Research Symposium-2010

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A Comparative Study on the Impact of Reward System on Job satisfaction in the Public and Private Banks in Vavuniya District
(Uva Wellassa University of Sri Lanka, 2010) Kandasamy, k.; Siyambalapitiya, J.
The Vavuniya District population has been rapidly increased after the civil crisis in north and east of Sri Lanka and one of the industries that develops and widely spreads simultaneously is the banking sector. Among the activities escalating very fast can be specified as mobile banking activities, banking operation, deposit rates and loan facilities are. Due to increase of operations, the employee work load also increased day by day. The government banks and private banks are giving special rewards to satisfy their employees to get maximum productivity. However, public and private banks offer different types of rewards to satisfy their employees. Literature reveals that most of the reward systems are based on the assumptions of attracting, retaining and motivating people. Primary data were collected from a randomly selected sample of 32 private bank assistants and 28 public bank assistants using a structured questionnaire through direct interviews. The Data were analyzed using both descriptive and inferential statistics to identify the relationship between reward systems and job satisfaction. The study concludes that there is a strong positive relationship between reward systems and employee job satisfaction in both public and private banks. However, the results elicits that the relationship of rewards to private bank employees with job satisfaction is higher when compared to the relationship of the rewards and job satisfaction of the public banks. Key words: Rewards system, Job satisfaction
Effectiveness of Promotional Methods for Recently Introduced Savings Accounts with Special Reference to Commercial Banks in Badulla Urban Area
(Uva Wellassa University of Sri Lanka, 2010) Abeygunawardene, S.H.D.K.; Fernando, P.I.N.
Modern business environment is highly dynamic and competitive. Service sector organizations are considered as one of the highly competitive sectors within the economy. To face this competition, commercial banks introduce savings accounts ceaselessly. Even though banks spend millions on promotional/advertising activities, the number of customers attracted to these accounts is in comparatively at a lower level. This research focused on identifying the most effective promotional method for recently introduced savings accounts in commercial banks which operated their branches in Badulla urban area. Both primary and secondary data were used for data collection. One hundred respondents were selected as the sample using stratified sampling method from seven commercial banks to measure the effectiveness of eight promotional methods used by banks. The study reveals that there is a positive relationship between promotional/advertising cost and attractiveness of customers for recently introduced savings accounts (0.507). The P-Value of 0.245 shows that banks are unable to attract considerable number of customers according to the cost of promotional/advertising activities for recently introduced savings accounts. According to the study, the most effective promotional methods are word of mouth marketing and personal selling. The other six promotional methods have less effectiveness and radio advertisements have no effectiveness in attracting customers for recently introduced savings accounts. The study recommends that the banks in Badulla urban area must spend heavily on the most effective promotional methods, word of mouth marketing and personal selling to attract more potential customers. To practice most effective promotional methods, banks must consider on enhancing the service given by bank officers to delight the customers. The banks can use training and development programs regarding customer relationship management and other motivational methods such as salary increments and job security to bank officers in order to make them satisfied. Key words: Savings accounts, Promotional cost, Promotional methods
Empirical Study of Employee Rewards System and Its impact on Behavioral Outcomes of Empoloyees with Special Reference to Private Commercial Banks in Badulla Urban Area
(Uva Wellassa University of Sri Lanka, 2010) Fasana, S.F.; Sutha, R.J.
Employees play a fundamental role in establishing and sustaining a firm's success. They need considerable attention from the organization's management. Reward system is a big tool for organization to motivate employees. In this context, this study try to identify the relationship exists between the reward system and behavioral outcomes of employees in terms of employee performance and job commitment. The population used for this study consisted of six banks from Badulla urban area. Using stratified random sampling technique, 63 employees were selected. Both descriptive and inferential statistical techniques were used. With respect to the inferential techniques, Pearson's product movement correlation, regression analysis, analysis of variance were done by using Minitab and SPSS statistical software packages to indicate relationships and differences in the reward and behavioral outcome of employees. Ultimate results conclude that there is a strong positive relationship between rewards and behavioral outcomes. Reward system was measured in terms of intrinsic and extrinsic rewards. Intrinsic reward is highly correlated with employees' behavior than extrinsic reward. The regression analysis between rewards and behavioral outcomes results the adjusted Co efficient of determination (R2) as 0.853 and model is explained 85.3% variation in behavioral outcomes. Key words: Reward system, Intrinsic Reward, Extrinsic Reward, Behavioural outcomes, Employee performance, Job commitment
An Empirical Study on the effect of Product Innovations on Organizational Performances In the Banking Sector of Sri Lanka
(Uva Wellassa University of Sri Lanka, 2010) Dissanayake, M.M.R.K.; Jayawardhana, A.A.K.K.
