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INTRODUCTION

INTRODUCTION

Sometimes, simply receiving a paycheck is not enough of an incentive to keep employees dedicated and focused. Managers must think of new ways to hold an employee's attention and interest on a project, or the company as a whole. Many companies employ motivational tactics and rewards systems, both of which have advantages and disadvantages.

Motivation

Companies use both positive reinforcement and negative reinforcement to motivate employees. Many managers believe that using positive motivation techniques encourages employees to produce more and better quality work. For example, some companies select an employee as "Employee of the Week." This technique praises the winning employee, while positively encouraging other employees to keep trying to do well. Other managers believe negative reinforcement motivates employees to stop bad behavior. For example, a company may issue a written-warning system, or threaten employees with termination to get them to perform a certain way.

Rewards

Companies reward their employees with both tangible goods, as well as praise. For example, a sales department may offer a monthly bonus to the highest earner. Not all tangible rewards come in the form of money. Some companies host free lunches, or give away company gear to good workers. Many managers choose to reward their best employees by simply praising them for a job well done, or by recognizing the hard work they put in to a project.

Advantages

By using positive reinforcement to motivate employees, a manager may build a good relationship with his employee that fosters a sense of trust. In a good manager-subordinate relationship, employees may feel respected and comfortable in their working environment. Providing rewards, both tangible and in the form of praise, can make employees happier. Happier employees often perform better at work.

Disdvantages

Using negative enforcement as a form of motivation could cause employees to become dissatisfied with their jobs. Unhappy workers typically produce less quality work, become sluggish or fail entirely to meet deadlines . Applying too much motivation or offering too many rewards can also have a negative effect. Employees can become over-confident. They may feel that they are the bosses' favorite workers, even if they start to slack off on their projects or test the limits of their working relationship with their supervisors.ROLE OF REWARD IN MATIVATING EMPLOYEES

Many employees are motivated by two goals: earning a paycheck and doing work that makes them proud. The offer of an additional reward gives an employee that extra motivation to go above and beyond. Some rewards may cost money, whereas others are investments in time and effort. All can contribute to a more pleasant work environment.

Incentive

Employees must know that hard work and a high level of achievement will be rewarded financially. According to Microsoft's Business website, a policy that offers incentives in exchange for achievement can motivate all employees to prove their worth. When worker productivity goes up, the bottom line often increases far in excess of the monetary rewards distributed.

Uniting the Team

Employees are motivated by a workplace atmosphere of mutual respect. A reward emphasizes your respect for your employee and encourages fellow employees to show respect to each other. When the team is united, the lines of communication are open, and employees are likely to share good ideas and put forth additional effort in the interest of the company's success. The Business Research Lab points out that rewards motivate employees to see the company's mission as their own. Instead of working for his own financial benefit, an employee who is amply rewarded is more likely to personalize the company mission.

Employee Retention

An employee who has been rewarded is often more motivated to remain with the company. It can cost a business quite a bit to deal with the loss of old employees and the training of new ones. Rewards, given to employees who are considering leaving the company, may increase your employee retention statistics and decrease your long-term training costs.

Self-Motivation

A good manager can encourage an employee to work harder and better from time to time, but a reward can go a long way toward building employee self-motivation. According to Carter McNamara, writing for the Free Management Library, the most effective rewards are tailored to an employee's needs. When deciding what kind of rewards to give to employees, think of their needs. An employee with children, for example, may be highly motivated to achieve more in the workplace if you offer him additional time off to spend with his family.

NON MONETARY REWARD SYSTEMCompanies use reward systems as an incentive for employees to maximize their work productivity and quality. Nonmonetary reward systems emphasize the importance of recognition among peers and workplace perks that do not involve money. Nonmonetary reward systems are beneficial to companies with limited budgets that operate on slim profit margins.

Purpose

Nonmonetary reward systems are meant to increase employee performance and motivation and bolster self-esteem in the workplace. Nonmonetary reward systems tend to increase productive competition among employees striving for the reward, resulting in gains to the company's bottom line. To be effective, nonmonetary reward systems must be fair to all employees and avoid favoritism. If employees view the rewards as skewed or unattainable, they might lose motivation toward their job and refuse to participate.

