Introduction
Employees are considered as the most important factor that can potentially improve or destroy the business. Even if all the machineries and equipment are busted, people can still manage to handle the difficulties for they are knowledgeable and skillful more that the latest technologies. People can turn the things according to what they want and therefore, an organization is aiming to collect a lot of essential people to that can contribute in satisfying the long-term goal of the organization. The most basic equation that a human resource managers and business leaders agreed upon is whenever an employee increases their performance there will surely a train of increase performance for the business.
Background and Problem Statement
Motivation can be applied in all aspects of life and activities. In an organization, there are two kinds of popular motivational approach that might be exerted right from the organizational leader. First is through the financial rewards or incentives and the other can be defined as the personnel’s willingness to exert and maintain an effort to achieve the organizational goals (Mathauer and Imhoff, 2004). It is determined that the key effectiveness of an employee can be measured on how well the organization takes care of the workforce. In addition, every leader is targeting the job satisfaction for their employees to easily attach in their system about the idea of job commitment. But in financial institution, the two motivational factors might be implemented depending on how they approach to increase each of their staff’s performance.
Research Aims and Objectives
The aim of the study centers in the idea of improving the motivational approach on the staff or employees of a financial institution. In order to support this aim there are three objectives that can be the propeller of the study. First is to determine the existing motivational approach that is utilized in the organization. Second is to recognize the perceptions of the employees and the manager regarding the motivational approach being implemented and what are the results that typically happened. And third is to formulate a suggestion that can increase the motivational approach within the financial institution.
Literature Review
Motivation is one of the infamous tactics or strategy that is used to target the effectiveness of the workforce in their respective field. Through the employee performance management system, the motivational approach are periodically reviewed by the senior management and detect if there are any progress made and if there are any need for improvements. Most of the managers are aided by the human resource managers to determine the rate of their employees’ performances and categorize the other potentials that the employee might possess. However, there are times that the assessment regarding the employee performance are held informal which is a great way for the managers to recognize the employee behavior and other issues that might limit the career improvement of the particular employee. Through the assessment, there is an established communication and exchanging of information that might increase the motivational approach towards job satisfaction (SBFI, 2009).
Organizational leaders and managers understand that there is a link between the satisfaction and motivation and if they did not win to collect the commitment of every employee, they are not effective leaders either. The problems within every organization are the lack of power to push the people to excel in their performance record and discover their other potentials. And in the career development in financial institutions, providing the high quality performance and better working conditions are suggested motivational approach most especially when the country is facing too much challenges even in financial stream (Mathauer and Imhoff, 2004). Motivation can be also arrived where the organization managed to identify the needs of their employee such as their self-esteem need and self-respect, appreciation or recognition, the safety and security of the employee (Wright, 2001).
Methodology
The suggested method in the study is the use of the survey and interview. Through the combination of two methods, the study can identify the empirical ground in terms of handling and motivating the employees in financial institutions. At first, the use of survey can determine the level of motivation among the participants who are all the employees and what are the impact it created in their performances according to their perception. Meanwhile, the interview will be allotted for the managers who purposely implemented the use of motivation and recognize their reasons for implementing it. In addition, the interview can decode the expected results of the manager and determine if the results are synchronized in the real outcome.
References:
Mathauer, I., & Imhoff, I., (2004) “Staff Motivation in Africa: The Impact of Non-Financial Incentives and Quality Management Tools, A Way to Retain Staff?”, Accessed 02 June 2010, from http://www2.gtz.de/migration-and-development/download/mathauer.pdf
SBFI, (2009) “State Board of Financial Institutions Annual Accountability Report – FY 2008-2009”, Accessed 02 June 2010, from http://www.scstatehouse.gov/reports/aar2009/r23.pdf
Wright, B., (2001) “Public-Sector Work Motivation: A Review of the Current Literature and a Revised Conceptual Model”, Journal of Public Administration Research and Theory, Vol. 11, No. 4.
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