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Motivation and Job Satisfaction in the Banking Sector
The success of any organization relies much on the employees and the productivity of the employees. Members of staff who are highly motivated are the key to bringing in high performance to the organization hence there is a constant need to ensure that the spirits of the employees and their satisfaction are always high and that the employees find meaning and purpose in their obs.
As a manager of one of the branches of our bank, it is my duty to ensure that the employees under my jurisdiction are well motivated for me to post good results at the end of the year. Of critical concern to me at the moment is increasing the performance of the lending officers in my branch and also reducing the levels of absenteeism and the currently high turn over of the tellers.
The approaches that I intend to use are the intrinsic and extrinsic motivation methods that will ensure that there are significant changes within the aforementioned departments. The use of the two approaches is informed by the fact that the job satisfaction need of these two departments are different and even the manner and extent to which...
Extrinsic motivation is when an employee accepts to willfully complete a given assignment or task based on the promised reward once the task is well completed (Ryan R.M. & Deci E.L., 2000:Pp60). These may come in the form of salary increment, bonuses, the benefits attached to the position and vacation time among others. The tellers would be more motivated by this type of motivation since they do not have attachment to the clients who walk in and they get to serve them behind the counter for only a few minutes and they disappear for another month or so. There is little possibility that they will form attachment for their work and they often treat it casually hence the high turnover and high rates of absenteeism. I therefor intend to introduce a granted one week vacation time for any teller who maintains continuous reporting to work for four months. This will be coupled with $1,000 for the vacation of the employee. In order to counter the high turnover, I intend to introduce bonus for the tellers at the end of the year, particularly…
References
Cherry K, (2015). What Is the Difference Between Extrinsic and Intrinsic Motivation? Retrieved April 5, 2015 from http://psychology.about.com/od/motivation/f/difference-between-extrinsic-and-intrinsic-motivation.htm
Ryan R.M. & Deci E.L., (2000). Contemporary Educational Psychology: Intrinsic and Extrinsic Motivations: Classic Definitions and New Directions. Retrieved April 5, 2015 from http://www.self-determinationtheory.org/SDT/documents/2000_RyanDeci_IntExtDefs.pdf
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