Staff motivation in Indian banks - Free Essay Example

Sample details Pages: 10 Words: 2850 Downloads: 6 Date added: 2017/06/26 Category Marketing Essay Type Narrative essay Did you like this example? Introduction Organizations survive, grow and make profits by selling products and/or services to people or other businesses. Ever changing economic environment and globalization have forced the organizations to continually update with the changing demands of the consumers. The changing nature of this environment and competitive industry has forced Indian banks to constantly provide quality services to its clients. Don’t waste time! Our writers will create an original "Staff motivation in Indian banks" essay for you Create order The performance of the banks largely depends on the quality of service as in how well they sell their financial packages or provide services. It can only be done if the banks have trained, skilled experienced, professional, enthusiastic and highly motivated employees. Organizations such as banks need to motivate employees for the simple reason of survival and growth. Businesses need to earn revenue and they can only achieve that if the employees are willing to work effectively. Banking industry has always been in search of highly motivated staff especially in the rapidly changing working environments because employees work more productively and assist banks thrive and compete in the fiercely competitive environment. One significant question that this research will answer is how the bank management can motivate employees and what benefit it can get from the motivated staff. Its the responsibility of the management how it carries out bank operations, how it understands employees needs and what factors or conditions motivates them more in the context of their roles. Employee motivation is arguably the most complex out of all the management functions partly because what motivates employees, changes constantly. The last decade or so has seen a lot of advancement in banking procedures, functions and operations especially in the technology side. Banks have made important updates and developed the financial packages and services accordingly. But still many Indian banks need to understand what good is a full menu of financial products and services if the bank cant sell them? And they can only do that if employees work effectively. By motivating bank staff, the banks can meet customers evolving needs. In this research proposal, the researcher has overviewed the whole dissertation structure he has in mind. Aims and objectives are laid along with the research question. The following proposal just highlights what the researcher is planning to do. This will be updat ed with the time after taking into consideration supervisors comments and suggestions. Research Significance/Problem Identification In spite of the importance of the topic, most of the research on motivation of employess in Indian banks is theoretical. There has been little attention given on the research on how to motivate bank employees and what are the impacts of different types of motivation. Additionally it is hard to gather data or research regarding motivation or any other topic for banks in Delhi region. Even though numerous organisations such as banks motivate staff to work efficiently little has been aimed to motivate employees in the need for a better overall bank performance and efficiency. Performance based banking sector and continuously changing environment of banking industry are affecting the ways the banks operate and this leads to the fact that banks require employees with a high level of skill that is attained by continuous on the job development and other means of training. It is imperative to believe that an employee can perform well without the proper training and motivation. In business management studies, motivating the employees as a topic is increasingly affecting the management line and has one of the most significant subjects. This in the context of banks is much related and they need to take up motivation and training need of the employees as a primary requisite in their operations. Research Question How employee motivation and motivational factors can affect performance of Indian banks? For this purpose, the researcher has narrowed the research down to 2 banks, ICICI and HDFC bank (both main branches) in Delhi region. Research Aim To study the significance of motivation and effects of motivational factors on the employees performance in HDFC Bank and ICICI Bank, Delhi, India. Objectives To obtain and critically analyze the available literature on motivation and related issues. To assess the bank employees needs and examine the motivating factors? To determine the extent motivation affects performance of an employee, his development and performance, by interviewing management and questioning employees. To perform a comparative analysis of HDFC Bank and ICICI Bank based on the findings. To critically examine and analyze the results and conclude with recommendations to the management. Literature Review Motivation stands as one of the most interesting topics in the social-science studies. According to Armstrong (2010), a number of academic researchers have made considerable efforts developing a master theory of motivation, trying to incorporate various characteristics to the concept. Scholars from HRM background normally try to link secondary concepts and describe work motivation as a unifying topic. Armstrong (2010) has well established the linkage between performance, job satisfaction and work motivation. Many academics such as Mullins (2007) and Dickinson (2009) have examined and explained the motivation basis; though ignoring understanding of individual differences. According to Gillens (2006) work psychology, researchers have long attempted to understand the factors that influence motivation. These theories propel the modern day organizations to achieve better organizational results through motivating their employees. Motivation is considered the driving force behind employee s actions (Ellis, 2005). Milne in 2007 argues that the force that derives individuals to achieve personal and professional objectives is motivation. What a bank wants to achieve from the motivation its providing to its employees has to be decided by the bank. Researcher such as Latham (2007), state that the banks objectives must be realistic and attainable for both the bank and its staff. Milne (2007) argues that bank needs to develop a good strategic plan in order to the objectives. Decker (2009) suggests that the bank should assess its training and motivation needs before implementing any plan. He adds on that the banks must get there employees to get involved enthusiastically in their jobs. Banks urge employees for better output, success of the bank and sometimes even survival. Levesque (2007) debates that banks need motivated employees in rapidly changing banks environment and operations. He believes that a bank needs to motivate employees to generate revenue and to operate e ffectively. Workers who are motivated tend to be more productive and they bring positive energy in the workplace. After the understanding of needs and ways for motivating the employees the banks chalk out a strategy for implementing motivation plan (Larson, 2009). Manolopoulos (2008) argued bank management should understand motivation patterns of people they employ if it wants to introduce an effective system of banking. Latham (2007) has observed the factors that contribute to employees behavior. Armstrong (2010) advises that in order to determine the behavior of employees, the bank has to examine their expectations and asses the reasonability of those expectations. Employees will base their expectations based on nature of the work they are to perform and the positions they would hold. Some work for their living and some work for the love of what they do. Part of workforce has differing mindsets for which they work for. But, the work they do gives them something they want. This directly relates to the motivational level of each employee (Grimshawand Miozzo, 2009). In order to create positive employee motivation banks need to treat their employees as if they matter. In these harsh economic times, managers should assess ways to maximize their resources (Latham, 2007). They need to ensure that their employees are provided with what they require for the best output. It is not a pay raise, the key is motivation. Most of the studies according to Manolopoulos (2008) deal with job satisfaction and motivation have focused on factors like pay and mentoring. Only few take into account the differences between each person. Deckers (2009) found that people with similar job descriptions and responsibilities tend to carry various perceptions. This underlines the importance of taking into account the differences in personalities of staff which affect the attitude and behaviour towards job. Larson (2007) believed that intrinsic factors such as recognition need, appreciat ion and rewards can work strongly in case of extroverts with outgoing disposition. Podmoroff (2005) viewed employees as a backbone and livelihood of an organization. Their feelings and results achieved from that work directly influence banks performance and eventually its stability. A stable bank ultimately performs (Lauby, 2005). 7. Research Methodology Numerous data collection techniques will be applied. Methods which are cheap and fast will be utilised because of the financial and time constrains (Saunders et al. 2009). Only data that is relevant will be used to minimise the irrelevant data. Two main sources namely Internal (banks information will be discussed and analysed) and external which consist of newspapers, magazines, journals, reports and websites (Bryman and Bell, 2007). The researcher will apply the deductive approach of reasoning as per the need of social research and because it directs a structured research. This approach will assist in collecting data defining problem and other issues. Research methodology will include both primary and secondary methodologies (Kothari, 2008). Primary data will be collected through a purposeful approach. Bank motivation being a unique topic, the literature and data is limited; although the research material along with the primary data will be good enough for the structure of the lit erature (Kumar, 2005). Books and articles relevant to the motivational theories and concepts will form the backbone of the structure. Primary data will consists of questionnaire survey and management interviews, and for secondary research data on the internet, books, and latest articles will be searched. Both primary and secondary data will include Qualitative and Quantitative information. Results will be based on the data that will be collected from both the forms. Structured questionnaires for which the answers are predetermined will be used for collecting quantitative data. Measurements