'Measuring Employee Job Satisfaction in Real Estate ... 34th volume/2Mohammad Kabir.pdf ·...
Transcript of 'Measuring Employee Job Satisfaction in Real Estate ... 34th volume/2Mohammad Kabir.pdf ·...
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MEASURING EMPLOYEE JOB SATISFACTION IN REAL ESTATE
BUSINESS: A STUDY ON SOME SELECTED COMPANIES IN BANGLADESH
Mohammad Jonaed Kabir Assistant Professor, Department of Business Administration, International Islamic University Chittagong,
Bangladesh.
Abstract
Job satisfaction is one of the important requirements for employees’ motivation.
If employees satisfied on their job then they will be encouraged to render their
better services, they will be committed to the job and to the organization. When
the employees are committed then their efforts will be contributed to the
achievement of organizational objectives and both individual employee and the
organization will be benefited. But we know there are different types of
organizations and different types of peoples working in different locations. Job
satisfaction depends in different ways in different peoples in different
organizations. Real estate business is a flourishing industry in Bangladesh.
Within a very short span of time real estate has become one of the most lucrative
businesses of the country. With the growing economy, the demand for residential
along with commercial construction have radically augmented. Over the last
decade this sector has become extremely competitive. Today, numerous
registered real estate buildings are continuously working towards changing the
urban landscape of Bangladesh. A number of real estate companies are working
under one umbrella association named ' Real Estate and Housing Association of
Bangladesh' (REHAB). About a 1000 companies are at present affiliated with
association, while several other companies are working independently. This
study focuses on measuring employee’s job satisfaction in real estate business
and questionnaire analysis, which include regular assign activities, relationship
with others, flexible team spirit, contribution, compensation matches with
responsibilities, overall job satisfaction, salary structure, work environment,
performance bonus etc.
Key Words: Job Satisfaction, Real Estate Business
Objectives of the study
The main objective of this study is
"Measuring job satisfaction in real estate
business ".
The specific objectives are: To analyze the
factors influences in employee job
satisfaction. To evaluate employees job
satisfaction. To find out problems and
provide recommendations to overcome these
problems.
Literature Review
Job satisfaction is important for employees
as well as organizational achievements. It
has a great impact on employees’
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productivity. Job satisfaction has been
defined in several different ways and a
definitive designation for the term is
unlikely to materialize. A simple or general
way to define it therefore is as an attitudinal
variable: Job satisfaction is simply how
people feel about their jobs and different
aspects of their jobs. It is the extent to which
people like (satisfaction) or dislike
(dissatisfaction) their jobs (Spector, 1997).
There is a relationship between “job
satisfaction” and “motivation. However, the
two concepts can also be viewed as separate
concepts. Motivation can be defined as a
persistent effort directed towards a goal
(Wealleans, 2003). Job satisfaction, on the
other hand, refers to a collection of attitudes
that workers have towards their jobs (Johns,
1992; Robbins, Odendaal & Roodt, 2003).
There are various definitions of job
satisfaction. George and Jones (1996:70)
define it as “the collection of feelings and
beliefs that people have about their current
jobs”. According to Johns (1992), job
satisfaction is a collection of attitudes that
workers have about their jobs. Job
satisfaction may be defined in terms of the
way people react to their work environment.
Gannon (1979:186), for example, sees job
satisfaction as the “difference between the
amount of some valued outcome a person
receives and the amount of that outcome.”
Francis and Melbourne (1980) attempt to
summaries the various definitions of job
satisfaction as follows: Generally, job
satisfaction is the result of the individual’s
perception of what is needed and what is
received from different facets of the work
situation. The closer the expectation is to
what is actually received, the greater the job
satisfaction. According to these authors job
satisfaction sometimes refers to an overall
feeling of satisfaction or dissatisfaction with
the situation-as-a-whole (global
satisfaction). At other times, job satisfaction
refers to a person’s feelings toward specific
dimensions of the work environment (facet
satisfaction). As indicated by the above
definitions, job satisfaction can be defined
as an attitude that individuals have about
their jobs and it results from their perception
of their jobs and the degree to which there is
a good fit between the individual or the
needs of an individual and the organization.
It is the general understanding that job
satisfaction is an attitude towards job. In
other words job satisfaction is an affective
or emotional response toward various facets
of one’s job. A person with a high level of
job satisfaction holds positive attitudes
towards his or her job, while a person who is
dissatisfied with his or her job holds
negative attitudes about the job. Job
satisfaction is a result of employees’
perception of how well their job provides
those things which are viewed as important.
