Salim Said Mhanna
Abstract
The banking
industry is a highly regulated powerhouse that stabilizes the economic
environment of nations around the world. Banks store sensitive, personal
information about their clients, and commercial banks often house more valuable
inventory -- cash -- than other retail operations. Bank employees, from
executives to tellers, must have a higher level of integrity and
trustworthiness than employees in most other industries, making the role of HR
in banking that much more important.
Private banking is a
rapidly growing business in the world, offers the most sophisticated form of
banking service available to the individual. Modern private banking is not a
single activity but comprises a range of a very different business, which are
targeted at different client segments.
In a world where customers wake up every
morning asking, “What’s new, what’s different and what’s amazing?” success
depends on a bank’s ability to unleash the initiative, imagination and passion
of employees at all levels. Employee engagement is not simply the goal, but the
means by which people and organizations are able to innovate, differentiate,
and ultimately serve their clients.
Jobs are important to people because they
have surplus meaning beyond just providing a paycheck necessary to sustain
their economic survival. Propel ask a lot of their jobs, as they become better
educated and develop rising expectations about what jobs should supply.
The main purpose of this study was to assess
the role of work motivation on employee performance. This study in an
assessment of this purpose used deductive approach in which
a qualitative survey was carried out among
employees at Lebanese private banking sector.
The survey was intended to get their
responses on what they feel is (are) the best factors that could motivate them
as working employees among a list often motivational factors. In this light the
study sets to identify the most ranked factors among ten motivational factors.
These factors are the reasons one has for
behaving a certain way. The analysis from the empirical findings showed that “Job
satisfaction” was the most ranked factor for the sub group that made up the
sample survey. This study therefore can be seen as an introduction to a more
detailed study to be carried by future researchers on the field of employee’s
motivation.
INTRODUCTION
Motivation is the internal and external
factors that stimulate desire and energy in people to be continually
interested and committed to a job, role or subject, or to make an effort to attain a goal.
Key influential factors related to office
environment context have been well investigated. Researchers reported that a
number of different factors can influence employee satisfaction with their
workspaces, including building design, air quality and temperature, noise and
lighting, ability of employees to personalize their workspaces and workspace
design and management etc.
The purpose of the study is to analysis of employee
satisfaction in private banking sector.
The satisfaction of employee is analyzed actually by the
output that the individual produces and it is related to office environment.
The organizational structure and culture, the management style, the nature and
complexity of the work done and the facilities provided play a major role in
determining the amount and quality of the output from the employee. Personal
characteristics, competencies and motivation play an important part too.
Employee satisfaction is the terminology used to describe whether employees are
happy and contented and fulfilling their desires and needs at work.
Many measures purport that employee satisfaction is a
factor in employee motivation, employee goal achievement, and positive employee
morale in the workplace. The facets of employee satisfaction measured vary from
bank to bank.
Why Employee Satisfaction is Importance?
Employee satisfaction is an important success factor for
all organizations. Employee satisfactions have been recognized to have a major
impact on many economic and social phenomena, e.g. economic growth and higher
standard of living. Banks must continuously employee satisfaction in order to
stay profitable.
Purpose / benefits of employee
satisfaction include as follows:
·
Employee will believe that
the bank will be satisfying in the long run.
·
They will care about the
quality of their work.
·
They will create and
deliver superior value to the customer.
·
They are more committed to
the bank.
·
Their works are more
productive.
Importance of employee satisfaction
for bank:
·
Enhance employee retention.
·
Increase productivity.
·
Reduce turnover,
recruiting, and training costs.
·
Enhance customer
satisfaction and loyalty.
·
More energetic employees.
·
Improve teamwork.
How to create a motivating and satisfying workplace?
Motivating employees isn’t as simple as paying them more. People
are complex and lots of different factors contribute to their overall level of
job satisfaction, and what motivates people to do their best work.
Happiness, career aspirations, challenges, money, stress, are all factors
that contributing factors in employee motivation.