Benefits

Nonmonetary reward systems mostly benefit the culture of the company and the company's bottom line. When rewards for performance are not based upon money, the culture of a company tends to value recognition instead of the drive for money. Simultaneously, companies that use nonmonetary reward systems spend less money motivating their employees and more money on other areas of the business. For instance, spending money on trips, bonuses, gift cards and any other monetary reward takes money away from net profit.

Disadvantages

High-performing employees that value money and other monetary perks might find that nonmonetary reward systems lack the incentives needed to bolster motivation and increase their productivity. Not all employees value handwritten notes or walls that display the employee of the month. Some employees might also feel that their company is not willing to pay for their hard work. Additionally, if a competing business offers monetary rewards to its employees, the company that offers nonmonetary rewards risks losing employees to the competition.

Examples

One of the simplest forms of nonmonetary rewards is public recognition for company achievements. If an employee performs exceptionally well at her job, a company can gather its workers around the employee for a round of applause in her honor. The employee receives a boost of self-confidence for the gesture and recognizes that her contribution makes a difference. Additionally, a company can write letters of gratitude to employees, offer refreshments and create an employee recognition wall.

EMPLOYEE MOTIVATIONOne of the major issues faced by human resource departments and specialists is the issue of motivating employees. In the workplace, motivation is a primary factor when it comes to getting work done. No matter how skilled the workers in any specific department may happen to be, the goals of the supervisor will not reach the desired levels of success and timeliness if the proper employee motivation is not in place. But how, exactly, is motivation supposed to be instilled in the work force? Is employees eagerness to get the job done a natural quality that should be relied upon, or must employee motivation being structurally imposed upon the workforce? Those are good questions that deserve a solid understanding of how to proceed in order to find the answer that best fits your human resource management scenario. In its capacity to answer these fundamental questions, the task of any human resources specialist or team of consultants becomes a bit complex. Thats because not every worker is the same. While some have a self-starting approach to every job at hand, other employees may need an extra nudge in the right direction before results can be expected. Fortunately, however, employee motivation is proven to work in nearly every case when the right stimuli are added into the mix. While the fast-acting techniques that are known to motivate employees are most needed among those who require higher levels of motivation in order to get work done, the practice of well-administered and objective-producing incentive enhancement is actually well advised for employee at all different levels of inherent motivation. Even the natural go-getters respond well to motivation techniques. In fact, many of these employees have, unfortunately, often been neglected as human resources, departments focused more on those with lower levels of motivation. The outcome has been increased frustration among those who give it their all but end up feeling as if theyve been given the short end of the stick in return. Therefore, the best-applied motivation policy is universal. By creating a standardized, incentive-based system of rewards for job performance, employees will, as a whole, generally respond quite well to motivation for high level goals.

The Importance of MotivationMotivation can have an effect on the output of your business and concerns both quantity and quality. See it this way: your business relies heavily on the efficiency of your production staff to make sure that products are manufactured in numbers that meet demand for the week. If these employees lack the motivation to produce completed products to meet the demand, then you face a problem leading to disastrous consequences. The number of scenarios is extreme but you get the general picture.

Your employees are your greatest asset and no matter how efficient your technology and equipment may be, it is no match for the effectiveness and efficiency of your staff.

Motiva0tion involves getting the members of the group to pull weight effectively, to give their loyalty to the group, to carry out properly the purpose of the organization. The following results may be expected if the employees are properly motivated.

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

5. themselves and between the workers and the management will decrease.

6. The number of complaints and grievances will come down. Accident will also be low.

7. There will be increase in the quantity and quality of products. Wastage and scrap will be less. Better quality of products will also increase the public image of the business.

Motivational Techniques

Various theories of motivation discussed above have implications on management practices .in applying motivational theories at work place. Applying motivational theories at work place, both intrinsic and extrinsic aspects of the job must be considered. Intrinsic factors are directly related to the contents of job whereas extrinsic factors are related to the environment in which the job is performed. Some of the motivational techniques that can be used by managers are:-

Motivational job design

Quality of work life

Financial and non- Financial incentives

Motivational job design:-every employee spends a significant amount of his time at the work place executing the tasks, activities and duties involved in jobs. Traditional job designing produced job alienation resulting into monotony, boredom, meaninglessness, powerlessness and absenteeism.

