measuring employee job satisfaction in real estate ... 34th volume/2mohammad kabir.pdf · measuring...

18

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.

[email protected]

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’

19

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

20

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

21

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.



Disagree 32 16% Red


disagree

56 28% Green

Agree 40 20% Purple


Source: Field work


that strongly disagree, 32employees says


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%


Disagree


Agree

Strongly agree

22

3. Appropriate recognitions received for employees’ contribution.



Disagree 32 16% Red


disagree

40 20% Green

Agree 40 20% Purple


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.



Disagree 24 12% Red


disagree

48 24% Green

Agree 32 16% Purple

28%

16% 20%

20%


Disagree


Agree

Strongly agree

23


Source: Field work





& 40 employees respectively. The study

indicates that the compensation is not

satisfactory.

5. Level of satisfaction with the overall job security.



Disagree 24 12% Red


disagree

40 20% Green

Agree 64 32% Purple


Source: Field work

28%

12%

24%

16%

20%

Strongly Disagree

Disagree


Agree

Strongly agree

24





& 56 employees respectively. The job

security of the organizations is appreciable.

6. Employees received informal praise and appreciation from my supervisor.



Disagree 40 20% Red


disagree

24 12% Green

Agree 48 24% Purple


Source: Field work

8%

12%

20%

32%


Disagree


Agree

Strongly agree

25





& 56 employees respectively. Supervisors

praise and appreciate employees all times.

8. Level of satisfaction with the company as a place to work.



Disagree 32 16% Red


disagree

16 8% Green

Agree 72 36% Purple


Source: Field work

16%

20%

12%

24%

28%

Strongly Disagree

Disagree


Agree

Strongly agree

26





& 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.)



Disagree 40 20% Red


disagree

24 12% Green

Agree 64 32% Purple


Source: Field work

12%

16%

8%

36%


Disagree


Agree

Strongly agree

27




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.



Disagree 40 20% Red


disagree

16 8% Green

Agree 72 36% Purple


Source: Field work

\

16%

20%

12% 32%

20%

Strongly Disagree

Disagree


Agree

Strongly agree

28





& 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%


Disagree


Agree

Strongly agree

29

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.

References

1. Spector, P.E. (1997). Job

satisfaction: application,

assessment, cause, and

consequences. Thousand Oaks,

CA: Sage.

2. Wealleans, F. (2003). Psychology

at work. New York: Columbia

University Press.

3. Johns, G. (1992). Organisational

behaviour: Understanding life at

work. (3rd

ed.). New York: Harper

Collins.

4. George, W. & Jones, I. (1976).

Work performance. New Delhi:

McGraw-Hill.

5. Gannon, W. (1979). Personnel

management. Beverly Hills, CA:

Sage.

6. Francis, J.G. & Melbourne, G.

(1980). Human behaviour in the

work environment: A managerial

perspective. Santa Monica, CA:

Goodyear.

30

7. Saiyaden, M. A. (1993) Human

Resource Management, New

Delhi, McGraw-Hill.

8. Organ, D. W. and Hammer W. C.

(1991) Organizational Behavior:

An Applied Psychological

Approach, Business Publications:

Texas.

9. Stoner, J. A. F. and Freeman, S.

(1992) Management, Prentice hall

of India, New Delhi.

10. Pierce, L. L., Hazel, C. M. &

Mion, L. C. (1996). Effects of a

Professional Practice Model on

Autonomy, Job Satisfaction and

Turnover. Nursing Management,

27(2), 48-53.

11. Hackman, J. R. & Oldham, G. R.

(1975). Development of the job

diagnostic survey. Journal of

Applied Psychology, 60, 159-170.

12. Amah, O. E. (2009). Job

Satisfaction and Turnover

Intention Relationship: The

Moderating Effect of Job Role

Centrality and Life Satisfaction.

Research and Practice in Human

Resource Management, 17(1), 24-

35.

13. Khilji, S. & Wang, X. (2007). New

evidence in an old debate:

Investigating the relationship

between HR satisfaction and

turnover. International Business

Review, 16(3), 377-395.

measuring employee job satisfaction in real estate ... 34th volume/2mohammad kabir.pdf · measuring...

Documents