Research On XAC Bank Employee Job Satisfaction

Human Resource Management is becoming more important in the business due to the increasing importance of people and their knowledge.One of the most important factors that businesses consider when it comes to improving their operations is the level of employee satisfaction.This is a requirement for the bank to maintain a high level of satisfaction since it affects customer service.The aim of this thesis is to analyze the level of employee satisfaction in Xac Bank.The study was based on Hertzberg’s Two Factor Theory and Maslow’s Theory.This research used quantitative research design.There are approximately 780 Xac Bank employees based in Ulaanbaatar.185 employees took part of this research survey.Primary data was collected using questionnaire.Results were entered and analyzed in Microsoft Excel.Findings were represented by tables,figures,frequencies and percentages.This paper gives practical countermeasures and suggestions.This research found that the level of employee satisfaction in Xac Bank was above average,or 3.7 points.It is believed that this reflects the good company policy,interpersonal relations,organizational culture,working environment and other measurements of the bank.The survey result shows that employees are provided with opportunities for growth,they receive appropriate recognition as a result or their work,and employees have a sense of achievement for their work.On the other hand,there are some issues that need to be improved.Among them,the salary issue was the most noteworthy.A certain percentage of employees are dissatisfied with the possibility of promotion.Furthermore,there might be room for improvements on the managers knowledge on subordinates work responsibility so that the manager can send appropriate constructive feedback and make reasonable demands on them.In addition,research stresses that it is important to improve the quality of training.Therefore this research suggests the bank to provide more monetary rewards and promotion opportunity as well as improve job security in order to realize desired productivity and performance.This study also deals with the effect the culture has on employee satisfaction.The reason is that the bank is a merger of two entities from different countries,one of which was a nonbanking financial institute funded by USAID.Hence,many professionals and trainee from different countries work at the bank.The theoretical framework of this thesis includes such concepts as job satisfaction and cultural differences.Knowing the characteristics of the culture and taking appropriate measure is one of the basic business issues for a foreigninvested organization.In this study,Mongolian and American culture are compared and specific difference are revealed by the model developed by Hofstede and Erin Meyer,and the countermeasures to each dimensions are included.The conclusions made regarding the research are only valid for Xac Bank and can not be generalized for other organizations.However,it can be used as a reference for researching other companies.