Impact of Employee Engagement on Overall Organizational Performance: A Study on the Banking Industry in Bangladesh

Abstract

Employee engagement is a pivotal factor influencing organizational performance in the banking sector of Bangladesh. This report investigates the relationship between employee engagement and organizational success, aiming to enhance effectiveness and competitiveness in the industry. The study's objectives include analyzing current levels of employee engagement across selected Bangladeshi banks, assessing its impact on key performance indicators, identifying influencing factors like culture and leadership, exploring organizational initiatives fostering engagement, and analyzing outcomes such as turnover and job satisfaction. Methodologically, qualitative research is employed, utilizing semi-structured interviews, on-site observations, and internal document reviews for primary data, supplemented by secondary data from academic literature and industry reports. Thematic analysis is applied to identify patterns related to employee engagement and performance. Key findings emphasize the critical role of leadership, communication, career development, and organizational culture in fostering engagement. Insights from BRAC Bank, Standard Chartered Bank, and Dutch Bangla Bank Limited highlight tailored strategies to enhance employee engagement, reduce turnover, and drive organizational success. Recommendations include promoting work-life balance, investing in technology-enabled communication platforms, offering comprehensive training programs, maintaining transparent communication channels, implementing recognition and reward systems, and fostering a positive work environment. These strategies are designed to attract and retain talent, ensure regulatory compliance, drive innovation, manage risks effectively, and uphold strong brand reputation in Bangladesh's competitive banking landscape. This study contributes both academically and practically by offering insights into effective HR strategies that can enhance employee engagement and organizational performance in the dynamic banking sector of Bangladesh.