Research project ( impact of employee motivation on job )

RESEARCH PROJECT“IMPACT OF EMPLOYEES MOTIVATION ON JOB”

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IN THE NAME OF ALLAH, THE MOST MERCIFUL & Beneficial,

The Master of Liberality & Beneficence,

The Gracious & Obligor,

The Granter of Peace & Security,

The Holy & above all Defects,

The Master of Wisdom & Manifestation,

The Master of Mercy & Satisfaction,

The Master of Argument & Proof,

The Master of Grandeur & Royalty,

The Kind & Helpful,

The Pardoner & Forgiver.....

UNIVERSITY OF THE PUNJAB GUJRANWALA CAMPUS

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SUBJECT:

RESEARCH METHODS FOR BUSINESS

TOPIC: RESEARCH PROJECT

SUBMITED TO:

SIR HAFIZ KASHIF

GROUP MEMBERS

Sana Suleman MC12137Memoona Imtiaz MC12108Sana Arshad MC12103Fatima-tu-Zahra MC12139Iram Ashiq MC12127Asma Khan MC12124


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Acknowledgement

Thanks and again thanks to Allah Almighty, who pulled us through the

times when every stone was turned against us. He and only He dawned

new horizons for us when the darkest fog made us blind, who is really the

Best Manager of the entire universe. Without His consent, nothing is

possible.

Thank You Allah Almighty.

Thanks from the recesses of our hearts to our to the Most Respected

Teacher, Professor Hafiz Kashif Iqbal for his Untiring efforts, His Valuable

Guidance and Precious Advices are rare Assets for Us.


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Preface:

The Present report is mainly intended for commerce department such as attempt has been made to explain in reasonably brief manner various aspects of Research & the impact of employee motivation on job. We feel deeply owned to our respectable teacher

Prof. Hafiz kashif , University of the Punjab Gujranwala Campus who always been a source of inspiration of us.


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INTRODUCTION PROBLEM STATEMENT PURPOSE OF THE STUDY IMPORTANCE OF THE STUDY

OBJECTIVES LITERATURE REVIEW RESEARCH DESIGN THEORATICAL FRAMEWORK QUESTIONNAIRE


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INTRODUCTION:

The topic which we have selected for our project is “the impact of employee motivation on job” because of its importance as employee motivation has always been a major problem for leaders and managers. The employees who are not motivated spend no efforts on their jobs. They usually avoid taking great interest in job, and also they consider the work as a burden which affects their quality of performance on job. On the other hand, employees who feel motivated to work are likely to be tenacious, creative and dynamic, turning out high quality work that they freely assume. There has been a lot of research on job motivation by different professors, scholars, academics and new features are viewed in every research. There are different ways to motivate the employees. Employers do many efforts and use new methods to motivate the employees so that they can perform their work well. The motivation is according to the needs and wants of the employees. The research study shows that how much monetary and non monetary incentives motivate the employees, and how employees value these incentives over the other ones.

To check the effect of employee motivation on job we have selected banking sector for our project. The Bank which we choose is the bank of Punjab.


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COMPANY INTRODUCTION

THE BANK OF PUNJAB:

First we will provide a complete detail about the bank of Punjab.

History:

The bank of Punjab was established in 1989, according to the bank of Punjab act 1986 and was given the status of retail bank in 1994.

The bank of Punjab was found by Tajammal Hussain and it functions as a scheduled commercial bank, with a network of 284 branches in major business centers throughout the country.

It provides the wide range of banking services, including deposits in local currency, client deposit in foreign currency, remittances, and advances to business, trade industry and agriculture.

BOP has emerged one of the foremost financial institutions in the country, focused on spurring an economic revival by endeavoring to meet the needs of tomorrow as well as today. Our extensive portfolio encompasses all facets of banking.

A wholly owned subsidiary of BOP First Punjab Modaraba (FPM) was established in 1992 and is being managed by Punjab Modaraba Services (Pvt) Ltd. There are many Basics Banking services provided named as Retail Finance, Retail Banking, Agriculture, and Corporate Banking as well as facilitating Commercial services so far. E-Banking is also there to ease the customer to take eye on their deposits over there in their Bank. Bank of Punjab is already Customer Focused Bank and always providing quality Services in Punjab Bank. All other Banks provides Agricultural Facilities own their own but only Bank of Punjab considered as facilitates more in this Bank as well.

