MGT-321 Group Project Section-1 Group-2

Mohammad Naim Islam

1110084030

Presented toJDN

Jashim Uddin Lecturer School of Business North South University Subject: Application to submit research paper on group project for section 1 Sir, We have completed the research project that was given to us at the first of this semester. The group project was to associate the statement Attitudes affect Job Satisfaction to any organization that operated in Bangladesh. We have chosen HSBC Bangladesh for our research base. We have followed the necessary instructions and have come up with results. So, I therefore pray that you would grant us the permission to submit this research paper as part of the course progress. Sincerely, Group-2, Section-1

Table of Content
Executive Summary Introduction Theoretical Findings Causes of Job Satisfaction Organizational Commitment Organizational Environment Leadership Whether the Job is Intrinsic Monitoring Employee Behavior Responses to Job Dissatisfaction Outcomes of Job Satisfaction at HSBC Findings Conclusion Acknowledgements

Executive summary
Attitudes and Job Satisfaction are intermittently linked factors of the human behavior. Basically, Job Satisfaction is a kind of Job Attitude that is appropriate for work. In the context of Bangladesh it may seem that the same logic doesnt work because the people are different. But attitudes affect job satisfaction in Bangladesh along with the rest of the world. HSBC Bangladesh has given its employees a vast range of rewards for their performance and also to keep them satisfied with work. HSBC employees enjoy a good work environment with friendly colleagues and superiors. This has created a positive attitude towards work among employees. So there is increased organizational commitment along with developed performance rates and lower turnover of employees. The leadership in HSBC is not autocratic; in fact superiors follow the more modern style which is friendly and open towards employees. This gives the employees a feeling that they are being respected as much as the other people at the job so they all have positive comments about their job at HSBC. Working at HSBC gives the employees to experience job enlargement and also job rotation. Employees are given the chance to explore into new departments so that they do not get bored on the job. A bored employee is much less productive than an enthusiastic one. Employees are given the opportunity to treat with customers and given advice by superiors on how to behave around others in the organization. There is no traditional training regarding how to behave and how your attitude should be like, but there are strict professional guidelines to maintain the employees behavior while they are at work. Employees are given the best opportunity to improve their careers while working at HSBC. So all in all the opportunities given by HSBC has a positive effect on its employees. They show positive attitude, and this attitude affects their behavior at work. As they have a positive attitude, they help create a better job environment for others. So all employees are satisfied with their jobs. So based on this research we can say that Attitudes affect Job Satisfaction is a statement that can be related with any organization operating in Bangladesh.

Introduction: The main goal of the project given to us was to relate the statement Attitudes affect Job Satisfaction to organizations that are currently operating in Bangladesh. In this report we have critically analyzed the statement, and tried to relate it to Hong Kong Shanghai Banking Corporation Bangladesh (HSBC Bangladesh). In this research we have gone through various journals and books to better understand what attitude and job satisfaction is. We have researched what it is that triggers people into feeling satisfied and what makes them dissatisfied. We have spoken to people about this statement and have taken their personal instances. These actions lead us to believe that the statement is true for an organization that is operating in Bangladesh

Theoretical Findings: Attitude: Basically, we define an attitude as a summary evaluation of an object of thought. An attitude object can be anything a person holds or discriminates in his/her mind. Attitude objects may be concrete (e.g. a tennis ball or a burger), abstract (e.g. freedom of speech), may be inanimate things (e.g. sports cars or houses), persons (e.g. Angelina Jolie) or groups (e.g. foreigners or conservative people). (Gerd Bohner, Micheala Wanke, 2002) So, different people demonstrate various attitudes towards different subjects. And as this occurs in a daily basis in a persons daily life, it is bound to effect h is/her behavior while working with an organization. There are three components of an attitude, they are: 1. Cognitive 2. Affective 3. Behavioral In this research we try to relate how attitudes control or affect the behavior of a job holder.

