Impact of Non Monetary Benefits on Job Satisfaction and Employee Retention in Pakistani Banking Sector

Abstract

Purpose- The purpose of this study is to examine the relationship between the job satisfaction and retention of the employees. It has also explored the factors and the needs which are important to satisfy the employees working in the different banks in Karachi. Methodology and Sampling- A Questionnaire was constructed to collect data from different bankers operating in Karachi. A sample of 120 respondents was made. The questionnaire was administrated in different national and international banks. Findings- The paper has proved a strong relation between the job satisfaction and the retention of the employees. Different factors of the job satisfaction have been discussed in the paper. The papers also support the idea that satisfied employees are less inclined to leave the organization. All the alternative hypotheses are accepted after the analysis of the data collected. Practical Implications- The paper has provided valuable insight on the needs of the employees related to their work. If there needs are fulfilled and been taken care by the organization they will stay committed to the organization and will be less likely to leave the job. The paper discusses the retention of the employees through job satisfaction.