Professional Documents
Culture Documents
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INTRODUCTION
Motivation
Companies use both positive reinforcement and negative reinforcement to
motivate employees. Many managers believe that using positive motivation
techniques encourages employees to produce more and better quality work. For
example, some companies select an employee as "Employee of the Week." This
technique praises the winning employee, while positively encouraging other
employees to keep trying to do well. Other managers believe negative
reinforcement motivates employees to stop bad behavior. For example, a company
may issue a written-warning system, or threaten employees with termination to get
them to perform a certain way.
Rewards
Companies reward their employees with both tangible goods, as well as praise. For
example, a sales department may offer a monthly bonus to the highest earner. Not
all tangible rewards come in the form of money. Some companies host free
lunches, or give away company gear to good workers. Many managers choose to
reward their best employees by simply praising them for a job well done, or by
recognizing the hard work they put in to a project.
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Advantages
By using positive reinforcement to motivate employees, a manager may build a
good relationship with his employee that fosters a sense of trust. In a good
manager-subordinate relationship, employees may feel respected and comfortable
in their working environment. Providing rewards, both tangible and in the form of
praise, can make employees happier. Happier employees often perform better at
work.
Disdvantages
Using negative enforcement as a form of motivation could cause employees to
become dissatisfied with their jobs. Unhappy workers typically produce less
quality work, become sluggish or fail entirely to meet deadlines . Applying too
much motivation or offering too many rewards can also have a negative effect.
Employees can become over-confident. They may feel that they are the bosses'
favorite workers, even if they start to slack off on their projects or test the limits of
their working relationship with their supervisors.
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ROLE OF REWARD IN MATIVATING EMPLOYEES
Many employees are motivated by two goals: earning a paycheck and doing work
that makes them proud. The offer of an additional reward gives an employee that
extra motivation to go above and beyond. Some rewards may cost money, whereas
others are investments in time and effort. All can contribute to a more pleasant
work environment.
Incentive
Employees must know that hard work and a high level of achievement will be
rewarded financially. According to Microsoft's Business website, a policy that
offers incentives in exchange for achievement can motivate all employees to prove
their worth. When worker productivity goes up, the bottom line often increases far
in excess of the monetary rewards distributed.
Employee Retention
An employee who has been rewarded is often more motivated to remain with the
company. It can cost a business quite a bit to deal with the loss of old employees
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and the training of new ones. Rewards, given to employees who are considering
leaving the company, may increase your employee retention statistics and decrease
your long-term training costs.
Self-Motivation
A good manager can encourage an employee to work harder and better from time
to time, but a reward can go a long way toward building employee self-motivation.
According to Carter McNamara, writing for the Free Management Library, the
most effective rewards are tailored to an employee's needs. When deciding what
kind of rewards to give to employees, think of their needs. An employee with
children, for example, may be highly motivated to achieve more in the workplace
if you offer him additional time off to spend with his family.
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NON MONETARY REWARD SYSTEM
Purpose
Nonmonetary reward systems are meant to increase employee performance and
motivation and bolster self-esteem in the workplace. Nonmonetary reward systems
tend to increase productive competition among employees striving for the reward,
resulting in gains to the company's bottom line. To be effective, nonmonetary
reward systems must be fair to all employees and avoid favoritism. If employees
view the rewards as skewed or unattainable, they might lose motivation toward
their job and refuse to participate.
Benefits
Nonmonetary reward systems mostly benefit the culture of the company and the
company's bottom line. When rewards for performance are not based upon money,
the culture of a company tends to value recognition instead of the drive for money.
Simultaneously, companies that use nonmonetary reward systems spend less
money motivating their employees and more money on other areas of the business.
For instance, spending money on trips, bonuses, gift cards and any other monetary
reward takes money away from net profit.
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Disadvantages
High-performing employees that value money and other monetary perks might
find that nonmonetary reward systems lack the incentives needed to bolster
motivation and increase their productivity. Not all employees value handwritten
notes or walls that display the employee of the month. Some employees might also
feel that their company is not willing to pay for their hard work. Additionally, if a
competing business offers monetary rewards to its employees, the company that
offers nonmonetary rewards risks losing employees to the competition.
Examples
One of the simplest forms of nonmonetary rewards is public recognition for
company achievements. If an employee performs exceptionally well at her job, a
company can gather its workers around the employee for a round of applause in
her honor. The employee receives a boost of self-confidence for the gesture and
recognizes that her contribution makes a difference. Additionally, a company can
write letters of gratitude to employees, offer refreshments and create an employee
recognition wall.
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EMPLOYEE MOTIVATION
One of the major issues faced by human resource departments and specialists is
the issue of motivating employees. In the workplace, motivation is a primary
factor when it comes to getting work done. No matter how skilled the workers in
any specific department may happen to be, the goals of the supervisor will not
reach the desired levels of success and timeliness if the proper employee
motivation is not in place. But how, exactly, is motivation supposed to be instilled
in the work force? Is employees eagerness to get the job done a natural quality
that should be relied upon, or must employee motivation being structurally
imposed upon the workforce? Those are good questions that deserve a solid
understanding of how to proceed in order to find the answer that best fits your
human resource management scenario. In its capacity to answer these fundamental
questions, the task of any human resources specialist or team of consultants
becomes a bit complex. Thats because not every worker is the same. While some
have a self-starting approach to every job at hand, other employees may need an
extra nudge in the right direction before results can be expected. Fortunately,
however, employee motivation is proven to work in nearly every case when the
right stimuli are added into the mix. While the fast-acting techniques that are
known to motivate employees are most needed among those who require higher
levels of motivation in order to get work done, the practice of well-administered
and objective-producing incentive enhancement is actually well advised for
employee at all different levels of inherent motivation. Even the natural go-getters
respond well to motivation techniques. In fact, many of these employees have,
unfortunately, often been neglected as human resources, departments focused more
on those with lower levels of motivation. The outcome has been increased
frustration among those who give it their all but end up feeling as if theyve been
given the short end of the stick in return. Therefore, the best-applied motivation
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policy is universal. By creating a standardized, incentive-based system of rewards
for job performance, employees will, as a whole, generally respond quite well to
motivation for high level goals.
