Submitted in partial fulfillment of Degree of THE REQUIREMENT FOR THE DEGREE OF
M.PHIL. (HR)
TO SCHOOL OF BUSINESS STUDIES Neha Vashista
Guided by:
NH-58, MODHIPURAM, MEERUT, UP.
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DECLARATION
I, Neha Vashista , a student of MBA (2012-13) studying at SHOBHI T UNI VERSI TY, MEERUT (UP) solemnly declare that the project work titled- STUDY OF MOTI VATI ON LEVEL OF EMPLOYEES I N BANKI NG SECTOR SPECI ALLY I N MEERUT REGI ON was carried out by me at , in partial fulfillment of the MBA program. This program was undertaken as a part of academic curriculum according to the University rules and norms and by no commercial interest and motives.
Place:- MEERUT NEHA VASHISTA
Date:
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ACKNOWLEDGEMENT
I feel great pleasure for the completion of this project. At the very outset I would express my sincere thanks and deep sense of gratitude to personnel who helped me during the collection of data and gave me rare and valuable guidance for the preparation of this report. I am very thankful to GUI DE for giving me such a wonderful opportunity to work with corporate as a part of my project work and constantly motivating right from the beginning. I thank to All faculty of MBA department of Nice Management College, Meerut, U.P. for his continuous Support and guidance. I take this opportunity to express my deep sense of gratitude and appreciation to my project guide for assistance, motivation, and being a continual source of encouragement for me. I take opportunity to thanks all my friends and also thank all people who directly or indirectly concerned with this project. I also express my gratitude to my parents who give a constant support and love throughout my life and career.
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Preface
The study is about Employee Motivation, which refers to motivate the employees at work place. The study is to find out whether the employees are satisfied with the motivational methods of Banks and what are the strategies adopted by the Banks to retain employees. The research methodology used in this study is both descriptive and exploratory. Exploratory research was conducted by collecting secondary data such as previous records, websites, books, magazines, journals, articles. The descriptive research was conducted through direct interviews questionnaire with respondents. Research design was undertaken to access the employees of SYNDICATE BANK. The respondents are employees of SYNDICATE BANK in Meerut branch. The sample size was 50. The data was analyzed by cross tabulation, pie charts, and bar charts, Chi-square test.
Ultimately most of the employees are satisfied with the Employee Motivation system. And the strategies and practices adopted by the organization are good.
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Table of Contents CONTENTS PAGE NUMBERS
List of Tables List of Figures 1. INTRODUCTION 2. REVIEW OF LITERATURE 3. THE COMPANY\ 4. DATA ANALYSIS &PRESENTATION 4.1 Presentation and Analysis 4.2 Interpretations 5. SUMMARY & CONCLUSIONS 6. BIBLIOGRAPHY 7. APPENDICES Appendix Questionnaire
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LIST OF TABLES S.NO T. No. TABLE Page No. 1 2 3 4 5
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7 8 9 10 11 12
13 14 15 16
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18 3.1 3.2 4.1.1 4.1.2 4.1.3
4.1.4
4.1.5 4.1.6 4.1.7 4.1.8 4.1.9 4.1.10
4.1.11 4.1.12 4.1.13 4.1.14
4.1.15
4.1.16 Board of directors Key Executives The type of incentives motivate the employee more Chi-square test-I The factors which De-motivates the employee at work place Satisfaction of employees with the incentives provided by org. Effect of employee job on employee skills and abilites Incentives and other benefits influence performance Interest of management on motivation of employee Management decisions in Employee department Enthusiasium of employees at work Encouragement of employees for doing work in better way Promotion of employees at work in the last six months Recognization of employees work Rank the factors which motivates employee most Employees nomination for training and development program Management feedback to employees to solving work related problems Satisfaction of employees with their job 31 31 33 34 36
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LIST OF FIGERS S.NO Fig.No FIGERS Page No. 1 2
3
4 5 6 7 8 9
10 11 12 13
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4.1.a 4.1.b
4.1.c
4.1.d 4.1.e 4.1.f 4.1.g 4.1.h 4.1.i
4.1.j 4.1.k 4.1.l 4.1.m
4.1.n
4.1.o The type of incentives motivate the employee more The factors which De-motivates the employee at work place Satisfaction of employees with the incentives provided by org. Effect of employee job on employee skills and abilites Incentives and other benefits influence performance Interest of management on motivation of employee Management decisions in Employee department Enthusiasium of employees at work Encouragement of employees for doing work in better way Promotion of employees at work in the last six months Recognization of employees work Rank the factors which motivates employee most Employees nomination for training and development program Management feedback to employees to solving work related problems Satisfaction of employees with their job 33 36
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38 39 40 41 42 43
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CHAPTER: 1 INTRODUCTION
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INTRODUCTION
INTRODUCTION TO HR Human Resource Management is an art of managing people at work in such a manner that they give their best to the organization. In simple word human resource management refers to the quantitative aspects of employees working in an organization.
Human Resource Management is also a management function concerned with hiring, motivating, and maintains people in an organization. It focuses on people in organization.
Organizations are not mere bricks, mortar, machineries or inventories. They are people. It is the whole staff and manage organizations.
HRM involves the application of management functions and principles. The functions and principles are applied to acquisitioning, developing, maintain, and remunerating employees in organizations.
Decisions relating to employees must be integrated. Decision on different aspect of employees must be consistent with other human resource decisions.
Decision made must influence the effectiveness of organization. Effectiveness of an organization must result in betterment of services to customers in the form of high-quality product supplied at reasonable costs. 10
HRM function s is not confined to business establishment only. They are applicable to non-business organizations, too such as education, health care, recreation etc. The scope of HRM is indeed vast. All major activities in the working life of his or her entry into an organization until he or she leaves-come under the previews of HRM specifically, the activities included are HR planning, job analysis and be sign, recruitment and selection, orientation and placement, training and development, performance appraisal and job evaluation, employee and executive remuneration, motivation and communication, welfare, safety and health, industrial relations and the like. HRM is a broad concept Personnel management and human resource development is a part of HRM. Before we define Human Resource Management, it seems good to first define heterogeneous in the sense that they differ in personality, perception, emotions, values, attitudes, motives, and modes of thoughts. Human resource management plays an important role in the development process of modern economy. In fact it is said that all the development comes from the human mind.
Human Resource Management is a process of producing development, maintaining and controlling human resources for effective achievement of organization goals. 11
Human beings are a resource to an organization. Like another resource they represent an investment whose development and utilization require proper managing. There is a fundamental trust the people are organizations most important assets. Performance results from the interaction of physical, financial and human resource. The first two are inanimate; they are translated into productivity only when human element is introduced. In dealing with employees, however an intangible factor of will, violence or freedom of choice is introduced, and workers can increase or decrease their productivity as they choose. This human quality gives rise to need for motivation. Motivation is one of the most important factors affecting human behavior. Motivation not only affects other factors like perception and Learning but also affect the total performance of an individual in organizational setting. This is the reason why managers attach great importance to motivation in an organization. At one time, employees were considered just another input into the production of goods and services. What perhaps changed this way of thinking about employees was reached, referred to as the Hawthorne studies, conducted by Elton Mayo from 1924 to 1932(Dickson, 1973). This study found employees are not motivated solely by money and employee behavior is linked to their attitudes (Dickson, 1973) The Hawthorne studies began the human relations approach to management, where by the needs and motivations of employees become the primary focus of managers (Bedeian, 1993). The need to increase productivity and efficiency in the work place or any organization has led to increasing academic interest in the area of motivation over the years. Scholars have been keenly interested in knowing what factors are responsible for stimulating the will to work. Thus 12
motivation has become an issue of concern for both scholars and practitioners of personnel management. Every organization either in the private or public sector is goal oriented and all efforts are geared towards the successful attainment of those goals and objectives. Therefore, for any organization to record any degree of meaningful success in the pursuit of its goals and aspirations, it must have the ability to create values (motivation) enough to compensate for the burdens imposed upon the staff. Such value or motivators can come in the form of good training policies, facilities or incentives such as fringe benefit, promotion, status symbol etc so as to satisfy the needs of the staff for enhanced performance (Obisi, 1996). It has been shown, argued and proven that unless individual staff are motivated to make sufficient use of the potentials found in them during the employment process they may not achieve the level of performance that is desired from them (Morris, 1998). For a staff to be motivated, he or she has to perceive that his or her needs and wants are being met. Thus the satisfaction of the staff represents an indispensable dimension of the motivational process. A satisfied individual would certainly contribute positively to the realization of the organizational goals and objectives while a dissatisfied staff may only not contribute but can even act in such a way that the realization of such goals and objectives could be completely destroyed. This underlines the importance of staff satisfaction to the organisation. Motivation is said to be the core of management of human resources. The management of men and women is a challenging task. No two persons have the same qualities, feelings and behaviour. The nature of man is very complex. It is not easy to take care of human beings with such varying characteristics and qualities. 13
Without motivation, organisation would not last long. Human resources must be activated, trained, developed and above all motivated in order to realize individual and organizational goals. An individual who has ability, skills and knowledge would not do much without motivation. However, an individual with skills, knowledge and ability with added motivation is a sure way to success (Ajiola, 2002). The performance of a worker does not depend largely on his ability, intelligence, skills and knowledge but on the motivation which he has. If we do not motivate a worker, he would not as such be a problem solver (Abbegleen, 2001). It is generally acclaimed that incentives such as good pay, good condition of service, provision of decent accommodation, opportunity for staff training etc. motivate employees in order to increase their productive capacity. In view of the above, therefore, incentives are regarded as the major factor which motivates employees to exhibit better performance. However, it is not a matter of course to motivate an individual staff because the success of any motivational effect solely depends on the extent to which the motivation meets the needs of the individual employee. Finally, the test for management of either private or public organisations therefore is to determine the valued needs and motivators that will make an employee react according to the organizational desires to increase productivity. The impact of employee motivation on the banking industry using the Union Bank of Nigeria Plc, Maiduguri as a case study will therefore form the basis of this study.