Agricultural Facilities are named as Agri Finance Branches ,Kissan, Dost Running Finance Facility, Kissan Dost Lease Finance Facility, Kissan Dost Cold Storage Finance Facility, Kissan Dost Green House Finance Scheme, Kissan Dost Livestock Development Scheme and many other Agriculture Schemes Mark-up are there to gives their best in facilitating this sector own their own.


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Branches in Pakistan:

There are many branches of bank of Punjab in different regions of Pakistan.

Lahore central 1 region Lahore central 2 region Multan region Faisalabad region Lahore north region Lahore south region Gujranwala region Gujrat region Peshawar region Bahawalpur region

D.G khan region Rawalpindi region Jhelum region Sialkot region Shaikhupora region Bahawalnagar region Sahiwal region Jhung region Khushab region


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Karachi region

Mission statement:

“To exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programmed driven products & services in the Agriculture and Middle Tier Markets through a motivated team"

Vision statement:

"To be a customer focused bank with service excellence"

Services:

Trade finance:

The bank helps the clients to manage those risks which are associated with their international transactions.

Treasury:

The treasury services include foreign exchange, FX products, money market, treasury marketing etc.

Utility bills:

Lockers:

Collection of cheques:

Internet Banking:

After the original verification of customer the bank of Punjab offers the e-banking services to the client:

There are 4 steps to join the e-banking of bank of Punjab:

Fill out the e-banking application form Submit the form to your bop branch Get the registration code from your branch After having the registration code sign in to the following link:


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Managerial Hierarchy:

Departments:

Accounts department Remittance department Demand draft Payment order Clearing department Bill for collection department Advance and credit department


Chairmen

Executive committee

Chief executive officer

Executive in charge

Board of directors

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HRM Departments:

BOP is an organization that provides opportunities for its employees to have a demanding and satisfying long-term career. To this end the Human Resource Group (HRG) encourages and motivates its employees to do extremely well in the responsibility that they have in the organization .It believes that originality and innovation comes from talent, knowledge and experience and it is BOP’s try to provide and maintain an environment which not only nourishes these strengths but also provides opportunities for the staff to have a career which has multidimensional growth opportunities.

In doing so, HRG has been reform and redesigning the overall structure of the organization, which includes good reason, cutting down the decision layers, improvement in staff training and hiring professionals and MBAs at entry-level management.

Incentive system:

The following is the list of incentives offered by BOP:

BOP has a pay for performance system certain targets are assigned in the beginning of year and reviewed quarterly when employees are told where they stand and how they can improve themselves.

If the employees meet the targets they are given addition for the performance like 20% of base salary. These increments vary year to year according to the policies of the bank. Career planning is an important incentive that is given much importance at the BOP for the purpose different courses, workshops are organized and the bank also bears educational expenses of employees if they want to get more education. When employees get further education they are promoted according to their new level of knowledge. So promotions are not the part of annual general meeting.

Job rotation is another incentive offered at BOP. Job rotations are offered not only to increase the know-how and knowledge of the employees but also not to make them sluggish.

Certain insurance policies are also provided to employees like medical insurance, life insurance. Employees are paid for every treatment they are even send abroad for better treatment. Loans on easy installments are provided to employees for the car, home etc.

The bank offers three regular bonuses. One is annual bonus that varies according to the profitability of the bank and other two bonuses are given on first of Ramadan and on EID-UL-ADHA. These two bonuses are of fixed amount.

Certain rewards are given on the performance of employees these are monetary as well as non monetary rewards like certificates, mobile phones, small gifts etc.


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PROBLEM STATEMENT:

“Problem statement is a statement in which focusing on some variable. It provides opportunity to establish why these variables are important”.

There is the more need to research on motivation, goal is that what employees is to perform at their best and achieve the objects or not in a specific time. In this the problem is that many of the employers who don’t work for everyone have struggled for different incentive programs to motivate their employee. This is the problem which is faced by the many employees of that company.

In problem statement, currently problem must be exist in that organization and the manager should need to be improved in that organization.

Motivating is the major component of management. Many of the mangers of that company do different things for example: production, sales prices, performance and etc. the problem statement of the research is:

Why the incentives not for everyone why only for employees?

Why work of the human resources department is not performing well in that organization?

Why the bank not introducing the new products, bank boost the development of product and increase the range of facilities so that the rate of interest increase on various product?

