Abeywardana, N.L.E.Pushpamali, N.N.C.2021-12-132021-12-1320109789550481002http://www.erepo.lib.uwu.ac.lk/bitstream/handle/123456789/7959/177-2010-Validity%20of%20Herzberg%e2%80%99s%20Two-Factor%20Theory%20to%20the%20Banking%20Sector%20Managers%20in%20Sri%20Lanka.pdf?sequence=1&isAllowed=yMany 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.enHuman Resource ManagementJob SatisfactionBusiness ManagementBankingFinancial ManagementOther