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RESEARCH PROBLEM The research problem in this study is associated with the motivation of employees of Banks Employees. There are a variety of factors that influence a persons level of motivation. Some of these factors include 1. The pay and benefits 2. The perceived fairness of promotion system within a company 3. Quality of the working conditions 4. Leadership and social relationships 5. Employee recognition 6. Job security 7. Career development opportunities etc. motivated employees are a great asset to any organization. It is because the motivation and Job Satisfaction is clearly linked. Hence this study is focusing on the employee motivation in the organization.
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SIGNIFICANCE OF THE STUDY:
The study is intended to evaluate motivation of employees in the organization. A good motivational program is essential to achieve goal of the organization. If efficient motivational programmes of employees are made not only in this particular organization but also any other organization. The organizations can achieve the efficiency also to develop a good organizational culture. Motivation has variety of effects. These effects may be seen in the context of an individuals physical and mental health, productivity, absenteeism and turnover. Employee delight has to be managed in more than one way. This helps in retaining and nurturing the true believers. This study helps the researcher to realize the importance of effective employee motivation. This research study examines types and levels of employee motivational programs and also discusses management ideas that can be utilized to innovate employee motivation. It helps to provide insights to support future research regarding strategic guidance for organizations that are both providing and using reward/recognition programs.
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OBJECTIVES OF THE STUDY:
1. To analyze and examine the effectiveness of Motivation Programmes in Different Banks 2. To study the effect of monetary and non-monetary benefits provided by the organization on the employees performance. 3. To study the effect of job promotions on employees. 4. To study the employees opinion on the Motivation in Syndicate Bank
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LIMITATIONS OF THE STUDY:
The dissertation is done for the period of 45 days the information gathered may not be cent percent accurate and thus have the following limitations. 1. This study covers those employees who are working at Syndicate Bank. 2. The understand and knowledge may vary from person to person. The replied gives by the respondents are taken for granted, though they are not uniform. 3. Since names are mentioned in most of questionnaires, most of the employees answered favorable to the company. This might have led to wring finding in the study. 4. The interpretation being based on percentage method is not definite. 5. The report is subjects to changes with fast changing scenario.
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RESEARCH METHODOLOGY: SCOPE: 1. The study is aimed at finding out the employees opinions of Syndicate Bank. 2. The research as taken up 50 samples for study. 3. The information obtained from the primary and secondary data was limited to Syndicate Bank. 4. The study is restricted to a particular area Meerut Sample Design A sample design is a finite plan for obtaining a sample from a given population. Simple Random sampling is used for this study. Sample Size Number of the sampling units selected from the population is called the size of the sample. Sample of 50 respondents were obtained from the population. Sources of Information: The data were collected through Primary and secondary sources. Primary Source: The primary sources are discussion with employees, datas collected through questionnaire. Secondary Source: The secondary data mainly consists of data and information collected from records, Banks websites and also discussion with the management of the organization. Secondary data was also collected from journals, magazines and books.
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Questionnaire: A well defined questionnaire that is used effectively can gather information on both overall performance of the test system as well as information on specific components of the system. A defeated questionnaire was carefully prepared and specially numbered. The questions were arranged in proper order, in accordance with the relevance. Tools and Techniques: Chi-square test is used to test the hypothesis and draw inferences
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CHAPTER: 2
LITERATURE REVIEW
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INTRODUCTION P.L. Rao, in his Labour Legislation in the Making, opines that professional bodies like National Institute of Personnel Management should constitute a standing committee to monitor the proceedings in the Parliament regarding the labour welfare measures.
Cooperative Unionism and Employee Welfare by Michael R. White , (University of Westminster - Policy Studies Institute) , Industrial Relations Journal, Vol. 36, No. 5, pp. 348- 366, September 2005.
Using British national survey data, this article assesses the impact of unions on management practices to reduce labour costs, implement high-performance work systems, and make employee welfare provisions. Relative to non-union workplaces, those with unions are found to have practices which are consistent with 'mutual gains' outcomes. Staff development and employee welfare practices and their effect on productivity Ghana Library Journal Vol. 19 (1) 2007 pp. 83-96 Staff development and employee welfare are valuable assets in an organization since an organization's primary aims are productivity and profitability. Every organization primarily needs committed and dedicated staff that will help the organization to meet its tactical and strategic objectives.
The study examines whether staff development policies exist in three special libraries in Ghana, and whether training programmes are being offered to increase staff competence, efficiencies and performance. It was also aimed at assessing staff welfare practices and how these affect productivity and performance.
In conducting the survey, two sets of questionnaires were drawn up. One set was administered to management and the other set went to Library staff. The survey revealed that all the organizations under study have staff development policies and training programmes for staff to 22
enhance their capabilities and efficiency. Again, the survey revealed that staff welfare is catered for since several motivational avenues and incentive packages are available to boost their morale.
The word motivation is derived from a Latin word movere, meaning to move. In its simplest term, the term may be defined as the state or condition of being induced to do something. Essentially, motivation involves individual needs and the extent to which they are met by the organisation or the extent to which the worker perceive that his or her needs are met by the organisation. According to Campbell and Pitchard( 1976:34), motivation has to do with a set of independent/dependent variable relationship that explains the direction, skills and understanding of the task and constraints operating in the environment. Motivation also refers to the underlying psychological state that impels or causes behaviour. A motive generally is a need, want or desire which operates within the individual which makes him to exhibit certain behaviour. Glueck (1980:114), defines motivation as the process or factors (motives) that influence people to act. He went further to state that psychologists view motivation as the process and channeling of behaviour into a specific course. He also sees it as a general term applying to the entire class of desires, drives, needs, wishes and similar forces. Writing in the Nigerian Institute of Management, Ajilola (1976:22), defined motivation as a process of stimulating people to action to achieve organizational task as well as a process of stimulating oneself to action to gratify a felt need. Victor Vroom sees motivation as a process governing choices made by persons or lower organisations among alternative forms or voluntary activity (Vroom, 1964:75). Motivation is the process of creating organizational conditions which will impel staffs to strive to attain company goals (Hodgetts, 1979:9). According to Morns (1953:21), motivation represents 23
an unsatisfied need which creates a state of tension or disequilibrium, causing the individual to move in a goal directed pattern towards restoring a state of equilibrium by satisfying the need. Lillis (1958:35), defines motivation as the stimulating of any emotion or desire operating upon ones will and prompting or driving it into action. Steers and Poster (1979) presents a model of the process of motivation as follows: Model of the Process of Motivation
Source: Steers and Porter (1976:103)
This model implies that individuals have desired needs within them that leads to the development of behaviour aimed at meeting their goals or needs. A feedback is necessary in order to assess whether the behaviour is producing the desired goals or if there is the need for modification. From the above, one observes that motivation is something that originates from the inner state of an individual. Motivation can also arise from the socio-economic environment. This implies that factors within the socio-economic environment trigger off a desire to achieve a certain goal in order to meet the expected goals. Motivation is an exchange between individual and the socio-economic environment. The environment gives the individual set of value preferences from which the goals to which his Inner state and disequilibrium, needs, desires or expectancy accompanied by participation Behaviour Action Incentive Goal Modification Inner State 24
desires are expressed and the individual gives to the social environment by conforming to its norms through his behaviour (Dublin, 1974:44).
Rensis Likerthas called motivation as the core of management. Motivation is an effective instrument in the hands of the management in inspiring the work force .It is the major task of every manager to motivate his subordinate or to create the will to work among the subordinates. It should also be remembered that the worker may be immensely capable of doing some work, nothing can be achieved if he is not willing to work .creation of a will to work is motivation in simple but true sense of term. Motivation is an important function which very manager performs for actuating the people to work for accomplishment of objectives of the organization .Issuance of well conceived instructions and orders does not mean that they will be followed .A manager has to make appropriate use of motivation to enthuse the employees to follow them. Effective motivation succeeds not only in having an order accepted but also in gaining a determination to see that it is executed efficiently and effectively. In order to motivate workers to work for the organizational goals, the managers must determine the motives or needs of the workers and provide an environment in which appropriate incentives are available for their satisfaction .If the management is successful in doing so; it will also be successful in increasing the willingness of the workers to work. This will increase efficiency and effectiveness of the organization .There will be better utilization of resources and workers abilities and capacities.
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EMPLOYEE MOTIVATION: A CRITICAL EXAMINATION Since the age of the Industrial Revolution, psychologist and social scientists have been trying to decode this extremely complicated specimen called the 'employee'. What makes the employee motivated to work hard? Is it money? Is it social status? Till today, there is no clear consensus on what motivates employees. This subject continues to baffle analysts as more and more data is generated on employee motivation. There have been several studies done to understand motivation. Some of the leading motivation theories focus on employees as a social being with a complex set of needs. Some of these needs are tangible material needs. But most other needs are intangible, abstract, or illusionary. Does that mean we can ignore the intangibles and focus only on material benefits?