There is an optimal level of arousal that is key to
motivating people. This can be brought about in many ways: employee
recognition, dialogue with employees, employee coaching, and healthy
relationships with bosses and co-workers.
Human resources professionals must manage their
organizations with finesse, constantly looking for that optimal level workplace
satisfaction which keeps employees motivated and engaged.
Does motivation lead to satisfaction or does satisfaction
lead to motivation? It’s the classic chicken or egg debate. Is the onus on the
employee to be motivated or on the employer to satisfy?
Thousands of job advertisements looking for “ambitious,
highly motivated” employees indicate that the popular belief is that motivation
leads to satisfaction (for everyone). Perhaps that’s why so many companies are
falling behind in the talent war.
In the modern workplace, employees don’t respond to the “carrots
and sticks” that worked in the
era of the man in the gray flannel suit. They won’t hang in there hoping for
promotions, seniority, or long-term benefits because they no longer expect to
work at the same company for decades. They don’t care much about being praised
or punished on a performance review, because they’ve learned that reviews on
file no longer affect their long-term careers. That’s why Daniel
Pink, the respected business author, says public employee
recognition, not private, is second only to money as an employee motivator. Dr. Paul
Marciano, the motivation and retention expert, puts recognition
first on his list of workplace requirements.
The key to driving employees to perform
better
In a recent study by “The Social Workplace”,
69% of respondents said they would work harder if they were better recognized,
and 49% said they would leave their current job for a company that clearly
recognized employees.
Here are three reasons a simple ‘Thanks’ will
drive employees to work more effectively and perform better:
1. Happiness
We know that happy employees are 50% more
motivated, so we should focus on creating a happy work environment. Recognition
doesn’t have to mean handing out cash bonuses based on performance. It simply means
taking the time to let individuals know that you are conscious and appreciative
of their efforts. Happiness at work doesn't just boost morale; it leads to
better reviews, faster promotion, fatter salaries and higher productivity.
2. Encouraging
Encouraging is what keeps the team running;
the team with encouraging and recognition is simple and will benefit the bank
in the long run.
3. Personal Growth
Everyone wants to know how they’re doing and
how they can improve. By giving people the feedback and recognition they
deserve, it will inspire them to work harder and build their reputation.
Competition is everywhere, but the person we compete most with is ourselves;
always to improve and be better at what we do.
Motivating employees without breaking the bank
Motivating a team isn't about cash
rewards. In fact, research shows that the biggest motivator in the workplace
isn't money but, instead, competition and intrinsic rewards. But people are
also motivated by other factors like schedule flexibility and understanding the
connection between their goals and the larger goals of their organization.
Sometimes people decide to apply for a job
because it is a high paying job. However, one should think about the long run
of the job. Does it have good retirement benefits; does it offer good health
and dental coverage?
Human resources management has to go
on a financial limb to improve employee retention. Here are suggestions for
unlocking people’s desire to be engaged and that can help human resources
management to motivate teams:
1. Give them what they want
Even more than pay raises,
employees want acknowledgement, recognition and validation. It's easy for busy
managers to take their team for granted and not acknowledge hard work. Giving recognition
can be as easy as dropping off a thank you note or present, but public
recognition in front of coworkers is a fantastic way to show your employees
that you appreciate them and want the whole bank to know.
2. Convey Meaning and Purpose
It's important to make the
employees understand how their work connects to the larger goals and functions
of the bank and how their individual goals help the company achieve its overall
goals. That way, employees understand that their work has purpose and meaning.Understand
what motivates each of your employees so you know how to motivate the staff as
whole. Strive to create an environment that encourages employees on a personal
level. Ask the employees what motivates them to work either one on one, in a
survey or through the supervisors. Ask what they would like to see in the bank
that would motivate them even more.
