Marketing research

Importance of Employee Motivation and the Factors InfluenceMarketing Research

Muhammad Zakaria

SP14-EX-0047

Sir Waqar Qadri

March 28, 2015 [ ]

ContentsExecutive Summary.....................................................................................................................................4

Chapter 1 - Introduction..............................................................................................................................5

Chapter 2 - Literature Review......................................................................................................................6

2.1. Employee Motivation.......................................................................................................................6

2.1.1. Job Satisfaction and Employee Turnover....................................................................................6

2.2. Company Profile – Faysal Bank Ltd...................................................................................................7

Chapter 3- Research Methodology..............................................................................................................9

3.1. Adopted Research Methodology......................................................................................................9

3.2. Data Collection.................................................................................................................................9

3.2.1 Secondary Data....................................................................................................................9

3.2.2 Primary Date........................................................................................................................9

3.2.3. Sampling....................................................................................................................................9

3.3. Limitation........................................................................................................................................10

4.2. Findings...........................................................................................................................................11

4.3. Discussion.......................................................................................................................................11

Chapter 5 - Conclusion..............................................................................................................................12

5.1. Conclusion......................................................................................................................................12

5.2. Recommendations..........................................................................................................................12

List of References......................................................................................................................................13

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Executive Summary

The main purpose for this research is the importance of employee motivation and

the factors influencing the job performance. There are so many reasons to impact the

motivation level of an employee satisfaction and dissatisfaction. The current research was

conducted to the employee of Faysal Bank Limited especially in Retail Banking Branches

what are the factors influencing to their daily work. Employee how can they motivated

themselves and what action can be taken by the management of the bank to motivated

their employee.

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Introduction

All organization has been recognized the Importance of motivation of employee. They also

Know if employees are motivated then the impact of work are natural thing and this is

Positive sign to growth of the organization. If organization wants to grow they should be

Make sure employee motivated and satisfied. If employee are motivated then every

Individual quality of work and performance increases which can be directly impact on their

Overall performance of the organization. Job satisfaction indicates that employees are

Motivated. This is not only the important factors but in the absence of this it can be effect

Overall organization performance. The main purpose of the Manager is how they

Motivate their employee in difference circumstances and take decision in a right manner.

This research has been conducted in different area branches like Nazimabad Area, Old City

Area and Defense Area branches. This research is based on literate and theory basis.

Findings and the results of the research in next chapter and also conclusion and

Recommendations are detailed explained

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Literature Review

2.1. Employee Motivation

Employee consistently performance is the very important key element to achieve the organization goal and this for only how manager can adopt various approaches that employees are motivated and deliver best to best on daily basis. Effective leadership and the right style of leadership can help in motivating employees that’s why researchers and investigators have been stressing on the selection of leadership technique Most popular leadership assumptions and their theories are also mentioned which they proposed. It has also been noted that the four essential emotional need or drives, to “acquire, bond, comprehend (satisfy our curiosity and master the world around us); and defend (protect against external threats and promote justice).

2.1.1. Job Satisfaction and Employee Turnover

Locke described job satisfaction as “…a pleasurable or positive emotional state resulting from the appraisal of one’s job or job experience (Locke, 1976, p. 1304). Also thought that when jobs are evaluated feelings and thinking both are concerned (Saari & Judge, 2004). study have exposed that there is a positive relationship between job satisfaction and employee’s performance and factors such as good working atmosphere, fair promotion, reasonable pay system and suitable work itself situation increases the level of job satisfaction (Nimalathasan &Brabete, 2011, p. 3). On the other hand there may be other factors present leading to job satisfaction. Study has also exposed that job dissatisfaction and lack of involvement in the job leads to an increase in the employee turnover (Lee, 1988). W. H. Mobley was the first person to explain the process of job dissatisfaction leading to employee turnover in 1977. There are seven stages which were proposed by Mobley of job dissatisfaction leading to employee turnover (Mobley, 1977):

i. the thought of quitting the job

ii. the intention to look for another job surfaces

iii. the employee then finally starts searching for an alternative job

iv. a comparison is then made between the current job and the alternative

v. an intention to quit the current job emerges after the comparison leading to

employee turnover

It can be said that there is a strong relationship between job dissatisfaction and employee turnover and Job dissatisfaction is the only one of the negative effect. Dissatisfaction of the employee is down the overall productivity of an organization and decreases the morale of the work force. According to Price’s preliminary causal turnover model, there are four main