Motivation can have an effect on the output of your business and concerns both
quantity and quality. See it this way: your business relies heavily on the efficiency
of your production staff to make sure that products are manufactured in numbers
that meet demand for the week. If these employees lack the motivation to produce
completed products to meet the demand, then you face a problem leading to
disastrous consequences. The number of scenarios is extreme but you get the
general picture.
Your employees are your greatest asset and no matter how efficient your
technology and equipment may be, it is no match for the effectiveness and
efficiency of your staff.
Motiva0tion involves getting the members of the group to pull weight effectively,
to give their loyalty to the group, to carry out properly the purpose of the
organization. The following results may be expected if the employees are properly
motivated.
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3. The rates of labors turnover and absenteeism among the workers will be
low.
4. There will be good human relations in the organization as friction among
the workers
5. themselves and between the workers and the management will decrease.
6. The number of complaints and grievances will come down. Accident will
also be low.
7. There will be increase in the quantity and quality of products. Wastage and
scrap will be less. Better quality of products will also increase the public
image of the business.
Motivational Techniques
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1) Individual Financial Incentives:-
Performance based pay:-
Productivity:-
Co partnerships:-
Stock option:-
Under this scheme, employees are offered shares of a company in such a way that
they enjoy long-term benefits due to appreciation in share prices with the progress
of the company.
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Retirement Benefits:-
Under this scheme employee is given a certain percentage of his wages or salaries
after the retirement of employee from the job.
c) Gratuity:-
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Non-Financial Incentives:-
Though a man hankers after money and it is an important motivator, it is not the
only motivator and it is not always motivator. After satisfying primary and
secondary needs of a man and after raising his standard of living, it ceases to work
as a motivator. Its is observed that in spite of satisfying wage rate, bonus schemes
and retirement benefits may employees do not take interest in their work.
Promotion:-
If promotions to higher positions are given to employees on the basis of merit,
skill, sincerity and abilities employees strive hard to give what is best of them.
Thus promotions to de serving candidates motivates employees to higher their
performance.
Responsibility:-
People can also be motivated by entrusting them with higher responsibility. The
employees feel that the management has imposed its confidence in them and they
must prove to be worthy of such confidence by shouldering higher responsibility.
This assignment of higher responsibility also works as an incentive to individuals.
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employees to perform better. Job enlargement and job enrichment techniques make
the job more pleasant and interesting.
Recognition of work:-
A worker gets satisfaction when his work is appreciated by his superior. Praise,
acknowledgement and recognition for the work done is a strong motivation for the
employees. Praise can do what money cannot do Recognition means
acknowledgement with a show of appreciation. When such recognition is given to
the work performed, the employees feel motivated to perform work at similar or
even higher level.
Job-security:-
Employees with a sense of security of job show keen interest, enterprising
initiative and produce better results as they know that their welfare is closely
related to the welfare of the organization. They stop worrying and concentrate on
work.
Team spirit:-
Team work is a coordinated action by a comparative small group is regular spirit
where in members contribute responsibility and enthusiastically towards the team
task.
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Informal groups:-
When employees work together they develop a sort of affiliation among
themselves. They create some informal groups at work place.
Determinants of Motivation
The Individual: Human needs are both numerous and complex. Some of the
needs cannot be described and identified because people hide their real needs
under the cover of socially accepted behavior. Further, each person is different and
a variety of items may prove to be motivating, depending upon the needs of the
individual, the situation the individual is in and what rewards the individual
expects for the work done. It is the duty of the manager to match individual needs
and expectations to the type of rewards available in the job setting.
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The environment: A worker does not live in two separate worlds, one side
the factory and the other outside it. The troubles and pleasures of off-the-job life
cannot be put aside when reporting for work in the morning, nor can factory
matters be dropped when returning home after work. Culture, norms, customs,
images and attributes accorded by society to particular jobs, professions and
occupations and the workers home life- all play a strong motivational role. The
factors such as social status and social acceptance play an important role in
shaping the motivations of people.
1. Identification of need
2. Tension
3. Course of action
4. Result Positive/Negative
5. Feed back
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Objectives of Motivation
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Type of motivation
Monetary motivation
Overview: The value and importance of creativity has been well established in the
business world. The effective fostering of creativity, however, remains a somewhat
elusive goal for most organizations. Using the context of product design, we
examine three factors that are likely to have an important influence on the
creativity of new product ideas: intrinsic motivation, monetary rewards, and the
accessibility of creative thinking skills. We present and test a conceptual
framework explaining the differential and interactive influences of these factors on
the two essential components of creativity - the originality and the usefulness of
the end design. Further, we identify effort and enjoyment as two variables
mediating the effects of intrinsic motivation and monetary rewards on originality
and usefulness. The findings are integrated into a discussion that clarifies the role
of these factors in producing creative outcomes and highlights their potential in the
new product design process.
Conversely, if you want to give a very sincere gift that not only says thanks but
will help create the loyalty, dedication and motivation you would like your
employees to have, consider a gift or award that will touch them personally.
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Something they will truly enjoy and use or some thing that brings them pleasure in
their leisure or family time.
Please see What Employees Want on our main menu under Recognition for more
information on this subject.
The economic downturn has put a great deal of pressure on employers to find
creative ways to motivate employees. Gone are the days of quarterly bonuses,
performance-based pay raises, and other financial incentives that once kept noses
to the grindstone. Motivating without money is a challenging task, but it can be
done with the right combination of leadership and management skills.
While money is one of the proven ways to motivate employees, there are also
other ways to encourage your team to put their best foot forward. Here are three
non-monetary motivation techniques that are geared toward personal recognition
and satisfaction.
Paid Time Off
Your business expects to expend a certain number of dollars for payroll. One
method of non-monetary motivation is to create an incentive program that allows
employees to earn paid time off. For example, you could offer a paid day off to the
sales associate who generates the most revenue in the month of July. A paid day
off is a miniscule cost to your business, and it is one of the excellent ways to
motivate a sluggish sales staff.