3. Set an Example
Inspire employees by motivating yourself. It is
difficult for you to inspire others if you do not feel inspired.If you want your employees to have passion and motivation
at work, show them with your own passion and motivation. Include team
communication in discussions about issues affecting the bank. Offer a platform
to encourage employees to present innovative ideas that may help other teams or
that may help the bank. Organize morale-boosting events and let employees come
up with the ideas.
4. Encourage Open Communications
Open and honest communications will
help build a better, more motivated team. Making the team feel empowered and
encouraging honest communications is a great way to motivate employees.
5. Flexibility
Human resources management at the
bank should be treated with high flexibility with the employee problems and
take into consideration his/her family, socially and healthy circumstances,
gives him/her deserved promotions,dealing fairly and objectively in solving
problems,enabling the employee to
use his right for holidays at their disposal. Rejecting employee request for
holiday, due to different reasons, will have negative impact on
motivation.
6. Recognize their accomplishments
Recognition is a huge motivator
because it correlates our actions to a positive outcome. It also keeps us
striving to replicate the rush we feel when someone tells us we did a good job.
If you want your employees to be engaged, help them and others see the impact
their work is having.Recognize that supporting employee motivation
is an on-going process, not a task. It is not something to check off a to-do
list and then forget about.
7. Ask them for input
Employees have thousands of ideas
for driving the business forward that don’t get surfaced because managements
simply don’t ask. Solution: get in the habit of asking for feedback! Promote
creativity and the free flow of ideas, and engagement will follow.Engagement is
not simply the goal, but the means by which people and organizations are able
to innovate, differentiate, and ultimately serve their clients.
Do paying high salaries and additional
benefits gainful for the bank?
Salaries as we know represent the high
proportion of fixed costs for the majority of companies, including banks. Some
banks tend to reduce these costs while others consider it as investment. For
the former the employees are merely persons who could substitute by others
easily depending on the high number of merit unemployed candidates, while the
latter look to the employees as the most important capital for the bank, looking
forward to retain and motivate them to enhance their satisfactions.
People are considered to be the most important
asset of the bank. All fixed assets, equipment and infrastructure is useless
without the people. Employees create the living part of the bank that moves
material objects and other services within the bank toward expected business
goal.
Employee Motivation is an
element that extensively determines the final outcome of some activity. Without
proper employee motivation all capabilities and experience of an individual are
in vain. Motivation is like the fuel in the engine. You can have a perfect
machine, but without the fuel you can go nowhere. Motivation is important
aspect of business management. Motivating employees is not just task of Human
Resources but it is a responsibility of all managers. Lack of on job motivation
can cause increased employee turnover.
Salary and additional benefits system are basic
factors of workplace motivation. It is important that policy of rewarding is
balanced. Unbalanced salary and benefits policy per position within company is
counterproductive. Although it is prohibited to share information about the
salary in public, employees are mostly aware of salary levels per position.
Balance of the salary is not corresponding only to positions within the
company, but also between similar positions in competitive companies.
Paying high salaries and additional benefits,
seems an increasing in the total cost of the bank, but in fact it is considered
lucrative on the long-term, based on the following expected results for bank:
- Improving the bank’s image.Most of the time people want to deal with the institution that treats their employees ideally, because they think they will receive the same treatment as they are customers.
- Attract and select of the most qualified personnel.
- Enhance employee retention.
- Increase productivity.
- Reduce turnover, recruiting, and training costs.
- More energetic employees. (Willing to work extra time).
- Enhance customer satisfaction and loyalty.
Great employers must shift the
focus from trying to get more out of people, to investing more in them by
addressing their four core needs — physical, emotional, mental and spiritual —
so they're freed, fueled and inspired to bring the best of themselves to work
every day.
It's common sense. Fuel people on a
diet that lacks essential nutrients and it's no surprise that they'll end up
undernourished, disengaged and unable to perform at their best. Our first need
is enough money to live decently, but even at that, we cannot live by bread
alone.
Human resources role in managing
change
HRM seeks to place the right
employees in the right jobs at the right time and at the lowest possible cost,
thereby providing the means for the bank to pursue its competitive advantage
and to cope with problems, threats, and opportunities arising from change
technological, social, political, and environmental. It should keep the future
customer in focus.
