The Impact of Career Planning on Job Satisfaction: A Study of Banking Sector Employees in Sri Lanka

Abstract

Employee job satisfaction is significantly important for the management of any organization, industries and sectors as it determines the mindset and behavior of employees of a workplace. Among several factors that affect the employee job satisfaction, career planning is one of the most important human resource management practices widely used in many organizations to improve career ladder. The prime purpose of this paper is to investigate the impact of career planning on job satisfaction in Regional Development Bank for which it seeks a timely needed solution. The current study adopted a quantitative research approach. A self- administered questionnaire was used to collect data from a sample of 108 managerial level officers in Regional Development Bank. Regression and Correlation analysis was performed using SPSS version 23.0 to test the research hypothesis of the study. The results show that the link between career planning and job satisfaction varies according to the type of indicators used. Specifically, it shows that organizational factors, job related factors and personal attitude factors positively impact on job satisfaction. Findings of the study emphasized the prime importance of designing and maintain a well-established career planning within the Regional Development Bank to ensure a high level employee job satisfaction. It also aided us in furthering our understanding about how career planning affects employee job satisfaction in Regional Development Bank. Further, it is expected that the model of the current study will benefit several other private and public banks in designing their career planning.