will be objective and will be valid statistically. On the contrary qualitative data is subjective and will be based on the interviews with the management. Numerical values will be assigned for conclusion of data that will be coded for quantitative purposes. Interviews will be held with the management as it is believed that it is a suitable way to extract from the managements experience (Saunder s et al. 2009). The management is expected to be co-operative during the interviews and also expected to assist in the collection of primary data. Initial interviews will be carried out the on telephone (Bryman and Bell, 2007)The researcher will utilize the latest information and communication technologies (ICT) such as using video-conferencing for detailed interviews from the managers during the research process. Informal approach for the interviews will be selected for the collection of data (Ghauri, 2010). For quantitative data questionnaires will be used as it is helpful to analyse scholarly data. It is expected to be cost efficient and the bank employees are well aware of it. Closed-ended questions will be used with predetermined answers, for the employees to just select the most favourable option. This will help in gathering the information easily and computing percentages. Questions made will be aimed to collect data only that is relevant. The researcher will scan the researc h findings for reliability and validity and will adapt suitable processes for collecting and generating information (Ghauri, 2010). Internet will be the preferred mode of communication because it makes collecting the data easy and fast. Latest ICT applications and tools will be utilised to liaise with the banks management. The researcher will process the data and draw graphs using Microsoft Excel spread-sheet. Microsoft Word 2010 will be used as a design tool due to its ability to sync with variety of graphical alternatives and other helpful options. Sampling Due to natural limitations of time and money, information cannot be collected from all the available sources, therefore, three out of four managers (including branch manager) of HDFC Bank and all three managers of ICICI Banks will be requested for interviews (Saunders et al. 2009). If time permits, the researcher will go for general consensus of employees in both bank; otherwise 50 employees of each bank will be selected randomly (Saunders et al. 2009). Limitations Due to the financial constraints, most of the interviews will be done through the telephones; pilot questionnaires will be also filled through electronic mails. Self representation at the bank is not always feasible because of the time and money constraint. Some books, journals, magazines and articles will have to be ignored using Bells checklist parameter (Bryman and Bell). Another limitation is unavailability of authentic, reliable and professional literature on motivation of employees in Indian Banks in Delhi region. The researcher will have to search from scratch as there is no such help available. Theoretical Framework This research serves the purpose to observe and research the employee motivation analysis of the banks staff in HDFC Bank and ICICI Bank, for analysing the satisfaction levels and the affect they may have on daily operations. Another purpose of this research work includes examining the motivational requirements of the staff and to appraise if they are satisfied with the current job profile. This dissertation focuses on the how do the motivational factor effect the performance of the banks employees. The researcher also focused to understand the relationship between the bank performance and motivation, testing empirically existing theoretical frameworks features. This work will also evaluate and discuss the means for motivation of employees in the banking atmosphere and effects of critical factors on motivation. The researcher has planned to consider detailed explanations on types of motivation techniques and methods, role of the management, and employees requirements will also be c onsidered. The final sub-section of the literature will concentrate on the need for employee appraisal and evaluation. After an analysis of the influence of motivation on the employees it will be linked to a banks performance. A debate on issues related to motivations, arguments and counter arguments by scholars will also be provided. This purpose of this research will be to focus on the motivational factors and its effects on the employees of banks. A comparison on the research carried out on the banks and the literature will be carried out and at the end a conclusion based on the effects of motivating employees of the banks will be made. Hypothesis Banks can increase the performance by staff motivation and their training and development. An increase in the efficiency of the employees can be achieved by developing and motivating the staff appropriately. Banks usually take up techniques that were effective in the past and now are inadequate but cannot exist in the current scenario. The banks tend to ignore tailored methods for the motivation of the staff according to the individual culture and banking environment. For a better overall performance of the bank it will have to introduce and implement new ways that can motivate the staff. Usefulness of the Research (Suitability) The focus of this dissertation will be to find out the relevant factors to motivation, its importance in motivating the employee to outperform and