Perceived Job Insecurity, Job Satisfaction And Intention To Quit Among Employees Of Selected Banks In Nigeria

Abstract

This study examined the relationships between perceived job insecurity, job satisfaction and intention to quit among employees of selected banks in Nigeria. A total of two hundred and nine (n = 209) randomly selected employees of Guaranty Trust Bank, Oceanic International Bank, Zenith Bank, First Bank of Nigeria, Union Bank of Nigeria and United Bank of Africa participated in the study. They comprised of 100 (47.85%) males and 109 (52.15 %) females. Their ages ranged from 22 to 49 years with a mean of 29.11 years and SD of 6.43. The researcher adopted an Ex-post facto design and relevant information was collected using a questionnaire that measured job satisfaction, organizational commitment and intention to quit. One hypothesis was tested using multiple regression statistical analysis. The result revealed a significant joint influence of perceived job insecurity, job satisfaction, gender, age, marital status, working experience and educational qualification on intention to quit of bank employees [R2=0.27; F (6, 202)=23.64; P<. 001]. Other results showed that perceived job insecurity (β =. 30; t=-9.35; P<. 001), job satisfaction (β =-.20; t =-5.60; P<. 01), gender (β=. 05; t=1.37; p.n.s), age (β =-.13; t =-3.20; P<. 05), marital status (β=-.12; t=-3.08; P<. 05) working experience (β =. 10; t =2.43; P<. 05) and educational qualification (β =. 11; t =2.56; P<. 05) all contributed independently to intention to quit of bank employees. Conclusively, findings of this study established that perceived job insecurity and job satisfaction exert significant influences on intention to quit among bank employees. That is, higher levels of perceived job insecurity is associated with high levels of intention to quit while higher levels of job satisfaction is related to low levels of intention to quit. These findings point to the direction that organizational practitioners, training and development department of various banks and other organizational stakeholders should assess employees' levels of perceived job insecurity and job satisfaction before designing intervention strategies that will reduce employees' intention to quit.

African Journal for the Psychological Study of Social Issues Vol. 11 (1&2) 2008: pp. 204-219