Job satisfaction: Job Satisfaction is one of the major Job attitudes that effect organizational behavior. It is basically how happy an individual is with his/her job. Logic dictates that the happier a person is

with work, the more satisfied he/she is. But psychology says that even if the person is happy with a few aspects doesnt mean he/she is fully satisfied. According to leading researchers the key point to a satisfied employee is better work design. Work design is the socio technical way to motivate employees to do a better job; these include giving performance rewards, bonuses holding seminars etc. Job satisfaction is intricately linked with other major job attitudes such as Job Involvement, Psychological empowerment, organizational commitment, perceived organizational support, employee engagement etc. It can also be said that some of these attitudes may be the cause of job satisfaction in some cases. Causes of Job Satisfaction: In HSBC Bangladesh, most of the employees who work their say that one of the key reasons of being satisfied is that they are well paid and also the level of professional development they achieve from working there. The people at HSBC enjoy different employee benefits designed to fit their individual needs. They also have an open environment that helps maintain a good relationship between peers. So they have good communication between each other so work performance is satisfactory. Rewards: In HSBC the main reason for Job satisfaction is the various rewards that they give to their employees. A few are listed below: 1. Performance Bonuses: Employees are given salary bonuses based on their performance in a yearly basis. 2. Paid Leave: HSBC employees are allowed 30 days of paid leave. They also receive almost double their basic salary amounts during this leave. 3. Discounts: HSBC offers their employees discounts on several financial products and services such as credit cards, bank accounts and also corporate rates on different products. 4. Loans: Employees are given unsecured personal loans at concessionary rates or interest free loans, repayable via payroll deduction or other means chosen by the employee. 5. Staff banking privileges, including special interest rates for car loans, sundry loans and home loans. 6. Retirement Benefits. 7. Staff banking privileges: Special rates of interest for employees account, mortgage subsidies etc.

These are but a few of the privileges offered by HSBC. Organizational commitment: Organizational commitment reflects the extent to which an individual identifies with an organization and is committed to its goals. A meta-analysis of 68 studies and 35,282 individuals uncovered a significant and strong relationship between organizational commitment and satisfaction. Managers are advised to increase job satisfaction in order to elicit higher levels of commitment. In turn, higher commitment can facilitate higher productivity. (Organizational Behavior", Robert Kreitner and Angelo Kinicki, fifth edition, chapter-7, page-227.)

"Organizational commitment is the individual's psychological attachment to the organization." "Strength of the feeling of responsibility that an employee has towards the mission of the organization." ( http://www.businessdictionary.com/definition/organizational-commitment.html#ixzz1zRGdsu51, 2-7-2012, 10:46 am, Business dictionary.com.) Organizational commitment is, in other words, an individual's psychological attachment to an organization and desire to remain part of it. It is normally measured by attitudinal dimensions, e.g. identification with the goals and values of the organization; desire to belong to the organization; and willingness to display effort on behalf of the organization. A distinction is sometimes made between affective commitment, which involves a sense of loyalty and shared values, and mere continuance commitment, which arises from inertia or the problems of finding alternative employment.

(Encyclopedia.com, http://www.encyclopedia.com/doc/1O18-organizationalcommitment.html, 296-2012, 11:03am.) Commitment of HSBC: HSBC has a clear vision of helping the community. Corporate sustainability means addressing the expectations of the customers, shareholders, employees, and other stakeholders in managing business not just for today, but also for the future. As a group: HSBC values the people in recognizing that they are the true stakeholders of the company. Treat the employees as the most valuable asset. It provides them a world-class working environment and inspire in them the spirit of service. As an employer: The organization values the people in recognizing that they are the true stakeholders of the company and treats the employees as the most valuable asset. They provide them a world-class working environment and inspire in them the spirit of service. As a part of this community: HSBC engages in programs involving the youth and the environment. It partner with recognized organizations that feel the pulse of the community and give assistance in whatever way we can. Every little action, every small detail, is more than enough to make a lasting impact to our community. As a world mover: They help transform lives through state of the art programs and services that put premium on banking and finance. They better our standards and work on improving them daily and aim to provide quality service that keeps in step with the world. Through the years, HSBC has remained true to its global call of being the worlds local bank. (https://www.hsbc.com.ph/1/2/aboutus/sustainability, from the website of HSBC, 11:10 am, 27-62012.)