how is this related to the overall effectiveness of the operations. The research can be a handful to branches HDFC Bank and ICIC Bank researched. Additionally this work can be used by other banks as a benchmark for motivating their employees and evolving a culture that would utilise the benefits that will reap off from motivating the employees. Further, it can be used for any research studies carried out by others. Summary of the Research Introduction of the literature is the section one of this dissertation where the whole research will be summarised. Aim and objectives will be overviewed together with research Gap questions. The researcher will explain the rationale and hypothesis of the research along with the reasons for selecting the topic and how, why and where the research would be carried, will all be examined and analysed. Literature review forms the second chapter of the dissertation where all the motivation related issues regarding Indian Banks will be discussed. The researcher will examine the employees motivational requirements and evaluate whether the bank management can fulfil their requirements of motivating employees and training them with appropriate skills. In literature review, the researcher will examine the effects of motivational factors on performance of both bank and its employees. Views of several authors will be taken into consideration during critical analysis of this chapter. The rese archer will present a debate and arguments on motivation related issues. This chapter will specifically examine motivation of employees in banks specifically focusing on motivational factors and its effects. Research methodology is the third chapter of the dissertation where all the available methods will be assessed and evaluated. The researcher will provide a detail of research methods, techniques, approaches and tools and will justify why those are chosen and provide reasons why some are rejected. The benefits of using chosen methods will be explained along with limitations and constraints of the research. Information about sampling method and data analysis tools will also be discussed. Findings and data analysis section is the fourth section of the research project. All the primary data findings will be presented in graphical format. Results from interviews and questionnaires will be critically discussed in detail. The researcher will provide a comparison between both Bank s. In chapter five, the researcher will summarise the dissertation, provide recommendations and conclude the research by presenting proofs and evidences.

Theme Of Fire In Fahrenheit 451 - 1246 Words

The world of Fahrenheit 451 is not a place that one may want to live. It is a dystopian world. With authoritative control and absolutely no individual freedom, the author Ray Bradbury really set out to emphasize not only the need for literature/knowledge but also the power technology holds in his envisioned future. The novel being titled Fahrenheit 451 one might have thoughts of heat or burning or fire. Whether fire is being used as a weapon of destruction or a way to cleanse the impurity in the world, fire seems to be a recurring theme in this futuristic setting. Fire or the symbolism of fire carries the story throughout the novel. The whole story is revolved around not only the burning of books, but also knowledge, history, and†¦show more content†¦Thrusting himself into an identity crisis because he realizes his own identity is being puppeteered by others. During the first parts of the novel the audience only saw Montag as a shell of a person with no real depth but when he finally starts to process the people and events around him, he really begins to shine as a character. Montag starts to fear fire and its corrupt uses. In this dystopian world, society passes judgement through fire that Montag himself carries out and he begins to have inner conflict throughout the novel. During the end of Fahrenheit 451 Montag comes across â€Å"book people†, scholars led by Granger. Montag sees their bonfire of sorts warming them in the cold. â€Å"The small motion, the white and red color, a strange fire because it meant a different thin g to him. It was not burning, it was warming,† (pg. 139). He sees the fire not hurt these men—as he has grown accustomed to—but helping them acting as a hearth that the come close to for comfort and protection. He starts to realize that fire has a duality and the way it is handled is for the person to decide. 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Simple Things in Life Free Essays

Simple things in life Have you smiled or said hi to someone today? If not you need to look back and wonder why not. Doing something simple as that makes someone’s day, or maybe even making then smile for a second, anything will mean something. There are many kinds of kind things you can do for someone, you have large actions that you can do for someone or there are smaller actions. We will write a custom essay sample on Simple Things in Life or any similar topic only for you Order Now No matter what size and kind action can go a long way. The smaller actions are ones that usually mean the most. When it comes to me when I am feeling down, I don’t like to just complain, I feel that I will get on someone’s nerves. Therefore, if I ever see anyone not being there selves, I simply smile. To let them know I am here, maybe even say something to them to let them know I’m here and I care. Lets say that someone simply was walking by