Open AccessOrganizational and Personal Drivers of the Financial Sector: A Focus Group of Banking Officials in Pakistan
Author(s) -
Aly Raza Syed,
Khaliq Ur Rehman,
Qamar Ali,
Asher Ramish
Publication year - 2021
Publication title -
journal of accounting and finance in emerging economies
Language(s) - English
Resource type - Journals
eISSN - 2519-0318
pISSN - 2518-8488
DOI - 10.26710/jafee.v7i3.1979
Subject(s) - focus group , multinational corporation , business , marketing , originality , balance (ability) , work (physics) , financial services , coping (psychology) , customer satisfaction , public relations , retail banking , finance , qualitative research , political science , psychology , sociology , mechanical engineering , social science , neuroscience , psychiatry , engineering
Purpose: This study intends to explore the key challenges the financial sector faces today about employees’ perspectives and how these challenges eventually play a role in the employee’s work-life balance.
Design/Methodology/Approach: A Focus group was conducted with a leading multinational bank in Pakistan. Six managerial cadre employees participated in the focus group study. The focus group analysis suggests very stringent rules and regulations incorporated by SBP that bind each bank to undergo strict compliance.
Findings: The challenge of customer retention, declining interest rates, coping with the frugal economic situation of the country, meeting customer satisfaction, incorporating personal relationship management, use of ancillary support services by customers, reward and recognition to employees, dealing with information savvy knowledgeable customers, work-life balance and overall motivation of the bank employees are assumed by the participants as the key challenges that drive the banking industry of Pakistan.
Implications/Originality/Value: Senior management of the banking sector of Pakistan can learn from the problems discussed, and the possible solution proposed to the said problems. This research contributes to the body of knowledge while explaining the issues faced by the professionals working in the banking sector of Pakistan.