Pay Satisfaction, Job Satisfaction, Organizational Commitment and Turnover Intention in Taiwan Banking: Structural Equation Modeling

LIST OF TABLES LIST OF FIGURES CHAPTER I: INTRODUCTION TO THE STUDY Introduction and Background to the Problem Purpose Definition of Terms Justification Delimitations and Scope CHAPTER 11: REVIEW OF THE LITERATURE, THEORETICAL FRAMEWORK, RESEARCH QUESTIONS, AND HYPOTHESES Review of the Literature Turnover Intention Pay Satisfaction Job Satisfaction Organizational Commitment Pay Satisfaction and Job Satisfaction Pay Satisfaction and Organizational Commitment Job Satisfaction and Organizational Commitment summary Theoretical Framework Research Questions Hypotheses xii TABLE OF CONTENTS (Continued) Page CHAPTER 111: RESEARCH METHODOLOGY 49 Research Design Population and Sampling Plan Target Population Accessible Population Multistage Sampling Plan Instrumentation Sociodemographic Profile Job Satisfaction Survey (JSS) Three-Component Model (TCM) Employee Commitment Survey Turnover Questionnaire Procedures: Ethical Considerations and Data Collection Methods Methods of Data Analysis Evaluation of Research Methods CHAPTER IV: RESULTS 76 Research Question 1 Research Question 2 Descriptive Analysis of Job Satisfaction Survey (JSS) Descriptive Analysis of Three-Component Model (TCM) Employee Commitment Survey Descriptive Analysis of Turnover Questionnaire Research Question 3 Hypotheses 1,2,3,4,4a, 4b, 5, 5a, 5b, 6,6a, and 6b Confirmatory Factor Analysis (CFA) of Job Satisfaction Reliability and Validity of Job Satisfaction Survey (JSS) Confirmatory Factor Analysis (CFA) of Organizational Commitment Reliability and Validity of Three-Component Model (TCM) Employee Commitment Survey Confirmatory Factor Analysis (CFA) of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention Model Reliability and Validity of Pay Dimension of Job Satisfaction Survey and Turnover Questionnaire TABLE OF CONTENTS (Continued) Page Results of Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention Hypotheses 2a, 2b, 2c, 2d, 2e, 2f, 2g, and 2h Confirmatory Factor Analysis (CFA) of Job Satisfaction Sub-variables and Turnover Intention Model Result of Job Satisfaction Sub-variables and Turnover Intention Model Hypotheses 3a, 3b, and 3c Confirmatory Factor Analysis (CFA) of Organizational Commitment Sub-variables and Turnover Intention Model Result of Organizational Commitment Sub-variables and Turnover Intention Model CHAPTER V: DISCUSSION Interpretations Sociodemographic Characteristics of Entry-Level and Mid-Management Employees in the Taiwanese Banking Industry The Degrees of Pay Satisfaction, Job Satisfaction, Organizational Commitment and Turnover Intention of Entry-Level and Mid-Management Employees in the Taiwanese Banking Industry High Turnover Group Would Change Turnover Intention If Monthly Salary Increased Hypotheses Testing Practical Implications Conclusions Limitations Recommendations for Future Study REFERENCES BIBLIOGRAPHY TABLE OF CONTENTS (Continued) Page f APPENDIXES Appendix A: IRE3 Approval Appendix B: Authorization for Voluntary Consent (English Version) Appendix C: Authorization for Voluntary Consent (Chinese Version) Appendix D: Certification of Chinese Translation (Authorization for Voluntary Consent) Appendix E: Survey Instrument (English Version) Appendix F: Survey Instrument (Chinese Version) Appendix G: Certification of Chinese Translation (Survey Instrument) Appendix H: Permission to Use Job Satisfaction Survey (JSS) Appendix I: Purchase Certificate of Three-Component Model (TCM) Employee Commitment Survey Appendix J: Permission to Use Three-Component Model (TCM) Employee Commitment Survey Appendix K: Permission to Use Turnover Questionnaire VITA LIST OF TABLES Number Page Distribution of Private