Influencing Factors of Employee Engagement on Financial Wellbeing: Special Reference to Bank of Ceylon, Matara District, Sri Lanka

Abstract

This study "Influencing Factors of Employee Engagement on Financial Wellbeing: Special Reference to Bank of Ceylon, Matara District, Sri Lanka" mainly address the impact of employee engagement on financial wellbeing based on the banking industry in Sri Lanka. Sri Lanka’s banking industry plays a crucial role towards the entire economy as it is contributing to about 60% of GDP and among the employed population 40% belongs to this particular industry. Hence, researcher prioritizes to determine the relationship of employee engagement and financial wellbeing and the relationship between influencing factors of employee engagement and financial wellbeing of Bank of Ceylon Matara District. One of the Sri Lankan governments owned systematically important bank was selected through purposive sampling. Structured questionnaire is the primary data collection method and questionnaire was distributed through 350 banking employees who work for Bank of Ceylon in Matara district as respondents. Statistical software naming SPSS used to analyze the data. In the case of data analysis, descriptive statistical analysis, correlation analysis and multiple regression analysis has used as the data analysis techniques to measure variables in different perspectives. Organizational support, Job stress, Information technology in the organization, Family and social support, Individual issues and organizational society are occupied to measure the employee engagement. When summarizing Regression analysis' results, Organizational Society and Job Stress have a positive significant impact on Financial Wellbeing and Individual Issues has negative significant impact on Financial Wellbeing. On the other hand, Organizational Support, Family Support, and ICT have no significant impact on Financial Wellbeing of workers who are working for BOC in Matara district.