Recruitment should encompass both
the attraction and the selection of the most qualified personnel. The ideal
recruitment program is one in which a sufficient number of qualified applicants
are attracted to and ultimately accept the job in an efficient manner.
Applicant Screening
HR systems help determine how
people are recruited, hired, trained, motivated, treated, evaluated, paid and
integrated into the bank. HR activities are illustrations of organizational
capability as a source of competitive advantage. Certain jobs do not really
require a thorough background check, but any job in a bank definitely does.
Human resource departments in banks must go the extra mile to uncover the
criminal and financial history of job applicants, for the safety of their
clients and their organization as a whole. Banks are highly unlikely to hire
candidates with financial fraud on their records, for example, due to the sheer
weight of temptation a position in a bank would place on someone with that kind
of history.
Executive Recruitment
The banking industry is highly
competitive and finding the right executives is crucial in any industry. Human
resources professionals in banks must go the extra mile to recruit the best
executive talent in the banking field, allowing their organizations to thrive
and grow into the future. Human resources departments in corporations must gain
approval of the board of directors before bringing someone in to fill an
executive spot, as well.
Employee Relationship Management is
a key towards achieving motivation.
“Employee relationship management”
is a term that refers to relationship development and management between
management and employees.
There are a lot of different issues
that can affect employee satisfaction, which has a direct result on employee
productivity and overall corporate culture.
Employee relationship management can be driven by using employee surveys
to directly engage the employees in the issues that are most important to them.
Some of the core issues that can be
controlled with effective employee relationship management are:
Communication
Open communication both amongst the
employees and between the employees and the management team is imperative. When employees feel that they can’t be heard,
they may become frustrated, leading to lowered employee morale. Lowered morale can result in lowered
productivity and an uncomfortable, or even hostile, work environment. Such kind
of direct communication between management and staff has highly appreciation
and great importance on employee morale, especially the social communication
such as congratulations or condolences.
Conflict management
When problems arise, it is
important to understand how to handle them.
This is a fundamental aspect of employee relationship management. Sometimes those conflicts occur amongst the
employees, and between the employee and direct manager, or HR manager.
Employee growth
Employees that feel they are only
required to put in their hours and go home will do just that. Employees that feel they can become a
valuable asset based on their work, as well as their ability to provide
important ideas, offer input, and perhaps pursue growth opportunities within
the bank, will create a positive atmosphere within the corporate culture.
Focusing on employee relationship management can have profound
effects on how bank business operates.Provide employees with ongoing
opportunities and incentives to learn, develop and grow, both in establishing
new job-specific hard skills, as well as softer skills that serve them well as
individuals, and as managers and leaders.
Stand
for something beyond simply increasing profits. Create products or provide
services or serve causes that clearly add value in the world, making it
possible for employees to derive a sense of meaning from their work, and to
feel good about the companies for which they work.
Conducting employee surveys is a
useful tool towards reaching a beneficial level of employee relationship
management, because they provide an opportunity for candid feedback and
analysis that isn’t achievable in typical business communication.
Empirical findings
General results
This
survey was designed to investigate the factors that influence private banking
sector employees to be motivated at work. The respondents were divided into
various categories, as there are differences
between what motivates employees and what employees want over time, it is possible
that there may also be differences between categories of employees based on
their gender and age. Figure 1.1 below shows the subgroups studied in the
survey, the number of respondent and percentage of the subgroup representing
the total of 60 respondents (employees).
These questionnaires were distributed randomly in order to
ensure maximum representation of all level of employees to avoid any possible
biases. To ensure this, for example, the sample included employees from
different age groups, gender, regions, and working at different banks.
I acknowledge the fact that this sample is not large enough
to be applying the results to the total population or generalize the result.
