An Empirical Investigation into the Relationship between HRM Practices, Levels of Satisfaction and Length of Service for Employees of Organisations Operating in the International Financial Services Centre

Abstract

This is an exploratory study into the relationship between human resource practices (HRM) practices, levels of job satisfaction and length of service for employees of organisations operating in the mutual fund sector with the International Financial Services Sector. Successful organisations will be those that are able to attract and retain highly skilled employees. Modem human resource strategies state that through an integrated and consistent set of policies, employee flexibility, cooperation, productivity and commitment will arise. Questionnaires were distributed to fund accountant employees of organisations operating in the mutual funds sector to assess levels of job satisfaction. In addition interviews were conducted with HR managers to gain an in-depth understanding of the HR policies carried out in the organisations. Results were analysed to assess the impact of length of service and HR practices on the levels of employee satisfaction. It was found that levels of job satisfaction was lower than average in three of the four respondent organisations, each with similar HRM practices. Levels of job satisfaction were significantly higher in the fourth organisation, which employed slightly different HRM practices. No significant correlation was found between length of service and level of job satisfaction.