidates for your company. Hiring the right candidate,
the first time reduces recruiting costs and helps free up business owners for other tasks.

Increased Motivation

Properly compensating employees shows you value them as workers and as human beings. When people feel
valued, they feel better about coming in to work. Overall company morale increases and people are motivated to
come to work and do a good job. Additionally, when employees know there are bonuses or commissions, they
are increasingly motivated to deliver grander results. Bonus and commission compensation plans become a
focal point for success.

Employee Loyalty
When employees are being paid well and are happy, they're likely to stay with the company. Proper
compensation is one factor why employees remain with employers. Loyalty means that business owners don't
need to continue to spend time, money and energy on recruiting new candidates. Employee retention and low-
turnover rates are great for employers who cultivate a team that knows what to do. That team is also motivated
to be part of the team, and they get the job done well.

Increased Productivity

Happy employees are productive employees. Productivity in relation to compensation starts with employees
feeling valued which increases motivation and loyalty. Not only are employees more motivated to do a good
job, but also, the longer people are with the company, the more they know and the more efficient they become.
All of this leads to increased productivity.

Job Satisfaction

Creating the right compensation plan leads to stronger job satisfaction. The right compensation plan includes
benefits, along with all the other bonuses available. Employees often boast about holiday bonuses or they
keenly watch how the company stock performs because they have stock options. The right compensation
program invests employees into the work being done, which gives them a stronger sense of satisfaction when
the company succeeds. They know they will be rewarded for their efforts; everyone likes to be appreciated.
Compensation may be used to:

 Recruit and retain qualified employees.

 Increase or maintain morale/satisfaction.
 Reward and encourage peak performance.
 Achieve internal and external equity.
 Reduce turnover and encourage company loyalty.
 Modify (through negotiations) practices of unions.

Recruitment and retention of qualified employees is a common goal shared by many employers. To some
extent, the availability and cost of qualified applicants for open positions is determined by market factors
beyond the control of the employer. While an employer may set compensation levels for new hires and
advertise those salary ranges, it does so in the context of other employers seeking to hire from the same
applicant pool.
Morale and job satisfaction are affected by compensation. Often there is a balance (equity) that must be
reached between the monetary value the employer is willing to pay and the sentiments of worth felt be the
employee. In an attempt to save money, employers may opt to freeze salaries or salary levels at the expense of
satisfaction and morale. Conversely, an employer wishing to reduce employee turnover may seek to increase
salaries and salary levels.
Compensation may also be used as a reward for exceptional job performance. Examples of such plans
include: bonuses, commissions, stock, and profit sharing, gain sharing.
 3.6 Types of compensation:

Compensations are 2 types. They are direct or indirect compensation.

Basic pay
Basic pay
Pay
Pay
Direct
Direct Merit pay
Merit pay
Incentives
Incentives
Compensation
Compensation
Benefits
Benefits
Indirect
Indirect
Services
Services

Direct Compensation:

Direct compensation refers to the compensation that an employee receives directly from his or her place of
work. This includes the base salary and any incentive pay. Direct compensation can be in the form of wages,
salaries, commissions and bonuses that an employer provides regularly and consistently. Compensation that
isn’t considered direct includes benefits, retirement plans, leaves, employee services and education. It is wise
for employers to distinguish between direct and indirect compensation in their benefits packages and to
acknowledge the power that indirect compensation can play in getting and retaining employees, especially if the
employees are otherwise satisfied with their direct compensation. Under direct compensation there are two sub
types of compensation.

Pay : It is the payment received for performing the work. It can be base pay and merit pay based on
performance. Base pay is just a term used to denote an amount which is least in the range of Basic pay
of the employer excluding Benefits. Merit pay and pay for performance are related but not exactly
identical terms. Merit pay reward performance by increasing the employee's salary on a long-term
basis. All forms of pay for performance are designed to motivate employees to meet performance goals.

Incentives : A system of rewarding success and effort in the workplace by allowing employees to earn
prizes or recognition. They are provided for higher performance. They can be profit sharing, stock
option, commission, bonuses, increments etc. Direct compensation includes basic salary, house rent
allowance, conveyance, medical reimbursement, leave travel allowance, special allowance, bonus,
pf/gratuity. Direct compensation packages that DHAKA BANK LTD provides are as follows.