However, the results of this study could be used as a starting point for
managers or banks and other interested parties to identify and understand what
factors motivate employees and thereby ensure an environment that encourages,
promotes, and fosters such factors.
Table
1.1: Description of subgroups and the number of respondents
Subgroups
|
Number of respondents
|
Percentage of total
respondents (60)
|
Gender
|
||
Males
|
28
|
46,67%
|
Females
|
32
|
53,33%
|
Age groups
|
||
20 or less
|
3
|
5,00%
|
21-30
|
26
|
43,33%
|
30-40
|
21
|
35,00%
|
41 and above
|
10
|
16,66%
|
The respondents surveyed in these project-represented
employees in different positions. A survey questionnaire administered to
respondents asked participants to rank the ten motivational factors according
to how each factor would influence them at work. The most important factor was
to be ranked 5 and the least important factor was to be ranked 1.All factors
were to be ranked and no rank could be used more than once.
Table 1.2: below shows the categories into which
respondents were divided in the factors that influence them survey carried out
for this project. The collective rank order of factors by the entire group of
survey employee’s (60) is presented and the figure also makes it possible for
the responses of each subgroup to be compared with others and also that of the
entire group.
Figure
1.2: The factors that influence respondents’ rankings by subgroups
Factors
|
Females
|
Males
|
20 and
below
|
21-30
|
31-40
|
41 and above
|
Good working
Conditions
|
3
|
3
|
1
|
3
|
3
|
1
|
Promotion
/Expectation
|
2
|
2
|
1
|
2
|
2
|
3
|
Organization/ Management styles
|
8
|
8
|
6
|
9
|
6
|
6
|
Team spirit
|
4
|
4
|
4
|
4
|
4
|
4
|
Job satisfaction
|
1
|
1
|
1
|
1
|
1
|
1
|
Recognition
|
7
|
5
|
9
|
5
|
6
|
7
|
Working hours
|
5
|
7
|
6
|
6
|
6
|
4
|
Goals attainment
|
7
|
6
|
6
|
8
|
5
|
6
|
Good salary
|
7
|
5
|
5
|
6
|
7
|
6
|
Threats of layoff
|
10
|
10
|
9
|
9
|
10
|
10
|
The most obvious general observation that could be made
from table 1.2 above is that the entire group of survey participants and each
of the subgroups consistently ranked “job satisfactions” the most important
motivational factor. Layoffs were given the least importance ranking than any
of the other factors.
The
responses or results from the various subgroups are discussed thereof:
Gender (male/female)
When the responses of men and women are analyzed (table 1.2
above) no significant differences were found in the ranking of factors or
preferences of the two groups. Both men and women (though placing different
rankings) ranked four of the same factors among the top five most important
motivational factors. However, certain factors ranked differently by the two
group needs a closer look for example women ranked High salary and goals
attainment factors, 7th and 7th, while men ranked the same factors,
5th and 6th respectively.
Another difference in ranking of factors between these two
groups was also observed between Recognition and working hours. While men
ranked these two factors as 5th and 7th, women on the other hand ranked the same factors at 7th and 5th respectively. Considering the
results of this survey, one may safely assume that men are more interested in
making money and climbing the organizational hierarchy than do women. Compared
with the entire group’s collective ranking order of the top five factors were
also included in the top five motivational factors by both men and women.
Age group
Four age groups (see table 1.2 above) were analyzed:
20 years or under, 21-30, 31-40, 41 and above. The ranking of the top five
motivational factors was similar among these subgroups.
For example all different groups although ranked slightly
different between the different age groups, ranked all high job satisfaction,
expectations/promotions, and team spirit,among the top three factors.
However certain other factors between the different age
groups were ranked differently. Good wages was given higher importance (ranked
5th) by the age group 20 and below 6th by 21-30 and 7th by 31-40 and
6th by 41 and above. Another interesting observation was the
difference in ranking of good working conditions by the age groups 20 and below
and41 and above. This factor was ranked first by both groups while it was a
given a low importance by the age group
21-30 and 31-40. One possible explanation could be the fact
that, the age group 20 and below are still new in the labor market and still
have a huge appetite for materials things. While the age group 41 and above are
already in to the responsible age and will prefer a secured and working
environment.