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external influences have an essential impact on job satisfaction and employee turnover(Price, 1975). These factors comprise centralization, primary group, communication, and pay. (Price, 1975).

Figure 1 – Preliminary Causal Model of Turnover

According to the model, pay will only be an important determinant if it plays an important role in the employee’s life otherwise it will not have a significant impact on the satisfaction of an employee. Another variable defines the participation in an importance of kinship-type, main group, for instance, systems was highlighted by the Western Electric Research(Roethlisberger & Dickson, 1939). Message in the model refers to the flow of information in the organization between the members and the distribution of ideas; whereas centralization refers distribute the power in the organization (Price, 1975). It was assumed by Price, if the primary group participation and communication in an organization is high if that employee turnover is likely to be low. If employee turnover is high the negative impact may be to the organization.

2.2. Company Profile – Faysal Bank Ltd.

Faysal Bank Limited was incorporated in Pakistan on 3rd October 1994 as a public Limited company under the Companies Ordinance, 1984. Faysal Bank shares are listed on three stock exchanges Karachi, Islamabad and Lahore.

Faysal Bank is engaged in Conventional and Islamic business. Faysal bank has more than 270 branches in Pan Pakistan in 80 cities with total business assets more than PKR 350 Billion.

Currently Faysal Bank Limited placing amongst the Top ten banks in Pakistan. Faysal Bank’s ambition to provide excellence services to its customers while meeting their financial needs.

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Faysal Bank has a 3 fold objective in their processing of clientele.

Vision

Excellence in all that they do

Mission

Achieve leadership in providing financial services in chosen markets

through innovation.

Values

Team Work – Respect – Professionalism – Integrity

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Research Methodology

3.1. Adopted Research Methodology

Current research has adopted a qualitative research methodology as a Multi Method approach. Qualitative approach is suitable for this research as behavior and analysis of opinions that is descriptive in nature and depends on the researcher’s own understanding of data collected. This is a research that called Interpretative approach. There are two types of approaches are applied Inductive and Deductive. In this report Inductive approach has been used that may be defined as a SYSTEMATIC procedure for analyzing qualitative data where analysis is guided by specific objectives.

3.2. Data Collection

Collecting of data to conduct a research the most important part because all the analysis and assumptions are based on it. There are two type of sources Primary and Secondary. Data is collected first from secondary sources and bases on those findings than primary data were collected using an inductive approach. Primary data was collected through an interviewed from employee of FBL and secondary data was collected through different web site, articles etc. Current research makes both of primary and secondary data extract the results are more reliable and accurate.

3.2.1 Secondary Data – Websites, Articles, and collect from bank Infopedia are used

to collect the secondary data for the report on the behalf of primary data is

collected.

3.2.2 Primary Date– Interviewed with different staff members to collect the primary

data. Request to fill the questionnaire as per Appendix I.

3.2.3. Sampling

Sampling is the process of selecting a sample from the whole population that can be used to “fairly represent the population” (Freedman, 2010). Four type of sampling (1) simple, (2) systematic, (3) stratified, (4)clustered. For this research simple random sampling method has been used. Random sample of 20 out of 30 individuals were selected and they all were an employee at the organization. 10 Male and 10 Female individuals are included participants.

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Limitation

In this research we can use qualitative research methodology with descriptive

nature raise concerns regarding the researchers opinion and own understanding regarding

the research topic.

