Effects of Perceived Compensation Practices on Job Satisfaction of Tourism Staff: A Study on Travel Agencies in Bangladesh

Md. Hasan Talukdar; Rubaiyat Shaimom Chowdhury; Aysha Ashraf; Mohammed Julfikar  Ali; Mohammad Rezaul Karim; Esayas Degago; Rubab  Salehin; Edina Molnar

doi:10.63332/joph.v5i11.3701

Authors

Md. Hasan Talukdar Department of Business Administration, Faculty of Business and Economics, Bangladesh University, 5/B, Beribandh Main Road, Adabar, Mohammadpur, Dhaka-1207, Bangladesh
Rubaiyat Shaimom Chowdhury Department of Business Administration, Faculty of Business and Economics, Bangladesh University, 5/B, Beribandh Main Road, Adabar, Mohammadpur, Dhaka-1207, Bangladesh
Aysha Ashraf Department of Business Administration, School of Business, Asian University of Bangladesh, Bangabandhu Road, Ashulia, Dhaka 1341, Bangladesh
Mohammed Julfikar Ali Department of Business Administration, Presidency University, House 11/A, Road 92, Gulshan 2, Dhaka 1212, Bangladesh
Mohammad Rezaul Karim Department of Business Administration, Faculty of Business, Shanto-Mariam University of Creative Technology, Sector 17, Uttara, Dhaka 1230, Bangladesh
Esayas Degago Doctoral School of Management and Business, Faculty of Economics and Business, University of Debrecen, Böszörményi street 138, Debrecen 4032, Hungary
Rubab Salehin Department of Business Administration, Feni University, Trunk Road, Feni 3900, Bangladesh
Edina Molnar Department of Psychology, Faculty of Health Sciences, University of Debrecen, Debrecen 4032, Hungary

DOI:

https://doi.org/10.63332/joph.v5i11.3701

Keywords:

Tourism, Travel Agency, Compensation Practices, Perceived Intrinsic and extrinsic compensation, Job Satisfaction

Abstract

Tourism is a significant sector of Bangladesh as it plays an essential role in the economy of Bangladesh. Different organizations are working in Bangladesh that are directly linked with the tourism sector including many travel agencies. The services of these travel agencies depend on the employees and staff working in the referred organizations, hence, job satisfaction of these employees and staff is crucial. Different variables influence the job satisfaction of employees and staff working in the tourism sector of Bangladesh and the perceived compensation practice of respective organizations is one of the factors. This study aims at finding the effects of perceived Intrinsic and Extrinsic compensation practices on job satisfaction. Pearson Correlation analysis and Regression analysis have been used in this study to explore the influence of perceived compensation practices (Intrinsic and Extrinsic) on tourism staffs job satisfaction. Two hypotheses were developed and studied, and both hypotheses were supported by analyzed results. It has been found that job satisfaction is positively correlated with both perceived intrinsic and perceived extrinsic compensation. Regression results show that besides perceived intrinsic and extrinsic compensation practices, gender and age group (More than 50 years) also influence job satisfaction significantly at a 5% level of significance. The age group (20-30), and education level (Honors) significantly affect the job satisfaction of tour agency staff at a 10% level of significance. The result shows that about 65.33% of changes in the job satisfaction of tourism employees can be predicted by perceived compensation practices. The findings of this study will contribute to the existing literature related to studied variables in tourism and it will help the tourism organizations and policy makers in formulating effective compensation policies.