How motivational incentives impact to the employee at their best optimal business result?

PURPOSE OF STUDY:

In purpose of study we define the aim or purpose. The purpose of our study is why the incentives are provide only the employees. We should define the characteristics of all variables which we selected. With the help of these variables we make the hypothesis and the certain relationship testing.


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MOTIVATION OF STUDY:

The motivation of study is that data collected from the different branches of the bank of the Punjab and the study on the employees of that bank. In this bank 45 employees are worked in this bank and fill the questionnaire during the period of two weeks. We were visited in different branches of bank every day and the employees of those branches were requested that questionnaire must comprise on 15 different questions. And the different scales should be used in questionnaire like nominal scale, ordinal scale, interval scale and ratio scale. These scales which is used to find or analyzed the result. The questions which is used in questionnaire must be related to the monetary and non-monetary incentives, values of incentives and etc.

IMPORTANCE OF THE STUDY:

In importance of the study we used the two approaches for find the employee motivation first is conducting the interviews of the employee and the second is to fill the questionnaire from the employees of the different banks. We analyze the detail of different incentives systems and get the other information related to the motivation of employees. After that we give the some suggestion and recommendation.


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OBJECTIVES:

Objectives must be clear and understandable. We must clear understanding about the inspiration and motivational incentives. How to receive the high rate of interest. To understand how the requests of incentives is effective in a bank. Must be understand the relationship between motivational incentives and the

performance of the employees.

LITERATURE REVIEW

DEFINITION:

“A literature review is a step-by-step process that involves the identification of published and unpublished work from secondary data sources on the topic of interest, the evaluation of this work in relation to the problem, and the documentation of this work”.

AUTHOR’S Michael R. Bowers, (Assistant professor of marketing at the University of Alabama at Birmingham.), Charles L. Martin, (Assistant professor of marketing at


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The Wichita State University, Wichita, Kansas.), AlanLuker, (Assistant director of marketing at Baptist Medical Centres in Birmingham, Alabama.)

Offers the new product to the employees so in this way manage the good relationship between employees and customers. If the quality and rules good of any organization than the motivation of the employees also increase. The values of services play a vital role for increasing the motivation among the employees. So in this way the satisfaction also increase. At the end we suggests that if any organization developing the high quality services with lower cost so in this way also increase the motivation of the customers.

AUTHOR (GRANT, PHILIP C)

To increase the employee’s motivation, employees of that organization must be achieved higher result with higher satisfaction. To achieve some rewards we must focus on work.

College of Business, University of Illinois at Urbana-Champaign, Champaign, IL 61820, United States

Motivation, opportunity and ability are the three kinds which help to make the frame work.

MOTIVATIONAL TECHNIQUES:

Peoples believe that they obligate their work in a good way. But on the other side some peoples who work do as much as they do. Motivation provides us higher profit, productivity and success.

Dr.kushel, author and professor, write on his book is there is the many variables are involved in motivation. There are three variables used in motivational techniques and these variables are there:

MOTIVATION STRENGTH

DURATION

CONTEXT


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VALUED

Motivation strength is show that work for his or her loots. If the employer provide the incentives to their employees don’t means the employee can’t work for the employer. Motivation also called intensity, strength and etc. Motivation intensity show that how the person is strongly. It depend on the peoples how they motivate highly or less. Peoples must be answers some questions like “what in it for me?”

What the duration for motivation is that question it may be a longer or shorter. Due to the durability recurrent rewards are stronger. Someone who expect the reward but he don’t know how the treat this reward. Possibly it has to do with the doubt or the wonder factor of the incentive.

Contextis the third variable and this variable show the time, place and the way to deliver the rewards. Context also relates the culture of any organization.

Values is more important for every culture of any organization. Without the values no one can achieved the motivation. There is no commitment among the values of any organization. In values two strengthen are included:

NEGATIVE STRENGTHEN

POSITIVE STRENGTHEN

Negative strengthen provides us the highly de-motivating result. This is used for long term period for setting business. Negative strengthen include punishments, admonishments, docking or withholding pay, stopping vacations, removing freedoms, and showing dislike for or ignoring the performer. De-motivation is worse than no motivation at all.

Positive strengthen works better as compare to the negatives strengthen. Positive strengthen include gratitude, adoration, praise, better working conditions, money, paid vacations, fringe profits, prizes, etc.