Basic Salary

Medical House rent

allowance allowance

Direct
compensation
DHAKA provides

Conveyance Entertainment
allowance Allowance

Leave travel
Allowance

This diagram represents the direct compensations that DHAKA Bank Ltd provides.

Indirect compensation:
This are provided for the employees benefit but are not directly given to the employees. Indirect
compensation includes non-monetary benefits provided to workers, such as pension funds, mobile
phones, company cars, health and life insurance, overtime pay, and annual leave. In fact, it includes
everything from legally obligated health insurance to social security, child care, and more. It is essential
to understand that employers can include standard contractual, non-monetary features covering annual
leave, as well as valuable benefits such as healthcare, in indirect compensation. Indirect compensation
differs from direct compensation, which is monetary compensation paid directly to employees for their
services, starting with their salary. Instead of being paid directly to an employee, indirect compensation
 is calculated as an extra component of the base salary. Indirect compensation packages provided by
DHAKA Bank Ltd is projected in a diagram below.

Indirect
compensation
proviuded by
Life insurance DHAKA BANK
Employee
Investment
Scheme
Flexible time
Leave Policy

Life insurance: DHAKA Bank also provide accidental insurance and life insurance for employees.
This gives them the emotional security and they feel themselves valued in the organization

Flexible time: DHAKA bank provide for flexible timings to the employees who cannot come to work
during normal shifts due to their personal problems and valid reasons.

Leave Policy: It is the right of employee to get adequate number of leave while working with the
organization. DHAKA Bank provides paid leaves such as, casual leaves, medical leaves (sick leave),
and maternity leaves, statutory pay, etc.

3.7 Components of Compensation:

Compensation will be perceived by employees as fair if based on systematic components. Various
compensation systems have developed to determine the value of positions. These systems utilize many similar
components including job descriptions, salary ranges/structures, and written procedures.
The components of a compensation system include

Salary Servey
Pay
Structure
Job
Job Evaluation
Analysis
Job
Description

 Job Descriptions A critical component of both compensation and selection systems, job descriptions
define in writing the responsibilities, requirements, functions, duties, location, environment, conditions,
and other aspects of jobs. Descriptions may be developed for jobs individually or for entire job families.

 Job Analysis The process of analyzing jobs from which job descriptions are developed. Job analysis
techniques include the use of interviews, questionnaires, and observation.

 Job Evaluation A system for comparing jobs for the purpose of determining appropriate compensation
levels for individual jobs or job elements. There are four main techniques: Ranking, Classification,
Factor Comparison, and Point Method.

 Pay Structures Useful for standardizing compensation practices. Most pay structures include several
grades with each grade containing a minimum salary/wage and either step increments or grade range.
Step increments are common with union positions where the pay for each job is pre-determined through
collective bargaining.

 Salary Surveys Collections of salary and market data. May include average salaries, inflation
indicators, cost of living indicators, salary budget averages. Companies may purchase results of surveys
conducted by survey vendors or may conduct their own salary surveys. When purchasing the results of
salary surveys conducted by other vendors, note that surveys may be conducted within a specific
 industry or across industries as well as within one geographical region or across different geographical
regions. Know which industry or geographic location the salary results pertain to before comparing the
results to your company.

3.8 Concept of Job Satisfaction:

Job satisfaction refers to a person’s 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 employee’s general attitudes toward his job.”
 There are three major theories of job satisfaction is, (Hoppock 1998).
I. Herzberg’s Motivation - Hygiene Theory. II.
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 one’s
job or job experience, to the extent that person’s job fulfills 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 employee’s 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.

3.9 Models of Job Satisfaction

Affect Theory:

Edwin A. Locke’s 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/aren’t 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 doesn’t 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. Locke’s 1976)

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 one’s 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 one’s
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 one’s 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.

Two-Factor Theory (Motivator-Hygiene Theory):

Frederick Herzberg’s 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 employee’s 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.

3.10 Determinants of Employee Job Satisfaction:

Job satisfaction is directly proportional to performance. Greater the job satisfaction, higher will be the
employee’s performance. Different employees have different perception regarding their job, thus making factors
of job satisfaction indefinite. A factor that works for an employee A may not work upon employee B. However,
there are some commonly known factors that affect job satisfaction which is described in brief below.