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customer service, you might consider designated a special parking spot (one that is
close to the front door) to be awarded each month to an outstanding employee.
If you have a recently vacated corner office, you can host a contest to see who can
generate the most sales, who can go above and beyond the call of duty to solve a
problem, or who exhibits perfect attendance. These are simple events to
coordinate, and employees will enjoy the spirit of healthy competition. Having
access to special spaces on the company property enhances their feeling of
accomplishment. These types of rewards are fast and easy ways to start motivating
without money.
Nature of Motivation
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Based on the definition, we can derive its nature relevant for organizational
behavior. Following characteristics of motivation clarify its nature.
Based on motives:
Motivation is based on individuals motives which are internal to the individual.
These motives are in the form of feelings that the individual lacks something. In
order to overcome this feeling of lackness, he tries to behave in a manner which
helps in overcoming this feeling.
Affected by motivating:
Motivation is affected by way the individual is motivated. The act of motivating
channelizes need satisfaction. Besides, it can also activate the latent needs in the
individual, that is, the needs that are less strong and somewhat dormant, and
harness them in a manner that would be functional for the organization.
Goal-directed behavior:
Motivation leads to goal-oriented behavior. A goal-directed behavior is one which
satisfies the causes for which behavior takes place. Motivation has profound
influence on human behavior; in the organization context, it harnesses human
energy to organizational requirements.
Related to satisfaction:
Motivation is related to satisfaction. Satisfaction refers to the contentment
experiences of an individual which he derives of need fulfillment. Thus,
satisfaction is a consequence of rewards and punishments associated with past
experiences. It provides means to analyze outcomes already experienced by the
individual.
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A person is motivated in totality and not in part. Each individual in the
organization is a self-contained unit and his needs are interrelated. These affect
hiss behavior in different ways. Moreover, feeling of needs and their satisfaction is
a continuous process. As such, these create continuity in behavior.
Complex process:
Motivation is a complex process; complexity emerges because of the nature of
needs and the type of behavior that is attempted to satisfy those needs. These
generate complexity in motivation process in the following ways
b) Even if needs are identified, the problem is not over here as a particular need
may result into different behavior from different individuals because of their
differences. For example, the need for promotion may be uniform for different
individuals but all individuals may not engage in similar type of behavior; they
may adopt different routes to satisfy their promotion needs.
c) A particular behavior may emerge not only because of the specific need but it
may be because of a variety of needs. For example, hard work in the organization
may be due to the need for earning more money to satisfy physiological needs, or
may be to enjoy the performance of work itself and money becomes secondary or
to get recognition as a hard working person
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Motivation Concept
Some authors distinguish between two forms of intrinsic motivation: one based
on enjoyment, the other on obligation. In this context, obligation refers to
motivation based on what an individual thinks ought to be done. For instance, a
feeling of responsibility for a mission may lead to helping others beyond what is
easily observable, rewarded, or fun.
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Some authors distinguish between two forms of intrinsic motivation: one based
on enjoyment, the other on obligation. In this context, obligation refers to
motivation based on what an individual thinks ought to be done. For instance, a
feeling of responsibility for a mission may lead to helping others beyond what is
easily observable, rewarded, or fun.
A reinforce is different from reward, in that reinforcement is intended to create a
measured increase in the rate of a desirable behavior following the addition of
something to the environment.
Intrinsic Motivation
Intrinsic Motivation: Stems from the direct relationship between the worker and
the task and it is usually self-applied.
Intrinsic motivation occurs when people engage in an activity, such as a
hobby, without obvious external incentives.
In terms of sports, intrinsic motivation is the motivation that comes from inside
the performer. That is, the athlete competes for the love of the sport.
Extrinsic Motivation
Extrinsic Motivation: Stems from the work environment external to the task and it
is usually applied by someone other than the person being motivated, extrinsic
motivation comes from outside of the performer. Money is the most obvious
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example, but coercion and threat of punishment are also common extrinsic
motivations.
In sports, the crowd may cheer the performer on, and this motivates him or her to
do well. Trophies are also extrinsic incentives. Competition is often extrinsic
because it encourages the performer to win and beat others, not to enjoy the
intrinsic rewards of the activity; Social psychological research has indicated that
extrinsic rewards can lead to over justification and a subsequent reduction in
intrinsic motivation.
Coercion
The most obvious form of motivation is coercion, where the avoidance of pain or
other negative consequences has an immediate effect. Extreme use of coercion is
considered slavery. While coercion is considered morally reprehensible in many
philosophies, it is widely practiced on prisoners, students in mandatory schooling,
within the nuclear family unit (on children), and in the form of conscription.
Critics of modern capitalism charge that without social safety networks, wage
slavery is inevitable. However, many capitalists such as Ayn Rand have been very
vocal against coercion. Successful coercion sometimes can take priority over
other types of motivation. Self-coercion is rarely substantially negative (typically
only negative in the sense that it avoids a positive, such as undergoing an
expensive dinner or a period of relaxation), however it is interesting in that it
illustrates how lower levels of motivation may be sometimes tweaked to satisfy
higher ones.
Self-control
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definition (as measured by many intelligence tests), yet unmotivated to dedicate
this intelligence to certain tasks. Yale School of Management Professor Victor
Vroom's "expectancy theory" provides an account of when people will decide
whether to exert self control to pursue a particular goal.
Motivation at Workplace
Many business managers today are not aware of the effects that motivation can
(and does) have on their business, and it is therefore important they learn and
understand the factors that determine positive motivation in the workplace. The
size of your business is irrelevant: whether you are trying to get the best out of
fifty of your staff or just one, everyone needs some form of motivation. Motivation
is something that is approached differently by different businesses and the
responsibility of its integration lies with all immediate supervisors of staff.
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However, it is the business owner who must initiate motivation as a strategy to
attain corporate goals.
