Uncovering Latent Dimensions of Job Satisfaction and Work Life Balance: A Factor Analysis of Banking Employees in Himachal Pradesh

This study investigated the latent aspects of job satisfaction and work-life balance among banking employees in Himachal Pradesh, emphasizing the identification of underlying determinants and their interrelationships. The findings offer significant insights into employees' opinions of their work environment, levels of satisfaction, and capacity to balance professional and personal life. The descriptive analysis indicated that employees typically exhibit moderate to fairly high levels of job satisfaction and work-life balance. Although factors like workplace difficulties (Mean = 3.7950), sense of achievement (Mean = 3.2240), and co-worker connections (Mean = 4.1672) demonstrate favourable attitudes, characteristics such as personal time and task management exhibit just moderate satisfaction levels. This indicates that while employees exhibit a satisfactory level of satisfaction, there remains potential for enhancement in both professional and personal well-being aspects. The factor analysis results validated the existence of a robust and significant structure within the data. The research revealed three principal latent dimensions-Work-Life Balance, Job Satisfaction and Growth, and Organisational Structure and Support-that collectively account for 74.106% of the total variance. The higher KMO value (0.969) and the significant result of Bartlett’s test further confirmed the appropriateness of the data for factor analysis. Moreover, all three factors exhibited robust dependability, with Cronbach’s alpha values between 0.822 and 0.977, signifying exceptional internal consistency. The correlation analysis confirmed that these categories are positively and significantly interconnected, indicating that enhancements in organizational support, career advancement prospects, and work-life balance are likely to improve overall job satisfaction among banking personnel. The study shows that job satisfaction and work-life balance among banking workers in Himachal Pradesh are influenced by three interrelated aspects. An encouraging organizational atmosphere, prospects for professional advancement, and equitable work circumstances collectively contribute significantly to enhancing employee well-being and happiness. The findings underscore the significance of cohesive human resource strategies that simultaneously emphasize employee welfare, organizational support, and career development to promote a more productive and content workforce in the banking sector.

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