1) Individual Financial Incentives:-

Performance based pay:-

Performance based pay is provided by same organizations to managerial personnel whose contribution cannot be measured quantitatively on day to day basis. Annual pay increase of such employees is determined on the basis of performance.

Productivity:-

Linked incentives, managements of several organizations provide productivity linked incentives to workers in the production department whose out put can be measured quantitatively.

2) Collective Financial Incentives:-

Profit Sharing:-

Profit sharing is an arrangement by which employees receive a share of the profits of the organization.

Co partnerships:-

Under the co partnership employees become shareholders of a company and may exercise control over it as other shareholders do.

Stock option:-

Under this scheme, employees are offered shares of a company in such a way that they enjoy long-term benefits due to appreciation in share prices with the progress of the company.

Retirement Benefits:-

Managements of several organizations offer retirement benefits of different types of their employees.

a) Provident fund scheme:-

Under the scheme employer as well as employees contribute certain percentage of salary of employees to a common fund which is refunded to the employees on their retirement from the job along with a reasonable interest from Provident Fund Authorities with whom the fund is saved.

b) Pension scheme:-

Under this scheme employee is given a certain percentage of his wages or salaries after the retirement of employee from the job.

c) Gratuity:-

Under scheme on ex-gratia payment acknowledging the long tenure of service is made by the employer to his employees.

Non-Financial Incentives:-

Though a man hankers after money and it is an important motivator, it is not the only motivator and it is not always motivator. After satisfying primary and secondary needs of a man and after raising his standard of living, it ceases to work as a motivator. Its is observed that in spite of satisfying wage rate, bonus schemes and retirement benefits may employees do not take interest in their work.

1) Individual Non-Financial Incentives:-

Status:-

Status, in the organizational context means the ranking of position, rights and duties in the formal organizational structure. Status is a strong motivator as it is extremely important for most of the people. Companies relate the status of employees their abilities and aspirations.

Promotion:-

If promotions to higher positions are given to employees on the basis of merit, skill, sincerity and abilities employees strive hard to give what is best of them. Thus promotions to de serving candidates motivates employees to higher their performance.

Responsibility:-

People can also be motivated by entrusting them with higher responsibility. The employees feel that the management has imposed its confidence in them and they must prove to be worthy of such confidence by shouldering higher responsibility. This assignment of higher responsibility also works as an incentive to individuals. Making job pleasant and interesting:-

Managements design the job to make them more enjoyable and pleasant through the satisfaction if their instincts. It creates interest in work and motivates the employees to perform better. Job enlargement and job enrichment techniques make the job more pleasant and interesting.

Recognition of work:-

A worker gets satisfaction when his work is appreciated by his superior. Praise, acknowledgement and recognition for the work done is a strong motivation for the employees. Praise can do what money cannot do Recognition means acknowledgement with a show of appreciation. When such recognition is given to the work performed, the employees feel motivated to perform work at similar or even higher level.

Job-security:-

Employees with a sense of security of job show keen interest, enterprising initiative and produce better results as they know that their welfare is closely related to the welfare of the organization. They stop worrying and concentrate on work.

2) Collective Non-financial Incentives:-

Social Importance of Work :-

Some organizations like banks, insurance companies, railways etc. may motivate the employees by convincing them about the social worth of their service.

Team spirit:-

Team work is a coordinated action by a comparative small group is regular spirit where in members contribute responsibility and enthusiastically towards the team task.

Informal groups:-

When employees work together they develop a sort of affiliation among themselves. They create some informal groups at work place.

Determinants of Motivation

Traditionally it is believed that employees are motivated by the opportunity to make as such money as possible and will act rationally to maximize their earnings. The assumption is that money, because what it can buy, is the most important motivator of all people.

Three types of forces generally influence human behavior

Forces operating within the individual,

Forces operating within the organization and

Forces operating in the environment.

