Author:
Anika M. Hasan, Sharmin Ara Chowdhury, Meherun Nisa Nipa

Doi: 10.26480/faer.01.2024.57.64

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

The quantitative study aimed to explore the impact of compensation, benefits, and work environment on employee job satisfaction within the Banking Sector in Bangladesh. Through rigorous analysis of survey responses from employees, key insights were garnered, providing a comprehensive understanding of factors influencing employee satisfaction. The findings highlighted the paramount importance of fair and competitive compensation structures in influencing employee perceptions. Employees valued compensation that was perceived as equitable and reflective of their efforts. Non-monetary benefits, such as health insurance and professional development opportunities, were also significant contributors to overall job satisfaction. Moreover, the study revealed the substantial influence of the work environment on employee perceptions. A positive work culture, characterized by supportive interpersonal relationships and adequate resources, emerged as a critical factor impacting employee satisfaction and well-being. Despite positive perceptions, areas for improvement were identified. Strategies to enhance performance-based incentives, clarify career advancement pathways, and emphasize the value of non-monetary benefits were recommended to improve overall employee satisfaction. Continuous engagement and adaptive strategies were underscored as pivotal for sustained employee satisfaction. Establishing regular feedback mechanisms and implementing responsive strategies were highlighted as essential for addressing evolving employee needs effectively. The implications for the Banking Sector in Bangladesh are significant. By implementing recommended strategies, banks can cultivate an environment that nurtures employee engagement and satisfaction, subsequently enhancing organizational performance and competitiveness within the sector. In conclusion, the study provided comprehensive insights into the multifaceted dynamics shaping employee job satisfaction. Leveraging these findings and implementing the proposed strategies can empower banks to create an environment that fosters employee contentment, engagement, and overall well-being, contributing to the sector’s success and growth.