Role of Money in employees Motivation It is said that money makes the mare go. Some researchers believe that money solves most employee needs as it meets tangible and intangible requirements. Money meets basic physiological needs and other needs such as social status, recognition, power, and lifestyle. The fatter the paycheck, the higher are the levels of motivation Other experts deny the influence of money on motivation levels. After a certain level, money and all material benefits fail to motivate individuals. Employees seek job satisfaction, personal growth, self worth, recognition, and excellence, in addition to money. What we need to understand is the underlying principle behind employee motivation. It is clear from the motivation theories that intrinsically the employee is capable of competent work. People may have generic needs or specific needs, but they definitely have needs. While the basic 26
employee needs remain the same in every organization, specific employee needs vary from company to company. It is therefore important for organizations to recognize the nature of employee needs in their organization and work towards fulfillment of these needs. EMPLOYEE MOTIVATION IN THE WORKPLACE The job of a manager in the workplace is to get things done through employees. To do this the manager should be able to motivate employees. But that's easier said than done! Motivation practice and theory are difficult subjects, touching on several disciplines. In spite of enormous research, basic as well as applied, the subject of motivation is not clearly understood and more often than not poorly practiced. To understand motivation one must understand human nature itself. And there lies the problem! Human nature can be very simple, yet very complex too. An understanding and appreciation of this is a prerequisite to effective employee motivation in the workplace and therefore effective management and leadership. MOTIVATIONAL THOERIES Douglas McGregor Theory X and Theory Y Douglas McGregor in his book, "The Human Side of Enterprise" published in 1960 has examined theories on behavior of individuals at work, and he has formulated two models which he calls Theory X and Theory Y. Theory X Assumptions The average human being has an inherent dislike of work and will avoid it if he can. Because of their dislike for work, most people must be controlled and threatened before they will work hard enough. 27
The average human prefers to be directed, dislikes responsibility, is unambiguous, and desires security above everything. These assumptions lie behind most organizational principles today, and give rise both to "tough" management with punishments and tight controls, and "soft" management which aims at harmony at work. Both these are "wrong" because man needs more than financial rewards at work; he also needs some deeper higher order motivation - the opportunity to fulfill himself. Theory X managers do not give their staff this opportunity so that the employees behave in the expected fashion.
Theory Y Assumptions The expenditure of physical and mental effort in work is as natural as play or rest. Control and punishment are not the only ways to make people work, man will direct himself if he is committed to the aims of the organization. If a job is satisfying, then the result will be commitment to the organization. The average man learns, under proper conditions, not only to accept but to seek responsibility. Imagination, creativity, and ingenuity can be used to solve work problems by a large number of employees. Under the conditions of modern industrial life, the intellectual potentialities of the average man are only partially utilized.
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Comments on Theory X and Theory Y Assumptions These assumptions are based on social science research which has been carried out, and demonstrate the potential which is present in man and which organizations should recognize in order to become more effective. McGregor sees these two theories as two quite separate attitudes. Theory Y is difficult to put into practice on the shop floor in large mass production operations, but it can be used initially in the managing of managers and professionals. In "The Human Side of Enterprise" McGregor shows how Theory Y affects the management of promotions and salaries and the development of effective managers. McGregor also sees Theory Y as conducive to participative problem solving. It is part of the manager's job to exercise authority, and there are cases in which this is the only method of achieving the desired results because subordinates do not agree that the ends are desirable. However, in situations where it is possible to obtain commitment to objectives, it is better to explain the matter fully so that employees grasp the purpose of an action. They will then exert self-direction and control to do better work - quite possibly by better methods - than if they had simply been carrying out an order which the y did not fully understand. The situation in which employees can be consulted is one where the individuals are emotionally mature, and positively motivated towards their work; where the work is sufficiently responsible to allow for flexibility and where the employee can see his own position in the management hierarchy. If these conditions are present, managers will find that the participative approach to problem solving leads to much improved results compared with the alternative approach of handing out authoritarian orders. 29
Once management becomes persuaded that it is under estimating the potential of its human resources, and accepts the knowledge given by social science researchers and displayed in Theory Y assumptions, then it can invest time, money and effort in developing improved applications of the theory. Frederick Hertzberg 2 Factor Hygiene and Motivation Theory Frederick Hertzberg contributed to human relations and motivation two theories of motivation as follows: Hygiene Theory Motivation The first part of the motivation theory involves the hygiene theory and includes the job environment. The hygiene factors include the company, its policies and its administration, the kind of supervision which people receive while on the job, working conditions interpersonal relations, salary, status, and security. These factors do not lead to higher levels of motivation but without them there is dissatisfaction. The second part of Hertzbergs' motivation theory involves what people actually do on the job. The motivators are 30
achievement, recognition, growth / advancement and interest in the job. These factors result from internal generators in employees, yielding motivation rather than movement. Both these approaches (hygiene and motivation) must be done simultaneously. Treat people as best you can so they have a minimum of dissatisfaction. Use people so they get achievement, recognition for achievement, interest, and responsibility and they can grow and advance in their work. Therefore, the hygiene and motivation factors can be listed as follows: Hygiene Company policies and administration Supervision Working conditions and interpersonal relations Salary, status and security Motivators Achievement Recognition for achievement Interest in the task Responsibility for enlarged task Growth and advancement to higher level tasks
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Effects on Individuals of Working Environment The working environment has an effect on individuals as follows: It will provide at least sufficient for his basic needs and often much more. For example, 50 years ago in the United Kingdom, food and shelter were a person's basic needs. Today, most families will consider that the basic needs also include a car, television, etc. It may or may not provide adequate security. Again, most individuals seek a secure job, there are others including some men on oil rigs, who seek high pay for a limited period but with limited security. It provides an individual with an identity. As a member of an organization, he carries out a specific function. It also gives the worker comradeship, freedom from boredom, and an interest during his working life. It also provides self-fulfillment for individual where consideration has been given to ensure that the job is creative and gives job satisfaction. It provides the individual with status. There is a status in all jobs providing the job content is investigated to make the work more interesting. Effects on Work Groups of Working Environment Rensis Likert has already described how the various management styles in an organization can effect the groups in an organization. Whilst the working environment will affect individuals, it will undoubtedly have a greater effect on working groups, since whilst an individual may have certain needs, he will not obtain those needs if the working environment does not provide the needs of the working group.a 32
The working group is the instrument of society through which in large measure the individual acquires his attitudes, opinions, goals and ideals, it is also one of the fundamental sources of discipline and social controls. Therefore, the working environment has an effect on groups as follows: It will affect the morale of the group. It will determine whether the group achieves the objectives set by the organization. It will determine whether the degree of cooperation provided by the group It will motivate the group to give of their best. It will determine whether the human relations within an organization are good or bad. It will also affect the relations between management and trade unions. David C. McClelland Achievement Motivation Over the years behavioral scientists have observed that some people have an intense need to achieve; others, perhaps the majority, do not seem to be as concerned about achievement. This phenomenon has fascinated David C. McClelland. For over twenty years he and his associates at Harvard University studied this urge to achieve. McClelland's research led him to believe that the need for achievement is a distinct human motive that can be distinguished from other needs. More important, the achievement motive can be isolated and assessed in any group.
Characteristics of people with a high need for achievement McClelland illustrates some of these characteristics in describing a laboratory experiment. 33
Participants were asked to throw rings over a peg from any distance they chose. Most people tended to throw at random-now close, now far away; but individuals with a high need for achievement seemed carefully to measure where they were most likely to get a sense of masterynot too close to make the task ridiculously easy or too far away to make it impossible. They set moderately difficult but potentially achievable goals. In biology, this is known as the overload principle. In weight lifting, for example, strength cannot be in creased by tasks that can be performed easily or that cannot be performed without injury to the organism. Strength can be increased by lifting weights that are difficult but realistic enough to stretch the muscles. Do people with a high need for achievement behave like this all the time? McClelland maintains, only if they can influence the outcome. Achievement-motivated people are not gamblers. They prefer to work on a problem rather than leave the outcome to chance. With managers, setting moderately difficult but potentially achievable goals may be translated into an attitude toward risks. Many people tend to be extreme in their attitude toward risks, either favoring wild speculative gambling or minimizing their exposure to losses. Gamblers seem to choose the big risk because the outcome is beyond their power and, therefore, they can easily rationalize away their personal responsibility if they lose. The conservative individual chooses tiny risks where the gain is small but secure, perhaps because there is little danger of anything going wrong for which that person might be blamed. Achievement-motivated people take the middle ground, preferring a moderate degree of risk because they feel their efforts and abilities will probably influence the outcome. In business, 34
this aggressive realism is the mark of the successful entrepreneur. Rewards and achievement-motivated people Another characteristic of achievement-motivated people is that they seem to be more concerned with personal achievement than with the rewards of success. They do not reject rewards, but the rewards are not as essential as the accomplishment itself. They get a bigger "kick" out of winning or solving a difficult problem than they get from any money or praise they receive. Money, to achievement-motivated people, is valuable primarily as a measurement of their performance. It provides them with a means of assessing their progress and comparing their achievements with those of other people. Feedback A desire by people with a high need for achievement to seek situations in which they get concrete feedback on how well they are doing is closely related to this concern for personal accomplishment. Consequently, achievement-motivated people are often found in sales jobs or as owners and managers of their own businesses. In addition to concrete feedback, the nature of the feedback is important to achievement- motivated people. They respond favorably to information about their work. They are not interested in comments about their personal characteristics, such as how cooperative or helpful they are. Affiliation-motivated people might want social or attitudinal feedback. Achievement-motivated people might want job-relevant feedback. They want to know the score. Why do achievement-motivated people behave as they do? 35
McClelland claims it is because they habitually spend time thinking about doing things better. In fact, he has found that wherever people start to think in achievement terms, things start to happen. Examples College students with a high need for achievement will generally get better grades than equally bright students with weaker achievement needs. Achievement-motivated people tend to get more raises and are promoted faster because they are constantly trying to think of better ways of doing things. Companies with many such people grow faster and are more profitable. McClelland has even extended his analysis to countries where he related the presence of a large percentage of achievement-motivated individuals to the national economic growth. A Taught Skill? Can this motive, the need for achievement, be taught to people? McClelland was convinced that this can be done. In fact, he also developed training programs for business people that where designed to increase their achievement motivation. He also developed similar programs for other segments of the population.