The Individual: Human needs are both numerous and complex. Some of the needs cannot be described and identified because people hide their real needs under the cover of socially accepted behavior. Further, each person is different and a variety of items may prove to be motivating, depending upon the needs of the individual, the situation the individual is in and what rewards the individual expects for the work done. It is the duty of the manager to match individual needs and expectations to the type of rewards available in the job setting.

The Organization: The climate in the organization must be conducive to human performance. Climate plays an important part in determining workers motivation. The climate in an organization is determined by a number of variables such as its leadership style, autonomy enjoyed by members, growth prospects, emotional support from members, reward structure.

The environment: A worker does not live in two separate worlds, one side the factory and the other outside it. The troubles and pleasures of off-the-job life cannot be put aside when reporting for work in the morning, nor can factory matters be dropped when returning home after work. Culture, norms, customs, images and attributes accorded by society to particular jobs, professions and occupations and the workers home life- all play a strong motivational role. The factors such as social status and social acceptance play an important role in shaping the motivations of people.

2.1.4 Process of Motivation

1. Identification of need

2. Tension

3. Course of action

4. Result Positive/Negative

5. Feed back

Objectives of Motivation

1. The purpose of motivation is to create condition in which people are willing to work with zeal, initiative. Interest, and enthusiasm, with a high personal and group moral satisfaction with a sense of responsibility.

2. To increase loyalty against company.

3. For improve discipline and with pride and confidence in cohesive manner so that the goal of an organization are achieved effectively.

4. Motivation techniques utilized to stimulate employee growth.

5. For the motivation you can buy mans time. Physical presence at a given place.

6. You can even buy a measured number of skilled muscular motions per hour or day.

7. Performance results from the interaction of physical, financial and human resource.

8. For the achieve a desire rate of production.

Basic Characteristics of Motivation

Effort. This refers to the strength of a person's work-related behavior.

Persistence. This refers to the persistence that individuals exhibit in applying effort to

their work tasks.

Direction. This refers to the quality of a person's work related behavior.

Goals. This refers to the ends towards which employees direct their effort.

Type of motivationMonetary motivation

Overview: The value and importance of creativity has been well established in the business world. The effective fostering of creativity, however, remains a somewhat elusive goal for most organizations. Using the context of product design, we examine three factors that are likely to have an important influence on the creativity of new product ideas: intrinsic motivation, monetary rewards, and the accessibility of creative thinking skills. We present and test a conceptual framework explaining the differential and interactive influences of these factors on the two essential components of creativity - the originality and the usefulness of the end design. Further, we identify effort and enjoyment as two variables mediating the effects of intrinsic motivation and monetary rewards on originality and usefulness. The findings are integrated into a discussion that clarifies the role of these factors in producing creative outcomes and highlights their potential in the new product design process.

Monetary Bonuses and Incentives versus Gifts & Awards:

Research on what employees value for rewards and recognition indicated a monetary reward only ranked 12th in a list of items important to employees. It is true, we all need money for the expenses of day to day living but studies indicate that when employees receive a monetary bonus it is typically used to pay bills, expenses or purchase something that the employee needs, not some thing they truly enjoy. Consequently money becomes a very in-personal gift.

Conversely, if you want to give a very sincere gift that not only says thanks but will help create the loyalty, dedication and motivation you would like your employees to have, consider a gift or award that will touch them personally. Something they will truly enjoy and use or some thing that brings them pleasure in their leisure or family time.

Please see What Employees Want on our main menu under Recognition for more information on this subject.

Effective Non-Monetary Motivation Ideas

The economic downturn has put a great deal of pressure on employers to find creative ways to motivate employees. Gone are the days of quarterly bonuses, performance-based pay raises, and other financial incentives that once kept noses to the grindstone. Motivating without money is a challenging task, but it can be done with the right combination of leadership and management skills.

While money is one of the proven ways to motivate employees, there are also other ways to encourage your team to put their best foot forward. Here are three non-monetary motivation techniques that are geared toward personal recognition and satisfaction.

Paid Time Off

Your business expects to expend a certain number of dollars for payroll. One method of non-monetary motivation is to create an incentive program that allows employees to earn paid time off. For example, you could offer a paid day off to the sales associate who generates the most revenue in the month of July. A paid day off is a miniscule cost to your business, and it is one of the excellent ways to motivate a sluggish sales staff.

