ISSN 2736-1721
Global Journal of Business Management ISSN 6731-4538 Vol. 4 (3), pp. 001-009, March, 2010. © International Scholars Journals
Review
The relationship between bank distress, job satisfaction, perceived stress and psychological well-being of employees and depositors in Nigeria’s banking sector
Michael O. Samuel1*, Helen O. Osinowo2 and Crispen Chipunza3
1Department of Industrial Psychology, Faculty of Management and Commerce University of Fort Hare, P. Bag X1314, Alice, 5700, South Africa.
2Department of Psychology, Faculty of the Social Sciences University of Ibadan, Ibadan, Nigeria.
3Department of Industrial Psychology, Faculty of Management and Commerce, University of Fort Hare, Alice, South Africa
Accepted 12 January, 2010
Abstract
The main objective of the study was to assess the impact of financial distress in the Nigerian banking industry as it affected job satisfaction, perceived stress and psychological well-being of employees and depositors. The research adopted case study as a strategy and employed independent groups design in order to get a balanced assessment of the subject. Variables of interest were not manipulated in order to allow for accuracy of judgment and results. Self administered questionnaire - perceived stress scale by Blaus (1965); psychological well-being scale by Goldberg (1978); job satisfaction scale by Ugwuegbu (1985) and a self-developed questionnaire by the researchers to solicit information from bank employees and depositors - was administered to 105 respondents comprising of 61 bank employees and 44 bank customers. The questionnaire had a Cronbach alpha coefficient of α = 0.88 thus confirming the reliability of the data collecting instrument. A total of 5 hypotheses were formulated and tested. The results showed that employees in healthy banks were more satisfied with their jobs than those in distressed banks; but the difference between their mean scores did not reach a significant level thus suggesting that employees in distressed banks equally enjoyed their jobs like their colleagues in healthy banks. Curiously, depositors in healthy banks experienced higher level of stress than depositors in distressed banks; while employees in healthy banks experienced higher job satisfaction than those in distressed banks. Finally, the results also showed that employees in distressed banks did not experience higher stress level than those in healthy banks.
Key words: bank employees; bank depositors; bank distress; job satisfaction; perceived stress; psychological well-being