Do perceived working conditions increase life satisfaction? Case of SME workers in Bangladesh

This paper aims to examine whether the perception of precarious work indicators affects the perception of decent work in SMEs and affects employee satisfaction in SMEs (informal workers). We interviewed one hundred and three respondents who are SME credit recipients of different banks of the Sylhet division in Bangladesh to investigate the relationship between precarity, decent working conditions, and life satisfaction. The results show that perceived precarious work has the most significant influence on the perceived social dialogue, considered one of the three constructs of decent work. At the same time, perceived precarity also has a significant direct impact on life satisfaction. A worker’s life satisfaction depends substantially on the perceptions of precarity and decent working conditions. Firms can help employees deal with personal and professional challenges that may impair their job and life contentment. Organizations can address a general sense of well-being and a healthy and pleasant working environment to improve their life satisfaction. This study adds to the field of Organizational Support Theory (OST) and builds on previous work on organizational support strategies. In addition, this study contributes to the body of knowledge by showing that a worker’s life satisfaction depends substantially on the perceptions of precarity and decent working conditions. © The Author(s), under exclusive licence to Springer Nature Switzerland AG 2022.