The Impact of Corporate Social Responsibility on Employee Satisfaction in an Insurance Industry in Trincomalee District

Abstract

The current research is intended to identify the impact of Corporate Social Responsibility on Employee satisfaction in an insurance industry in Trincomalee district. The concept of Corporate Social Responsibility (CSR) has gained much attention in recent years. It provides companies with a significant approach for achieving employee satisfaction and considered a source for enhancing competitive advantage. Data was collected using a research method, questionnaire survey. This research found that, the majority insurance Industries consider their CSR to society and CSR to their working environment undertaking various measures to conserve resources as well as satisfied their employees within the organization. Insurance Industries provided little support to most internal CSR practices identified in this study. The conceptualization of the study demonstrated independent variables (Corporate Social Responsibility) of Economic responsibility, Ethical responsibility, Legal responsibility and Philanthropic responsibility how to effect on dependent variable of employees satisfaction in an insurance Industries. A quantitative analysis was conducted with 100 of sample. The data was collected though distributing questionnaire among respondent. Further, univariate analysis and bivariate analysis were carried out through SPSS (21.0). The findings revealed that corporate social responsibility and satisfaction is in high level and corporate social responsibility moderately and positively influence on satisfaction. Furthermore, study found that there was positive and significant relationship between corporate social responsibility and employee satisfaction in an Insurance Industry in Trincomalee district. The recommendations were provided, in order to further improvement in highest returns to their stakeholders, comply with all state laws and regulations, be compromise ethical norms of the society to achieve corporate goals, Strive to provide community betterment. This study will be more beneficial both existing insurance industries and newly joint who will be doing the business in insurance industry in Sri Lanka.