Motivating Employees
Unmotivated employees have rightly been called "the black holes of the business
universe." Fortunately, motivation is not something a person is born with or
without. Here are a few basics to try at your workplace to ensure that you are
doing everything you can to motivate your staff:
Ask: - Ask them how they like their job, they will tell you. If you notice a
reoccurring theme, you might want to address it.
Listen: - Dont just hear them talking. Active listening is a vital skill to the
survival of any workplace. The vast majority of resignations are a result of
employees not feeling appreciated.
Recognize Regularly: - Show them that you notice their hard work. Let them
know that you appreciate what theyve done, and do it publicly. People want
others to know when they have worked hard, because it gives them a feeling of
satisfaction to know that they had a hand in shaping the team's environment. It
also raises the bar for the rest of the team.
Dont Be Cheap: - Buy them something. It doesnt have to be expensive;
lunch will do in a pinch or doughnuts and coffee in the morning. If they perform
well, get them a gift certificate to the local mall, or their favorite video store.
Have A Little Fun: - Dont lock your ability to have fun behind your suits.
Let them play around a little. If it starts to get out of hand, thats why you are
there. Bring it back to being productive fun. Make a game out of accomplishing a
task, tape a picture of a dog driving a mini-van on someones computer screen.
Enjoy yourself; you spend more time at work than you do awake in your own
home. If you find a job you love, you will never work a day in your life.
Foster Friendly Competition: - Its in our genes. We need to compete against
one another, to prove to ourselves and everyone out there that we can do it, and do
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it the best. The Olympics are a good example, with the vast majority of the
countries on the face of the planet competing against one another.
Be Friendly With Everyone, But Dont Become Friends: - Favoritism is a
hard accusation to live down, especially if its true. Dont put yourself in a position
that could result in an environment of favoritism. Giving preferential treatment to
a person, on a non-work related basis, is unfair. Unfairness in the workplace leads
to turn-over.
Share: -Dont keep all the information to yourself. Let them know where they
stand often; this will keep them in the loop. One of the most common downfalls of
any organization is a lack of communication. Its tough trying to be motivated in
the face of goals that you cant measure.
Coach and Accept Coaching: - Nothing will take your legs out from under
you quicker than thinking you are doing a great job, only to find out later that you
arent. Also, dont make the mistake of thinking you always have the best idea.
When managers dont listen to their employees and include them in the action
planning process, they feel like their opinions dont matter. When your employees
feel like their opinions dont matter, start putting up the Now Hiring signs.
Everyone likes to feel like they can effect change, too.
Additional Responsibility: - There are definitely employees in your
organization who are begging for and can handle additional responsibility. Our job
as managers is to identify who they are and if possible match responsibilities to
their strengths and desires.
What do employees want from work? There are five factors that must be present in
your workplace for your employees to be happy and motivated at work. Your
employees need respect, to be members of the in-crowd, to impact decision
making about their jobs, to have the opportunity to grow and develop, and access
to reasonable leadership. The following describe what employees want from work
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Respect is the fundamental right of every employee in every workplace. If
people feel as if they are treated with respect, they usually respond with respect
and dignified actions. Part of respect is praise and feedback so people know how
they are doing at work.
Employees want to feel as if they are members of the in-crowd. This means
that they know and have access to information as quickly as anyone else in your
workplace.
Employees want to learn new skills, develop their capabilities, and grow
their knowledge and careers. Making developmental opportunities available to
each employee demonstrates your commitment to helping them develop their
careers. They appreciate this.
Employees want to have an impact on decisions that are made about their
jobs. Employee involvement and employee empowerment help to create engaged
employees willing to put forth their discretionary energy for the business.
Employees do want leadership. They want a sense of being on the right
track, going somewhere that has been defined and is important. They like being
part of something bigger than themselves. Employees like to know that someone,
who is trustworthy, is in charge.
There are two main causes of performance problems. The first has to do with
employee characteristics. Employee performance is based on the following:
employee skill levels, motivation, ability, training, and other factors that "belong"
at least in part, to the employee.
The second type of cause has to do with the system in which work is done. In this
category are included: managerial behavior, allocation of resources, the effects of
colleague behavior, and a wide range of variables that are, by and large, beyond
the control of the individual employee.
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When trying to identify the causes of poor employee performance it's absolutely
critical that both kinds of causes be examined. Even something like "poor
employee motivation", something that would appear on the surface to be related to
employee characteristics, is heavily influenced by the work environment. A work
environment can be frustrating or demoralizing, so apparent poor employee
motivation can itself be caused by a poor working environment.
There is an old saying you can take a horse to the water but you cannot force it to
drink; it will drink only if it's thirsty - so with people. They will do what they want
to do or otherwise motivated to do. Whether it is to excel on the workshop floor or
in the 'ivory tower' they must be motivated or driven to it, either by themselves or
through external stimulus. Are they born with the self-motivation or drive? Yes
and no. If no, they can be motivated, for motivation is a skill which can and must
be learnt. This is essential for any business to survive and succeed.
Ability in turn depends on education, experience and training and its improvement
is a slow and long process. On the other hand motivation can be improved quickly.
There are many options and an uninitiated manager may not even know where to
start. As a guideline, there are broadly seven strategies for motivation.
There are broadly seven strategies for motivation.
Bernard in Stoner, et al. (1995) accords dye recognition to the workers saying that,
the ultimate test of organizational success is its to create values sufficient to
compensate for the burdens imposed upon resources contributed.Bernard looks at
workers, in particular librations, in an organized endeavor, putting in time era of
the information superhighway, employers of information professionals or
librarians must be careful to meet their needs. Otherwise, they will discover they
are losing their talented and creative professionals to other organizations who are
ready and willing t meet their needs and demands. The question here is what
strategies can used to motivate information professionals, particularly librations?
