Employee Satisfaction In Digital Transformation Context: The Case Of Banking Sector In Ho Chi Minh City

Abstract

The COVID-19 pandemic has accelerated the adoption of digital transformation in the banking industry. As a result, many banks have been forced to make considerable changes to their systems, programs, and technological advances, for instance, businesses will utilize modern technology and system to ensure employee’s work run smoothly. Since this change has a significant impact on the workers and their feelings. And employees can refuse these changes, which decrease their job satisfaction and then make them less productive at work. The Maslow Hierarchy of Needs provides an approach for understanding such issues in terms of fundamental human needs. This paper utilizes Maslow’s Hierarchy of Needs Theory to investigate the factors that impact satisfaction among banking employees in digital transformation context in Ho Chi Minh City, Vietnam. We review the literature about the employee satisfaction. The study applies the quantitative research approach and distributes the online questionnaire to numerous banks in Ho Chi Minh City in order to collect data. The researcher applies convenience sampling to gather 304 valid responses. The statistical program SPSS is then used for analyzing the data. The results show that all five hypotheses are accepted. The study indicates that factors such as physiology, safety, social belonging, self-esteem, and self-actualization all had an favorable impact on employee satisfaction. Additionally, a rise in these factors will lead to greater employee satisfaction. The research provides the practical implications for business and the limitations of research were also addressed.