Achievement-motivated people as managers Achievement-motivated people can be the backbone of most organizations, but what can be said about their potential as managers? As we know, people with a high need for achievement get ahead because as individuals they are producers they get things done. However, when they are promoted, when their success depends not only on their own work but on the activities of others, they may be less effective. Since they are highly job-oriented and 36
work to their capacity, they tend to expect others to do the same. As a result, they sometimes lack the human skills and patience necessary for being effective managers of people who are competent but have a higher need for affiliation than they do. In this situation, their overemphasis on producing frustrates these people and prevents them from maximizing their own potential. Thus, while achievement-motivated people are needed in organizations, they do not always make the best managers unless they develop their human skills. Being a good producer is not sufficient to make an effective manager. McClelland has found that achievement-motivated people are more likely to be developed in families in which parents hold different expectations for their children than do other parents. More importantly, these parents expect their children to start showing some independence between the ages of six and eight, making choices and doing things without help, such as knowing the way around the neighborhood and taking care of themselves around the house. Other parents tend either to expect this too early, before children are ready, or to smother the development of the personality of these children. One extreme seems to foster passive, defeated attitudes as children feel unwanted at home and incompetent away from home. They are just not ready for that kind of independence so early. The other extreme yields either overprotected or over-disciplined children. These children become very dependent on their parents and find it difficult to break away and make their own decisions. The Hertzberg link 37
McClelland's concept of achievement motivation is also related to Hertzbergs motivation- hygiene theory. People with high achievement motivation tend to be interested in the motivators (the job itself). Achievement-motivated people want feedback. They want to know how well they are doing on their job. On the other hand, people with low achievement motivation are more concerned about the environment. They want to know how people feel about them rather than how well they are doing. Abraham Maslow Hierarchy of Needs One of the many interesting things Maslow noticed while he worked with monkeys early in his career was that some needs take precedence over others. For example, if you are hungry and thirsty, you will tend to try to take care of the thirst first. After all, you can do without food for weeks, but you can only do without water for a couple of days! Thirst is a stronger need than hunger. Likewise, if you are very thirsty, but someone has put a choke hold on you and you cant breathe, which is more important? The need to breathe, of course. On the other hand, sex is less powerful than any of these. Lets face it, you wont die if you dont get it! Maslow took this idea and created his now famous hierarchy of needs. Beyond the details of air, water, food, and sex, he laid out five broader layers: the physiological needs, the needs for safety and security, the needs for love and belonging, the needs for esteem, and the need to actualize the self, in that order.
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1.The physiological needs. These include the needs we have for oxygen, water, protein, salt, sugar, calcium, and other minerals and vitamins. They also include the need to maintain a pH balance (getting too acidic or base will kill you) and temperature (98.6 or near to it). Also, theres the needs to be active, to rest, to sleep, to get rid of wastes (CO2, sweat, urine, and feces), to avoid pain, and to have sex. Quite a collection! Maslow believed, and research supports him, that these are in fact individual needs, and that a lack of, say, vitamin C, will lead to a very specific hunger for things which have in the past provided that vitamin C -- e.g. orange juice. I guess the cravings that some pregnant women have, and the way in which babies eat the most foul tasting baby food, support the idea anecdotally.
2. The safety and security needs. When the physiological needs are largely taken care of, this second layer of needs comes into play. You will become increasingly interested in finding safe circumstances, stability, protection. You might develop a need for structure, for order, some limits. Looking at it negatively, you become concerned, not with needs like hunger and thirst, but with your fears and anxieties. In the ordinary American adult, this set of needs manifest themselves in the form of our urges to have a home in a safe neighborhood, a little job security and a nest egg, a good retirement plan and a bit of insurance, and so on. 3. The love and belonging needs. When physiological needs and safety needs are, by and large, taken care of, a third layer starts to show up. You begin to feel the need for friends, a sweetheart, children, affectionate relationships 39
in general, even a sense of community. Looked at negatively, you become increasing susceptible to loneliness and social anxieties. In our day-to-day life, we exhibit these needs in our desires to marry, have a family, be a part of a community, a member of a church, a brother in the fraternity, a part of a gang or a bowling club. It is also a part of what we look for in a career.
4. The esteem needs. Next, we begin to look for a little self-esteem. Maslow noted two versions of esteem needs, a lower one and a higher one. The lower one is the need for the respect of others, the need for status, fame, glory, recognition, attention, reputation, appreciation, dignity, even dominance. The higher form involves the need for self-respect, including such feelings as confidence, competence, achievement, mastery, independence, and freedom. Note that this is the higher form because, unlike the respect of others, once you have self-respect, its a lot harder to lose! The negative version of these needs is low self-esteem and inferiority complexes. Maslow felt that Adler was really onto something when he proposed that these were at the roots of many, if not most, of our psychological problems. In modern countries, most of us have what we need in regard to our physiological and safety needs. We, more often than not, have quite a bit of love and belonging, too. Its a little respect that often seems so very hard to get! All of the preceding four levels he calls deficit needs, or D-needs. If you dont have enough of something - i.e. you have a deficit -- you feel the need. But if you get all you need, you feel nothing at all! In other words, they cease to be motivating. As the old blues song goes, you dont miss your water till your well runs dry!
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The concept of motivation:
The word motivation has been derived from motive which means any idea, need or emotion that promots a man into action. Whatever may be the behavior of man, there is some stimulus behind it .Stimulus is dependent upon the motive of the person concerned. Motive can be known by studying his needs and desires. There is no universal theory that can explain the factors influencing motives which control mans behavior at any particular point of time. In general, the different motives operate at different times among different people and influence their behaviors. The process of motivation studies the motives of individuals which cause different type of behavior.
Meaning of motivation: Motivation has been variously defined by scholars. Usually one or more of these words are included in the definition: desires, wants, aims, goals, drives, movies and incentives. Motivation is derived from the Latin word Move on which means to move. Human motives are internalized goals within individuals. A motive is an inner state that energies activates, or moves and directs or channels behavior towards goals.
Definition: 1. Motivation is the complex forces starting and keeping a person at work in the organization. 2. Motivation is the various drives within or environmental forces surrounding individual that stimulate or attract them in a specific manner. 41
3. Motivation is the art of understanding motives satisfying them to direct and sustain behavior towards the accomplishment of organization goals. 4. Motivation is the process of operating organizational conditions which will impel employees of any emotion or desire operation ones will and prompting or driving at it to action. Motivation consists of the three interaction and interdependent elements of needs, drives and goals. Needs: These are the deficient, and create whenever there is a physiological or psychological imbalance. Drive or motives: These are set to alleviate needs. These are action oriented and provide an energizing thrust toward goal accomplishment. They are the very heart of the motivation process. Goal: Goals are anything which will alleviate a need and reduce a drive. Nature of motivation: Following are some of the characteristics of motivation derive from the definitions given by various authors. 1. Based on motives: Motivation is base on individuals motive which are internal to individual. These motives are in the form of feeling that the individual lacks something. 2. Goal directed behavior: Motivation Leads to goal directed behavior. A goal directed behavior is one which satisfied the causes for which behavior takes place. Motivation has profound influence on human behavior. 42
3. Related to satisfaction: Motivation is related to satisfaction. Satisfaction is refers to the contentment experiences of an individual which we derives out of needs fulfillment. 4. Complex process: Motivation is a complex process; complexity emerges because of the nature if needs a types of behavior that need attempted to satisfied those needs. Significance of Motivation: Motivation 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. 1. The workforce will be better satisfied if the management provides them with opportunities to fulfill their physiological and psychological needs. The workers will cooperate voluntarily with the management and will contribute their maximum towards the goals of the enterprise. 2. Workers will tend to be as efficient as possible by improving upon their skills and knowledge so that they are able to contribute to the progress of the organization. This will also result in increased productivity. 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 themselves and between the workers and the management will decrease. 5. The number of complaints and grievances will come down. Accident will also be low. 6. 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.
