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THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) [University] 2013 ABSTRACT Employee satisfaction is a measure of how favorably an employee sees his/her job. As an employee is considered to be the backbone of an organization, the importance of employee satisfaction in the success of an organization cannot be ruled out…
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Employee satisfaction is absolutely necessary among front desk staff especially those working in investment banks or other sales related companies as they represent an organization and bring in a greater portion of the revenue. The purpose of this study is to measure the employee satisfaction levels among Lloyds TSB front desk staff, one of the leading banks of UK. A questionnaire based survey was conducted and it was found that although the pay package and benefits provided by the bank were quite attractive, employee satisfaction was average among the Lloyds TSB front desk staff. An analysis of the questionnaire using popular satisfaction/motivation theories revealed that along with money other factors such as communication with the employees, respect and recognition and appreciation are also important. It was found that hard HRM is mostly practiced in Lloyds Bank TSB branches and hence it is recommended that a blend of both hard and soft HRM should be applied in order to improve the employee satisfaction levels. ... ies 15 2.3 Maslow’s Theory 16 2.4 Herzberg’s Two Factor Theory 18 2.5 Alderfer’s ERG Theory 19 2.5.1 Using Alderfer’s ERG Theory at Workplace 20 2.6 Vroom’s Theory of Expectancy 20 2.6.1 Applying Vroom’s Expectancy Theory in an Organization 21 2.7 Locke’s Path Goal Theory 21 2.8 Studies on Employee Satisfaction 22 2.9 Theoretical Framework 24 3.RESEARCH METHODOLOGY 26 3.1 Research Philosophies 26 3.2 Research Design 27 3.3 Data Sources 28 3.4 Data Collection Tools 28 3.5 Sampling Strategy and Sample Size 29 3.6 Data Analysis 31 3.7 Validity and Reliability Concerns 32 3.8 Ethical Considerations 33 4.FINDINGS 34 4.1 Section A: Demographics 34 4.2 Section B: Human Resource Policies 37 4.3 Section C: Job satisfaction at Lloyd’s bank 43 4.4 Section D: Employee Training and Development Practices 48 4.5 Section E: Performance and Evaluation 48 4.6 Section F: Compensation 49 4.7 Section G: Employee Retention 51 4.8 Section H: Employee Commitment 52 5.DISCUSSION AND ANALYSIS 54 5.1 Analysis 56 6.CONCLUSION 59 6.1 Recommendations 61 6.2 Revisiting Aims and Objectives 62 6.3 Research Limitations and Future Research Scope 63 References 64 Appendix- I 73 THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) 1. INTRODUCTION Employee satisfaction is commonly defined as the measure of how happy and content an employee is with his/her job and working environment (Kennet & Salini 2011). It has been observed that at times even though the package offered to the employee is good, the employees become discouraged and resign from their jobs. Certain factors like limited growth opportunity, lack of appreciation and recognition, high job stress and even lack of communication within the organization discourage and frustrate an employee. The
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