LIU
University– MBA in Marketing
Sample bank employee survey questionnaire
For
Human Resource Management project.
Survey designed to investigate the factors that
influence the motivation of employees in banking sector.
Kindly
rank the ten motivational factors according to how each factor would influence
you at work. Please take a moment to fill it out.
Name*: …………………….. Employer bank: ……………… Years of work: ……..
Gender: Male □Female □
Age: 20 or under □ 21-30 □
31-40 □ 41 and above □
Rating scale: 1 to 5, with 5 = Best.
Factors
|
Evaluation
Criteria
|
Working conditions
|
1 □
2 □ 3 □ 4 □
5 □
|
Promotion /expectation
|
1 □
2 □ 3 □ 4 □
5 □
|
Organization/management styles
|
1 □
2 □ 3 □ 4 □
5 □
|
Team spirit
|
1 □
2 □ 3 □ 4 □
5 □
|
Job satisfaction
|
1 □
2 □ 3 □ 4 □
5 □
|
Recognition
|
1 □
2 □ 3 □ 4 □
5 □
|
Working hours
|
1 □
2 □ 3 □ 4 □
5 □
|
Goals attainment
|
1 □
2 □ 3 □ 4 □
5 □
|
Salary
|
1 □
2 □ 3 □ 4 □
5 □
|
Threats of layoff
|
1 □
2 □ 3 □ 4 □
5 □
|
* Optional.
Conclusion
In a world where customers wake up every
morning asking, “What’s new, what’s different and what’s amazing?” success
depends on a bank’s ability to unleash the initiative, imagination and passion
of employees at all levels.
The primary objective of this project was to assess the”
role of work motivation on employees’ performance” as an essential role for
human resources management. To be able to answer the research question two
purposes were developed for this project.
Firstly using the adapted factors, to determine a
collective ranking order of ten motivational factors and secondly, determine if
there are any similarities or significant differences from the results of the
survey and my preconception as a bank worker. A survey questionnaire was
prepared and administered among 60 employees in different banks.
Financial motivation we may all agree remains one of the
problems and major concerns facing organizations before today and even in the
foreseeable future. Furthermore, banks and those who work in them have over the
years changed in what motivates them as employees. Available and numerous
studies carried out shows that since the 1950s employee’s motivation have been
the focal point of much management of organizations. Given the difficult nature
of identifying how and what really motivates these employees it is paramount
that these organizations find all means and ways possible to understand the
motivational factors and to sustain them overtime for their general survival.
Such an understanding is the cause of low level of labor
turnover, high productivity, and high profitability. In order for them to gain
an understanding of what really motivates their employees an employee survey
such as this one may be used to gain insight to employees job motivation
preferences.
The respondents in this survey ranked as top five factors
that motivate them as future employees as follows: Job Satisfaction,
promotions/expectations, Recognition, Good salary, and
organizational/management styles. This project concludes that, these factors
reflect the current state of affairs in terms of employees needs and implies
that especially job redesign strategies may be used to reinforce and to
motivate employees today.
The most obvious and major findings emerging from this
study is the clear indication of job satisfaction as a top motivator among
today’s future employees. Regardless of age and gender, respondents in this
survey seem to have a common interest or goal. This I believe may have some
practical implications for banks, but perhaps its provision and implications
may not be as difficult because employees seem to have similar preferences and
wants. That is, they want their work to be as satisfying as it could be.
In general respondents in this project place high emphasis
on job satisfaction and other factors, which that are largely of basic in nature,
therefore banks that may provide such enabling environments, facilitate and
tirelessly promote these basic need factors could attract and retain high
caliber employees.