Space and Status Motivation

You can use the space in your workplace and the status of your employees as a form of non-monetary motivation. For example, in recognition of excellent customer service, you might consider designated a special parking spot (one that is close to the front door) to be awarded each month to an outstanding employee.

If you have a recently vacated corner office, you can host a contest to see who can generate the most sales, who can go above and beyond the call of duty to solve a problem, or who exhibits perfect attendance. These are simple events to coordinate, and employees will enjoy the spirit of healthy competition. Having access to special spaces on the company property enhances their feeling of accomplishment. These types of rewards are fast and easy ways to start motivating without money.

Share the Company Perks

Does your company receive incentive rewards from customers and organizations in the community, such as tickets to concerts, free t-shirts, movie tickets or gift cards to local restaurants? Perks like these are among the greatest forms of non-monetary motivation. Your company receives these items at no cost, and you can turn them into rewards for employees by passing them onto your workforce. Perhaps you want to recognize a manager for excellence or a sales person for customer service. Sharing the company perks is a way you can start motivating without money, and your employees will truly appreciate the gesture.

The economic downturn has most likely had a negative impact on morale in your workforce. Motivating without money will become a necessity to keep your team engaged and active. Its important to develop a creative approach and find ways to motivate without dipping into company funds. A little bit goes a long way when it comes to motivation and non-monetary motivation is vital to the core of your small business.

Nature of Motivation

Based on the definition, we can derive its nature relevant for organizational behavior. Following characteristics of motivation clarify its nature.

Based on motives:

Motivation is based on individuals motives which are internal to the individual. These motives are in the form of feelings that the individual lacks something. In order to overcome this feeling of lackness, he tries to behave in a manner which helps in overcoming this feeling.

Affected by motivating:

Motivation is affected by way the individual is motivated. The act of motivating channelizes need satisfaction. Besides, it can also activate the latent needs in the individual, that is, the needs that are less strong and somewhat dormant, and harness them in a manner that would be functional for the organization.

Goal-directed behavior:

Motivation leads to goal-oriented behavior. A goal-directed behavior is one which satisfies the causes for which behavior takes place. Motivation has profound influence on human behavior; in the organization context, it harnesses human energy to organizational requirements.

Related to satisfaction:

Motivation is related to satisfaction. Satisfaction refers to the contentment experiences of an individual which he derives of need fulfillment. Thus, satisfaction is a consequence of rewards and punishments associated with past experiences. It provides means to analyze outcomes already experienced by the individual.

Person motivated in totality:

A person is motivated in totality and not in part. Each individual in the organization is a self-contained unit and his needs are interrelated. These affect hiss behavior in different ways. Moreover, feeling of needs and their satisfaction is a continuous process. As such, these create continuity in behavior.

Complex process:

Motivation is a complex process; complexity emerges because of the nature of needs and the type of behavior that is attempted to satisfy those needs. These generate complexity in motivation process in the following ways

a) Needs are internal feelings of individuals and sometimes, even they, themselves, may not be quite aware about their needs and the priority of these. Thus, understanding of human needs and providing means for their satisfaction becomes difficult.

b) Even if needs are identified, the problem is not over here as a particular need may result into different behavior from different individuals because of their differences. For example, the need for promotion may be uniform for different individuals but all individuals may not engage in similar type of behavior; they may adopt different routes to satisfy their promotion needs.

c) A particular behavior may emerge not only because of the specific need but it may be because of a variety of needs. For example, hard work in the organization may be due to the need for earning more money to satisfy physiological needs, or may be to enjoy the performance of work itself and money becomes secondary or to get recognition as a hard working person

Motivation Concept

The Incentive Theory of MotivationA reward, tangible or intangible, is presented after the occurrence of an action (i.e. behavior) with the intent to cause the behavior to occur again. This is done by associating positive meaning to the behavior. Studies show that if the person receives the reward immediately, the effect would be greater, and decreases as duration lengthens. Repetitive action-reward combination can cause the action to become habit. Motivation comes from two things: you, and other people. There is extrinsic motivation, which comes from others, and intrinsic motivation, which comes from within you.