Working Environment: It is essential to provide employees with a work environment which is conducive to
their overall development. They need an environment which is healthy and safe and which caters for both
personal comforts and facilitates doing a good job. If the working conditions are good (clean, attractive
surrounding), the personnel will find it easier to carry out their jobs. DHAKA bank’s working environment is
quite friendly from supervisor to employees. But the workload makes employees disappointed.

Relationship with superiors: Employees feel irritated when they are micromanaged and feel detached when
they do not receive feedbacks at all. A good boss should create space for open communication so that
employees can share their opinion and problems (if any) with their superiors. Attachment with the company is
really necessary for employees to feel satisfied with their job. Relationships with the superior is positive in
DHAKA Bank , everyone shares a close relationship.
Relationship with co-workers: A hostile environment with rude and unpleasant coworkers is one of the major
factors that develop a negative attitude towards workplace, while the opposite is known to have satisfied
employees to a higher extent as there is very less chance of conflicts and grievances in the workplace which has
employees with high morale. The workload of employees of DHAKA Bank is stressful but the bunch of joyful
co-workers make the employees stressful work environment more pleasant.

Autonomy People feel satisfied with the job when they and their opinion and works are valued by the
company. When company gives them right to take nominal decisions, employees can make better output, rather
than while they work under control.

Job security The feeling that the job will last long is a factor f job satisfaction. People are demotivated to work
and are less committed to and attached with the job when they know that the job is temporary.

Appreciation Human race loves to be appreciated. Even for the smaller job that does one seek to have an
appreciation, from colleagues, boss, and seniors. When one gets acknowledged in front of everyone, it gives up
a boost to their morale. When appreciation leads to encouragement, the ultimate result is reflected in the
efficiency of work automatically. Higher appreciation leads to higher job satisfaction. DHAKA Bank’s
employees are entitled for the incentives, merit pay, promotions as appreciation for their performance.

Payment Payment is another factor that plays vital role in satisfying an employee. An employee who gets right
amount of payment according to their job is motivated to continue working. But, when employees are paid
inadequately they are dissatisfied with the job and can even discontinue working in a long run. Wages and
salaries are recognized to be a significant but cognitively complex (Carraher, & Buckley, 1996) and
multidimensional factor in job satisfaction. Money not only helps people attain their basic needs but is also
instrumental in providing upper-level need satisfaction. Employees often see pay as a reflection of how
management views their contribution to the organization. Fringe benefits are also significant, but they are not as
influential.

One reason undoubtedly is that most employees do not even know how much they are receiving in benefits.
Moreover, most tend to undervalue these benefits because they do not realize their significant monetary value.

Flexibility Offering flexibility is a great way to show the team members that what is expected from them.
What’s more, the gift of time is one of the most appreciated workplace perks. Smart people work best when
they can choose their schedule. Flexible hours can increase engagement and productivity. But keep in mind that
these may decrease collaboration.
Promotion Promotional opportunities seem to have a varying effect on job satisfaction. This is because
promotions take some different forms and have a variety of accompanying rewards.In recent years, with the
flattening of organizations and accompanying empowerment strategies, promotion in the traditional sense of
climbing the hierarchical corporate ladder of success is no longer available as it once was.

Organizational support Employees are more attached and satisfied with the job when they are supported by
the company. It is necessary to support employees when they are going through any problems in professional
life as well as in personal life. When the company works as a shoulder that employees can trust upon, they feel
secured, with which arises the feeling of satisfaction with the job.

3.11 Effects of job satisfaction:

Job satisfaction has a variety of effects. These effects may be seen in the context of an individual’s physical and
mental health, productivity, absenteeism, and turnover.

Physical and Mental Health:

The degree of job satisfaction affects an individual’s physical and mental health. Since job satisfaction is a type
of mental feeling, its favorableness or favorableness 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.

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 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).

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.
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 one’s
attention away from the task at hand. In-attention leads to accidents.
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.

3.12 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.
 One of the best uses of the job satisfaction survey is in the evaluation of the impact of organizational
changes of the employee’s attitude.
Chapter 4: Analysis & Findings.
 Analysis 1 (Objective 1)
“Operational activities of DHAKA Bank Ltd.”

