Impact of Work Environment on Employees' Motivation of the Banking Industry of Bangladesh-A Study on Some Selected Private and Public Banks

Abstract

The researcher undertakes this study in the context of limited research on the captioned topic. The relationship between the work environment and motivational issues in the banking industry of Bangladesh is splendidly significant. But it is awfully overlooked so far. The main aim of the study is to assess the influence of working environment in motivating the employees & how it affects productivity. The researcher formulated five hypotheses based on the objectives of the study. Some employees try hard, come earlier, go away later, pick up deposits, disburse & recover loan assertively, endure pressure, stay optimistic and aid colleagues. Conversely, there are others who come late, go away early, callous to target, hostile with co-workers, miss deadlines, perform poorly and try the smallest. The reason behind the difference between the two class is-motivation. This study aims at revealing the effect of the working environment of the banking sector. In the very beginning, the researcher reviewed the existing literature thoroughly. The review has helped them develop an analytical framework. The researcher followed a structured procedure for the collection of data for this study. They gathered secondary data from different textbooks, articles, reports, journals, periodicals, newspapers & trusted websites. On the other hand, they pick up primary by conducting a survey with a formal questionnaire and interviews. After, they converted the qualitative data into quantitative value with the help of statistical tools. Finally, the researcher interpreted and analyzed the data with the help of the Statistical Packages for Social Sciences (SPSS) software. Out of the five hypotheses of the study, four null hypotheses (H01, H02, H03 and H05) were rejected while only one null hypothesis(H04) was accepted. The rejection of the 1st null hypothesis reveals that different elements of the working environment have an impact on motivating the employees. The rejection of the 2nd null hypothesis proves that the existing work environment of the banking industry of Bangladesh is well under satisfaction. Moreover, the rejection of the 3rd null hypothesis depicts that adverse work environment can reduce the performance of the employees substantially. While the acceptance of the 4th null hypothesis has attested that the working environment of private & public banks is not the same. In some cases, private banks offer a more motivating environment. Lastly, the rejection of the 5th null hypothesis confirms that the motivated employees can contribute to the development of the banking industry to a great extent. The basic findings of the study depict that there is a good correlation between a favorable work environment and motivation. On the contrary, an unfavorable work environment does the opposite. A constructive working environment having adequate interior design, sanitation, sensible working hours, participative decisions, equity, team work, lucrative salaries, bonuses etc. can vibrate emotions. It can rejuvenate the employees. The availability of the aforesaid stimulus motivates employees and brings about revolutionary achievement for the banking sector. In contrast, an unfavorable work environment having messy set up, excessive risk, stress, indiscriminate transfer & posting, monotony in job, excessive work load and unattainable target do definitely de-motivate the employees. This type of environment can bring forth catastrophic results. Further, this study reveals that around fifty percent of the respondents are satisfied with the existing physical environment of the banking industry in Bangladesh. On the other hand, almost an equal number of respondents are not satisfied with the existing psychological environment. Again, half of the total respondents are dissatisfied with the existing professional environment. Remarkably, a majority percent (65%) of them have shown immense satisfaction towards the existing financial environment. But it is true that the employees do not judge the work environment as 'excellent' (41%). From the above discussions and the results we can conclude that the existing working environment is 'reasonable'.

The researcher has undertaken comparative study between public & private banks. The study discloses that the physical environment is much better in private banks compared to public banks. In contrast, the psychological environment is better in public banks than private ones. The professional environment is obviously better in private banks. Additionally, we see a better financial environment in private banks compared to public ones. In view of these results, we can assume the work environment in public and private banks is different. Finally, the researcher measures the outcomes of the motivating environment. The fascinating work environment helps to build sustainable growth by reducing employee turnover and absenteeism. It convinces the employees to render better service, achieve target and generate higher profits. To wrap up this research, the researcher admits some limitations of the study and seeks some recommendations mentioning some research avenues for future candidates.