The Impact of Employee Ownership on Job Satisfaction

ABSTRACT: The research site of this study is a successful example of a workplace run by employees in the Turkish Republic of Northern Cyprus. That is what makes it attractive area of research. Despite the numerous studies conducted on the subject of employee ownership, it is still appears to be an unexplored field. This study attempts to reveal the impact of employee ownership on job satisfaction by analyzing the expectations that employees have towards their job, and also examines the level of job satisfaction and how these expectations affect job satisfaction. In the study, 69 employees of Dome Hotel were interviewed, and the short form of the Minnesota Satisfaction Questionnaire was employed as an instrument for measuring expectations and satisfaction. Results of the study showed that overall employees are quite satisfied working in the hotel, even though their expectations are quite higher that their level of satisfaction. Employees are more satisfied with extrinsic factors, rather than intrinsic. One of the findings, which is contrary to most employee owned companies, that in this hotel employees are not given enough authority for participating in decision-making process, which results in low job satisfaction among employees. The reason for that might be hidden in the pressure that managers are experiencing due to transfer of ownership. Keywords: Employee ownership, Job expectations, Job satisfaction, Hospitality industry, North Cyprus. …………………………………………………………………………………………………………………………