The following are strategies:
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Money: Akintoye (2000) asserts that money remains the most significant
motivational strategy. As far back as 1911.Frederick Taylor and his scientific
management associate described money as the most important factors in
motivating the industrial workers to achieve greater productivity. Taylor advocated
the establishment of inventive wage systems as a means of stimulating workers to
higher performance, commitment, and eventually satisfaction. Money possesses
significant motivating power in as much as it symbolizes intangible goals like
security, power prestige, and a feeling of accomplishment and success. Katz, in
Sinclair,et al.(2005) demonstrates the motivational power of money through the
process of job choice. He explains that money has the power to attract, retain, and
motivate individuals towards higher performance. For instance, if a librarian or
information professional has another job offer which has identical job
characteristics with his current job, but greater financial reward, that warder would
in all probability be motivated to accept the new job offer. Banjoko(1996)states
that many managers use money to Reward or punish workers .This is done through
the (e.g., premature retirement due to poor performance).The desire to be
promoted and earn enhanced pay may also motivate employees.
Staff Training: No matter how automated an organization or a library may
be, high productivity depends on the level of motivation and the effectiveness of
the workforce. Staff training is indispensable is an indispensable strategy for
motivating worker. The library organization must have good training programmed.
This will give the librarian or information professional opportunities for self-
improvement and development to meet the challenges and requirements of new
equipment and techniques of performing a task
Information Availability and Communication: One way managers can
stimulate motivation is to give relevant information on the consequences of their
action on others (Olajide, 2000).To this researcher it seems that there is no known
organization in which communicate, cooperate, and collaborate with one another.
Information availability brings to bear a powerful peer pressure, where two or
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more people running together will runners. By sharing information, subordinates
compete with one another. Studies on work motivation seem to confirm that it
improves workers performance and satisfaction. For example, Brown and
Shepherd (1997) examine the characteristics of the work of teacher-librarians in
four major categories: Knowledge base, technical skills, values, and beliefs. He
reports that they will succeed in meeting this challenge only if they are motivated
by deeply-held values and beliefs regarding the development of a shared vision.
Vinokur, jayarantne, and Chess (1994) examine agency-influenced work and
employment conditions and asses their impact on social workers job satisfaction.
While Colvin (1998) shows that financial incentives will get people to do more of
what they are doing, Silverthorne (1996) investigates motivation and managerial
styles in the private and public sector. The results indicate that there is a little
difference between the motivation needs of public and private sector employees,
managers, and non-managers.
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Minimize Rules and Policies
The first step in creating a motivating work environment is to stop taking actions
that are guaranteed to demotivate people. Identify and take the actions that will
motivate people. Its a balancing act. Employers walk a fine line between meeting
the needs of the organization and its customers and meeting the needs of its
internal staff. Do both well and thrive.
Weve got employees who, left to their own devices, will choose to do bad things.
You cant trust supervisors to treat employees fairly and consistently either.
Employee performance reviews are typically the most dreaded task of managers.
The new approach is for transparency and providing an ongoing conversation with
employees on how their performance has a direct effect on the organization's
overall performance.
Step 1
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Step2
Step4
Employee recognition
Employee recognition is not just a nice thing to do for people. Employee
recognition is a communication tool that reinforces and rewards the most
important outcomes people create for your business. When you recognize people
effectively, you reinforce, with your chosen means of recognition, the actions and
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behaviors you most want to see people repeat. An effective employee recognition
system is simple, immediate, and powerfully reinforcing.
When you consider employee recognition processes, you need to develop
recognition that is equally powerful for both the organization and the employee.
You must address five important issues if you want the recognition you offer to be
viewed as motivating and rewarding by your employees and important for the
success of your organization.
Page 36
SECTOR PROFILE
Page 37
BANKING IN INDIA
Banking in India originated in the last decades first banks were The General Bank
of India, which started in 1786, and Bank of Hindustan, which started in 1770;
both are now defunct. The oldest bank in existence in India is the State Bank of
India, which originated in the Bank of Calcutta in June 1806, which almost
immediately became the Bank of Bengal. This was one of the three presidency
banks, the other two being the Bank of Bombay and the Bank of Madras, all three
of which were established under charters from the British East India Company. For
many years the Presidency banks acted as quasi-central banks, as did their
successors. The three banks merged in 1921 to form the Imperial Bank of India,
which, upon India's independence, became the State Bank of India in 1955.
HISTORY
Indian merchants in [Calcutta] established the Union Bank in 1839, but it failed in
1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank,
established in 1865 and still functioning today, is the oldest Joint Stock bank in
India.(Joint Stock Bank: A company that issues stock and requires shareholders to
be held liable for the company's debt) It was not the first though. That honor
belongs to the Bank of Upper India, which was established in 1863, and which
survived until 1913, when it failed, with some of its assets and liabilities being
transferred to the Alliance Bank of Simla.
Foreign banks too started to app, particularly in Calcutta, in the 1860s. The
Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another
in Bombay in 1862; branches in Madras and Pondicherry, then a French colony,
followed. HSBC established itself in Bengal in 1869. Calcutta was the most active
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trading port in India, mainly due to the trade of the British Empire, and so became
a banking center.
The first entirely Indian joint stock bank was the Oudh Commercial Bank,
established in 1881 in Faizabad. It failed in 1958. The next was the Punjab
National Bank, established in Lahore in 1895, which has survived to the present
and is now one of the largest banks in India.
Around the turn of the 20th Century, the Indian economy was passing through a
relative period of stability. Around five decades had elapsed since the Indian
Mutiny, and the social, industrial and other infrastructure had improved. Indians
had established small banks, most of which served particular ethnic and religious
communities.
The presidency banks dominated banking in India but there were also some
exchange banks and a number of Indian joint stock banks. All these banks
operated in different segments of the economy. The exchange banks, mostly
owned by Europeans, concentrated on financing foreign trade. Indian joint stock
banks were generally under capitalized and lacked the experience and maturity to
compete with the presidency and exchange banks. This segmentation let Lord
Curzon to observe, "In respect of banking it seems we are behind the times. We are
like some old fashioned sailing ship, divided by solid wooden bulkheads into
separate and cumbersome compartments."