General Banking Department is considered as the direct customer service center. It is the starting point
of all the banking operation. It opens new accounts, remits funds, honor cheque, takes deposits, issues
bank draft and pay order etc. general Banking is also known as retail banking. Following are the major
banking: activities.
 Account opening & closing section
 Clearing section
 Cash section
 Remittance
 Letter of credit

But I work on:

 Account opening & closing section
 Cash section
 Letter of credit section

 Account Opening Section:

Under this section DHAKA Bank offers different types of account But to open any account, customers
need to open a saving account first. The procedure of opening a account is given below:
 Account opening form:

To be filled in and signed by each account holder.

Latest passport size photograph (2 copies) for each account holder attested by the introducer.
Copy of Voter identity card/Ward Commissioner Certificate.
Introduction of account holder (Mandatory):
To be signed by introducer with ID and account number.
1 (One) copy of nominee’s photograph (attested by the account holder).
Copy of voter identity card (nominee).
Initial deposit 500 TK.

 Cash section:

The cash section of any branch plays very significant role in general banking department. This section
receives cash from customers & pay cash against cheque, pay-order & pay in slip.
The cash department mainly performs the following functions:
• Cash Receipt
• Cash Payment.

 Letter of credit section:

A letter of credit (LC), also known as a documentary credit, bankers commercial credit, is a payment
mechanism used in international trade to perform the same economic function as a guarantee, by
allocating risk undertaken by contracting parties. At law, a letter of credit is categorized within Financial
law as a form of a Simple position, which alongside guarantees, derivatives, and insurance allocate risk
as a form of a promise from one party to another.
A letter of credit primarily achieves this by creating a written commitment from a bank on behalf of one
party that payment be made to a third-party, provided that the terms and conditions stated therein have
been met. Any documents tendered which are outlined in the letter of credit, the third party will be paid
by the bank. A letter of credit is extremely common within international trade and goods delivery, where
the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to
introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
 How to open LC:

1.At first open a bank account.

Trade license
Tin certificate
IRC (Import Register Certificate)

2.Then submit PI (Pro-forma Invoice)

3.Then fill-up LC form.

 Closing of an Account
For two reasons, one can be closed. One is by banker and other is by the customer.
 • By banker: If any customer doesn’t maintain any transaction within six years and the
A/C balance becomes lower than the minimum balance, banker has the right to close an A/C.

• By customer: If the customer wants to close his A/C, he writes an application to the
manager to his close his A/C.

Analysis 2 (Objective 2)
“The Components that prompt Job Satisfaction of the
staffs of DHAKA Bank Ltd.”
According to studies conducted by Hoppock, the important factors that matter in job satisfaction are:

1)Financial: Job satisfaction is impacted by an employee’s views about the fairness of the company wage
scale as well as the current compensation she may be receiving. Companies need to have a mechanism in
place to evaluate employee performance and provide salary increases to top performers. Opportunities to
earn special incentives, such as bonuses, extra paid time off or vacations, also bring excitement and higher
job satisfaction to the workplace.

DHAKA bank CDA Avenue Branch provides bonuses & promotions to its employees. But on good
performance or target fulfillment they do not receive incentives.
Though 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:

i. Relative status, which an individual hold within the economic and social groups with which he
identifies himself.
ii. Relationships with supervisors and associates on the job.
iii. Work situations, including the nature of work.
iv. Working conditions-earnings, hour of work, facilities, etc.
v. Greater opportunities for advancement.
vi. Variety in work, that does away with the dullness and monitoring of work.
vii. Thrill and excitement of the work.
viii. Job security-steady employment.
ix. 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 worker’s 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. Recognition is exactly what employees of
DHAKA bank get a lot for their good performance.

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. DHAKA
bank’s employees face a lot of stress because of their work pressure.

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. Employees of DHAKA Bank feels so responsible about their job.

