Factors Influencing Employee Satisfaction in Workplace: A Study Conducted in the Sonali Life Insurance Company Limited

Employee satisfaction is crucial for the success of every business organization. This study is aimed at determining the affecting factors of employee satisfaction through systematic literature review. Data were gathered from both primary and secondary sources. Related literature has been reviewed from the secondary sources. Primary data have been collected from 175 employees randomly selected from Sonali Life Insurance Company Limited located in Dhaka Division through questionnaire. The questionnaire was formulated in light of selected 13 determinants found through literature review. This study found that employees consider fair compensation, benefit package, promotion opportunities, working hours, and interpersonal relationships as major factors of their satisfaction. In contrast, selected employees rate stress levels, flexible work conditions, and physical work environment as less important factors for job satisfaction. In this globalization and competitive era, key employee retention is considered as an important asset for insurance business. So, Sonali Life Insurance Company Limited or SLI should better know the factors of employee satisfaction and formulate and implement policies related to employee satisfaction. Thus, if SLI can retain satisfied key employees, then satisfied employees can be expected to bring success to the insurance business.