04 Discussion on Key Impacts of Job Dissatisfaction in Banking Industry with Reference to Government Owned Banks

 




This section contains the impacts of job dissatisfaction of banking industry with 

special  reference to government banks of Sri Lanka. Only the lower and middle

 level  management has been selected from two government banks of the country.

 Financial statics and job retention ratios are summarized below.


 Financial statics of Peo Bank

Year

2019

2020

2021

Gross Income-billon

197.0

191.0

207.2

Profit before Tax

19.6

25.1

37.2

Profit after Tax

12.9

14.2

23.7

Job retention ratio of Peo Bank

Year

2020

2021

Total number of employee

7692

7568

Retention Rate

98.2

98.1
Source Annual report 2021 

 Financial statics of RD Bank

Year

2019

2020

2021

Gross Income- Mn

27508

26357

23182

Profit before Tax-Mn

2960

2061

2650

Profit after Tax-Mn

499

404

519


Job retention ratio of RD Bank

Year

2020

2021

Total number of employee

2560

2735

Retention Rate

68.7

68.9


According to the statistics Peo bank indicates increasing profits with high employment

 retention rate compared to RD bank. Employees grievances recorded during one year period

 seems low in the bank yet the job dissatisfaction is a matter to be discussed. Due to stable

 economic performances and unstable social and economical nature of the country employees

 tend to retain in their own places other than seeking much more advanced condition in their

 carriers. Compared to Peo bank RD bank has lower retention rate which go in relationship

 with low financial benefits to the employees and reducing welfare status for the  organization.

 Number of employee grievances are  increasing in RD bank compared to past consecutive

 years.


  • Responsibilities of Middle Level and Lower Level Management of Government owned Banks of Sri Lanka- General View











Responsibilities of Management Classes





The majority of lower level management are quitting their job because of job

dissatisfaction created by many causes , which were discussed n the previous article. The

 middle and top management level has a law annual registration rate. Compared to PEo bank,

RD band has a significant impact of terminations due to job satisfaction. The majority of

 employees who left the company were young capable individuals whose industry knowledge

 and experience are highly sough after. In  order to fill vacancies they need to find people of

 same capacities. Additional cost is incurred in selecting and recruiting process. Since 

banking is a sector reliant on the good customer experiences, service provided by an

 employee is a major factor in customer retention and capable employees in customer care is

 an alarming matter for bank.



References 

https://www.peoplesbank.lk/last-financial-result/


Comments

  1. Prarthana KaranayakaDecember 9, 2022 at 11:29 PM

    This artical indicates that the majority of lower level management tend to leave the organization yet top level is not.i think that is the problem that banks face today loosing capable and promising employees.

    ReplyDelete
    Replies
    1. pabasaram1001December 9, 2022 at 11:46 PM

      Lower level management , managers and officers tend to leave the sector due to many reasons. They migrate, resign for a better promising path for carrier advancement. Yet they are the people who should be nurtured for the development of banking sector because of it's versatile nature.

      Delete
  2. RAMESH UBHAYARATHNADecember 12, 2022 at 2:53 AM

    According to the financial status comparison, peo bank seems to be a well established institute. The retention rate is outstanding. In our country, banking industry careers are considered as very stable as well as prestigious. In that acpect the lower retention rate of the other bank clearly indicates how important that employee satisfaction is on the context of employee retention.

    ReplyDelete

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