The period between 1906 and 1911, saw the establishment of banks inspired by the
Swadeshi movement. The Swadeshi movement inspired local businessmen and
political figures to found banks of and for the Indian community. A number of
banks established then have survived to the present such as Bank of India,
Page 39
Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank
of India.
During the First World War (19141918) through the end of the Second World
War (19391945), and two years thereafter until the independence of India were
challenging for Indian banking. The years of the First World War were turbulent,
and it took its toll with banks simply collapsing despite the Indian economy
gaining indirect boost due to war-related economic activities.
POST-INDEPENDENCE
The partition of India in 1947 adversely impacted the economies of Punjab and
West Bengal, paralyzing banking activities for months. India's independence
marked the end of a regime of the Laissez-faire for the Indian banking. The
Government of India initiated measures to play an active role in the economic life
of the nation, and the Industrial Policy Resolution adopted by the government in
1948 envisaged a mixed economy. This resulted into greater involvement of the
state in different segments of the economy including banking and finance. The
major steps to regulate banking included:
The Reserve Bank of India, India's central banking authority, was established in
April 1934, but was nationalized on January 1, 1949 under the terms of the
Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b).[1]
Page 40
In 1949, the Banking Regulation Act was enacted which empowered the Reserve
Bank of India (RBI) "to regulate, control, and inspect the banks in India".
The Banking Regulation Act also provided that no new bank or branch of an
existing bank could be opened without a license from the SBI, and no two banks
could have common directors.
NATIONALISATION:
Despite the provisions, control and regulations of Reserve Bank of India, banks in
India except the State Bank of India or SBI, continued to be owned and operated
by private persons. By the 1960s, the Indian banking industry had become an
important tool to facilitate the development of the Indian economy. At the same
time, it had emerged as a large employer, and a debate had ensued about the
nationalization of the banking industry. Indira Gandhi, then Prime Minister of
India, expressed the intention of the Government of India in the annual conference
of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank
Nationalisation."[2] The meeting received the paper with enthusiasm.
Thereafter, her move was swift and sudden. The Government of India issued an
ordinance ('Banking Companies (Acquisition and Transfer of Undertakings)
Ordinance, 1969')) and nationalised the 14 largest commercial banks with effect
from the midnight of July 19, 1969. These banks contained 85 percent of bank
deposits in the country[2]. Jayaprakash Narayan, a national leader of India,
described the step as a "masterstroke of political sagacity." Within two weeks of
the issue of the ordinance, the Parliament passed the Banking Companies
(Acquisition and Transfer of Undertaking) Bill, and it received the presidential
approval on 9 August 1969.
A second dose of nationalization of 6 more commercial banks followed in 1980.
The stated reason for the nationalization was to give the government more control
of credit delivery. With the second dose of nationalization, the Government of
Page 41
India controlled around 91% of the banking business of India. Later on, in the year
1993, the government merged New Bank of India with Punjab National Bank. It
was the only merger between nationalized banks and resulted in the reduction of
the number of nationalised banks from 20 to 19. After this, until the 1990s, the
nationalised banks grew at a pace of around 4%, closer to the average growth rate
of the Indian economy.
LIBERALIZATION
In the early 1990s, the then Narasimha Rao government embarked on a policy of
liberalization, licensing a small number of private banks. These came to be known
as New Generation tech-savvy banks, and included Global Trust Bank (the first of
such new generation banks to be set up), which later amalgamated with Oriental
Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC
Bank. This move, along with the rapid growth in the economy of India, revitalized
the banking sector in India, which has seen rapid growth with strong contribution
from all the three sectors of banks, namely, government banks, private banks and
foreign banks.
The next stage for the Indian banking has been set up with the proposed relaxation
in the norms for Foreign Direct Investment, where all Foreign Investors in banks
may be given voting rights which could exceed the present cap of 10%,at present
it has gone up to 74% with some restrictions.
Page 42
COMPANY PROFILE
Page 43
COMPANY PROFILE
Deutsche Bank is a leading global investment bank with a strong and profitable private
clients franchise. A leader in Germany and Europe, the Bank is continuously growing in
North America, Asia and key emerging markets. With more than 78,000 employees in
over 70 countries worldwide, Deutsche Bank offers unparalleled financial services
throughout the world. The Bank competes to be the leading global provider of financial
solutions for demanding clients creating exceptional value for its shareholders and
people.
Over the years, recognition of our performance has come in the form of various awards
which include:
Best Sub-Custodian India 2009 - The Asset
Best Bank in India 2008 - The Asset
Best Equity House in India 2008 - The Asset
Best Cash Management Specialist 2008 - The Asset
Best Private Bank in India 2008 - Asiamoney
Financial Express Award for Growth 2008 & 2007 - Financial Express
Page 44
PRODUCTS AND SERVICES
Page 45
VISION
BRAND
Deutsche is clear: we are here to perform in business and beyond. We do this
with a unique mix of passion and precision. This measured approach gives us the
confidence to enable agile minds to look beyond the obvious, gaining advantage
for everyone we work with.
Strong brands evoke strong emotions. Today everyone looks for personality in
business, for the same reasons they look for it in people. It helps us decide who we
trust, who we admire and who wed like to work with.
Our claim has always been much more than a marketing slogan or advertising
strapline. It defines our attitude and will continue to do so. It carries an inclusive
proposition: performance represents all that we do for our clients, not just bottom-
line results. Visually, we say it with more conviction, with more passion, in a new
handwritten style.
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OUR PERSONALITY
Passionate
Our passion is the passion to perform as one bank.
The trust people place in us is based on our passion as individuals we
each make a difference.
Thats why to us at Deutsche, Passion to Perform is more than just a claim
it is the way we do business.
Precise
As a German global brand, a desire for accuracy, thoroughness and quality
runs through our organization.
We understand issues in depth. This is why we keep things simple and
clear.
The pursuit of excellence is a cornerstone of who we are and underpins
everything we do.
The unique mix of passion and precision is behind Deutsches stability and
performance.
Confident
Our confidence is supported by our meritocratic tradition and culture.
