IMPACT OF JOB SATISFACTION ON EMPLOYEE PRODUCTIVITY IN ZENITH BANK PLC, ABUJA

Job satisfaction is a critical factor in maintaining a healthy psychological contract between employers and employees. This study focuses on the significance of job satisfaction and its impact on employee productivity. Satisfied employees are considered valuable human capital in the competitive corporate environment, particularly in the banking sector. Job satisfaction plays a crucial role in organizational continuity, productivity, and employee engagement. Understanding and managing job satisfaction in the banking industry is essential for maintaining a positive work environment and ensuring employee productivity. Effective human resource management practices and high levels of job satisfaction positively influence employee productivity and the overall economy. Increased staff productivity is vital for achieving strategic goals and sustainable competitive advantage. Conversely, low job satisfaction can lead to negative outcomes, such as high turnover rates and reduced organizational effectiveness. Thus, fostering job satisfaction is vital for the long-term success and stability of businesses. 

 

One of the terms of service and a requirement for meeting employee demands is salary, which is a component of job satisfaction. Salary therefore represents a psychological contract between an employee and an employee, and when this psychological contract is broken by an employee, the employee is guaranteed to be unhappy. Satisfied workers are viewed as crucial human capital in today's cutthroat corporate environment, and banks are no exception given that their employees are their most precious asset (Karim et al., 2014). If they are extremely satisfied, they generate more as valuable assets for the company, which is advantageous for it (Garg, 2018). Although it is extremely simple to assess a company's performance using a variety of financial tools and approaches, it is highly challenging to establish whether the company is taking the proper steps to ensure that its people are satisfied with their jobs (Islam et al., 2012). 

Job satisfaction and employee productivity are crucial components for generating value and achieving effectiveness in firms (Tinuoye et al., 2016). Employee productivity levels are influenced by their level of job satisfaction (Adigwe & Oriola, 2015). Keeping staff happy is a key problem for business owners, particularly in the banking sector (Cooke & Bartram, 2015) because unsatisfied workers may have a detrimental impact on organizational effectiveness and raise the turnover rate (Adigwe & Oriola, 2015). Job satisfaction is crucial to maintaining organizational continuity, preventing the loss of experienced staff, and increasing productivity. The emotional response to a job is referred to as job satisfaction (Karim et al., 2014). It is a crucial factor in determining organizational effectiveness as well as employee work engagement (Musyoka, 2015). This has a significant impact on enhancing companies' financial condition (Islam et al., 2012) because lower-level employees' problems with morale, finances, and the economy will likely result from higherlevel employees' unhappiness. Operating conditions, rewards, the nature of the work, the co-workers and communication, pay, benefits, and promotions are some factors that contribute to job satisfaction. One of the most significant job areas in a service-oriented environment is the banking sector (Aziz et al., 2020). A good and welcoming environment is one of the most important drivers of organizational development and performance and one of the cornerstones of economic prosperity in any nation (Ali et al., 2018). 

Employees can be viewed in this light as one of the most crucial strategic components of competitive advantage (Huselid, 2003), as high employee satisfaction typically results in superior productivity, elevated participation, decreased turnover, job fitness (Sowmya & Panchanatham, 2011), and employee loyalty (De Gieter et al., 2015). The banking industry is currently defined by competition, change, value, inspiration, technology adaptation, and a diverse workforce (Gahlawat et al., 2019). Given the severity of competition within the service sector, banks need to comprehend how effective HRM practices affect organizational performance (Hosain, 2017; Ali et al., 2018). As a result, there is a greater need than ever for skilled personnel (Eldor & Harpaz, 2016). Job satisfaction among employees is crucial to the survival and performance of banks (Madu, 2014). For commercial companies to increase their customer base and revenue, it is crucial for executives of banks to maintain their workforces' levels of motivation and job satisfaction (Appiah-Adu & Amoako, 2016; McMurrian & Matulich, 2016; Mozammel & Haan, 2016). Employers spend a lot of money replacing highly skilled workers (Safaria, 2014; Wilton, 2016). 

Effective human resource management and maintaining a higher level of job satisfaction in banks influence the growth and success of the overall economy in addition to the bank's performance (Karim et al., 2014). Therefore, it is crucial for the success of banking to effectively manage human resources and determine whether or not its employees are satisfied. Only if they are, they will work diligently and present a favourable impression of the company (Karim et al., 2014). A productive, efficient, committed, and hard-working employee is any company's greatest asset (Islam et al., 2012). It should go without saying that increasing staff productivity is essential to any organization's ability to accomplish its aims and objectives. Achieving an organization's strategic goals will be challenging without staff productivity (Fugate et al., 2009). Ivancevich (2010) contended that a company's effectiveness is closely related to how committed its personnel are. 

