Determinants of Job Satisfaction and Job Turnover Intention: Empirical Evidence from Commercial Bank Workers in Ibadan

Abstract

This paper examined the determinants of job satisfaction and job turnover intention of the workers of selected banks in Ibadan. Multiple sampling methods were used to select the sample. While the purposive sampling method was employed to select 12 banks that have the highest number of branches in Ibadan, the random sampling technique was used to consider 20 respondents from each of the bank, irrespective of branch, giving a total of 240 respondents. The Herzberg’s two factor theory provided the theoretical basis
for the determinants of job satisfaction and job turnover intention. The factors predicted by the theory were estimated using the probit estimation technique. The results showed that adequacy of salary, safety in work place, possibility of promotion, and interpersonal relations among the staff were the factors that enhanced job satisfaction of the workers of the banks. However, long working hours, job insecurity and conflicts between office and family schedules reduced the job satisfaction of the bankers. On the other hand, higher
education, company policies, supervision, salary, working conditions, and job insecurity were the factors that drove turnover intention in the banks. Also, female bank workers had greater tendency of job turnover intention than male workers. Long years of service and  job satisfaction were found to reduce job turnover intention.

Keywords: Job satisfaction, Job turnover intention, Herzberg’s two factor theory, Commercial bank workers