6) Advancement: Sudden promotion of the employees in recognition of his good work, caused the employees
much satisfaction about his job. Employees of DHAKA Bank CDA Avenue Branch is satisfied with the
advancement opportunity they get.
 Analysis: 3 (Objective 3)

“Measurement the level of Employee Job Satisfaction of

DHAKA Bank LTD”
In below, I targeted my sample size as 20. Collected data is analyzed using Microsoft Excel. The findings part
requires 12 questions; each question has 5 options. Those are: Strongly agree, strongly disagree, Agree,
Disagree & Neutral. The data of each questions were used for analyzing the level of job satisfaction of
employees of DHAKA Bank Ltd at CDA Avenue Branch, Chittagong.

Question No – 1

Do you think there is a good communication from senior

manager to employee ?

For this
Strongly Agree
7%
9%
Agree question 5
Neutral
Dis-Agree options in
11%
48% Strongly Dis-Agree
each question
given to the
25%
employees
from the stage
of strongly
agree to
strongly disagree including neutral to choose their desired answer. 48% of employees are strongly agreed to this
question. They say that everyone in the CDA Avenue branch shares great interpersonal relation, which leads
good communication between managers & employees.25% employees agree,11% are neutral, 9% disagrees but
7% are strongly disagree. They don’t feel like there is a good communication between managers & employees.
 Analysis 4 (objective 4)
“Compensation packages entitled to the DHAKA Bank CDA
Avenue branch employees.”
With the basic pay employees of Dhaka bank CDA avenue branch get lots of direct & indirect compensations.
As direct compensation with the basic pay they get Medical allowance, leave travel allowance, Entertainment
allowance, House rent allowance. As indirect compensation employees get Employee Investment Scheme
fund, Life insurance, Flexible time, Leave policy. Some questions were asked about compensation packages to
the employees of Dhaka Bank CDA Avenue branch & these are shown in a graphical representation along with
the questions.

Question -1

Does your company provide enough monetary

compensation?

8%
9% Strongly Agree
40% Agree
15%
Neutral

Dis-Agree
28%
Strongly Dis-
Agree

Among 20 employees 40% strongly agreed that Dhaka bank provides enough monetary compensation as
entertainment allowance, LFA & as Medical allowance & so on. Again 28% s agreed too. Whereas 9% & 8%
were disagreed & strongly disagreed respectively. 15% thinks neutral because Dhaka bank don’t provide
performance bonus & pay for extra work.
 Question- 2

Do your company provide sati sfactory level of Non-

Monetary compensati on?

9%
12% 33%

46%

Strongly Agree Agree Neutral Dis-Agree Strongly Dis-Agree

Summary of Findings
According to this survey most of the employees are satisfied working with the DHAKA Bank.

Most of the employees are satisfied towards the work assigned to them by the management.

None of the employees are highly dissatisfied with the facility provided to them.

It is also noticeable a few number of employees are disappointed because of the unavailability of

transportation facility, canteen facility & for the unstructured job station.
Chapter Five: Recommendations &
Conclusion
 Recommendations
 The scope of promotion should be increased otherwise turnover rate will be increased. Promotion
system should be based on performance rather than seniority. So that good performer employees will be
motivated & at the same time poor performers will be motivated for better.
 Employees get increment annually but a performance based incentives might boost them up for future
performance.

Conclusion
From my point of origin to work in DHAKA Bank Limited, I can say that I really enjoyed my internship period
at DHAKA Bank Limited form the very first day. I am confident that this 3 (three) months internship program
at DHAKA Bank of Bangladesh will definitely help me to realize my further career in the job market. DHAKA
bank ltd. which is one of the growing bank successfully implemented the effective HR practices. It is believed
that it is continuously growing day by day because of its highly committed employees to continue this
profitability. From the study it was identified that most of the employees are satisfied. DHAKA bank ltd gives
promotion, increments, performance, bonus for their employees. Although committed and loyal employees are
the most influential factor to becoming an employer of choice, it’s no surprise that companies and organizations
face significant challenges in developing energized and engaged workforces. In fact, the true potential of an
organization can only be realized when the productivity level of all individuals and teams are fully aligned,
committed and energized to successfully accomplish the goals of the organization.
 References

1. http://docslide.us/business/compensation-and-benefit-chapter-1.html
2. https://www.patriotsoftware.com/blog/payroll/what-is-compensation/
3. https://dhakabankltd.com/
4. Brochure of Dhaka Bank
5. Annual Report of Dhaka Bank Ltd.