According to Fiorita et al. (2007), employee productivity may result in positive outcomes for both individuals and companies, such as greater effectiveness, performance, and production as well as decreased attrition and absenteeism. Similar to what Bragg (2002) said, dedicated workers go above and beyond what is expected of them. According to Armstrong (2005), employee productivity is a natural process for people and organizations to attain effective performance. According to Whitener (2001), high levels of productivity are a useful strategy for increasing output and gaining sustainable competitive advantages. However, it should be emphasized that only loyal employees are content. Because of this, according to Samwel (2018), many businesses' long-term existence depends on a variety of factors, including competent and productive staff, who are only possible through high employee satisfaction. Reduced turnover and increased employee satisfaction aid in the business' stability. Since the employee is arguably the most important aspect of the business, employee satisfaction is seen as a crucial factor in the performance of the company. According to Kazmi (2011), a survey of Pakistani hospitals found that a lack of job satisfaction resulted in 60% of doctors quitting clinics and hospitals, which resulted in 500 patient fatalities. This demonstrates how effective succession planning and customer satisfaction are guaranteed by happy employees (Mello, 2007). Additionally, job satisfaction benefits corporate operations and is a crucial element in the development of productive working conditions. Under the right leadership style, it also plays a crucial role in acquiring and maintaining competitive advantage because higher performance entails better services and goods, faster service, and long-term relationships. All of which support the long-term growth and viability of the business. According to Opkara (2002), a variety of factors, such as pay, advancement prospects, the nature of the work itself, supervision, and connections with coworkers, have an impact on job satisfaction. According to Vidal et al. (2007), job satisfaction is a complex phenomenon that is influenced by factors including pay, the workplace, autonomy, communication, and organizational dedication. According to Nguyen et al. (2003), opportunities for promotion inside the company have a direct impact on job satisfaction. Job satisfaction is a part of Contentment of employees. Ellickson and Logsdon (2001) defined job satisfaction as the level of fervour employees have for their work. According to Singh and Pandey (2004), because jobs have so many different components, job satisfaction is typically thought of as a multidimensional concept.

Maintaining employee satisfaction at work is one of the issues facing business executives today because of how quickly the business environment and people's natures and expectations from the workplace are changing (Islam et al., 2012). (Vivek & Satyanarayana, 2016). Despite the crucial role that human capital plays in achieving organizational objectives, research have revealed that HR experts have not yet developed the most effective strategies for reducing employee turnover in the banking sector (Islam et al., 2012). According to Bednarska and Szczyt (2015), Ertürk and Vurgun (2015), Basri et al. (2017), and other authors, a drop in employee job satisfaction may lead to low productivity, lost revenue, absenteeism, high turnover, bad attitudes toward work, and a loss of faith in leadership. 

Numerous workers in the banking industry in Nigeria left their positions as a result of low levels of performance and recognition, intense workloads, a lack of employment flexibility, inadequate pay, and other issues that caused employee turnover in the banking industry (Adan & Amuhaya, 2021). Due to incidences of involuntary staff turnover brought on by poor pay and a lack of work-life balance, many commercial banks in Nigeria incur substantial employee replacement expenses, which lowers productivity in many institutions (Adan & Amuhaya, 2021). 

The study seeks to accomplish the following three (3) research objectives: 

The study seeks to answer the following research questions: 

These hypotheses were created in the null form based on the research objectives and research questions: 

Students and researchers who may want to utilize the materials as a reference for later usage will find the study to be helpful. When making judgments, it will also be a tool for bank management and other corporate groups. The information will be helpful for both government and non-government groups when making decisions and formulating policies. This study would be useful to scholars looking at staff productivity and job satisfaction in the Nigerian banking industry. The results of this study would also be helpful to the stakeholders in the service industries in Nigeria and the banking sector, as they will give them an understanding of the importance of job satisfaction and employee productivity in that industry. 

Employees of banks who are less satisfied with their jobs may be less productive, which could have an impact on the profitability and market share of the company (Evers et al., 2014). In order to decrease turnover, boost productivity, and lessen the fall in employee job happiness, business executives in the banking sector should look into measures that can be used to promote employee job satisfaction (Diemer, 2016). In order to improve employee job satisfaction in banks and other financial institutions, corporate leaders in the banking sector may find the study's findings useful in developing solutions. By implementing some of the study's recommendations, bank leaders may gain a better understanding of the workplace and perhaps lower the costs of recruiting, training, and mentoring new hires as a result of high employee turnover among unsatisfied workers (Evers et al., 2014). 

It is widely known that contented workers are more likely to feel content, work more competently, satisfy consumers, and increase organizational productivity (Hong et al., 2020; Sohail & Delin, 2013; Ali et al., 2018). Additionally, job satisfaction promotes organizational commitment (Davis & Newstrom, 2014) and employee empowerment (Hosain, 2014), which improves collaboration, performance, and development (Shrivastava & Purang, 2009). A healthy working environment that promotes increased employee contribution and an employee-friendly culture is ensured by a positive managementemployee interaction (Ali et al., 2018), which results in high productivity in the banking industry. 

The focus of this study is the Nigerian banking industry, more specifically Zenith Bank Plc, Abuja. In this survey, employees of Zenith Bank Plc in Abuja will be asked about their job happiness and productivity. Throughout the investigation, a questionnaire will be distributed to the several departments that in the bank’s branches. The study will look at things like employee attitudes toward career advancement and job happiness as indicators of how they affect staff productivity at the branches. 

Zenith Bank was established and incorporated by Mr. Jim Ovia (CON) as a private limited liability company in May 1990. It began operating as a commercial bank in July of that same year. Following a very successful Initial Public Offering (IPO), the company was transformed into a public limited company on June 17, 2004, and on October 21, 2004, it was listed on the Nigerian Stock Exchange (NSE). The Bank currently operates from more than 500 branches and business offices throughout 

Nigeria and its foreign subsidiaries in Ghana, Sierra Leone, Gambia, and the United Kingdom. The Bank employs more than 10,000 people worldwide. 

Job satisfaction: is a gauge of how contented employees are with their work.  

Employee productivity: is the volume of work that an employee produces over a given period of time. The quantity of goods and services produced by a workforce in a given period of time is known as employee productivity. 

Effectiveness: The quality or state of being effective. How well something works to bring about the desired outcome 

Payment: for regular work is referred to as pay. 

Promotion: means raising a worker's status or rank. 

Working conditions: When referring to the working environment and related terms and conditions of employment of an employee. 

Workplace attitude: How a person feels about various aspects of the workplace.