This study looked at the effects of employee motivation on job performance and how competition might be enhanced with employee motivation. Managers and employees were each surveyed, and the answers were gathered and analyzed as a group to obtain a collective response on work motivation in the banking business. Issues covered in the study ranged from the personal attributes and qualities to own opinions from questions drawn from theories of employee motivation. The degree of choice of different queries varied with the extent of response to the said questionnaire; disagree neutral, agree strongly agree. The banking industry as an emerging market for services like investments as a result of financial management and conducive business environment. Work motivation, inspired by the good working condition is a real business development factor and a building block for financial success. Management participant showed that it was their responsibility to motivate the employees demonstrating that employee motivation was a key aspect in leadership. Employee participants revealed that as a contributor to staff motivation it is critical that management focuses on recognizing effort from employees and create reward schemes that will push employees to perform even more.
Chapter one
Introduction
The Standard Bank Angola is an international financial institution which provides banking services and financial services like asset management and other products to both small, medium entities, and individuals. The personal banking products in its portfolio include saving accounts, transactional, offshore funds, term deposits, asset management, and fiduciary financial services. These banking services are available to both corporate and personal clients.
The Angolan economy is above three percent, and that is within the range of the fastest growing economies. With this growth, the economy is considered suitable for financial investment, with the aid of favorable fiscal policies and business environments. (Standard Bank -Angola, 2017).
Standard Bank as a case study is involved in the provision of other services like corporate financing, liquidity management and supporting clients’ international investments.
It also provides insurance solutions for different customer needs. Financing options with the company are in facilitating long term loans and equity. Money management and other tailored customer services are also services that bank of Angola provides.
Standard bank of Angola is at the forefront of the country's economic reform and transformation.
The state is putting in place strategies to ensure that the emerging the best economy in the entire region. Rising above other nations in the area is facilitated by activities like investment advising, insurance cover and business loans to struggling institutions.
Employees play a crucial role in the company to attain the strategic objectives of the company.
Employee motivation core issue in a company’s advancement and ensuring that all employees are on board with the company objectives goes a long way to make sure that the firm attains its projected goals. Positive empowerment for the staff is crucial for the bank of Angola to perform its duties and achieve their above-stated goals.
This research focusses on the impact of employee motivation examining leadership theories on how they handle employee motivation and establish key mediating factors between employee motivation and job performance.
Rationale of the research
The study examines factors that contribute to employee motivation and how this as an individual factor directly contribute to employee motivation. With in-depth analysis into employee and management views. This research also examines theories that support work motivation and how they continue to influence employee motivation with views from employees of the bank of Angola (Rama Devi & Nagini, 2014).
Objective of the research
The purpose of the research question is to establish the work motivation as an underlying factor and its direct relationship to job performance reflecting on previous theories of management.
Chapter 2
Literature review
The inputs of employees are crucial to being on par with the external competition, the input of employees is influenced different economic levels and is the driving force in each organization. The motivation of employees is a fundamental aspect of companies progress. It is prudent for a company to maintain employee motivation and morale at the positive side because it is a crucial component for success. Research shows that staff will propagate their satisfaction by increasing productivity and performance of the organization. Shalini Tomer asserts that equal promotion pay and conducive working environments are essential determinants in motivational levels of employees (Lazaroiu, 2015)
The banking industry has not been left behind because banks are retaining top performing employees, for instance, banks are creating favorable conditions to keep employees who perform well.
This can be seen in both private and public banks. Offering incentives like flexible working conditions, comprehensive health benefits, and promotions when deemed fit. Herzberg’s two-factor motivational theory, motivation factors; identify that recognition and allowance for promotions among other factors are motivators. Hygiene factors on the other hand deal with factors like working conditions, administration, and pay (Ferris et al., 2013).
Employees are an extension of the organization, and human resource should capitalize on this as a tool by ensuring that employees are rewarded with recognition to improve morale and to sustain excellent behavior (Parker, 2014).
Theories of work motivation
Transactional leadership theories
Transactional leadership theory fronts the idea that a leader is a person who motivates the staff through reward schemes for obedience and good deeds and punishment for reprimand. With this theory, employees are supposed to follow instructions without question, and the manager is allowed to use all his power and authorities at his disposal to instill discipline and influence company performance.
This theory gives the manager the ability to provide all the requisite conditions and resources for the completion of a particular task. In most instances, transactional leadership is effective when the employees are ready to receive direction to ensure they achieve efficiency (Belias & Koustelios, 2014; Mitchell, 2013). Staff and companies have set objectives which have to be met. These objectives have to be measurable specific, relevant and timely (SMART). This theory pushes for employees to be rewarded when they perform according to expectations and recognizes accordingly.