Bank Branches in Taiwan Items of Sociodemographic Profile Questionnaire Items of the Modified Job Satisfaction Survey Items of the Modified TCM Employee Commitment Survey Items of Modified Turnover Questionnaire (Part A) Items of Turnover Questionnaire (Part B) Sociodemographic Characteristics of the Sample Frequency and Percentage of Working Years Descriptive Analysis of Job Satisfaction Survey (JSS) Items (N = 355) Descriptive Analysis of Three-Component Model (TCM) Employee Commitment Survey Items (N = 355) Descriptive Analysis of Turnover Questionnaire Items (N = 355) Frequency and Percentage of Desire for Extra Money Goodness-of-Fit Results of First-Order 32-Indicators CFA Model of Job Satisfaction Goodness-of-Fit Results of modified First-Order 22-Indicators CFA Model of Job Satisfaction Goodness-of-Fit Results of Second-Order 22-Indicators CFA Model of Job Satisfaction Goodness-of-Fit Results of Modified Second-Order 20-Indicators CFA Model of Job Satisfaction Reliability and Validity Index of the Job Satisfaction Survey (JSS) (N = 355) LIST OF TABLES (Continued) Number 4-12 Page 102 Goodness-of-Fit Results of First-Order 18-Indicators CFA Model of Organizational Commitment Goodness-of-Fit Results of Modified First-Order 9-Indicators CFA Model of Organizational Commitment Goodness-of-Fit Results of Modified Second-Order 9-Indicators CFA Model of Organizational Commitment Reliability and Validity Index of the Three-Component Model (TCM) Employee Commitment Survey (N = 355) Goodness-of-Fit Results of CFA Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention Goodness-of-Fit Results of Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention Reliability and Validity Index of Pay Dimension of Job Satisfaction Survey and Turnover Questionnaire (N = 355) Regression Weights of Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention Goodness-of-Fit Results of CFA Model of Job Satisfaction Sub-variables and Turnover Intention Regression Weights of Model of Job Satisfaction Sub-variables and Turnover Intention Goodness-of-Fit Results of CFA Model of Organizational Commitment Sub-variables and Turnover Intention Regression Weights of Model of Organizational Commitment Sub-variables and Turnover Intention Pay Raise and Turnover Recovery Rates Research Purposes, Hypotheses, and Results LIST OF FIGURES Number 2-1 Theoretical Framework 2-2 Hypothesized Pay satisfaction, Job satisfaction, Organizational Commitment, and Turnover Intention Model 2-3 Hypothesized Job Satisfaction Sub-variables and Turnover Intention Model. 2-4 Hypothesized Organizational Commitment Sub-variables and Turnover Intention Model. 41 Hypothesized First-Order 32-Indicators CFA Model of Job Satisfaction 4-2 Modified First-Order 22-Indicators CFA Model of Job Satisfaction 4-3 Second-Order 22-Indicators CFA Model of Job Satisfaction 4-4 Modified Second-Order 20-Indicators CFA Model of Job Satisfaction 4-5 Hypothesized First-Order 18-Indicators CFA Model of Organizational Commitment 4-6 Modified First-Order 9-Indicators CFA Model of Organizational Commitment 4-7 Modified Second-Order 9-Indicators CFA Model of Organizational Commitment 4-8 Hypothesized CFA Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention 4-9 Model of Pay Satisfaction, Job Satisfaction, Organizational Commitment, and Turnover Intention 4-10 Hypothesized CFA Model of Job Satisfaction Sub-variables and Turnover Intention 4-1 1 Job Satisfaction Sub-variables and Turnover Intention Model 4-12 Hypothesized CFA Model of Organizational Commitment Sub-variables and Turnover Intention Page 42 44 Number LIST OF FIGURES (Continued) Page 4-13 Organizational Commitment Sub-variables and Turnover Intention 125 Model 5-1 Relationship between Monthly Salary and Desire for Extra Money 131 CHAPTER