EFFECTS OF WORK PERKS ON JOB SATISFACTION AMONG THE EMPLOYEES OF BANKING INDUSTRY IN BANGLADESH

Abstract

In the modern business world featured with much talent intensive organizations, employee job satisfaction has become a major challenge for the employer. One of the major variables influencing employee job satisfaction is the nature of benefits organizations arrange for their employees. Non-monetary benefits especially work perks impress employees much which in turn helps firms attract and retain competent workforce. Consequently, this paper aims at examining the effects of work perks on employee job satisfaction. A total of 383 employees working in the banking industry of Bangladesh participated in the study. Through the use of a self-administered questionnaire, data has been collected. After collecting data, the study's hypotheses were tested using correlation and regression analysis techniques. The findings show that administrative privileges, cash benefits, and severance pay all significantly improve employee work satisfaction. However, the study discovered that benefits connected to personal and family life, food and entertainment, and medical and healthcare did not significantly affect job satisfaction. According to the survey, firms should ensure that their work perks are well-designed as a way to achieve worker satisfaction, which is a requirement for efficiency, productivity, and commitment.