Factors influencing employee satisfaction and how to retain existing employees after the bank's downsizing.

Abstract

The purpose of this research is to understand the key factors that influence employee satisfaction after the bank’s downsizing so that the bank can take the right action to keep valuable employees to work longer. The factors were identified by reviewing the theory of Maslow’s Hierarchy of Needs and collecting the information from the past researches. The qualitative research methodology has been used by in-depth interview with 4 employees, who have different ages, teams and working years. The results revealed the correlation between factors from literature review and information from the interview that the bank should prioritize and take action to 3 factors driving employee satisfaction and decision to work longer after downsizing, which are compensation, work relationship, and work itself. The recommendations for existing employee management have been provided based on the insight found from in-depth interview with the employees. Although the research is originally from the real case of ABC bank that the writer is working for, the writer believes that this case could happen in some other companies and really hopes that this paper can be applied for the benefit of human resources management after downsizing in many business industries.