Citation:

Omosigho, A. A., Egbuta, O. U., Bamidele, A. G. "Deep-Level Workforce Diversity and Employee Satisfaction in Selected Deposit Money Banks in Lagos State, Nigeria" International Research Journal of Economics and Management Studies, Vol. 3, No. 3, pp. 133-142, 2024.

Abstract:

Deposit money banks play a vital role in the financial sector by mobilizing funds from savers and directing them towards profitable investments, thereby fostering economic development. Acknowledging the importance of employee satisfaction in bolstering organizational efficacy and customer service, efforts have been made to enhance it within the banking sector. Nonetheless, despite these efforts, there has been a discernible decrease in employee satisfaction. Consequently, it is crucial to analyze the impact of deep-level workforce diversity on employee satisfaction within specific deposit money banks in Nigeria. The study adopted a survey research design. The population consisted of 4,871 employees of five selected deposit money banks in Lagos State, Nigeria. A sample size of 464 was determined using the research advisor’s sample size table. A structured and validated questionnaire was used for data collection. The Cronbach’s alpha reliability coefficients of constructs ranged from 0.70 to 0.94. A response rate of 78.9% was recorded. Data were analyzed using descriptive and inferential (multiple linear regression) statistics. The findings revealed that deep-level workforce diversity had a significant effect on employee satisfaction in selected deposit money banks in Lagos, Nigeria (Adj. R 2 = 0.262; F (4,361) = 33.465, p < 0.05). The study concluded that deep-level workforce diversity enhanced employee satisfaction in selected deposit money banks in Lagos, Nigeria. The study recommended that management should actively promote and embrace deep-level workforce diversity to enhance employee satisfaction among deposit money banks in Nigeria, fostering a diverse and inclusive workplace to improve overall employee performance.

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Keywords:

Deep-level workforce diversity, Employee Satisfaction, Employee value, Employee belief, Employee work quality.