Organizational Environment: A work environment is made up of a range of factors, including company culture, management styles, hierarchies and human resources policies. Employee satisfaction is the degree to which employees feel personally fulfilled and content in their job roles. Employee turnover is the rate at which employees leave their employers, whether voluntarily or involuntarily. These three distinct concepts are inseparably linked; workplace environments greatly influence employee satisfaction, which in turn directly affects employee turnover rates. Knowing how to use a positive work environment to increase employee satisfaction and reduce turnover is a key to developing a high-performance workforce.

At HSBC every employee is given the opportunity to perform accordingly in their roles. Their performance speaks for the friendly work environment they are all used to. This is not something spoken by the point of view of an outsider, interviewing the employees of the HSBC HQ in Bangladesh reveals that maximum of the employees have a positive attitude towards their job because they are a part of a professional family of sorts. Some also relate that because most or as we can say, all of the employees feel that the attitude of each individual is very positive and it makes for a good environment to work. Personal respect for employees at all levels of a company is an integral part of a positive work environment. Personal respect in the workplace encompasses such issues as discrimination based on age, gender or ethnic background, sexual harassment and the role of personal politics in forming workplace relationships. In general, the more personal respect employees are given at work, the more satisfied they will be in their jobs. A lack of personal respect can cause employees in high-paying positions to quit their jobs, increasing employee turnover. HSBC employees are given respect according to their performance from their employers. But most employees dont have to bother too much about getting along with other employees including superiors. The degree to which companies offer personal and professional growth opportunities for employees plays into the overall work environment. Opportunities to learn new skills, take on new responsibilities, achieve higher compensation and gain new positions can allow employees to set and work towards goals, conveying a sense of personal achievement that boosts employee satisfaction. Employees rarely prefer to remain static in their careers for long. Rather, most people continually look for opportunities to advance. Providing these opportunities can keep your employee turnover levels under control, as employees stick with you for longer to achieve their personal and career goals. HSBC offers employees to develop their careers in unique ways. They rotate their employees to give them a hang of how every aspect of the organization works. A Risk Analytics Manager may be sent off to Chittagong to Head off a branch for a few short weeks, this gives him the extra experience of working with different people and adapting to different situations. Also HSBC offers different training programs and opportunities to study abroad or gifted and willing employees.
(http://smallbusiness.chron.com/relationship-between-work-environment-job-satisfaction-

organization-employee-turnover-11980.html)

Leadership: Leadership plays an important role in determining employees commitment. Resear chers have found that employees who are pleased with their supervisors/leaders and feel that they are being treated with respect and are valued by their management feel more attachment with their organizations (Stup, 2006). Muthuveloo and Rose (2005) defined organizational commitment as workers level of involvement with his job and organization. If leaders want to produce a positive influence on individuals, groups and organizations, then leadership should be broadened from old rigid autocratic style to friendly and contemporary style (Dess et al., 1998). Modern leaders perfectly adopt an attitude that support employees, provide them a vision, cultivate hope, encourage them to think innovatively, individualized consideration and broaden the communication. All these factors are the main features of transformational leadership style leading to boost up organizational strengths and increasing level of job satisfaction and organizational commitment in workforce. Employees who are satisfied with their jobs tend to be more creative and innovative that help businesses to grow, flourish and bring positive changes according to market situations and thus making organizations able to compete at international level. In HSBC the superior officers give the junior officers ample chances to prove themselves. Different challenges and day to day operations are met by creating teams among different people. In the team a unit head is elected to lead. The leader is elected on the basis of past record and experience. As all employees have ample knowledge about each other at HSBC, the transition from employee to leader is easy. This gives the company a de-centralized structure; employees have job importance and enrichment. So it is safe to say that people at HSBC follow the contemporary method in leadership rather than the classic autocratic leadership styles. (http://www.ijbssnet.com/journals/Vol_2_No_18_October_2011/31.pdf) Whether The Job Is Intrinsic: Many studies show that interesting work and sense of accomplishment are some of the greatest motivators for an employee. These rewards lead to the type of motivation known as "intrinsic," which can be defined as causing "people to engage in an activity for its own sake" (www.reference.com). Studies show that intrinsic motivation is important for high job satisfaction, which can affect an organization's performance. Many different techniques exist to intrinsically motivate employees. Some include: job enlargement, job rotation, and job enrichment. One method that may raise an employee's intrinsic motivation is job enlargement. Job enlargement is defined as "a method of job design that increases the number of activities in a job to overcome the boredom of overspecialized work" (Nelson & Quick, 471). For example, an operations manager at HSBC may become bored with working on the same routine as always. Thats why rotation is in effect, including changes in departments under operations and also short or long term transfers. According to Einhorn and Gallagher, several studies

