IMPACT OF CAREER DEVELOPMENT ON EMPLOYEE SATISFACTION IN PRIVATE BANKINKG SECTOR KARACHI

Abstract

Today's employees are more career conscious than ever, as this corporate world is going to be more competitive that's the reason employees are focusing more towards their career rather than their other needs to be satisfied. Organizations which are focusing on their careers can only retain their competitive employees by satisfying them. Purpose: This research was conducted to analyze the relationship between career development and employees' job satisfaction in Private Banking Sector Karachi. Methodology: Research was conducted from the employees of three categories ‘'Executives. Credit Officers and General Banking Officers" from five Private Banks like Meezan Bank. Bank Alfalah, Faysal Bank, UBL and Summit Bank. Convenience sampling technique was used and sample size was five hundred; from every bank 100 employees were administered with the questionnaire even though only 395 got filled. Research type is quantitative as result was analyzed quantitatively by using statistical software SPSS. Findings: The study determined that there is a strong significant relationship between career development and employee job satisfaction in banking sector. Employees are being satisfied with career development activities that are offered by their organizations. Organizations give career development opportunities to their employees so that their employees can be satisfied with their job. For that reason, it is essential that organizations place a high value on career development. This will allow employees to fulfill their career needs, and organization will benefit by satisfying a greater number of their competent and qualified employees. Practical implication: The result of this research helps managers and practitioners to understand that they can enhance the employee commitment by providing career development opportunities. Least hurdles in accessing the training and career development activities leads towards higher employees to be committed with the organization. Career development is a huge incentive for the organization as they foster employee loyalty, reduces turnover and employee satisfaction.