Job satisfaction is also defined as
reintegration of affect produced by
individual’s perception of fulfillment of his
needs in relation to his work and the
surrounding it (Saiyaden, 1993). Organ and
Hammer (1991) pointed out that job
satisfaction represents a complex
assemblage of cognition, emotion and
tendencies. It had also defined as
psychological reward that is experienced
directly by an employee (Stoner and
Freeman, 1992). There is ea negative
relationship between job satisfaction and
turnover. Pierce, Hazel, and Mion (1996)
examine the effect of a professional practice
model (PPM) on nurses’ job satisfaction and
turnover. Moreover, job satisfaction is
generally believed a higher job satisfaction
is associated with increased productivity,
lower absenteeism, and lower employee
turnover (Hackman & Oldham, 1975).
Amah (2009) stressed that job satisfaction
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was found to have a direct negative
relationship with turnover intention. As
mentioned by Khilji and Wang (2007)
reported that the impacts of labor turnover
on a hotel’s bottom line could be classified
into direct costs and indirect costs. From the
above literature study it is observed that job
satisfaction is employees’ positive attitude
about their job, considering all aspects of a
job.
Analysis and Findings:
Data has been collected from 200 employees
from 10 separate real estate business. Both
primary and secondary data are used for this
study. The analyses of the findings are as
follows:
1. Supervisor and subordinate relationship is very well.
Answer Response Percentage Color
Strongly Disagree 40 20% Blue
Disagree 56 28% Red
Neither agree or nor
disagree
24 12% Green
Agree 48 24% Purple
Strongly agree 32 16% Aqua
Source: Field work
20%
28%
12%
24%
16% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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Analysis: Among the 200 employees 40 says
that strongly disagree, 64 employees says
disagree, 16 says neither agree or nor
disagree, agree and strongly agree said by 48
& 32 employees respectively. That means
the relationship between supervisor and
subordinate is not so good.
2. Strong team spirit among the employees.
Answer Response Percentage Color
Strongly Disagree 48 24% Blue
Disagree 32 16% Red
Neither agree or nor
disagree
56 28% Green
Agree 40 20% Purple
Strongly agree 24 12% Aqua
Source: Field work
Analysis: Among the 200 employees 48 says
that strongly disagree, 32employees says
disagree, 56 says neither agree or nor
disagree, agree and disagree said by 40 & 24
employees respectively. The study shows
that the team spirit among the employees is
not satisfactory.
24%
16%
28%
20%
12% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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3. Appropriate recognitions received for employees’ contribution.
Answer Response Percentage Color
Strongly Disagree 56 28% Blue
Disagree 32 16% Red
Neither agree or nor
disagree
40 20% Green
Agree 40 20% Purple
Strongly agree 32 16% Aqua
Source: Field work
Analysis: Among the 25 employees 56 says that strongly disagree, 32 employees says disagree,
40 says neither agree or nor disagree, agree and disagree said by 40 &324 employees
respectively.
4. My compensation matches to my responsibilities.
Answer Response Percentage Color
Strongly Disagree 56 28% Blue
Disagree 24 12% Red
Neither agree or nor
disagree
48 24% Green
Agree 32 16% Purple
28%
16% 20%
20%
16% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
23
Strongly agree 40 20% Aqua
Source: Field work
Analysis: Among the 200 employees 56 says
that strongly disagree, 24 employees says
disagree, 48 says neither agree or nor
disagree, agree and strongly agree said by 32
& 40 employees respectively. The study
indicates that the compensation is not
satisfactory.
5. Level of satisfaction with the overall job security.
Answer Response Percentage Color
Strongly Disagree 16 8% Blue
Disagree 24 12% Red
Neither agree or nor
disagree
40 20% Green
Agree 64 32% Purple
Strongly agree 56 28% Aqua
Source: Field work
28%
12%
24%
16%
20%
Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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Analysis: Among the 200 employees 16 says
that strongly disagree, 24 employees says
disagree, 40 says neither agree or nor
disagree, agree and strongly agree said by 64
& 56 employees respectively. The job
security of the organizations is appreciable.
6. Employees received informal praise and appreciation from my supervisor.
Answer Response Percentage Color
Strongly Disagree 32 16% Blue
Disagree 40 20% Red
Neither agree or nor
disagree
24 12% Green
Agree 48 24% Purple
Strongly agree 56 28% Aqua
Source: Field work
8%
12%
20%
32%
28% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
25
Analysis: Among the 200 employees 32 says
that strongly disagree, 40 employees says
disagree, 24 says neither agree or nor
disagree, agree and strongly agree said by 48
& 56 employees respectively. Supervisors
praise and appreciate employees all times.
8. Level of satisfaction with the company as a place to work.
Answer Response Percentage Color
Strongly Disagree 24 12% Blue
Disagree 32 16% Red
Neither agree or nor
disagree
16 8% Green
Agree 72 36% Purple
Strongly agree 56 28% Aqua
Source: Field work
16%
20%
12%
24%
28%
Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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Analysis: Among the 200 employees 24 says
that strongly disagree, 32 employees says
disagree, 16 says neither agree or nor
disagree, agree and strongly agree said by 72
& 56 employees respectively. As work place
the organization is very suitable to most of
the respondents.
9. Positive with the work environment (office set up, working condition etc.)
Answer Response Percentage Color
Strongly Disagree 32 16% Blue
Disagree 40 20% Red
Neither agree or nor
disagree
24 12% Green
Agree 64 32% Purple
Strongly agree 40 20% Aqua
Source: Field work
12%
16%
8%
36%
28% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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Analysis: Among the 200 employees 32 says
that strongly disagree, 40 employees says
disagree, 24 says neither agree or nor
disagree, agree and disagree said by 64 & 40
employees respectively. The study shows
that the work environment is good and free
from hazards.
10. Supervisor always encourages by giving suggestion for improvement.
Answer Response Percentage Color
Strongly Disagree 24 12% Blue
Disagree 40 20% Red
Neither agree or nor
disagree
16 8% Green
Agree 72 36% Purple
Strongly agree 48 24% Aqua
Source: Field work
\
16%
20%
12% 32%
20%
Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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Analysis: Among the 200 employees 24 says
that strongly disagree, 40 employees says
disagree, 16 says neither agree or nor
disagree, agree and strongly agree said by 72
& 48 employees respectively. The
supervisors are very much employee
oriented.
Policy Recommendations
According to analysis of the findings, the
real estate business in Bangladesh needs to
follow some recommendations or
suggestions for the benefits of both
individual employee as well as
organizations, which are listed below:
1. Job description is one of the important
requirements for better performance. The
companies should clearly clarify regular
assign activities to employees for better
performance.
2. As the world is jobless world, job
security motivates employee. If jobs are
secured, then employees will be committed
to the job and organizations. So the
companies should take steps to maintain
adequate job security.
3. For the development of employees career
supervisor can play important role.
By giving accurate and timely feedback,
supervisors can identify employee’s strength
and weaknesses that helps to improve their
performance. Companies supervisors must
continue encourage for their improvement.
4. Compensation is one of the most
important sources of motivation for
employees in a third world country like
Bangladesh. So, salary structure of the
companies should be time to time revise in
relation to present job market.
5. Every organization must maintain the
legal obligations under compliance
management to create a safety and healthy
environment to reduce the probability of
accident. There must be maintaining good
working environment in everywhere.
6. All the employees are very much
conscious about their career. After joining in
12%
20%
8%
36%
24% Strongly Disagree
Disagree
Neither agree or not disagree
Agree
Strongly agree
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any organization, they want to develop their
career. But if there is no scope for career
development, they will be frustrated and will
not be dedicated to the job. So, the
companies should give promotion according
to employee’s contribution.
7. Supervisor’s must behave well with the
employees and give good acknowledgement
of good work. In that case the supervisors
can play important role to find out best
levels of services from the employees.
8. Good behavior and humanitarian
relationship should always be maintained at
office and work place. This will create a
cooperative entity within the organization.
9. Traditional organization was individual
oriented but modern organization is very
much team oriented. So flexible team spirit
in work environment should be maintained.
Conclusion:
Employee job satisfaction can improve
service quality and increase employee
satisfaction. In this circumstance, policy
makers and managers have turned their
attention to provide different kinds of
facilities to their employees. Based on the
standardized values, we are able to see that
work conditions, fairness, promotion, and
pay are key factors affecting real estate
company’s employees’ job satisfaction. We
can increase the employee salary and
compensation to motivate the employee. The
factor of work conditions is also proven to
have significant influence over the real
estate companies. The physical design of the
place does have certain impacts on job
satisfaction. Because the work conditions in
the real estate companies include the
employee relationships and work
environment, all these factors relate to
employee job satisfaction. A good work
environment and good work conditions can
increase employee job satisfaction and the
employees will try to give their best which
can increase the employee work
performance. Therefore, in the
questionnaires several elements have been
defined such as working condition, job
security, salary structure and relationship
with the employee and other benefits. These
elements are the determinant of whether it
affects employee’s satisfaction. In real estate
companies, the employees hope they all
receive equal treatment with respect to pay
or compensation.
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