HOW CAN YOU INCREASE EMPLOYEES MOTIVATION?

MANGERIAL ACTION FOR INCREASE MOTIVATION:

Motivation method varies from person to person so it can be achieved by different methods among the employee. It is therefore important to know that factors, so that after identifying that factors we can implement them. Employee appraisal is introduced for it.


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If there are small numbers of employees then it becomes very easy to know the problem of them and to handle that problem also become easy. They even have an idea how they can motivate the employees to improve the performance and motivation. They even not to have used any specific process to check that factors and these can also be used for all employees.

If there are numbers of employees then it becomes difficult to know factors and to handle the workers at one time. For it different tasks are assigned to the mangers assistant managers or to supervisors to check the motivation of employees.

Financial Incentives:

Financial reward is a method through which the motivation of employees can be increased. For it all those employees of employees are focused who are involved in production and rewards given to them as a unit and paid also according to the produced units. It can be imposed to them to produce high quality units and increase in numbers of units will increase the reward because the customers are attract only by good quality and quantity.

Non-financial incentives:

Money is not everything, so it is not much more effective to know the motivation of employees it can only be short term. Employees can also focus on some other points and factors are concerned to it.

We can increase the motivation of employees by giving them good responsibilities. So that, they can feel good and valuable to their selves. And also if it is announced that if the performance will be better as compared to earlier and reached it on the standard set by organization then they will be awarded with special bonus.

It is all because they can improve their efficiency by it.

Following points are also be used at some degree to improve it.

JOB ENLARGEMENT:

It means to give the opportunity to do the work completely instead of a part of it. It removes there repeaters of the activity which cause of boring and dull working.

It can be asked to employees to produce a whole product instead of making a part of it. It will be considered full task and can be completed full task and can be completely easily. Interesting and in less time.

JOB ROTATION:


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It means to move an employee from one place or department to another .the work duration can be divided in period of one week set up and one employee will work in marketing department, in admin and so on in others and the back towards its real job. It will increase his experience and self-confidence. This will be an organizing process and really good.

JOB ENRICHMENT:

Same as we can use the techniques an enlargement it is also a method by which employee’s motivation can be achieved. In it the working levels increased in same working condition

For example:

Manufacture of product and producer, produce goods. And it can be assigned to him to make order for production or make marketing of that products for production department.

This will improve the skill of workers and feeling of responsibility will be increased the implication of Maslow’shierarchyof needs

Existence of anything contribute a lot towards the satisfaction, so for this purpose before going towards to make improvement programme about the cash or any monetary form. It is not necessary to make its physical shape for the satisfaction so that they can gain tangible evidence of their work

Mostly the incentive program depends on the behavioral model which a psychologist

F skinner explained.

This model shows who positive attitude and positive work effect on the behavior of employee individually.

This positive process help the organization to achieve its goal and the required results are found by it.

By changing the behavior every employee or work comes to know what his duty is and how he has to complete it. For this purpose and improvement constant feedback is necessary.

Research methodology:

1. Purpose of study:

2. Type of investigation


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3. Study setting

4. Unit of analysis

5. Time horizon

6. Sampling size

7. Data collection method

8. Field work

Purpose of study:

The study which is made by us is descriptive in nature. It is made to know the characteristics of the variables selected by us. It is also made to check the hypothesis.

Type of investigation:

Investigation conducted by us is correlation one. Because we identified and discussed

the variable dependent as well as in dependent.

Study setting:

The study we made in Punjab bank is a field study because it is done in natural environment. Nothing is hidden or ignored in it. All the points are discussed clearly.

Unit of analysis:

Unit of analysis taken by us for the analysis of our project “employees”. Because all the questionnaire are filled by them and their problems will leave impact on it. So individual person is unit of analysis.

Time horizon:

Study is cross sectional as the data is only being collected once.

Sampling size:

Random sampling method is used by us. The sample size taken by us is of 50 workers among them were 15 female and 35 were male, from all branches of Punjab bank Gujranwala.

Data collection method:

The primary method of data collection adopted by us is “questionnaire”. A detailed questionnaire about motivational incentives has been made to found the


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required result. For evaluation and getting information, different types of instruments are used like likert scale, ordinal scale and ratio scale.