Our confidence makes us a reliable partner for people with ambitious goals
in business and beyond.
Based on our leadership and beliefs, we build social capital.
Page 47
Agile-minded
At Deutsche, agile minds are at the heart of all performance. We are open-
minded and embrace change in a globalised world.
As we constantly challenge the status quo, we value the differences that make a
difference.
We recognize innovations social value to gain advantage for everyone we
work with.
BANKS PROMISE
What our stakeholders can expect from our brand:
Excellence
In idea origination and execution, in advice, product and service, delivering one
bank with all its resources and capabilities
Responsibility
Acting today, thinking about tomorrow, demonstrating transparency and leadership
Page 48
AWARDS
The FX trading platform is accessible through Deutsche Banks Autobahn App Market.
The platform is the first App-based electronic client offering in the financial services
industry. It acts as a central access point to the banks full suite of electronic services as
well as research, real-time market commentary, charting applications, analytics and
market data.
Page 49
OBJECTIVES OF THE
STUDY
Page 50
OBJECTIVES OF THE STUDY
Page 51
RESEARCH
METHODOLOGY
Page 52
RESEARCH METHODOLOGY
MEANING OF RESEARCH
Research includes any gathering of data, information and facts for the
advancement of knowledge. Research must be systematic and follow a series of
steps and a rigid standard protocol. These rules are broadly similar but may vary
slightly between the different fields of science.
Analysis of past data a helps the management of the company to plan its future
polices according to the external environment. Based on this, study has been taken
up financial analysis of the company. Any sound research must have a proper
design to achieve the required result, this study id constructed on the basis of
descriptive design.
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TYPES OF RESEARCH
Descriptive : Descriptive Research includes survey and fact finding enquiries of
different kinds.
RESEARCH DESIGN
A research design is the arrangement of conditions for collection and analysis of
data in a manner that aims to combine relevance to the research purpose with
economy in procedure.In fact the research design is a conceptual structure within
which the research is conducted It constitute the blue print for the collection,
measurement and analysis of data. Decisions regarding what, when, where, how
much, by what means concerning an inquiry or research study constitute a
research design. Research design is needed because it facilitates the smooth sailing
of the various research operations thereby making research as efficient as possible
yielding maximal information with minimal expenditure of effort, time and
money.
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In this study both Primary and Secondary Data has been used.
SAMPLE DESIGN
This project is special in nature and therefore method used for sample technique in
convenient sampling method. The method used for sample technique was
convenience sampling method. This method was used because it was not know
previously as to whether a particular person will be asked to fill the questionnaire.
Convenient sampling is used because only those people were asked to fill the
questionnaires who were easily accessible and available to the researcher.
SAMPLE SIZE
100 respondents
TOOLS OF ANALYSIS
I have used Structured Questionnaire Method. Some of the softwares used for
making this project will be Ms Word and Ms Excel.
LIMITATIONS
1. The respondents were limited and cannot be treated as the whole population.
2. The respondents may be biased.
3. The accuracy of indications given by the respondents may not be consider
adequate
4. Inspite of precautions taken there are certain procedural and technical
limitations.
5. Lack of sufficient time to exhaust the detail study of the above topic became a
hindering factor in my research.
6. Resources were limited.
7. Respondents are not willing to respond properly.
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DATA ANALYSIS
&
INTERPRETATION
Page 56
DATA ANALYSIS & INTERPRETATION
Q1. Since how many years you have been working in Deutsche Bank?
Options No. of Respondents Percentage of Respondents
0-5 Years 2 4
5-10 Years 9 18
10-15 Years 15 30
More than 15 Years 24 48
Interpretation:
18% respondents who are working in Deutsche Bank have 5-10 years experience ,
30% of the respondents have been working in Deutsche Bank from 10-15 years,
48% of the respondent employees are working in Deutsche Bank for more than 15
years.
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Q2. Rate your level of satisfaction with the working culture of the organization?
Options No. of Percentage of
Respondents Respondents
Highly Satisfied 2 4
Satisfied 25 50
Average 17 34
Dissatisfied 4 8
Highly Dissatisfied 2 4
Interpretation:
50% of the respondents are satisfied with the working culture of the organization,
Only 4% of the respondent employees are highly satisfied, 34% of the respondents
are neither satisfied nor dissatisfied with the working culture of the organization.
This shows overall employees are satisfied with working culture of the
organization.
Q3. Rate the statement Top Management is interested in motivating the
employees?
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Options No. of Respondents Percentage of Respondents
Strongly Agree 18 36
Agree 14 28
Neutral 13 26
Disagree 2 4
Strong Disagree 3 6
Interpretation:
More than 60% of the respondent employees were agreed with the statement
which shows that Top Management is interested in motivating the employees.
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Q4. Which type of rewards motivates you more ?
Options No. of Respondents Percentage of Respondents
Awards & Recognition 25 50
Promotion 05 10
Appreciation letters 20 40
Interpretation:
50% of the respondents say that awards and recognition motivates them more and
only 10% of the respondents are motivated by promotions. Ironically 40% of the
respondents favoured appreciation letters for increasing their motivation level.
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Q5. How far you are satisfied with the reward system of the Organization?
Options No. of Respondents Percentage of Respondents
Highly Satisfied 16 32
Satisfied 30 60
Dissatisfied 0 0
Highly Dissatisfied 4 8
Interpretation:
Most of the respondents are satisfied with the reward system of the organization.
Only 32% of the respondents are satisfied with the incentives provided by
organization.
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Q6. Please provide the following rates ?
i. Non Monetary Rewards system of the organization for motivating
employees is good
Options No. of Respondents Percentage of Respondents
Strongly Agree 18 36
Agree 30 60
Neutral 0 0
Disagree 2 4
Strongly Disagree 0 0
Interpretation:
Most of the respondents are satisfied with the non monetary reward system of the
organization in motivating employees.
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ii. Monetary Reward System of the organization for motivating employees
is good.