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Types of needs: There are many needs which an individual may have and there are various ways in which may be classified? Needs may be natural, biological phenomenon in an individual or these may develop over the period of time through learning. Thus, need may be grouped into 3 categories:
1. Primary need 2. Secondary need 3. General needs 1) Primary needs: These are also known as physiological, biological, basic, or unclear needs. These needs are common in human beings through their intensity differs. 2) Secondary needs: As contrast to primary needs, these are not natural but are learned by the individual through experience and interaction. Emergency of these needs depends in learning. 3) General needs: Through a separate classification for general needs is not always given, such a category seems necessary because there are a number of needs which lie in the grey area between the primary and secondary needs. In fact, there are certain needs such as need for competence, curiosity, manipulation, affection, etc. Theories of Motivation: Understanding what motivated employees and how they were motivated was the focus of many researchers following the publication of the Hawthorne study results (Terpstra, 1979). Six major approaches that have led to our understanding of motivation are McClellands Achievement Need Theory, Behavior Modification theory; Abraham H Mallows need hierarchy or Deficient theory of motivation. J.S. Adams Equity Theory, Vrooms Expectation Theory, Two factor Theory. 44
McClellands Achievement Need Theory: According to McClelland there are three types of needs Need for Achievement (n Ach): This need is the strongest and lasting motivating factor. Particularly in case of persons who satisfy the other needs. They are constantly pre occupied with a desire for improvement and lack for situation in which successful outcomes are directly correlated with their efforts. They set more difficult but achievable goals for themselves because success with easily achievable goals hardly provides a sense of achievement. Need for Power (n Pow): It is the desire to control the behavior of the other people and to manipulate the surroundings. Power motivations positive applications results in domestic leadership style, while it negative application tends autocratic style. Need for affiliation (n Aff): It is the related to social needs and creates friendship. This results in formation of informal groups or social circle.
Behavioral Modification Theory: According to this theory people behavior is the outcome of favorable and unfavorable past circumstances. This theory is based on learning theory. Skinner conducted his researches among rats and school children. He found that stimulus for desirable behavior could be strengthened by rewarding it at the earliest. In the industrial situation, this relevance of this theory may be found in the installation of financial and non financial incentives. 45
More immediate is the reward and stimulation or it motivates it. Withdrawal of reward incase of low standard work may also produce the desired result. However, researches show that it is generally more effective to reward desired behavior than to punish undesired behavior. 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. Abraham Maslow's hierarchy of human needs : This theory is the most widely discussed theory of motivation. The theory can be summarized as thus: Human beings have wants and desires which influence their behavior; only unsatisfied needs can influence behavior, satisfied needs cannot. Since needs are many, they are arranged in order of importance, from the basic to the complex. The person advances to the next level of needs only after the lower Level need is at least minimally satisfied. The further the progress up the hierarchy, the more individuality, humanness and psychological health a person will show. The needs, listed from basic (lowest, earliest) to most complex (highest, Latest) are as follows: Self actualization Self esteem Social Safety & security 46
Physiological
J.S Adams Equity Theory :
Employee compares her/his job inputs outcome ratio with that of reference. If the employee perceiv es inequity, she/he will act to correct the inequity: lower productivity, reduced quality, increased absenteeism, voluntary resignation. Vrooms Expectation Theory:
Vrooms theory is based on the belief that employee effort will lead to performance and performance will lead to rewards (Vroom, 1964). Reward may be either positive or negative. The more positive the reward the more likely the employee will be highly motivated. Conversely, the more negative the reward the less likely the employee will be motivated. Two Factor Theory:
Douglas McGregor introduced the theory with the help of two views; X assumptions are
Conservative in style Assumptions are modern in style.
X Theory
Individuals inherently dislike work.
People must be coerced or controlled to do work to achieve the objectives.
People prefer to be directed
Y Theory
People view work as being as natural as play and rest
People will exercise self direction and control towards achieving objectives they are
Committed to People learn to accept and seek responsibility.
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Types of motivation: There are 2 types of motivation. They are 1. Positive motivation. 2. Negative motivation. Positive motivation is a process of attempting to influence others to do your will through the possibility of gain or reward. Incentive motivation is the pull mechanism. Negative motivation or fear motivation is based force or fear. Fear causes person to act in a certain way because they are afraid of the consequences if they dont Fear motivation is the push mechanism. The objective of motivation is to create condition in which people are willingly to work with zeal, initiative, interest and enthusiasm, with a high personal and group. Moral satisfaction with a sense of responsibility, loyalty and discipline and with pride and confidence in a most cohesive manner so that the goal of an organization are achieved effectively.
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EMPLOYEE MOTIVATION IN THE WORK PLACE: The job of a manager in the workplace is to get things done through employees. To do this the manager should be able to motive employees. To understand motivation one must understand human nature itself. Human nature can be very simple, yet very complex too. An understanding and appreciation of this is a prerequisite of effective employee motivation in the workplace and therefore effective management and leadership. Motivation is the key to performance improvement: Performance is considered to be a functional improvement: Job performance =f (ability) (motivation) Ability in turn depends on education, experience and training and its improvement is a slow and long process. On the other hand it can be improved quickly. As a guideline, there are broadly 7 strategies for motivation. Positive reinforcement Effective discipline and punishment Treating people fairly Satisfying employee needs Setting work related goals Restructuring job Based rewards on job performance Basic principles to remember by manager for motivating employees: 1. Motivating employees starts with motivating yourself 2. Always work to align goals of the organization with goals of employees 49
3. Key to support the motivation of your employees understands what motivates each of them. 4. Recognize that supporting employees motivation is a process, not a task. 5. Support employees policies by using motivation by organization systems. Worker motivation must also be viewed from 2 perspectives: 1. Inner drive 2. Outer (external) motivators. A persons inner drives push and propel him/her towards an employer, a particular job, career, line of study, or other activity. The outer (external) motivators are the mirror image the employer or outside world offers in response to the inner drives. In order to attract the cream of the crop of available workers, same as in his/her dealings with customers, the employer not only tries to satisfy these basic needs individual workers have. Most workers need to: 1. Earn wages that will enable them to pay for basic necessities and additional luxuries such as the purchase of a home, or travel 2. Save for and enjoy old age security benefits 3. Have medical and other insurance coverage 4. Acquire friends at work 5. Win recognition 6. Be acknowledge and rewarded for special efforts and contributions 7. Be able to advance in life and career-wise 8. Have opportunities for self-development 9. Improve their skills, knowledge, and know-how 50
10. Realize their ideal(s) The employer responds to those needs by offering and providing: 1. Employment 2. Adequate pay 3. Assistance to workers for their special needs (such as child care arrangements, transportation, flexible work schedule). 4. Job security 5. Clear company policies 6. Clear and organized work procedures 7. A safe work environment 8. Medical coverage and other benefits 9. An atmosphere of team work and cooperation 10. Social activities 11. Reward and recognition programs 12. Open lines of communication programs 13. Systematic feedback 14. Motivation programs 15. Opportunities for promotion 16. Company/business information 17. Information on customer feedback 18. Sharing of company goals and objectives 19. Information on the market situation and industry 20. Future expectations 51
It is important that the employer discover other extraordinary needs applicants have before hiring them and know beforehand whether she/he can satisfy those needs or not. An employee may have: Family responsibilities and be unable to work shifts, over time, or weekends. Heavy financial responsibilities which he/she can meet only by working at 2 jobs, leading to exhaustion, sick leave, a deficient work performance A desperate financial need for additional overtime and weekend remuneration Premature expectations of swift promotions. In addition to needs and drives, workers have expectations from their employer-they expect: A knowledgeable, experienced, expert employer Clear and fair policies, procedures, and employment practices Business integrity Clear job description Two-way communication Effective management and supervision Positive discipline Good company repute Good customer relations Company survival Opportunity for personal growth Company growth A share in the companys success. 52
Most of these needs, expectations and aspirations are unexpressed-it is up to the employer to develop a good system of company communications, employee relations, Motivation that will lead to an environment of openness, cooperation, team work, and motivation that will benefit all the parties involved. Motivational methods: 1. Building confidence: Facing a challenge, meeting it and mastering it help build confidence. 2. Team building: Team unite and work together when they identify a common purpose whether the aim is the tallest tower made out of newspaper, or a game of rounders on the park. Competition in teams or groups creates teams and ignites team effort 3. Coaching and Training: Games and activities provide a perfect vehicle for explaining the Motivation process (train the trainer for example) to managers, team leaders and trainers. 4. Personal motivation style and learning: Everyone is different. Taking part in new games and activities outside of the work situation illustrates peoples different strengths and working style preferences. Mutual respect develops when people see skills and attributes in others that they didnt know existed.
5. Continual development: Introducing people, staff or employees to new experiences opens their minds to new avenues of personal development, and emphasizes the opportunity for continuous learning that is available to us all. 53
6. Improving empathy and communications for motivation To communicate we must understanding the other person. Empathy and intuitive skills are right-side brain of the brain, which we use when we communicate and understand others. Team activities and games promote communications and better mutual understanding-essential for good organizational performance.