Besides rewards offered to employees are given extra motivation to achieve even more exemplary performance. This punishment/reward system influences the employee so that they can reach their desired goal (lazaroiu, 2015).
For instance, the sanctions compel the workers to perform or work within the set guidelines to accomplish tasks assigned to them. The rewards earned by staff accrue from them conforming to certain sanctions set aside. Maslow’s hierarchy of needs theory provides some practical example how transactional leaders get more concerned with procedures than creative ideas. According to this theory, employees who do not meet targets often get suspended or expelled (Yusoff, Kian, & Idris, 2013).
The banking industry operates on goals and objectives that must be achieved by the staff. And when performance falls below expectations the management has to look at an employee performance and make recommendations (Ferris et al., 2013)
Herzberg’s Two-Factor Motivational Theory
According to Herzberg, there are two major factors at the workplace that can encourage or discourage employees from displaying the best of behavior. The theory came to be known as the two-factor because it suggested that motivation got nurtured by the provision of both hygiene and motivation factors. In fact, Herzberg based his argument of better performance through the satisfaction of the job by the workers. Employers are encouraged by their responsibility to give the workers the best environment to perform (Yusoff, Kian, & Idris, 2013).
The organization has to consider the input of employees, and without them, companies will not be able to operate successfully. It is an important task for employers to facilitate the achievement of the organization. Herzberg agrees with Maslow on encouraging employees in the workplace. Theories suggest that some factor have higher motivation while others result in dissatisfaction of workers in the job place. Motivation is a perception and employees need to perceive that they are appreciated to give their best in the organization (Mitchell, 2013). This theories groups factors that lead to motivation as motivational and those that do not motivate as hygiene factors. Dissatisfaction and satisfaction are opposite, and each occurs independently. The organization should consider both of these factors to achieve balance (Alshmemri, Shahwan-Akl, & Maude, 2017). Management needs to do much to motivate workers by removing the factor that inhibits staff motivation by creating good working conditions (Ganta, 2014). This ensures that a staff member is in the best mental and physical state in the workplace (Alshmemri, Shahwan-Akl, & Maude, 2017).
Maslow’s hierarchy of need theory
Maslow explains that with this theory, people strive to meet the basic need because the level of need is in the form of a hierarchical succession. Motivation is a measurement of attaining more challenging goals. According to Maslow, one has to satisfy each need as he moves up the hierarchy. Cao et al., 2015, explains that an employee felt respected and appreciated when he achieves his goals. Self-actualization entails having the ability to solve problems and creatively innovate which lead to recognition of an employee (Aryee et al., 2015).
Most employees will expect the company to give them salary increments, recognition, promotion and retirement benefits so that they can feel well appreciated. In so speaking, the banks should continue to monitor the impact of the approaches they have been making on the staff and hence matching every motivational factor with employee expectations. Human resource staff should always create ways to appreciate employees that do not affect the company policies and traditions.
Financial motivation system like increasing salaries and remuneration is found to work better in developing economies as a result of reduced or even low quality of living standards. In most occasions, emerging economies get faced with the problem of high inflation rates, and therefore people demand higher compensation to be able to improve their purchasing power. Employees are motivated when they earn more or are promised to make more. Moreover ensuring that employees are correctly rewarded is important and is an investment for the company because they receive higher performance as a return.
Each goal is fundamental in its way and plays a unique role in different situations. Workplace motivation is a result of a consequence of unbiased satisfaction of the ranked wants.
Expectancy theory
Vroom argues that behaviors are the direct consequences of making choices whose primary intention is to balance pleasure and benefits. It further explains that performance of an employee is subject to abilities, experience, knowledge, skills, and personality. Motivation is a link to performance and effort to realize specific goals. Each organization has to apply modern technology in the work place to increase efficiency and improve morale (Yeheyis et.al, 2016).
Provision of incentives, good pay, better working conditions, chances for training, and provision of modest accommodation work for the best interests of the employees and the company or bank. The workers benefit from job satisfaction which has way enormous positive implications in determining the health of their lives.
The management often fails to recognize that motivation can be both positive and negative depending on whether it is directed at the right direction. Therefore, corporations should ensure where they are applying motivators is where they are needed much rather than subjecting them to any area because doing so will not give the expected results. In fact, studies can attest that employees require a better environment for them to advance educationally and better career skills.
