Monday, November 2, 2020

Employee Motivation To Enhance Employee Performance In The Banking Sector

 

Introduction To Motivation

All organizations want to be successful in today’s business world which is highly competitive and more volatile. Over the years organizations have considered the human capital as being one of the primary assets, capable of leading them towards success or to a decline if not managed properly (Dobre, 2013). Despite its market complexity and its size, organizations strive to retain the best employees acknowledging the important role and the influence on organizational effectiveness. Organizations develop strategies to compete and overcome challenges by creating a strong and a positive relationship with its employees and directing them towards fulfillment of tasks. If the employees are not satisfied with the jobs and are not motivated willingly to fulfill the tasks and achieve goals, the organization cannot attain its success (Abbah, 2014). 

For an organization despite the financial resources being the strongest, the human resources create competitive advantage for the organization (Rizwan et al, 2010). There are a large number of factors affecting the performance of an employee. Some of such being organizational culture, recognition, job satisfaction, training and development and more importantly motivation which has the significant degree of influence over the organizational performance (Abbah, 2014).

Work motivation is derived from an interaction between individual differences and their environment (Latham and Pinder, 2005). According to Bartol and Martin (1998) motivation is an internal drive to satisfy an unsatisfied need and to achieve a certain goal. Employees have different mixture of needs that are continuously competing with one another. All individuals are not the same (Abbah, 2014); hence each one should be motivated using different strategies. Some employees are money motivated while another would find recognition or a better work environment is motivating (Dobre, 2013).

The primary reason for any individual to joint to a company seeking employment is to meet his or her personal goals. However the problem occurs in the absences of an alignment between the individual goals and the organizational goals. The moment when both goals are in align things get streamlined (Dobre, 2013). As Kalimullah (2010) suggested, a motivated employee has his/her goals aligned with those of the organization and directs his/her efforts in that direction. Hence the management should have its focus on reaching the employee to their individual goals while ensuring they meet the organizational goals. People are motivated when they expect that a course of action is likely to lead to the attainment of a goal and a valued reward (Armstrong, 2014).

As an employee of a leading Commercial Bank in Sri Lanka, the banks transformational journey over the last 40 years had made possible through the collective efforts of the most valuable human resource .The bank is powered by a team of highly-competent and motivated professionals who are empowered to drive the bank to deliver results. The human capital strategy aims to develop and retain a competent and energetic team that is motivated to deliver superior client experiences. (National Development Bank PLC Annual Report – 2019).


 References

 Abba, M.T. (2014). Employee Motivation: The Key to Effective Organizational Management in Nigeria. Journal of Business and Management. Volume 16, Issue 4.

Armstrong, M.  (2014) Armstrong’s Handbook of Human Resource Management Practice. 13th Edition.

Dobre, O (2013). Employee Motivation and Organizational Performance, Review of Applied Socio- Economic Research, vol. 5, Issue 1/ 2013, p. 53

Johnson S and Nandy S (2015), Organizational behavior, Management, & Leadership, vol.1

 Latham, G. P., and Pinder, C. C. (2005). Work motivation theory and research at the dawn of the twenty-first century. Annu. Rev. Psychol.  486. doi: 10.1146/annurev.psych.55.090902.142105

 Manzoor A (2012) Impact of Employee Motivation on Organizational Effectiveness, Volume 3 


12 comments:

  1. This comment has been removed by the author.

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  2. Hi, I would like to add some further information of motivating strategies relating to your post. Tella et al. (2007) mentioned four strategies of motivating workers which are money, staff training, information availability and communication and álso salary, wages and conditions. Furthermore, Tella et al. (2007) described those as follows.
    Money is done based on employee productivity. The employee productivity will be increased through the fear of loss of job here. In the staff training, workers will be enable to learn and grow to fit them into their workplaces. Information availability and communication enhances employee relationship and creating a reliable environment in workplace for workers. In salary , four major components of salary structures are considered. Those are the job rate,payment,personal or special allowances and fringe benefits. payment is based on the employee’s performance and personal or special allowances are given them considering their specific skill ,qualification and service period.

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    1. Adding to your valuable input, Akintoye (2000) asserts that money remains the most significant motivational strategy. Motivation represents the forces within a person that affect his or her direction, intensity, and persistence of voluntary behaviour (Campbell & Pritchard, 1976, Pinder, 1998). Research has suggested that reward causes satisfaction to employees which directly influence the performance of the employee (Kalimullah, et al, 2010).

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  3. Leonina et al. (2013) has also studied that influence performance appraisals have on employee satisfaction with the usage of expectancy theory, which relays the importance of employees understanding the value of their skills and contribution to the organization, which in turn is linked to a good opinion of themselves and increased motivation.

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    1. Organizations collaboratively use different performance assessment methods to accomplish their aligned set of objectives. (Patrick Alain, 2013). Employee motivation is one of the policies of managers to increase effectual job management amongst employees in organizations (Shadare et al, 2009).

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  4. Hi Himasha. McDougall had defined character as “what in a man which gives, or rather, is the ground of, consistency, firmness, self-control, power or self-direction or autonomy.”; hence we may succinctly think of it as, that which constitutes the identity of person in one and the same individual is only the continuity and the consistency of his/her character. Therefore, no two men would be the same character wise, resulting in the need for different approaches in satisfying different individuals at different situations including and specially when it comes to motivating a person. This further as addressed, calls in the need for different performance platforms into human resource management measures, designed to align and streamline individual goals with those of organizations. It is imperative to practice to evaluate employee performance based on a set of standardized criteria's maintaining transparency of the values (McGregor and Doshi, 2015). This becomes truly crucial when organizations use non-standard or poor platforms to evaluate people particularly in assessing promotions, which seems to have an impinge on employee performance. Based on this risk factor, some companies like Microsoft tends to move away from performance review systems (McGregor and Doshi, 2015).

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    1. Hi Asitha, Agree with you on the fact that need for different approaches in satisfying different individuals at different situations when it comes to motivating a person. Many employers or managers now view performance management as an ongoing cycle of activities that links the organization's culture, business goals and strategies to individual performance and contributions (John Mattone,2013). Performance management is an important area which is used to evaluate and enhance the actions of the employees of an organization. Ulrich and Chandler (2016), has clearly pointed out that there is a greater usefulness in having a good performance management system within an organization in order to ensure achieving overall goals of an organization.

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  5. Hi Himasha, I agree with you According to Armstrong (2010) all organizations are concerned about what needs to be done to achieve sustainable high performance through people. This means focusing on incentives, rewards, leadership, and, most importantly, how people can be better motivated by methods such as the work they do and the organizational context in which they do it.

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    1. Hi Ranga, in today's world many organisations do believe that its success is made possible through the collective efforts of the most valuable human resource. Motivation levels within the workplace have a direct impact on employee productivity (Mansaray, 2019)

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  6. Hi Himasha, I also agree with you. The strategy of the management team of the bank in which I worked for: “As a service organization, we are conscious that our employees drive our success. We firmly believed that happy employees make, happy customers.”: in terms of remuneration and rewards while investing in talent development:

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    1. Hi Janka, specially in a service organisation it's the employees who drive the organisation towards its success. Strongly agree with you on the fact that happy employees make, happy customers.

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  7. adding to your detailed introduction on employee motivation, Lindner (1998) defined it in relation to the person and the organization where he stated that employee motivation is the inner force that drives an employee in his/her quest to achieve personal and organizational goals.

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