Employee engagement, pay satisfaction, cognitive flexibility, compensation fairness, affective commitment and turnover intention: A comparative study of private …

Summary

The research paper, "Employee engagement, pay satisfaction, cognitive flexibility, compensation fairness, affective commitment and turnover intention: A comparative study of private and public sector banks in India," aimed to investigate the differences in these key organizational psychology constructs among employees in India's public and private banking sectors. The study acknowledges the changing work scenarios in the banking industry due to globalization, leading to employees performing diverse roles. Understanding factors influencing turnover intention is crucial, especially given the significant costs and potential for reduced productivity associated with employee turnover. For its methodology, the study surveyed a total of 245 bank employees. These participants were administered a comprehensive set of instruments, including the Cognitive Flexibility Scale, Gallup Questionnaire (likely for employee engagement), Turnover Intention Scale, Pay Satisfaction Questionnaire, Compensation Fairness Scale, and Affective Organizational Commitment Scale. A demographic information sheet was also used to gather personal details of the employees. The study's findings revealed notable distinctions between the two sectors. Private sector bank employees demonstrated higher levels of cognitive flexibility and a greater intention to leave their jobs (turnover intention). In contrast, public sector bank employees reported higher levels of pay satisfaction and affective commitment to their organizations. The authors interpreted these results in light of existing literature and theoretical frameworks, suggesting that different sectoral characteristics and employee expectations might contribute to these observed differences. The research emphasizes the need for organizations to align retention practices with employee needs and values to address turnover effectively.