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CHAPTER: 3
THE COMPANY
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INTRODUCTION SYNDICATE BANK was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician - who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilizing small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand equity today and the Bank collects around Rs. 2 crore per day under the scheme. The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centers at the area level. The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank's personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. The Bank has launched an ambitious technology plan called Centralized Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period. 56
MEMORABLE MILESTONES IN A 82-YEAR JOURNEY Growing Far And Wide : 1925 On 10.11.1925, the business of the Bank commenced in Udupi with the name "Canara Industrial and Banking Syndicate Ltd.," a joint Stock Company with just one employee. 1928 First branch of the Bank opened at Brahmavar in Dakshina Kannada District 1937 Bank became a member of the Clearing House for the first time at Bombay. 1946 29 branches opened in a single day in rural areas. 1953 Took over the assets and liabilities of 2 Local Banks viz. Maharashtra Apex Bank Ltd. and Southern India Apex Bank Ltd. 20 Banks merged with the Bank during the period 1953-1964. 1957 100th branch opened at Ilkal in Karnataka 1962 Entered Foreign Exchange business by opening Foreign Exchange Department at Bombay. 1963 Name of the Bank changed from "Canara Industrial & Banking Syndicate Ltd." to "Syndicate Bank Limited". Head Office was shifted to Manipal on 19.4.1964. 1966 Economic Research Department set up. One of the first few Banks to emphasize on research in Banking even before nationalization. 1969 Bank had 306 branches at the time of nationalization of which 66% were in Rural and Semi Urban centers. Opened a branch at Port Blair in Andaman and Nicobar islands 1970 First Staff Training College started at Head Office 1971 First specialized branch in Foreign Exchange opened at Delhi. 1972 Opened a branch at Lakshadweep islands 1976 First overseas branch opened at London on 17.8.76. 57
1983 Took up management of Al Shabei Finance and Exchange Co. in Doha 1984 Took up management of Musandam Exchange Co. in Muscat 1984 1000th branch opened at Delhi Hauz Khas 1989 1500th branch opened at Kanakumbi 1991 First Specialized Industrial Finance Branch opened at Mumbai. 1995 First Specialized Housing Finance Branch opened at Mangalore 1999 Bank raised Capital of Rs.125 Crore in Oct.1999 from more than 4 lakh shareholders 2000 First Specialized Capital Market Services branch opened at Mumbai 2001 First branch under CBS (Core Banking Solution) started operation at Bangalore. 2002 Centralized Banking Solution under the brand name "Syndicate-e-banking" launched at Delhi, Mumbai, Bangalore and Manipal. 2003 Bank enters into MOU with Bajaj Allianz for distribution of Life Insurance products. 2003 Toll Free Voice Mail System for redressal of grievances introduced. 2004 Bank ties up with United India Insurance Co. Ltd. for distribution of Non-Life Insurance products 2004 Utility bill payment services through Internet banking introduced. 2005 Introduced On-line reservation of Railway Tickets through Indian Railway Catering & Tourism Corporation Ltd. (IRCTC) for Internet banking customers of our Bank. 2005 Bank approached the Capital Market with Rs.5 Crore equity shares at a premium of Rs.40 through Book building route Bank collected Rs.250 Crore and the issue was oversubscribed by 29.275 times. 2005 Amalgamation of 4 Regional Rural Banks of Karnataka to form Karnataka Vikas Grameena 58
Bank with Head Office at Dharwad. 2005 Implementation of Venture Capital Scheme of SMALL FARMERS AGRI-BUSINESS CONSORTIUM (SFAC) Entered into MOU with SFAC for promoting of investments in Agri-business products. 2006 Bank signs MOU with M/s.CMC Ltd., for making Syndicate Institute of Bank Management (SIBM) a center of excellence of global standards and provide quality management education. 2006 500th Branch of SyndicateBank in Karnataka opened at Navnagar, Bagalkot. 2006 2000th Branch of SyndicateBank opened at Tondiarpet, Chennai on 23.03.2006. 2006 Inauguration of SyndBank Services Limited, the 1st BPO outfit of a Nationalised Bank, a wholly owned subsidiary of SyndicateBank & 525th CBS Branch by Hon'ble Union Minister of Finance, Sri P Chidambaram on 24.03.2006 at Bangalore. 2006 2006th Branch of Syndicate Bank opened at Gangtok, Sikkim on 27.03.2006 2006 First Branch opened in Arunachal Pradesh at Ita Nagar on 16th October 2006 2006 Branches opened for the first time in 19 additional districts 2007 First Branch opened in Nagaland at Dimapur on 17.03.2007 2007 First Branch opened in Mizoram in Aizawl on 29.03.2007 2007 Branches opened for the first time in 13 additional districts 2008 First Branch opened in Tripura at Agarthala on 11.01.2008 2008 Branch network expanded to all States and UTs except Manipur & Daman Diu 2008 Branches opened for the first time in 6 new districts
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Pigmy Deposit Scheme - Bank's Brand Equity :
Launched in 1928 by Dr.T.M.A.Pai, one of the Founders to encourage the habit of thrift and small savings. Pigmy Scheme symbolises the description of the Bank as "a small man's big Bank" even today. Bank collects as low as Rs.5 daily for 72 months at the doorsteps of 10.36 lac depositors through its more than 4000 Pigmy agents. Pigmy deposits of the Bank crossed Rs.1800 crore.
Nationalization - Bank's Catalytic Role:
1961 Industrial Finance Department was set up to encourage advances to Small Industries and Entrepreneurs in keeping with the policy of assisting the common man. 1968 Bank's commitment to the philosophy of social lending since inception provided the spark for introduction of social control measures in the country . 32% of the Bank's branches were in rural areas as against 22% for the entire Banking system.
1969
Bank was nationalised on 19th July 1969. Bank was acknowledged as a live example of mass banking and as a powerful catalyst of social change. Nationalisation therefore merely meant change of ownerhsip. 1995 Established Hi Tech Agriculture Branches
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Pioneer In Rural Development : 1926 Established in a rural milieu to financially assist handloom weavers 1964 First Bank to venture into agricultural financing when the Banking system considered it risky and unconventional. 1966 Promoted Syndicate Agriculture Foundation - a voluntary organisation of farmers - to disseminate scientific farming techniques. 1967 Agri Card - a ready credit facility for farmers - launched. 1973 Bio Gas finance scheme introduced in collaboration with Khadi and Village Industries Commission to popularise non conventional source of energy. Farm Clinics established. 1974 Syndicate Farmers' Service Society was organised by the Bank in Hiriadka in South Kanara based on the recommendations of the National Commission on Agriculture. 1975 Sponsored the country's first Regional Rural Bank - Prathama Bank opened on 2.10.1975 - in Moradabad in U.P. Bank has so far sponsored 10 such RRBs which are all profit making and act as trend setters in energising the rural economy. After amalgamation there are now 5 Grameena Banks in 5 states, covering 30 districts 1982 Jointly sponsored the first RUDSETI (Rural Development and Self Employment Training Institute) at Ujire in Dakshina Kannada (Karnataka). There are 23 such Institutes in 14 States today providing free entrepreneurship training to unemployed youth. Intensive Rural Development branches established. 1989 Bank adopted Service Area Villages to bring about alround development. 1998 Kisan Credit Card launched 2000 In commemoration of Platinum Jubilee, Syndicate Rural Development Trust established (to 61
mark the Platinum Jubilee of the Bank) for pursuing rural development initiatives with initial corpus of Rs. 50 lacs. Opened 8 Rural Enterpreneurship Development Institutes at Manipal, Kumta, Bellary, Belgaum, Moradabad,Kadapa,Kurnool and Kollam. Scheme for financing Solar Water Heating system Launched. 2001 Syndicate Laghu Udyami Credit Card launched. 2003 SSCC: Synd Swarozgar Credit Card- A new product for financing Small Artisans, Handloom weavers, Fisherman, Service sector, Self employed persons, Rickshaw owners and other Micro entrepreneurs to meet working capital or block capital or both and also consumption needs has been launched. 2004 SKSCC: Syndicate Kissan Samrudhi Credit Card- A new product launched for meeting production and investment credit needs of farmers for agriculture & allied activities and also to meet their consumption requirements. 2005 Scheme for financing Commercial Horticulture Projects under the schemes of National Horticulture Board has been launched to encourage farmers to go in for diversification in agriculture essential for increasing their income level. Scheme for financing SC/STs for rainwater harvesting has been launched.
2006
SyndicateGeneralpurposeCreditCardlaunched. Scheme for financing tenant farmers: Two separate schemes have been launched to provide need based credit to tenant farmers through Joint Liability Group (JLG) approach as well as individual approach. 2007 "SyndSmallCredit"- an innovative scheme with doorstep banking facility to provide need- 62
based credit to entrepreneurs of small means. The product part of financial inclusion, by bringing all eligible entrepreneurs into bank's fold."Financial Inclusion:" Launched a campaign to achieve 100% financial inclusion. A booklet containing comprehensive guidelines to augment the process of total financial inclusion released."Water Conservation initiatives:" To promote Water Management and conservation measures among the villagers, Bank started initiatives for clearing and cleaning of village ponds in the selected service area villages.
