Reward and Job Satisfaction: A Moderating Effect of Merger at Bank Syariah Indonesia

Abstract

The merger of three Islamic banks into Bank Syariah Indonesia (BSI) on February 1, 2021, created the largest Islamic banking entity in Indonesia but simultaneously brought challenges in integrating work culture and operational systems that impacted employee psychology. This study aims to analyze the influence of rewards on job satisfaction with the merger process as an intervening variable. Using a quantitative method, data was collected from 36 respondents at BSI KCP Kendari MT. Haryono, determined via the Krejcie and Morgan table. Data analysis was performed using Structural Equation Modeling (SEM) based on Partial Least Square (PLS) using SmartPLS 4. Outer model evaluation results showed all indicators were valid and reliable. Inner model analysis revealed that rewards have a positive and significant effect on job satisfaction. Furthermore, the merger proved to be a significant intervening variable in bridging this relationship. These findings emphasize that successful organizational integration following major changes depends heavily on the fairness of the reward system and the effectiveness of management communication in mitigating uncertainty.