Options No. of Respondents Percentage of Respondents
Strongly Agree 36 72
Agree 10 20
Neutral 4 8
Disagree 0 0
Strongly Disagree 0 0
Interpretation:
Most of the respondents were satisfied with the monetary reward system of the
organization in motivating employees.
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iii. Effective promotional opportunities in the Deutsche Bank
Options No. of Respondents Percentage of Respondents
Strongly Agree 4 8
Agree 25 50
Neutral 4 8
Disagree 13 26
Strongly Disagree 4 8
Interpretation:
More than 50% of the respondents say that Deutsche Bank has effective
promotional opportunities.
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iv. Organization recognize and acknowledge your work.
Options No. of Respondents Percentage of Respondents
Strongly Agree 8 16
Agree 20 40
Neutral 14 28
Disagree 3 6
Strongly Disagree 5 10
Interpretation:
Most of the respondents say that organization Recognize and acknowledge their
work.
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v. Organizational Policies motivates for achieving its aims and objectives
Options No. of Respondents Percentage of Respondents
Strongly Agree 11 22
Agree 25 50
Neutral 12 24
Disagree 2 4
Strongly Disagree 0 0
Interpretation:
Most of the respondents say that Organizational policies motivates for achieving
its aims and objectives.
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Q7. Which of the following factors which motivates you most ?
Options No. of Respondents Percentage of Respondents
Salary Increase 18 36
Promotion 10 20
Leave 4 8
Motivational talks 6 12
Recognition 12 24
Interpretation:
36% of the respondents say that they were motivated by increase in salary, 20% of
the respondents were motivated by promotion, 8% of the respondents were
motivated by leave, 12% of the respondents of the respondents were motivated by
motivational talks and 24% of the respondents say that they were motivated by
recognition of their effort.
Q8. Do you think that reward and recognition schemes will influence your
performance?
Options No. of Respondents Percentage of Respondents
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Influence 36 72
Does not influence 4 8
No Opinion 10 20
Interpretation:
Most of the respondents say that rewards and recognition system will influence
their performance.
Page 68
OBSERVATIONS
&
FINDINGS
Page 69
OBSERVATIONS & FINDINGS
18% respondents who are working in Deutsche Bank have 5-10 years
experience , 30% of the respondents have been working in Deutsche Bank
from 10-15 years, 48% of the respondent employees are working in Deutsche
Bank for more than 15 years.
50% of the respondents are satisfied with the working culture of the
organization, Only 4% of the respondent employees are highly satisfied, 34%
of the respondents are neither satisfied nor dissatisfied with the working
culture of the organization. This shows overall employees are satisfied with
working culture of the organization.
More than 60% of the respondent employees were agreed with the statement
which shows that Top Management is interested in motivating the employees.
50% of the respondents say that awards and recognition motivates them more
and only 10% of the respondents are motivated by promotions. Ironically 40%
of the respondents favoured appreciation letters for increasing their motivation
level.
Most of the respondents are satisfied with the reward system of the
organization. Only 32% of the respondents are satisfied with the incentives
provided by organization.
Most of the respondents are satisfied with the non monetary reward system of
the organization in motivating employees.
Most of the respondents were satisfied with the monetary reward system of the
organization in motivating employees.
More than 50% of the respondents say that Deutsche Bank has effective
promotional opportunities.
Most of the respondents say that organization Recognize and acknowledge
their work.
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Most of the respondents say that Organizational policies motivates for
achieving its aims and objectives.
36% of the respondents say that they were motivated by increase in salary,
20% of the respondents were motivated by promotion, 8% of the respondents
were motivated by leave, 12% of the respondents of the respondents were
motivated by motivational talks and 24% of the respondents say that they were
motivated by recognition of their effort.
Most of the respondents say that reward and recognition system will influence
their performance.
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CONCLUSION
&
SUGGESTIONS
Page 72
CONCLUSION
It was found that monetary and non monetary reward system of the bank is
effective in motivating employees. It was also found that Employees motivation
level is high in Deutsche Bank.
It was also found that organization recognize and acknowledge their work.
Incentives and rewards. Most of the respondents are satisfied with the reward
system of the organization. Most of the respondents say that incentives and reward
system will influence their performance. Organizational policies motivates for
achieving its aims and objectives.
Page 73
SUGGESTIONS
Page 74
BIBLIOGRAPHY
Page 75
REFERENCES
Books:
Mamoria, C.B.(1999): Personal Management Himalaya Publication, New
Delhi.
Diwedi, R.S. (1997): Managing Human Resource Galgotia Publishing Ltd,
New Delhi.
Kothari, C.R. (2000): Research Methodology Vishwa Prakashan, New Delhi.
Casio, Wayne F. (1995) Managing Human Resources , 3 rd Edition, Tata
Mcgraw Hill, New Delhi.
Sainy H.C. and Kumar Sharad, Human Resources Management and
Development, Quality Publishing Company.
Robbins Stephen P. (1987) The Management of Human Resource, 4 th Tata
Mcgraw Hill, New Delhi.
Aswathapa K. (1997) Human Resource and Personnel Management, Tata
Mcgraw Hill, New Delhi.
Websites
www.db.com
Page 76
ANNEXURE
Page 77
QUESTIONNAIRE
Name Age :
Address Sex : M / F
Q1. Since how many years you have been working in Deutsche Bank?
a. 0-5 Years b. 5-10 Years
c. 10-15 Years d. More than 15 Years
Q2. Rate your level of satisfaction with the working culture of the organization?
a. Highly Satisfied b. Satisfied
c. Average d. Dissatisfied
e. Highly Dissatisfied
Q5. How far you are satisfied with the reward system of the Organization?
a. Highly Satisfied b. Satisfied
c. Dissatisfied d. Highly Dissatisfied
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iii. Effective promotional opportunities in the Deutsche Bank
a. Strongly Agree b. Agree
c. Neutral d. Disagree
e. Strong Disagree
Q8. Do you think that reward system and incentives will influence your
performance ?
a. Influence b. Does not influence
c. No Opinion
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