Innovation plays a pivotal role in guiding any industry towards dynamism The study empirically identifies the effect of banks' product innovations on the banking sector performance. Further, the study identifies two main types of product innovations in banks as Liability Product Innovations (LPIs) and Asset Product Innovations (APIs). The study explores the organizational performance with respect to Deposit Base (DB) and Loans and Advances Base (LAB). The sample was derived based on the Brands Annual 2009 and ten most valuable banking brands were taken for the study. Product innovations carried out by banks are identified through a structured questionnaire while DB and LAB are obtained from the annual reports of the banks within the period from year 2005 to year 2008. Both descriptive and inferential methods were used in analyzing the data in optimizing the objectives of the study. The results show that LPIs and APIs have a strong positive effect on the DB and LAB respectively. Overall findings indicate that innovation is significantly and positively affect superior performance of the banking sector. Thus, the study concluded that it is worthwhile to increase the rate of innovations as a mode of reaching superior business performances in the banking sector. Keywords: Innovations, Organizational Performances, Banking Sector
Gender Variation and Job Satisfaction With Special Reference to the Commercial Banks
(Uva Wellassa University of Sri Lanka, 2010) Rajapaksha, R.M.D.; Weerakoon, W.M.P.G.C.
This research study mainly investigated the relationship between gender variation and job satisfaction among banking employees in Colombo district of Sri Lanka. Moreover, the study expected to identify whether there is a difference between Gender Variation and Job Satisfaction of private and public banking employees. A random sample of one hundred-twenty employees was examined through a structured questionnaire. Data analysis was mainly based on the Non parametric test of Mann-Whitney. Apart from that Radar Graphs were also developed to depict the results of the study. The results indicate that there is a significant difference between level of satisfaction of male employees and female employees. Moreover, it was found that the level of job satisfaction of male employee is greater than the female employees regardless of the sector. Furthermore, it was identified that the level of job satisfaction of male employees in the private banking sector is greater than that of female employees in the private banking sector whereas the level of job satisfaction of female in the public banking sector is higher than that of male employees in the public banking employees. Key words: Job Satisfaction, Male Employees, Female Employees, Private banks public banks
Impact of Banking Convenient Facilities on Customer Satisfaction: The Case of Commercial Banks in Uva Province
(Uva Wellassa University of Sri Lanka, 2010) Gunathilka, W.M.T.P.; Kulathunga, K.M.M.C.B.
In present context, it is difficult to discuss economic system without considering banking operations since banking system of any country is directly linked with economic activities. Currently bankers are comprehensively using marketing strategies and marketing information system to promote their savings. Among several marketing strategies, customer convenient facilities has become one of the most important strategies implemented by banks to deliver high customer satisfaction to their customers. As a result, customer convenient facilities is considered as an essential tool for them as they have been able to uplift their number of savings account holders through this tool. The aim of this study was to identify the existing situation of customer convenient facilities with customer satisfaction and identify the most effective type of customer convenient facility towards customer satisfaction. Sample of 300 savings account holders were selected from 15 commercial bank branches from Uva province using systematic sampling method. Key findings of research indicate that there is a positive relationship between customer convenient facilities provided by commercial banks towards customer satisfaction. When considered the dimensions of customer convenient facilities and customer satisfaction, findings reveal that savings account holders are almost satisfied with the existing situation of transaction convenience, benefit convenience, decision convenience, customer expectation, individual factors and reliability while savings account holders are moderately satisfied with existing situation of access convenience and service quality. Also it recognized that customers are almost agreed with the existing situation of overall customer convenient facilities provided by commercial banks in the Uva province. Moreover, the study identified that the dimension decision convenience as the most effective type of convenient facility provided by banks towards customer satisfaction. Key words: Customer convenient facilities, Customer satisfaction
The Impact of Corporate Social Responsibility on Profitability of Banking Sector in Sri Lanka
(Uva Wellassa University of Sri Lanka, 2010) Wijetunge, W.A.D.S.; Nanayakkara, K.G.M.
