Determinants of Green Banking Initiatives on Employees’ Work Satisfaction in Sri Lanka

Abstract

Today, organizations are more concerning to protect the environment in their routine activities. Among the aforesaid organizations “Banks” are showing a massive trend in implementing green initiatives. The ultimate success of the implementation of green banking initiatives is depended on the delivery users or employees of the banks. Although green banking initiatives increased positively, it can be identified that the employee retention ratio has been decreased considerably. If employees are not satisfied with their work-life, it may cause retention intentions, increasing costs, decreasing profits, and customer unhappiness towards the organization. The objective of this research is to identify the determinants of green banking initiatives on employees’ work satisfaction. This study has been designed based on the independent variables of work stress, work efficiency, risk of the transactions, monetary benefits, practices of Human Resource (HR), and reputation of the company against the dependent variable of employees’ work satisfaction on green banking initiatives. The questionnaire method is used for data collection with considering private sector commercial banks in Sri Lanka. The sample size was 251 employees. A quantitative study was carried out, and data were collected through a pre-formatted questionnaire with simple random sampling technique. The analysis was conducted using descriptive analysis and inferential analysis with SPSS software. Work stress, work efficiency, the reputation of the company have a positive significant relationship with the employees’ work satisfaction with green banking initiatives based on the results of the statistical analysis. Green banking initiatives are positively affected the employees’ satisfaction with the aspects of work stress, work efficiency and the reputation of the company. The employees’ stress and the work efficiency can be addressed with making the banking culture by using green banking initiatives specifically with high technology. The risks of the transactions, monetary benefits, and practices of Human Resources with green banking initiatives are negatively affected employees’ work satisfaction. Most of the banks in Sri Lanka are at the initial stage of the green banking implementations and a low level of customer awareness may be the reason for getting negative relationship for those variables.