Field Work:

Data was collected through questionnaire by personally visiting the different branches of Punjab Bank of Gujranwala. The visited branches include:

Regional Head Office Branch

Setilitetown branches Gujranwala

Model town branch

RESEARCH METHODOLOGY

The study conducted is Descriptive in nature. It is also hypothesis testing because we are testing certain relationship as well. . It is under taken in order to establish and be able to designate the characteristics of the variables of attention in a situation. Descriptive study are under taken in organization to learn and describe the characteristics of a group of employees.

TYPE OF INVESTIGATION:

Type of investigation being conducted is correctional one, as the relationship between the variables has to be identified the investigation whether a causal or a correlation. The study associated with cause of more than one problem called causal study and study associated with problem is correlation study.

STUDY SETTING:

Punjab Bank the study is field study as it is co-relational study done in natural environment. None of the factors were manipulated or kept under controlled environment. Studies conducted to establish cause and effect relationships using the same natural environment in which employees normally function are field experiment.

UNIT OF ANALYSIS:

Unit of analysis are the employees. It refers to the level of aggregation of the data collected during the subsequent data analysis stag. Unit of analysis are the employees. As they and their responses fill the questionnaires will affect the problem statement. So unit of analysis is individual’s.


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SAMPLING SIZE:

The sample size should be reliable estimates and reflects the population parameters are closely as possible within a narrow margin of error. The method of sample taking adopted by us was the Random sampling. The sample consists of 54 employees comprising of 41 males and 13 females from all branches of the bank of Punjab in Rawalpindi and Islamabad.

DATA COLLECTION METHODS:

The primary method of data collection for this particular study is questionnaire. A detailed questionnaire regarding all aspects of motivational incentives has been developed. Varied instruments are being used in this research for evaluation of collected information. Three distinct kinds of statistical scales have been utilized in the questionnaires that are Liker scale, Ordinal scale and the Ratio scale.

FIELD WORK:

Data that is collected from different places and data that is collected from questionnaires by personally visit different branches of the bank of Punjab of Pakistan in different cities

Location/Address: F-10 markers Islamabad.

Phone number: 051-2298264

Website URL: http://www.bop.com.pk

Email: [email protected]

Gul-e-Aqra Plaza Branch,

Murree Road,


mailto:[email protected]

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Rawalpindi

Theoretical Framework


Monetary Incentives

Productivity of EmployeesNon-monetary

Incentives

ValueOf

Incentive

Incentives

Motivation

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VARIABLES OF INTEREST:

Dependent Variable:

Productivity of employees

Independent Variable:

Monetary and non-monetary incentives

QUESTIONNAIRE

Respected Respondents:


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We, the students of M.COM at University of Punjab Gujranwala campus are struggling on the project of research. And for that we need your opinion about the topic “impact of motivational incentives on employee’s performance on job”. This is purely academic testing and all your responses will keep confidential. Your unbiased responses will be appreciated.

Questions

Strongly Agree

Agree NeutralDisagree

Strongly Disagree

1. Monetary and non monetary incentives both are equally essential for motivating the employees?

2. Is money enough to motivate employees?

3. How do incentives impact an employee's motivation to work?

4. How effective are awards such as "employee of the month"?

5. Clear path for career advancement leads to better productivity?

6. How can employers improve incentive systems in the workplace? Employee needs assessment Employee participation Changing incentives

periodically All of above

7. In thinking about the variety of tasks your position requires, would you say that there are: Too many Enough


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Not enough8. Training and development programs help an employee enhance performance on the employee.9. Do employees lose motivation due to less value for incentives?

10. Which of the following incentives motivate you more rank from 1 to 7? Where 1 is for least preferred and 7 is for most preferred: Bonus Award prizes Job rotation Job enlargement Job enrichment Career planning Company sponsored

International trips

11. Do employees support company paid foreign trips rewarded as an incentive for showing up to mark performance?12. There is a consistent and equitable system of rewards.

13. Employee feel motivated when management expands his network of duties.

14. Assigning authority in one's work is actually an important reward.

15. Employee shows more interest in work if they are assured of incentives being


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delivered as announced. 16. Do rotation of employees in various departments to make him familiar with multiple tasks act as an important motivation tool to improve performance?17. What specifically will motivate employees to perform at their peak? Monetary Incentives Non monetary incentives Both of above None of above

18. What is the most valued incentive for an employee and why?

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Research project ( impact of employee motivation on job )

Economy & Finance

Transcript of Research project ( impact of employee motivation on job )