UNDERSTANDING HOW THE ISSUE OF LOW STAFF REMUNERATION IS AFFECTING THE JOB SATISFACTION OF THE EMPLOYEES OF BANK OF AFRICA-GHANA.

ABSTRACT

The purpose of this study is to provide an understanding on how the issue of low staff remuneration is affecting the job satisfaction of the employees of Bank of Africa-Ghana. Respondents were randomly selected and structured questionnaires were distributed to them to complete over a period of one to two weeks depending on the respondents availability and readiness. At the end of the retrieval all of the questionnaires totaling 50 were used for the research as none of the questionnaires had missing data and outliers. From the analysis and findings, a conclusion was drawn that majority of the employees believe that their performance will have an impact on both the growth of the bank and that of the employees themselves; it is expected that to increase job satisfaction the performance of the employees should also increase. Also, job satisfaction tends to be low as the findings from the data analysis indicated that 66% of the respondents hold the perception that they are not intrinsically motivated enough to be committed to their work. Another major reality is that if there are inadequate extrinsic motivations to improve the level of commitment at work, the employees are likely to experience poor job satisfaction. This statement is as a result of the fact that 54% of the total respondents both strongly agreed and agreed that extrinsically motivated person will show commitment to the extent that he or she can gain some external rewards from the job. The bank should maintain and enhance an atmosphere where employees are provided with rewards that will positively influence the job satisfaction they experience. This recommendation will also help to tackle the issue of the bank’s staff perception of not experiencing job satisfaction in the organization and hence its negative impact on the quality of service they render.