and said something nice with a smile it would make my day. Then I would have a smile on my face therefore I would smile at someone else. Hopefully this will cause a chain reaction and go a long way to make everyone a little less tense. It really is mind blowing that you can make a difference in someone’s day just listening or letting them know you are there. Have you ever been in the grocery store and the person in front of you says,† hey is it okay if I buy your items for you? † Well, if not it does not happen a lot. When it does it will make a difference in someone’s life. I say this because it has happened to me, it was like a couple of years ago, but to this day I remember this wonderful thing. Many people now days cant do these kinds of things, it’s understandable we are going times with this economy. This economy is making people even more stressed and down, this is why we need to remember to do good things. There are many different actions that you can take to make a change. There are those who can simply take a day off and go to a hospital. Then there are those who have the chances to adopt a kid and change a life. Their not really hard thing to do but it means a lot. In the end when you see them smile, you see how much they really appreciate and it’s the best feeling ever. Over all you have a choice to make a difference in someone’s life, or just someone’s day. Rather it is large or small it does not matter in the size, you being kind and caring is all, just trying to make the world a happier place is wonderful. As I said before,† kind actions go a long way,† which can help make someone who had a hard day into a good day. Therefore the next time you see someone not smiling or down, make their day, smile or say hey. How to cite Simple Things in Life, Essay examples

Dell Implementation Strategy free essay sample

Krit Tiraarporn 528-28181-26 Closing Case 7: Strategy Implementation at Dell Computer 1. Why has Dell moved to different kinds of organizational structures over time? Answer: Dell needs to move to different kinds of organizational structures over time in order to change and adjust the business itself to fit with a change in environment. In 1984, Dell did the business alone but the demand was coming a lot. To serve the huge demand, Dell needed to hire more employees and assign a tons of work to each person. When the business is bigger and bigger, Dell alone cannot do every thing in the company, so the functional structure can help Dell to work in different areas such as marketing or manufacturing. Moreover, the market is more fragmented and the company has a wide range of product, so Dell needs to create more many sub-divisions in order to better respond and serve the specific customer need. We will write a custom essay sample on Dell Implementation Strategy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It would be seen that when the business moves to a direction to make competitive advantage, the organizational structures needs to be changed to support for achieving the company’s success. 2. Has Dell’s performance been improved? Answer: Yes, Dell’s performance has been improved from a change in organizational structure. Firstly, creating the functional structure and giving authority to manager can help Dell to develop a lean organizational culture to squeeze the cost. Secondly, fragmenting the sub-division for specific customers could allow Dell to better respond the customer need; consequently, it could increase the customer satisfaction. Moreover, grouping the division as the customer group can help employees to obtain more in-dept knowledge and specialize in their tasks to serve the specific customers. Of course, this kind of organization can increase the profitability of the company. Besides, Dell’s performance is improved substantially from making use of the corporate intranet to standardize activities across divisions and integrate its activities to reduce cost. In summary, a change in organizational structure can improve Dell performance over time to create company competencies in order to increase more customer satisfaction and achieve company profitability. 3. Search the Internet to find out how Dell has been trying to increase its performance and how its competitors such as Apple and HP have also been working to improve theirs. Answer: In 2008, Dell attempts to reduce the cost by moving the manufacturing to China. In 2009, about 70 percent of Dell’s total product volume has been redesigned and optimized to reduce costs to increase company’s competitiveness. Meanwhile, expanding its business to BRIC countries at the same year can increase the revenue of Dell’s business. Another side, HP and Apple also improve their performance to compete with Dell. HP reduces the size of the company by laying off about 15,000 people worldwide and minimize management layer to reduce cost. HP also expands its assemble to in many countries around the world such as China to keep the cost low. While Dell and HP tries to compete with cost, Apple makes a different way. Apple tries to create innovative product and charge with high price. Ipod is a good example to show Apple’s success in 2001 from innovativeness. Instead of offering the standard product, Apple develops unique software and hardware to compete Dell and HP with higher superior product. Creating differentiation can improve Apple business to be much more profitable especially that Apple now becomes accepted as the number one of technology.