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Findings and Discussion

4.1. InterviewTo ascertain the level of job satisfaction of an average employee a questionnaire are designed. 30 questions are divided into three parts. The first part of the questionnaire is to dedicated to the general information and demographics of the interview. There are total 09 questions. Second part to evaluate the job satisfaction level with different aspects of job and there are total 15 questions. The last part made of seven questions that extract descriptive answers. All those questions are based on employee job satisfaction of the interview and the impact of the job on their well-being. The main purpose of the interview is to evaluate the level of satisfaction with one Job and a qualitative approach is applied for this purpose. Both open and closed ended questions for about 15 minutes. Purpose of this approach to ascertain and understand the different dimension of the problems

4.2. Findings

Interview is divided into three parts as well as findings are also divided into three parts to avoid any confusion. In first part Interview belonged to four different positions in the bank. One is Relationship Manager, Second is Branch Service Officer, third is Branch Service Manager and fourth is Service Ambassador. Minimum work experience is one to 1 year. Minimum age is 20 and maximum is 40.

In second part 50 % of the employees were satisfied with working hours and their current position and the rest of 50 % were unhappy about their salaries and time to time changing the management of the bank as well as different structure.

The last part of the interview extracts the result that above 60% of the employees agreed to enhance communication skills between the management, managers with the sub ordinates. The encourage to improve their communication skills like Professional.

4.3. Discussion

When the interviewed was conducted it was noted that environmental factors significantly distorted the reply of the employees as so many problems like law and order situation, electricity problems for three days during interview in different branches. Unequal job distribution is also part for this factor. Few employees are average distribution of work but some are overloaded. Some are very professional but some are UN professional. Some are getting handsome salary but some are getting less than their abilities. Some employee filled the questionnaire without any hesitation but some are feeling not confirmable. Few are mentioned their name but others were not interested. Few employees are unhappy with HR policy due to salaries structure, perks and allowance, Medical benefits, Allowances, Leaves, Job rotation. Some are unhappy because they are still on Third party contract but as per their abilities they should be on bank pay roll.

All above factors are played an important role in satisfaction of the employee.

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Chapter 5 - Conclusion

5.1. Conclusion

Conclusion is that the level of the employee motivation at FBL is not very high nor low. Though employees seems to be satisfied with vacations, working hours, benefits but others seems to be disturb to continuously changing the management and the structure. This changes can be negative impact to their customers and difficult to retain the customers. It was also noted that due to non-freedom of the environment few respondents are not freely answered the questions but some are don’t care and feel like a Professional and filled the questionnaire in front of the manager.

5.2. Recommendations

Increased Communication

Recommended that communication should be improved between the management and the employee of the bank. Customer service is also very important area need to be improved. Training of the employee is also very important key factors. Top management should be visit in branches specially HR managers to know the basic problems of an employee of the bank because branches of the bank are the Hub to generate the revenue of the bank.

Decentralization

Recommended that Online HR survey should be implemented by the third party with very confidential of the employee name. This type of survey is very important because management knows the employee problems on behalf of result of the neutral party. Because employees are playing an important role in an organization and organization only can achieved their goals if employees are motivated.

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List of References

Britten, N., Jones, R., Murphy, E., & Stacy, R. (1995). Qualitative research methods in general practice and primary care. Family Practice, 104-114.

Cohen, S., & Willis, T. A. (1985). Stress, social support, and the buffering hypothesis. Psychological Bulletin, 98, 310-357.

Freedman, D. A. (2010). Sampling. Retrieved September 28, 2010, from Department of Statistics: http://www.stat.berkeley.edu/~census/sample.pdf

Glazer, S., & Beehr, T. A. (2005). Consistency of implications of three role stressors across four countries. Journal of Organizational Behavior, 26, 467-487.

Lee, T. W. (1988). How job dissatisfaction leads to employee turnover . Journal of Business and psychology, 2(3), 263-271.

Locke, E. A. (1976). The nature and causes of job satisfaction. In M. D. Dunnette, Handbook of industrial and organizational psychology (pp. 1297-1349). Chicago: Rand McNally.

