Impact of Pay Promotion and Recognition on Job Satisfaction (A Study on Banking Sector Employees Karachi)
Keywords:Pay, Promotion, Recognition and Job Satisfaction
The major purpose of this research is to analyze the impact of extrinsic and intrinsic motivation on job satisfaction of employees working in commercial banks (Karachi). This research tries to understand how much employees are satisfied with their pay, promotion as extrinsic motivation and recognition as intrinsic motivation. Or in other words this research aims to find the significance of Pay, Promotion and recognition on Job satisfaction. The study involved using questionnaire filled by 358 employees working in various commercial banks in Karachi. Mainly the data is collected from Junior and middle level of employees belonging to different age groups. Regression analysis, Pearson correlation was used to prove the hypotheses. When the statistical tools are applied to the data we came to know that the Pay, Promotion and recognition has a positive and significant impact on job satisfaction meaning the employee consider all 3 factors important in achieving job satisfaction. However, the most significant relationship and impact is of recognition) with job. The level of pay is not more important than other variables (promotion and recognition. This research will help the banks to understand the impact of pay promotion and recognition on job satisfaction and will help them to improve their compensation strategy and keep a balance between extrinsic and intrinsic rewards.