TECHNOLOGY INITIATIVES
1965 Installed first Data Processing machine at the Head Office. 1985 ALPMs introduced 1987 In House Computer at H.O. upgraded to ICIM 6000/40 1991 Established connectivity to SWIFT 1993 First totally computerized branch made operational at Nehru Place Delhi 1995 E-Mail facility introduced at 26 branches 1996 First Tele banking facility introduced at South Block Branch New Delhi 1996 First ATM installed at Gandhi Nagar, Bangalore. 1997 Bank's website launched 1998 Joined Indian Financial Network (INFINET) and VSAT Network 63
2001 Centralized Banking Solution (CBS) under the brand name "Syndicate-e-banking" launched 2004 Internet Banking launched as one more Delivery Channel for CBS customers 2005 Syndicate-e-banking extended to 245 Branches/Offices as at 31.03.2005 covering 105 centers Synd Bill Pay Scheme & Excise and Service Tax payments scheme launched through Internet Banking 2006 Syndicate-e-Banking Branches/Offices extended to 529 in 212 centers as at 31.03.2006 2007 CBS Branches/Offices increased to 1508 in 801 centers and covering 91% of Bank's business as at 31.03.2007 101BranchescutovertoCBSonasingleday 51 ATMs commissioned on a single day 2008 CBS Branches/Offices increased to 1829 in 1033 centers. The business under CBS rose to over 95% as at31.03.2008 SMS Banking launched during January 2008
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Awards Won By The Bank Over The Years
1972 INDIAN MERCHANTS' CHAMBER AWARD for outstanding contributions towards welfare of community 1974 INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution in promotion of savings 1975 FICCI AWARD For outstanding achievements in agriculture 1975 LAGHU UDYOG SAHAKARI AWARD by the national alliance of young entrepreneurs for bank's significant contributions to the development of small scale industries and assistance to the young entrepreneurs through self employment clinics 1975 INTERNATIONAL AWARD by JAYCEE INTERNATIONAL for self employment 1975 FICCI AWARD in recognition of corporate initiative in industrial relations 1975 CERTIFICATE OF MERIT for Bank's house journal "GIANT" 1976 INTERNATIONAL AWARD by JAYCEE international for outstanding contribution to the cause of the JAYCEE movement 1977 ASSOCHAM AWARD for promotion of rural and agricultural activities of Syndicate Agriculture Foundation sponsored by the bank
1978
INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution towards welfare of the community 1978 NATIONAL TROPHY For outstanding export performance 1981 NATIONAL INVESTMENT AND FINANCE AWARD for Priority Sector lending. 65
1990 CHAUDHARI CHARAN SINGH MEMORIAL NATIONAL AWARD for Rural Development 1999 FICCI AWARD for institutional initiative in the field of "Rural Development" to RUDSETI jointly sponsored by Syndicate Bank 2001 Banking Technology Award for innovative use of Banking Applications on INFINET awarded by IDRBT, Hyderabad 2003 Banking Technology Award conferred on Syndicate Bank by IDRBT, Hyderabad for 2003 2006 "Special Award for Use of IT for Customer Service in Semi-Urban and Rural Areas", conferred by IDRBT, Hyderabad for 2006 2006 Best Core Banking Project Award for Large Banks in 2006 awarded by The Asian Banker 2009 Best Performer award by NABARD for Highest Average Loan Size under SHG -Bank linkage programme among commercial banks operating in Karnataka.
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MANAGEMENT TEAM: Board of Directors S.No Name Designation 1 Mr. Basant Seth Chairman and Managing director 2 Mr. A S Rao Director 3 Mr. Bhupinder Singh Suri Director 4 Mr. Hindupur Pradeep Rao Director 5 Mr. Ramesh L Adige Director 6 Mr. M Bhaskara Rao Director 7 Mr. A R Nagappan Director 8 Mr. Narendra L Dave Employee Director 9 Mr. Dinkara S Punja Employee Director 10 Mr. Ravi Chatterjee Executive Director 11 Mr. V K Nagar Executive Director (Table 3.1) Key Executives S.No Name Designation 1 Mr. Basant Seth Chief Executive Officer 2 Mr. R Ravi Company Secretary & Compliance Officer 3 Mr. S K Abrol GM (Accounts) & CFO
(Table 3.2) 67
Rate of Interest, Charges & Fees at a glance:
Rate of Interest - Deposits To know Domestic Deposit Interest Rates (latest) Please take a print of Account Opening Form - Common for all types of Domestic Deposit accounts Non-resident (External) Rupee Accounts (NRE A/cs.) - For Interest Rates Click NRE A/c Foreign Currency Non-resident Accounts (FCNR(B) A/cs) -- For Interest Rates Click FCNR (B) For premature withdrawal of term deposits, the interest will be paid at the rate applicable to the period for which the deposit remained with the Bank or at contracted rate whichever is lower, less penalty, as under : ============================================== Before completion of 15 days : No interest payable After completion of 15 days, : 1% upto and including one year After completion of 1 year : 0.5% ===============================================
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CHAPTER: 4 DATA ANALYSIS AND INTERPRETATIONS
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1. Which type of incentives motivates you more? a) Monetary incentives b) Non-financial incentives c) Both
(Table 4.1.1) Particulars No. of Respondents Percentage Monetary incentives 15 30 Non-financial incentives 9 18 Both 26 52 Total 50 100
(Chart 4.1.a)
4.2.1 INTERPRETATION:
The table shows that 52% of the respondents are expressing that both financial and non- financial incentives will equally motivate them, 18% are expressing non-financial incentives motivates and 30% respondents says we only motivated through monetary incentives only. 30% 18% 52% 0 10 20 30 40 50 60 Monetary incentives Non-financial incentives Both 70
Computation of Chi-square on the types of incentives motivates employees: Null hypothesis (Ho): there is no significance difference between two departments i.e. Human Resource and Finance department.
2 calculated = 1.43 Departments Monetarey Incentives Non-Financial Incentives Both Total HR 6 3 10 19 Finance 9 6 16 31 Total 15 9 26 50 71
Tabulated value of 2 for 2 degree of freedom at 5% level of significance is 5.488 (2 tabulated = 5.488). Conclusion: Since, 2 calculated value is less than 2 tabulated value (2 cal< 2 tab), therefore null hypothesis (Ho) is accepted at 5% level of significance and we may conclude that two departments i.e. (Human Resource and Finance) do not differ significantly.
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2. What factor De-motives you at work place? a) Job profile b) Company policy c) Work environment
(Table 4.1.3) Particulars No. of Respondents Percentage Job profile 14 28 Company policy 16 32 Work environment 20 40 Total 50 100
(Chart 4.1.b)
4.2.2 INTERPRETATION:
The table shows that 40% of the respondents are de-motives with work environment and 32% with company policy and 28% of the respondents are de-motives with job profile. From this it can be concluded that work environment and company policy are de-motives at work place. 28% 32% 40% 0 5 10 15 20 25 30 35 40 45 Job profile Company policy Work environment 73
3. How far you are satisfied with the incentives provided by the organizations?
a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied e) Highly dissatisfied
The table shows that 36% of the respondents are highly satisfied and 58% of the respondents are satisfied with incentives provided by the organization so we can conclude most of the employees are satisfied with the incentives provided by the organization. 36% 58% 6% 0% 0% 0 10 20 30 40 50 60 70 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 74
4. Does your Job improve your skills and abilities? a) Yes b) No c) Never
(Table 4.1.5) Particulars No. of Respondents Percentage Yes 32 64 No 10 20 Never 8 16 Total 50 100
(Chart 4.1.d)
4.2.4 INTERPRETATION:
64% of the respondents are agreed that their job improves their skills and abilities and 20% of the respondents agreed that their skills and abilities are not improves. It can be conclude that their job improves their skills and abilities.
64% 20% 16% 0 10 20 30 40 50 60 70 Yes No Never 75
5. Do you think that the incentives and other benefits will influence your performance? a) Influence b) Does not influence c) No opinion
(Table 4.1.6) Particulars No. of Respondents Percentage Influence 32 64 Does not influence 12 24 No opinion 6 12 Total 50 100
(Chart 4.1.e)
4.2.5 INTERPRETATION:
The table shows that 64% of the respondents those incentives and other benefits will influence their performance,24% respondents says they are not influence their performance and 12% respondents did not say any opinion. 64% 24% 12% 0 10 20 30 40 50 60 70 Influence Does not influence No opinion 76
6. Management is really interested in motivating the employees? a) Agree b) Disagree c) Neutral Particulars No. of respondents Percentage Agree 25 50 Disagree 18 36 Neutral 7 14 total 50 100 (Table 4.1.7)
(Chart 4.1.f)
4.2.6 INTERPRETATION: From the above table 50% of the employees are agreed that the management is really interested in motivating the employees and 36% of the employees are disagreed and 14% are neutral.So it can be concluded that management is really interested in motivate the employees in organization. 50% 36% 14% 0 10 20 30 40 50 60 Agree Disagree Neutral 77
7. Does the management involve you in the decision making which are connected to your department? a) YES b) No c) Occasionally Particulars No. of Respondents Percentage Yes 47 94 No 0 0 Occasionally 3 6 TOTAL 50 100 (Table 4.1.8)
(Chart 4.1.g)
4.2.7 INTERPRETATION:
The table shows 94% of the respondents agree that they the management involves them in decision making which are connected their department.