Harpaz (1990, p.81) argues that when work is “interesting
and challenging, people are inspired to perform more than is obligated to
warrant their instrumental attainments”, in order words, employees may put
additional effort with the hope of reaching their potential and accomplishing
worthwhile ends. Therefore the availability of unavailability of such job
factors may affect the worker and may influence the way the worker reacts
towards the job.
This may also in the long run ultimately affect the workers
motivational level and consequently the workers performance or output on the
job. Hence making jobs more interesting and challenging and ensuring the
availability of the primary motivational factors identified by this project, is
not only crucial for satisfying worker’s needs, but also it is necessary for
maintaining productivity and ensuring the long term survival of the bank.
The results of this study evidently show that it was mainly
the growth factors (lower order needs), which were highly valued and given
higher motivational importance than the traditional higher order need factors
by the respondents.
I suggest that these factors are longstanding motivators to
employee’s performance and that the most successful method of motivating is to
build challenge and opportunity for achievement into the job itself.
When it comes to the issue of money, which for my though
was the foremost reason why people work or are motivated to work. I argue that
the role money plays in people lives cannot be overlooked, since the main
reason why people work is to secure income, which gives them buying powers and
utilities and surpluses for savings. According to (Greenberg J. & Baron
Behavior in Organizations 8th edition Prentice Hall
p.191) “When it comes to motivation money isn’t everything” he argues that
perks, although important ultimately motivate people less than doing
interesting and important work. In this study, all the respondents irrespective
of age and gender considered wages to be of motivational importance. Available
literature as well as the findings of this study, show that good wages has been
consistently ranked among the top five factors that motivate every employee to
do his job best.
Nonetheless my general conclusion regarding wages is that,
good wages should not be regarded as purely a basic need factor as in Maslow’s
theory of motivation, but a factor that can lead to motivation and may have the
potential to de-motivate employees. Put differently money can perform a dual
role in motivating employees.
This project also concludes that the ranking of
work-related factors that motivate employees may change over time and may
differ significantly from one person to another and also across different
groups of employees. Furthermore, this project concludes that the important
motivational valve placed on each factor may vary according to age and gender.
It is my believe that since the things or factors that
motivate people to do perform best are distinct and different, learning about
what workers want from their jobs, or what is more important for them, may
generate essential information for effective human-resource management,
guarantying the long term profitability and survival of the bank.
Furthermore, such learning may help the Lebanese banks to
find answers to questions such as “why do some people invest greater effort in
their jobs and why some people are more efficacious in their jobs than others”?
In sum, I would argue that the long-term survival of any
bank depends largely on the motivation of its employees be it financial or
non-financial. Therefore banks should be willing to continuously and on regular
basis, undertake employees’ surveys such as this one in order to understand
what their employees expects from their current job. The result of such
exercises could prove useful for the bank, because knowing what their employees
want and effort in meeting these needs facilitate a mutual working environment
for both the employees and its management.
REFERENCE LIST
Textbooks
Greenberg
J &Baron A.R (2003) “Behaviour in Organisations”, Prentice Hall, Vol. 8,
pp.
188-215
Salim Mhanna – “Banking Activity and Market Strategy” –
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I. (1990), “The importance of work goals: An international perspective”,
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Shipley,
D. &Kiely, J (1998) “Motivation and Dissatisfaction of Industrial workers-
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relevant
is Maslows Theory” European Journal of Marketing, Vol. 22, Issue 1, pp.17-24.
Steers,
R.M., Mowday, R.T.& Shapiro, D.L (2004), “The future of work motivation
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of Management Review, Vol.29, No.3 pp.379-387)
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M.A.& Myers, R.M. (1998),” Motivation and Job Satisfaction” Journal of
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Decision, Vol. 29,No4. Pp 226-231
Wiley,
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Nelson,
B. (2001), “Motivate employees with intangible benefits”, Available at:
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Young,
B.C. (2000), “Methods of Motivating: Yesterday and Today” Available at:
“Employee relationship management” –Available at:
The Twelve Attributes of a Truly Great Place to Work- Available at:
