Employee Engagement in Banking Industry

     Many organizations strive to make the most out of its customers and employees. Gallup (2006) ,in his studies ,determined barriers to engagement across many industries in many countries and found more than 200 barriers. After evaluating the root causes of each, he traced five primary causes regardless of the industry, function or geography of the company. (Gallup,2006,p.274).Further , Rothwel (2021) clearly explained under mentioned factors with related to barriers to engagement(BPI). 1. Lack of Clarity      It is evident that the engaged employees are satisfied with their jobs and what they do and motivated to perform better roles in the organization by being loyal to the job. Finally they are proud about their role in the work place. Further, if the employees are not certain about their job role, it will be a great barrier towards achieving stated goals of the organization as employees are unable to collaborate towards a common goal.  2. Cyni...

     The area of employee engagement and employee satisfaction have been thoroughly researched, especially in the present days. To reduce employee turnover and to improve productivity, organizations try to recruit and keep their best employees satisfied and engaged. Employee engagement responds to the emotional connection employees have with their work, by investing their personal physical and emotional energy during their occupation performances (Kahn, 1990). Employee engagement is a metric that measures a person's "pleasure" with their current job and workplace circumstances; it doesn't take into account that however much effort the employee is prepared to put in, and it serves as the basis for employee participation to survive and flourish.(Perera and Wijewardene, 2019).      According to Gallup (2005), when employees are showing devotion to their obligations in the place of work, they tend to present more productivity and efficiency to their stated task...

          According to the Institute for Employment studies (IES) (2014, p.21) the strongest driver of Employee Engagement is when employees feel they are ‘valued and involved’. Further it mentioned undermentioned factors with related to drivers.      Employee engagement is influenced by many interrelated factors. According to Charted Institute of Personal Development (CIPD,2007)  there is ‘no definitive all‐purpose list of engagement drivers’ . Additionally CIPD stated that employee engagement is driven by opportunities for upwards feedback, effective consultation and communication systems, and a manager who is fair and visibly committed to the organization. Cleland et al.,( 2008) identified three key  drivers which support engagement, namely the work undertaken, the managers, and the level of autonomy and control given on the individual.  These were:  Work: job challenge; clear goals and accountability; freedom to act; ...

  ‘Physical, emotional and psychological resources are a necessary pre‐requisite for engaging at work’ (Kahn ,1990, cited in Sonnentag, 2003 p. 519). According to the recent HR findings, there are three tiers of engagement drivers, as illustrated in the diagram below: Figure 1: Emerging Model of Employee Engagement Drivers Dutta & Sandhir (2016) stated that undermentioned factors have direct impact on employee engagement. Basic Needs • Infrastructure and ambiance are excellent. • Satisfaction, safety, and decent working conditions are all important factors. • Compensation and perks are comparable  Bank Practices • Corporate Social Responsibility (CSR) is something the bank is very passionate about. • To meet personal responsibilities, a suitable leave and supplementary benefits policy should be in place. • Customer-focused business with ethical work methods. • Management considers employee feedback/opinions while making decisions on future changes  • I...

       It is evident that employee engagement may influence organizational effectiveness. Employee engagement has a positive relationship with the organizational outcomes, such as increase the profitability and drive to enhanced financial performance. Further, employee engagement will retain the best employees and the organization (Macauley, 2015).      The rapid change in global economy cause the change of organizational culture and the perception of engagement in the organization. Karthikeyan et al., (2013) mentioned numerous factor could contribute to predicting employee engagement like leadership style, organizational culture, and compensation. Leadership      Leadership and employee engagement together have positive and significance relationship. Additionally, leadership style developed as the most influential factor towards the employee engagement followed by work-life balance, communication and pay and benefits (Ganesan et al., 20...

     Banking being one of the key service sectors in Sri Lanka has observed strong growth and expansion over the last decades. Sharma & Dutta (2016) mentioned that “Rising incomes enhanced the need for banking services which resulted in great boom in terms of advanced technology, prompt communication system and conception of various banks to cope up with multinational led environment.” Further in their study they mentioned that the committed employees create the best customer stories which make the brand worthy.      “The banking sector in Sri Lanka, which comprises Licensed Commercial Banks (LCBs) and licensed Specialized banks (LSBs), dominates the financial system and accounts for the highest share of the total assets in the financial system”(CBSL,2020). Further  CBSL sources stated that, there are 24 Licensed Commercial Banks and 6 licensed Specialized Banks operating in the Banking sector in Sri Lanka. Banks play a serious role within the Sri ...