8. Do you enthusiastic about your work? a) Always b) Sometimes c) Never
Particulars No. of Respondents Percentage Always 15 30 Sometimes 30 60 Never 5 10 TOTAL 50 100
(Table4.1.9)
(Chart4.1.h)
4.2.8 INTERPRETATION: From the above table, we can conclude that 60% of the respondents agreed that they feel enthusiastic some times in their work. Always, 30% Sometimes, 60% Never, 10% PERCENTAGE Always Sometimes Never 79
9. Are you encouraged to come up with new and better ways of doing things? a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree
4.2.9 INTERPRETATION: From the above table we can conclude that 40% of the employees agreed that they are encouraging to come up with new and better ways of doing things.
10. Have you been promoted at work in the last six months? a ) Yes b) No
Particulars No. of Respondents Percentage Yes 18 36 No 32 64 Total 50 100 (Table4.1.11)
(Chart4.1.j)
4.2.10 INTERPRETATION: The table shows that 64% of the employees are not promoted from the last six months and 36% of the employees are promoted. From this we can conclude that most of the employees are not promoted. Yes, 36% No, 64% Yes No 81
11. Are you adequately recognized for your good work? a) Agree b) Disagree c) neutral
Particulars No. of Respondents Percentage Agree 28 56 Disagree 10 20 Neutral 12 24 Total 50 100 (Table4.1.12)
(Chart4.1.k)
4.2.11 INTERPRETATION: The figure shows that 56% of the employees agreed that they are recognized for good work and 20% are disagreed and 24% respondents are neutral.So it can conclude that most of the employees recognized by their good work.
4.2.12 INTERPRETATION: The table shows that 42% of the respondents are responding that the increase in salary will motivate them the most. 42% 30% 6% 10% 12% 0 5 10 15 20 25 30 35 40 45 Salary increase Promotion Leave Motivational talks recognization 83
13. Have you been nominated for training & development programmes for the last 6 months? a) Yes b) No
Particulars No. of Respondents Percentage Yes 30 60 No 20 40 Total 50 100 (Table4.1.14)
(Chart4.1.m)
4.2.13 INTERPRETATION: The table shows that 60% of the respondents are expressing that they are nominated for training and development programme in the organization for the last 6 months. 60% 40% Yes No 84
14. Does the management provide continuous feed back in solving work related problems? a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly Disagree
Particulars Number of Respondents Percentage Strongly agree 14 28 Agree 16 32 Neutral 9 18 Disagree 5 10 Strongly Disagree 6 12 TOTAL 50 100 (Table4.1.15)
(Chart4.1.n)
4.2.15 INTERPRETATION: The table shows that 28% of respondents strongly agreed and 32% agree that they are getting feedback from management and 20% are neutral and 10% are disagree that they are not getting feedback from the management. 28% 32% 18% 10% 12% 0 5 10 15 20 25 30 35 Strongly agree Agree Neutral Disagree Strongly Disagree 85
15. Overall are you satisfied with your job? a) Yes b) No Particulars Number of Respondents Percentage Yes 28 56 No 22 44 TOTAL 50 100 (Table4.1.16)
(Chart4.1.o)
4.2.16 INTERPRETATION: The figure shows that 56% of the respondents are satisfied with their job and only 44% of the respondents agreed that they are not satisfied with their job.It can be concluded that most of the respondents are satisfied with their job.
56% 44% 0 10 20 30 40 50 60 Percentage Yes No 86
CHAPTER: 5 SUMMARY & CONCLUSIONS
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FINDINGS The findings of the study are follows The SYNDICATE BANK has a well defined organization structure. There is a harmonious relationship is exist in the organization between employees and management. The employees are really motivated by the management. The employees are satisfied with the present incentive plan of the company Most of the workers agreed that the company is eager in recognizing and acknowledging their work. The study reveals that there is a good relationship exists among employees. Majority of the employees agreed that there job security to their present job. The company is providing good safety measures for ensuring the employees safety. From the study it is clear that most of employees agrees to the fact that performance Appraisal activities and support from the coworkers in helpful to get motivated. The study reveals that increase in the salary will motivates the employees more. The incentives and other benefits will influence the performance of the employees
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CONCLUSION
The study concludes that, the motivational program procedure in SYNDICATE BANK is found effective but not highly effective. The study on employee motivation highlighted so many factors which will help to motivate the employees. The study was conducted among 50 employees and collected information through structured questionnaire. The Study helped to findings, which were related with employee motivational, programs which are provided in the organization. The performance appraisal activities really play a major role in motivating the employees of the organization. It is a major factor that makes an employee feels good in his work and results in his satisfaction too. The organization can still concentrate on specific areas which are evolved from this study in order to make the motivational programs more effective. Only if the employees are properly motivated- they work well and only if they work well the organization is going to benefit out it. Steps should be taken to improve the motivational programs procedure in the future. The suggestions of this report may help in this direction.
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SUGGESTIONS The suggestions for the findings from the study are follows Most of the employees agree that the performance appraisal activities are helpful to get motivated, so the company should try to improve performance appraisal system, so that they can improve their performance. Non financial plans should also be implemented; it can improve the productivity level of the employees. Organization should give importance to communication between employees and gain co-ordination through it. Skills of the employees should be appreciated. Better carrier development opportunities should be given to the employees for their improvement If the centralized system of management is changed to a decentralized one, then there would be active and committed participation of staff for the success of the organization
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BIBLIOGRAPHY
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BOOKS REFFERED Wayne F. Cascio 2006, Managing Human Resources, TMH. Aswathappa, 2006, Human Resource Management, 4 th edition, TMH K.Aswathappa, 2006, Organizational Behaviour- Text, Cases and games, Himalaya Publishing House Curtis w. cook and Phillip L.Hunsaker, 2006, Management and Organizational Behaviour, Macgraw-Hill Irwin Jyothi P. and DN Venkatesh-2006, Human Resource Management, Oxford University press. HRM Review July 2010. by Dr.G C NAG Adjunct Professor, IBS Mumbai Abbegleen, H. (1974) Principles of Management: A Modern Approach. John Willey and Sons, London. Ajilola, E. (1975) How to Motivate the Nigerian Workers in Management in Nigeria Journal October Vol. 2, No. 6. Baker, J.M. (1991) Research for Marketing. Macmillan Educational Ltd., London. Campbell, J.P. and Pitchard R.D. (1976) Motivation Theory: Industrial and Organizational Psychology. McGraw Hill Books, New York. Dublin, R. (1974) Human Relations in Administration. Prentice Hall, Englewood, New Jersey. Georgopolous, B.S. et al (1957) A Path-Goal Approach to Productivity Journal of Applied Psychology Vol. 3, No. 4. Glueck, W.F. (1950) Management. The Dryden Press, Hindale, Illinois. Herzberg, F. (1959) The Motivation to Work (2 nd Edition). John Willey and Sons, New York.
Hodgetts, R. (1977) Introduction to Business. Wesley Publishing Company, Addison. 92
Lillis, G.C. (1958) The Satisfaction Performance Controversy Business Horizons. October Vol. 1 No. 16. Maduabrun, C.D. (1988) Motivation of Nigerian Civil Servants: A Historical Overview in the Quarterly Journal of Administration Vol. 22, No. 1. Maslow, A.H. (1954) Motivation and Personality, Harper and Row, New York. McCelland, D. (1953) Achievement Motive. Appleton Century Inc. New York. McGregor, D. (1960) The Human Side of Enterprise. McGraw Hill, New York. Michael, K.B. (1975) Introduction to Behavioural Science for Business.Willey Eastern New Delhi. Morris, V. (1953) Motivation and Morale in Industry. Norton and Co., New York. Obisi, C. (1996) Personnel Management. Jackbod Enterprises, Ibadan. Robert, D. et al (1969) Marketing Research and Information Systems: Text and Cases. McGraw Hill Inc. New York. Steers, R.M. and Porter, L.W. (1979) Motivation and Work Behaviour. McGraw Hill Book, New York. Tull, A. and Abaum, F. (1973) Research and Development for Managers. Withan Heinemann Ltd. London. Vroom, V.A. (1964) Work and Motivation. John Willey and Sons, New York. Walter, B.W. (1976) Marketing Research: Methods and Cases. Harper and Row Publishers, New York.
WEB REFERENCES: www.google.com www.syndicatebank.co.in www. motivationnaukrihub.com www. humanresources.about.com
1. Which Type Of Incentives Motivate You More? a) Monetary Incentives b) Non- Financial Incentives c) Both
2. What factor de-motivates you at work place? a) Job profile b) Company policy 95
c) Work environment
3.How far you are satisfied with the incentives provided by the organisation.? a) Highly satisfied b) satisfied c) neutral 4. Does your job improve your skills and abilities? a) Yes b) No c) Never
5. Do you think that the incentives and other benefits will influence your performance? a) Influence b) Does not influence c) No opinion 6. Management is really interested in motivating the employees? a) Agree b) Disagree c) Neutral
7. Does the management involve you in the decision making which are connected to your department? a) Yes 96
b) No c) Occasionally 8. Do you enthusiastic about your work? a) Always b) Sometimes c) Never 9. Are you encouraged to come up with new and better ways of doing things? a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
10. Have you been promoted at work in the last six months? a) Yes b) No
11. Are you adequately recognized for your good work? a) Agree b) Disagree c) Neutral
12. Rank the following factors which motivates you the most? 97
13. Have you been nominated for training & development programmes for the last 6 months? a) Yes b) No
14. Does the management provide continuous feed back in solving work related problems? a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly Disagree
15. Overall are you satisfied with your job? a) Yes b) No