The concept of Corporate Social Responsibility (CSR) has gradually become a leading issue in business sector today. Most of the private companies, specially the banks in private sector take a variety of initiatives all aimed at making sense of CSR. It signals that they have realized their responsibility towards the society. They are trying to achieve sustainable development through practicing this concept. Past studies conducted in various sectors in different countries also favored the hypothesis that there is a positive relationship between CSR and profitability. This study was an attempt to examine this in banking sector in Sri Lanka. The primary objective was to identify the impact of Corporate Social Responsibility on Profitability in Banking Sector, identifying them as the financial intermediaries who interact more with the general public. Banks have become an important component in service sector contributing 40% to the work force as well as 9% to the GDP (Commercial Bank Annual Report, 2009). Secondary objective was to examine whether the impact is significant or not. Data were collected from listed banks in the Colombo Stock Exchange (CSE). The analysis was based on non-parametric tests such as Chi-Square test, Correlation Coefficient and Coefficient of determination (R2) and simple statistical methods like percentages, tables and graphs. Data analysis revealed that there is a positive relationship of CSR on bank's profitability. It is further revealed that the impact is not significant. Key words: Corporate Social Responsibility, Profitability, Banking sector, Sustainable development, Colombo Stock Exchange, Gross Domestic Production
The Impact of Information System towards the Financial Performance of Government Banking Sector (With reference to Uva Development Bank)
(Uva Wellassa University of Sri Lanka, 2010) Herath, H.M.J.D.B.; Rohan, D.N.N.
The primary purpose of this research was to identify the impact of information strategy in banking sector with reference to Uva development bank. The study aimed at testing a model to examine the effect of Information Strategy (IS) to the Financial Performance (FP) in the Uva Development Banks by using 10 branches. The study presents an analytical discussion and empirical *evidence of the relationship between information technology investment and FP. Data were collected by primary and secondary sources. Empirical evidence show that IS is having indirect, strong positive relationship with FP through organizational performances (OP). Further, the study reveals that organizational performances are highly depending on information strategy practices with service leadership. The study concludes that IS does not only affect financial performances but also other organizational practices such as increase service quality and offer fast and memorable service to customers. Key Words: Information strategy, Financial Performance, Information Technology, Organizational Performances, Service Leadership, Information strategy practices
Impact of Performance Appraisal Systems on Employee Performance and Organizational Effectiveness: The Case from Rural Banking Sector in Uva Province
(Uva Wellassa University of Sri Lanka, 2010) Padmasiri, H.G.M.; Sutha, R.J.
As there is a significant importance of the rural banking sector to the Sri Lankan economy, this study was conducted with the objectives of understanding the existing performance appraisal systems and identifying the impact of performance appraisal systems on employee performance and the organizational effectiveness. Further, the study would analyze the relative contribution of performance appraisal systems to employee performance and organizational effectiveness in rural banks in Uva province. Data were collected through a structured questionnaire and using direct interviewing method from a sample consisting 120 employees who were selected using stratified sampling technique from the selected rural banks in Uva Province. Further, internal reports of the employee reward systems and publications of selected banks were used as secondary data. Both descriptive statistics and inferential statistics were used to analyze data. The findings showed that there is a moderate level of positive relationship between the performance appraisal systems and the employee performance while there is a strong positive relationship with the employee performance and the organizational effectiveness according to the "r" value consideration. The rural banking sector mostly follows the confidential report methods while ignoring other highly acceptable appraisal methods. Key words: Human Resource Development, Performance Appraisal Systems, Employee performance
Job Satisfaction and Organizational Performance(with Special Reference to Public and Private Banks in Badulla)
(Uva Wellassa University of Sri Lanka, 2010) Wijerathne, E.M.H.D.K.; Weerakoon, W.M.P.G.C.
