Impact of Democratic Leadership Styles on the Employee Well-being of Top Mobile Financial Services Companies in Bangladesh
Rahman, Md Atiar (2024)
2024
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The mobile financial services (MFS) industry in Bangladesh opened up fast and is highly competitive in terms of employee welfare problems. This study aimed to establish the extent to which the leadership styles particularly democratic leadership had on employee well-being in the leading MFS organizations in Bangladesh like bKash, Nagad, and Rocket. To provide answers to those questions the nature, frequency and perceived effectiveness of democratic leadership practices as well as their correlation with the degree of employee satisfaction and the problems encountered in implementing democratic leadership practices have been investigated.
Quantitative research was used with structured questionnaires completed by 100 employees from MFS organizations. The data was gathered through online questionnaires and descriptive and inferential analytical methods including correlation analysis, multiple regressions, and Analysis of variance (ANOVA) where it can be applied.
A review of the study exposed partial commitment to democratic leadership, which showed that organizations like bKash were more committed than others. About half the population of employees stated job satisfaction, but work-life balance and mental health status indices were moderate. Some of the major challenges that were noted are issues to do with language when dealing with the people of the other country, lack of opportunities for professional development, and the issue of cultural deprivation of the subordinate employees.
The study thus established that democratic leadership promotes employee well-being, but the approach will only work by containing structural and cultural conflicts. Proposed measures include increasing transparency, covering all the aspects of the feedback system, increasing recognition, and empowering practical usage of democratic leadership concepts with the help of current technological developments.
Quantitative research was used with structured questionnaires completed by 100 employees from MFS organizations. The data was gathered through online questionnaires and descriptive and inferential analytical methods including correlation analysis, multiple regressions, and Analysis of variance (ANOVA) where it can be applied.
A review of the study exposed partial commitment to democratic leadership, which showed that organizations like bKash were more committed than others. About half the population of employees stated job satisfaction, but work-life balance and mental health status indices were moderate. Some of the major challenges that were noted are issues to do with language when dealing with the people of the other country, lack of opportunities for professional development, and the issue of cultural deprivation of the subordinate employees.
The study thus established that democratic leadership promotes employee well-being, but the approach will only work by containing structural and cultural conflicts. Proposed measures include increasing transparency, covering all the aspects of the feedback system, increasing recognition, and empowering practical usage of democratic leadership concepts with the help of current technological developments.