The Impact of Work-Life Balance on Job Satisfaction on Banking Sectors

 

Work-Life Balance

Work-life balance is an aspect of employee well-being related to the employee's ability to manage both personal and professional responsibilities with adequate time for rest and leisure. Each individual may define his or her ideal work-life balance differently.

Importance of Work-Life Balance

Working on a job for a company and making a career can be an extremely time consuming duty for any employee. Employees are busy at their offices throughout the day and sometimes even on weekends. This gives them very little time to interact with their family. Because of high pressure of work, often family members get neglected. Also, stressful jobs cause the health of employees to deteriorate. This is where work life balance come into the picture. Work life balance concept allows an employee to maintain a fine balance in the time he or she gives to work as well as to personal matters. By having a good balance, people can have a quality of work life.

This helps to increase productivity at workplace as the employee is relaxed about his personal commitments. It also allows the employee to give quality time with family to spend vacations, leisure time, work on his/her health etc. Hence work life balance is extremely important for employees and increases their motivation to work for the company.

The below image depicts a work life balance scenario, where an employee has to balance his/her life between personal (family, friends & self) and professional (job, career) commitments. (mbaskool, 2023)

Job Satisfaction

Job satisfaction can be defined as an employee is said to be satisfied from his/ her work when he/she feels comfort in while working in the organization. Kamal and Sengupta (2008) defined the term satisfaction as a simple feeling/state accompanying the attainment by an impulse of his/her objectives and job satisfaction therefore, refers to ones view of favorableness of his/ her work. According to Opatha (2009), Job satisfaction means, “the degree of enjoyment an employee feels towards his job being performed”.

Based on the banking sectors there are more competitors in the banking industry, compared to other sectors. So when the employees working in the banking sectors they will consider as highly stress full. So the organization keep their employees satisfied their work.

A flexible working environment allows employees to balance personal and professional responsibilities. The banking sector which comes under service sector completely depends on customers and therefore, they treat their customers as kings. In order to retain the customers, the banks should provide a quality service Therefore, the employees especially managers, should be motivated by the management to get positive involvement to achieve bank’s target. (Esther, 2022)

High quality of Work Life Balance will improve the Job satisfaction and vice versa. The Work Life Balance and the Job Satisfaction of managerial level employees of NDB Bank are at lower level. Flexible Work Life Balance initiatives should be designed by the management to help the employees to balance their Work and Personal Life. As well they should increase the intrinsic aspects of Job Satisfaction which is how people feel about the nature of the job tasks themselves and on the other hand extrinsic Job Satisfaction is how people feel about aspects of the work situation that are external to the job tasks or the work itself. If employees feel that that they are able to balance their Work and Life they will be highly satisfied with their job and it will lead to high productivity and High profitability of the bank. Hence, “Work Life Balance is not a problem to be solved but an ongoing issue to be managed”.  (Sangarandeniya, 2015)

Long working hours, marital status, and salary packages, if favorable, can assist many working women in taking care of their partners, children, and other responsibilities, which could lead to a happy and successful personal life. On the contrary, if WLB is not given due attention, it becomes nearly impossible for women working in the banking sector to successfully lead a personal life. . Consequently, personal life sometimes needs to be sacrificed at the cost of professional life. Therefore, our study recommends that women who are financially well compensated can sacrifice their personal life to some extent. On the other hand, it can be categorically stated that WLB among working women is imperative with the growing need for women to work. Hence, organizations must pay more attention to WLB issues and formulate new and favorable policies, especially for working women, so as to improve their living conditions in both their professional and their personal life. (Khan, 2022)

References

Esther. (2022, 06 21). frontiersin. Retrieved 04 27, 2023, from https://www.frontiersin.org/articles/10.3389/fpsyg.2022.906876/full

Khan, S. (2022). MDPI. Retrieved 04 25, 2023, from Administrative Sciences: file:///C:/Users/asus/Downloads/admsci-13-00007%20(1).pdf

mbaskool. (2023). Retrieved 04 23, 2023, from mbaskool: https://www.mbaskool.com/business-concepts/human-resources-hr-terms/7045-work-life-balance.html

Sangarandeniya, V. (2015, 04). pdfs.semanticscholar. Retrieved 04 06, 2023, from pdfs.semanticscholar: https://pdfs.semanticscholar.org/32ad/8be650ba80a931fcfdcfaf186ab46cffd010.pdf