Organizational performances reflect the degree of commitment of a business organization on its goals and the degree of efficiency in reaching their business goals. Hence the business organizations adapt every possible measures in optimizing the organizational performances. The Job satisfaction has been a quite repeated terminology the local and global business context as it is believed to be a driving force of higher business performances. The study aimed at assessing the relationship between job satisfaction and organizational performance in banking sector. Further, the study aimed at observing the differences in job satisfaction and organizational performance of between private and public sector banks in Badulla. The simple random sampling technique has been occupied within the study and 50 employees were interviewed from both private and public sector banks in Badulla. Both qualitative and quantitative methods have been used in analyzing data. The results indicated that there is a positive relationship between job satisfaction and organizational performance. Further, the results reveal that that the relationship of the private sector banks is strongly positive compared to the public sector banks in the Badulla District. Key words: Job satisfaction, Organizational performances, Banking sector
Study of Impact of Information Technology on the Effectiveness of Customer Relationship Management Systems in E-Business Perspective in Commercial Banks in Sri Lanka
(Uva Wellassa University of Sri Lanka, 2010) Punchihewa, G.P.H.A.J.; Sutha, R.J.
The primary purpose of this research was to identify the impact of information technology on the effectiveness of customer relationship management (CRM) systems from the e-business perspective in commercial banks in Sri Lanka. The study developed and tested a model to examine the impact of information technology on the effectiveness of CRM systems in commercial banks in Sri Lanka. The study presents an analytical discussion and empirical evidence of the relationship information technology investment and effectiveness of CRM systems. Data were collected from primary and secondary sources and the sample comprising 8 commercial banks was selected based on criteria of "indigenous or Sri Lankan, then employees were selected by random selection of IT and non-IT department employees. Empirical evidence showed that Information System has a strong positive relationship with effectiveness of CRM systems. Effectiveness of CRM systems is highly depending on information systems and on some external factors such as, political pressures, unqualified sponsorship of top management, lack of financial programs to promote CRM and organizational resistant to change and global operations. Key words: information System, Customer Relationship Management Systems, Information Technology
Validity of Herzberg’s Two-Factor Theory to the Banking Sector Managers in Sri Lanka
(Uva Wellassa University of Sri Lanka, 2010) Abeywardana, N.L.E.; Pushpamali, N.N.C.
Many people have studied personnel issues in the workplace, and several management theories have been formed based on these studies. One prominent theory is Frederick Herzberg's Two-Factor Theory. Two factor theory stated that there are certain factors in the workplace that cause job satisfaction, while a separate set of factors cause job dissatisfaction. Herzberg's theory has been an impetus for much debate; numerous scholars question the validity of the theory itself (Rantz et al. (1996), Ruthankoon and Ogunlaga (2001), Bassett and Jones et al. (2005)). The objective of this study is to examine the validity of Herzberg's Two-Factor theory of motivation to the banking sector managers. This study also addressed the difference of job satisfaction and dissatisfaction of private and public sector employees and male and female employees. This is a qualitative study designed to assess factors relating to job satisfaction and dissatisfaction when banking sector employees' move from their jobs. Herzberg's Two-Factor theory was used as the theoretical foundation for the research. Since this study modified an already existing theory (Herzberg's Two-Factor theory), the basic research approach is deductive reasoning. The sample size of the study was randomly selected 100 mangers from banking sector in Sri Lanka. As the research instrument a questionnaire was used and collected data were analyzed using descriptive statistics techniques. Results revealed that managers rank salary as a motivating factor even though Herzberg reveals in his study that salary as a Hygiene factor. Ranking of motivation and hygiene factors of the study is contrary to the Herzberg's Two-Ffactor theory. There is no difference in ranking of factors between private sector and public sector managers and male and female managers. Key words: Two factor theory, Hygiene factors, Motivation factors, Managers in banking sector, Job satisfaction and job dissatisfaction.

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