Chapter 3
Research methodology
Participant includes managers and employees male and female in the Standard bank of Angola. The research was conducted using a questionnaire. The potential participants for this survey, 14 in total six female and eight males. The top management consists of three male employees while the subordinate staff consists of six females and five males. The survey consisted of the age of participants, gender nationality, and personal opinions on motivation and factors that impact motivation of employees and in the case of management how they felt their responsibility to make workers motivated. Different variables measured in the survey was to see how each factor influence motivation. Participants were given different questionnaires depending on the level of management. The form was handed in for analysis. Each form had an assigned designation.
Results
Concentrated data from different target groups were analyzed separately, data for management and other employees. There was complete variance showed no significant influence of some factors on work motivation. Data from the top management reflected that motivation is a state of mind which each present. The commitment was the foremost important element in the working environment. Recognition, career path choices, respect, and engagement viewed as other factors that inspired employee motivation. All managers took the personal responsibility to make employees motivated by leading by example in important company roles. Avoidance to make a decision was not a fitting quality of top manager and was a demotivating factor in employee maintenance. Most management saw that involvement in important issues was least fitting and waiting for the problem to escalate before taking issues was least fitting to management and is also a factor that influence work motivation in standard bank. Considerable taking into account event progress. focus on event and supervision of was very fitting further explaining Herzberg’s two-factor motivation theory on the role of supervision in reward and reprimand system.
Provision for assistance was very fitting for most management personnel and is also a motivating factor for employees. Clarity of job description also came out a fitting management policy hence viewing it as a motivating factor in management. Consideration of individual job need also promoted job motivation.
On the side of employees most viewed motivation as being positively influenced to work each day with passion, others explained that motivation is having the necessary propulsion to work considering factors like salary, positive element to influence work participation.
Good working environment motivated most employees to work positively, another issue of benefits and compensation was very motivating though one employee in an advanced age group says salary as less motivating. Appreciation from managers was motivating and mostly felt that standard bank has motivated them sufficiently. Good communication from management also inspired proper motivation.
A good salary was a contributing factor to staff motivation because employees can realize their needs according to Maslow hierarchical needs theory, better salary means better attaining of needs. Extensive supervision is moderately motivating according to workers at Standard Bank though according to Herzberg two-factor motivational theory supervision is a good way of supervising employees to reward performance. Job security and delegation of responsibility creates a feeling that employees are valued and hence motivate employees. Allowance for promotion was moderately motivating to employees.
Competition among employees was mostly motivating to all employees as competition is a determinant of promotion and also a motivating factor. Insurance is a high motivation for young employees while a senior employee saw insurance as less motivating. Independence was also motivating to employees because it shows management trust in employees. Personal growth varied with age, where the senior employee was not inspired with provision for personal growth because their careers were are ending. Job status is a motivating factor because it influences morale and is a way to show success. Tranquility was a slight motivation to most employees though the conducive working environment is important. The level which motivation in standard banking, two employees submitted the lowest motivation. The difficult interaction was an inhibiting factor in employee motivation. Doing your specified job without supervision inspired employees to be more motivated. Results also showed that approval affects motivation and hence performance. Employees are more motivated when entrusted with interesting work that when they are not deleted important duties Improvements to cater for recognition of employees when they perform well is a driving factor in employee motivation. Issues like the risk of job loss have no considerable effect on employee motivation and performance. Job security also is no determinant of motivation and performance.
Questionnaires were a relevant way of collecting data in this study are the relevance of the using questionnaire was important because it is private and in this study. The sense that they possess the capacity to collect and obtain information which is up to date as possible as compared to secondary sources. Apart from the questionnaires and in interviews, the research will as well employ surveys. Secondary sources like the online resources will as well provide a rich source of information for the completion of the study. Different theories reflect the issue of staff motivation in employment interview prevent wrongful interpretation of information of information because the researcher can obtain additional information to aid in the research. And it is also simpler to transfer data for analysis.
The management should view motivation as being positively influenced to work each day with passion; others explained that motivation is having the necessary propulsion to work considering factors like salary, positive element to affect work participation.
When employees have the highest level of satisfaction, they will be fit to work for the company with positive motivation.
Employee involvement and making them feel part of a bigger group is a channeled response to employee feeling down. Assigning important duties comes with a bigger salary and is a source of motivation, from research when performance is down most factors can be tuned to work to the advantage of the company. Banking industry and other service industry should recognize that service is their key selling point and use it as a primary area of focus.
Provision or reward schemes regarding salaries, better pay and working conditions show that the company has the best interest of their employers. Benefits of compensation are very motivating and is a sign of appreciation by the management. The company benefits from job satisfaction which has way enormous positive implications in determining the health of their lives.
References
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