Perceived Organizational Support versus Compensation for Employees’ Satisfaction in Banks of Pakistan

Nimra  Kafeel; Nabila  Kausar; Aiza Hussain  Rana

Nimra Kafeel Department of Management Sciences, Lahore Garrison University, Lahore, Punjab, Pakistan.
Nabila Kausar Department of Management Sciences , Lahore Garrison University, Lahore, Punjab, Pakistan.
Aiza Hussain Rana Assistant Professor, Department of Management Sciences , Lahore Garrison University, Lahore, Punjab, Pakistan.

Keywords: Perceived Organizational Support, Compensation and Reward, Job Satisfaction

Abstract

Satisfied workforce is a prerequisite for the success of organizations. Current research focuses on finding a perfect way of keeping employees satisfied by comparing perceived organizational support and ‘compensation and reward’ in the banking sector of Pakistan. In order to fulfil this objective, data was gathered from 100% employees of each of the 72 branches which were selected by using simple random sampling technique. Survey based on structured questionnaire was made. 400 questionnaires were distributed out of which 347 were returned, quoting a response rate of 87%. In order to analyse gathered data, SPSS 21 was used. Pearson’s correlation and simple linear regression were used for testing hypotheses. Results displayed that both perceived organizational support and compensation play role in increasing job satisfaction but there is dominancy of one factor in this regard. Findings will not only enable banks to have satisfied employees but also satisfied customers.