conducted that measured the benefits of job enlargement showed increased employee job satisfaction, reduced costs, increased quality and quantity of output, and decreased monotony. These benefits not only have positive effects on employees, but on the organization as well. Job rotation is defined as "a variation of job enlargement in which workers are exposed to a variety of specialized jobs over time" (Nelson & Quick, 471). An example is an office worker at HSBC who rotates from customer service, to filing, to answering phones over a certain time period. Job rotation provides employees with the opportunity to experience many different areas of work within an organization, causing them to have a broader perspective of their position in the company. The purpose of job rotation is very similar to that of job enlargement, which is "to augment worker motivation by eliciting intrinsic incentives derived from a job made more varied and presumably more interesting" (Einhorn & Gallagher, 360). Both job enlargement and job rotation prove to be successful in augmenting intrinsic motivation. Therefore, due to the findings in their research, Einhorn and Gallagher conclude that "job enlargement is a valuable tool in positively affecting worker motivation". Another method to intrinsically motivate employees is job enrichment. Nelson and Quick define job enrichment as "designing or redesigning jobs by incorporating motivational factors into them". For instance, an employee at Harley Davidson not only assists in the building of the motorcycles, but assists in the planning and selling of them as well. Job enrichment "aims at fostering intrinsic motivation through granting increased responsibility in the work situation" (Einhorn & Gallagher, 360). Usually employees consider the gains of this method to be the ability to assist in planning and to evaluate performance and aspects of the job. Studies have been done on the effects of job enrichment and most have found there are fewer employee absences, lower costs, and lower turnover rates. These findings support that the use of intrinsic motivation within an organization is key to its success. We can, in the same way relate the above example and explanation to people working at HSBC Bangladesh. (http://voices.yahoo.com/intrinsic-motivation-workplace-equals-higher-1556797.html)

Monitoring Employees Behavior: Distribute employee opinion surveys once a year and invite employees to submit suggestions for improvement. These are two effective methods for monitoring job satisfaction. Employees want to be heard, and often want their concerns to be kept confidential. At HSBC, an employee opinion survey captures information your human resources department can use for resolving employee concerns. Employees understand every concern, issue or complaint can't be resolved according to their individual satisfaction; however, the company's distribution of an employee opinion survey illustrates the company's interest in employee voices. Follow up on the

employee opinion surveys is the other integral part of monitoring job satisfaction. Without follow up on employee responses, administering an annual employee opinion survey is a meaningless exercise.