Miller, F. P., Vandome, A. F., & McBrewste, J. (2010). Maslow's Hierarchy of Needs. Alphascript Publishing.

Mobley, W. H. (1977). Intermediate linkages in the relationship between job satisfaction and employee turnover. Journal of Applied Psychology, Vol 62(2), 237-240.

Nimalathasan, B., & Brabete, V. (2011). Job satisfaction and employees work performace: A case study of people;s bank in Jaffna Peninsula, Sri Lanka. Jaffna Peninsula, Sri Lanka: University of Jaffna.

Nohria, N., Groysberg, B., & Lee, L.-E. (2008). Employee Motivation. Harvard Business review.

Price, J. L. (1975). A theory of turnover. In B. Pettman, Labor turnover and retention (pp. 51-75). Epping: Gower Press.

Roethlisberger, F., & Dickson, W. (1939). Management and teh worker. Cambridge: Harvard university Press.

Saari, L. M., & Judge, T. A. (2004). Employee attitude and job satisfaction. Human Resource management, 43(4), 395-407.

Smith, M. L. (1987). Publishing qualitative research. American Educational Research Journal, 173-183.

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Terry, D. J., Nielsen, M., & Perchard, L. (1993). Effects of work stress on psychological well-being and job satisfaction: The stress-buffering role of social support. Australian Journal of Psychology, 45(3), 168-175.

Thomas, D. R. (2003, August). A general inductive approach for qualitative data analysis. Retrieved September 28, 2010, from Faculty of Medical and Health Sciences: http://www.fmhs.auckland.ac.nz/soph/centres/hrmas/_docs/Inductive2003.pdf

Znaniecki, F. (1934). The method of sociology. New York: Farrar & Rinehart.

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Appendex

This questionnaire is designed by our group member’s students of Mohammad Ali Jinnah University for Academic Research. Main purpose of this research is Importance of Employee Motivation and factors influence.

Part I – General Questionnaire

1. Name: ____________________________________________

2. Age (1) 20-25 (ii) 26-30

(II )31-35 (IV) 36-40

3. Job Position

(1) Relationship Manager (II) Service Ambadasor

(III) Branch Service Officer (IV) Branch Service Manager

4. Gender (i) Male (II) Female

5. How long have you worked for this company?

(i) 1-3 Years (ii) 4 to 6 Years(ii) 7 to 10 Years

6. Are you satisfied with your current position?

(i) Yes (II) No

7. How long have you held your current position?

(i) 0-3 Years (ii) 4-6 Years (III) 7-10 Years

8. Has the organization been through any significant changes in the past?

_____________________________________________________________________

9. Briefly describe your work responsibilities (as you would on a resume):

_____________________________________________________________________

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Part II

What is you level of satisfaction with:

Strongly Agree

Agree Neutral Disagree

1. Your current job position

2. Working Hours

3. Environment

4. Training as per Job description

5. Support from your supervisor

6. Amount of paid vacation/sick leaves

7. Salary

8. Opportunities for promotion

9. Benefits

10. Job security

11. Recognition for work and accomplishment

12. Relationships with your co-workers

13. Relationship with your supervisor(s)

14. Job responsibilities

15. Opportunities to utilize your talents

16. Opportunities to learn

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Part III – Other aspects of job

2. Does your line manager communicate with the daily update within organization?

(i) Strongly Agreed (ii) Agreed (III) Disagreed

3. Are you clear about your role in the organization?


(ii) Do you believe that your skills are underutilized? Why?


4. Do you believe that you are expected to do more work than you can handle?


5. Have you noticed any change in your perception toward the organization since your

employment?

(1) Strongly Agreed (ii) Agreed (III) Disagreed

6. Do you find yourself stressed out at the end of the day?


7. Do you believe you’re happy with your job?


8. Are you satisfied with the way things are managed in the organization?


9. Does your supervisor considers your views and Ideas

Strongly Agreed (ii) Agreed (III) Disagreed

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Self Improvement

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