Organizational Culture and Job Satisfaction of Greek Banking Institutions

The purpose of this study is to investigate the relation between organizational culture and job satisfaction. In particular, the research hypothesis is that the type of organization culture in a specific institution is able to predict the levels of job satisfaction among employees. For the measurement of job satisfaction in the present study, the Employee Satisfaction Inventory - ESI (Koustelios, 1991, Koustelios and Bagiatis, 1997) was used. The inventory was created using Greek employees as a sample. It included 24 items, which measure six dimensions of job satisfaction. The assessment of organizational culture was performed with the Organizational Culture Assessment Instrument (OCAI) developed by Cameron and Quinn (2006). It included six questions (Dominant Characteristics, Organizational Leadership, Management of Employees, Organizational Glue, Strategic Emphases, Criteria of Success). Each question had four alternatives (A=Clan, B=Adhocracy, C=Market, D=Hierarchy). According to the results, there is a significant difference between all aspects of current and preferred organizational culture types among employees of Greek banking institutions. The majority of employees would prefer to work in a more friendly environment, where mutual trust and informal relationships among colleagues are dominant, personal ambitions are taken into consideration and teamwork is rewarded. Moreover, the present study showed that organizational culture can partially predict the levels of employees’ job satisfaction. In particular, the adhocracy and the market type are more likely to make employees dissatisfied with their salary, while the opposite happens with the hierarchy type. Nevertheless, further investigation is needed, so that Greek bank employees’ job satisfaction is being well studied and promoted.