(http://www.ehow.com/how_7280993_monitor-employee-motivation_-satisfactionperformance.html)

Responses to dissatisfaction: As weve seen before, the attitudes of different people make or break an entire organizations goodwill in the market so, it is important that employees dont have a reason to be dissatisfied with the organization. That would evoke bad job attitudes from an employee or employees in general. So like all companies, HSBC works very carefully to maintain a good standard of employee ethics and code of conduct so that employees can work at ease, with a positive attitude. And as we can see the success of HSBC in Bangladesh, we could certainly say that their internal job policies are working. According to Organizational Behavior theorists, employees show 4 kinds of tendencies or attitudes towards job dissatisfaction. The 4 are: 1. 2. 3. 4. Exit Voice Neglect Loyalty

Exit is the tendency to believe that the job condition is never going to improve, so the employee(s) believe that the conditions at work are way too much bad. No employee at HSBC has shown this kind of tendency or attitude towards their organization. Voice is the positive way to fight dissatisfaction. Voice is the attitude to actively trying to improve the conditions of work. At HSBC employees take on this attitude in case of small work place dilemma or crisis. According to employees, there never has been a large enough cause of dissatisfaction to bring about revolutionary changes. But the few changes that have been made are well noted. Loyalty is the attitude of waiting for conditions to improve. As said before the employees at HSBC think that there is no major cause of job dissatisfaction.

Neglect is the attitude of employees that allows conditions to worsen. Although HSBC may have a clean record regarding employee benefits and satisfaction, it is never too careful to be mindful of further developments on the negative side. As peoples attitudes are unpredictable, there may be an employee who has a hidden cause, small though it may be, to be dissatisfied with how the organization treats him/her. So neglect is something to watch out for. Outcomes of Job Satisfaction at HSBC: As it is clear from the descriptions and examples given above, employees at HSBC feel that they have a very good work environment and bountiful rewards. This causes their job attitudes to be in a positive slope. Disregarding their personal feelings would be wise in general, because at HSBC, employees are expected to take their personal discrepancies elsewhere. This is the strict rule that is maintained by employees without question and all agree that it is the best to support positive attitude, which leads to superior amount of job satisfaction. Because employees at HSBC are satisfied with their work, the organization has gained fruitful outcomes such as: 1. Job performance is always in the positive side at HSBC. Supervisors motivate employees in a friendly manner to encourage them with their work. A positive attitude towards their work has given HSBC employees a good record of performance overall. 2. Most employees at HSBC are fair when it comes to treating customers and attending to their needs. They also debate ethical issues regarding policies of the bank, in the interest of the population in general. 3. HSBC customers in Bangladesh give testimony that the service at HSBC is much more efficient and fast because their employees are diligent. This, we believe is caused by job satisfaction and farther on a positive attitude towards their job. 4. As most employees have a positive attitude towards their work, there is a lower tendency to neglect work and cause malfunctions. And as the environment is friendly and the benefits are ample, most employees tend not to quit their jobs at HSBC unless there is a better or worse reason for expulsion.

Findings: After reviewing the research paper, it will be clear that based on what we have gathered from people at HSBC, what affects their mental attitude, effects their work attitude. Attitudes are controlled by various different factors. But because of the strict regulations at HSBC, we can

rule out personal feelings while working. Although that maybe the case for minor malfunctions in the job, employees at HSBC show that having a positive attitude toward work, causes Job satisfaction. And we can say the opposite that being satisfied with ones job, causes positive attitude to form towards the work place. So the output we get is increased job performance, lower disturbances, higher acceptability, employee development and an overall friendly environment. Conclusion: Throughout the course of our research we have seen that organizations are driven by their employees. As like a car, if the driver is in a bad temper and has a bad attitude towards the rules of the road, there is bound to be an accident. Same goes for an organization. For all organizations disregarding location and stature. An organization with clear reasons for the employees to be satisfied, also boasts the power of positive attitude. Employees with positive attitude show greater commitment, loyalty and performance to an organization. So it is true that Attitudes affect job satisfaction and also vice-versa.

Acknowledgments:

Mohammad Fahmid Islam Risk Analytics and MI Manager Asia Pacific Risk HSBC Bangladesh

Mohammad Nazmul Islam Additional Secretary Ministry of Public Administration Bangladesh Secretariat