Rewards can also be organized as extrinsic or intrinsic. Extrinsic rewards are external to the person; for example, praise or money. Intrinsic rewards are internal to the person; for example, satisfaction or a feeling of accomplishment.

Some authors distinguish between two forms of intrinsic motivation: one based on enjoyment, the other on obligation. In this context, obligation refers to motivation based on what an individual thinks ought to be done. For instance, a feeling of responsibility for a mission may lead to helping others beyond what is easily observable, rewarded, or fun.

Reward and Reinforcement

A reward is that which follows an occurrence of a specific behavior with the intention of acknowledging the behavior in a positive way. A reward often has the intent of encouraging the behavior to happen again. There are two kinds of rewards, extrinsic and intrinsic. Extrinsic rewards are external to, or outside of, the individual; for example, praise or money. Intrinsic rewards are internal to, or within, the individual; for example, satisfaction or accomplishment.Some authors distinguish between two forms of intrinsic motivation: one based on enjoyment, the other on obligation. In this context, obligation refers to motivation based on what an individual thinks ought to be done. For instance, a feeling of responsibility for a mission may lead to helping others beyond what is easily observable, rewarded, or fun.

A reinforce is different from reward, in that reinforcement is intended to create a measured increase in the rate of a desirable behavior following the addition of something to the environment.

Intrinsic and Extrinsic Motivation

Intrinsic Motivation

Intrinsic Motivation: Stems from the direct relationship between the worker and the task and it is usually self-applied.

Intrinsic motivation occurs when people engage in an activity, such as a hobby, without obvious external incentives.

In knowledge-sharing communities and organizations, people often cite altruistic reasons for their participation, including contributing to a common good, a moral obligation to the group, mentorship or 'giving back'. In work environments, money may provide a more powerful extrinsic factor than the intrinsic motivation provided by an enjoyable workplace.

In terms of sports, intrinsic motivation is the motivation that comes from inside the performer. That is, the athlete competes for the love of the sport.

Extrinsic Motivation

Extrinsic Motivation: Stems from the work environment external to the task and it is usually applied by someone other than the person being motivated, extrinsic motivation comes from outside of the performer. Money is the most obvious example, but coercion and threat of punishment are also common extrinsic motivations.

In sports, the crowd may cheer the performer on, and this motivates him or her to do well. Trophies are also extrinsic incentives. Competition is often extrinsic because it encourages the performer to win and beat others, not to enjoy the intrinsic rewards of the activity; Social psychological research has indicated that extrinsic rewards can lead to over justification and a subsequent reduction in intrinsic motivation.

CoercionThe most obvious form of motivation is coercion, where the avoidance of pain or other negative consequences has an immediate effect. Extreme use of coercion is considered slavery. While coercion is considered morally reprehensible in many philosophies, it is widely practiced on prisoners, students in mandatory schooling, within the nuclear family unit (on children), and in the form of conscription. Critics of modern capitalism charge that without social safety networks, wage slavery is inevitable. However, many capitalists such as Ayn Rand have been very vocal against coercion. Successful coercion sometimes can take priority over other types of motivation. Self-coercion is rarely substantially negative (typically only negative in the sense that it avoids a positive, such as undergoing an expensive dinner or a period of relaxation), however it is interesting in that it illustrates how lower levels of motivation may be sometimes tweaked to satisfy higher ones.

Self-controlThe self-control of motivation is increasingly understood as a subset of emotional intelligence; a person may be highly intelligent according to a more conservative definition (as measured by many intelligence tests), yet unmotivated to dedicate this intelligence to certain tasks. Yale School of Management Professor Victor Vroom's "expectancy theory" provides an account of when people will decide whether to exert self control to pursue a particular goal.

Motivation at Workplace

Having a well motivated staff is essential to a productive and pleasant work environment. As a manager, or leader, motivation must be one of your chief concerns. Every one is motivated by something. When you go to the supermarket, you are motivated by hunger; when you run, you are motivated by the desire to be healthy, etc. So what motivates a person to work? Not just work, but work efficiently and loyally? That depends on that individuals personality. For people with an alpha personality, recognition might be what drives them. Being the best at what you do is worth nothing unless someone is there to see it. For others it could be money, others still responsibility. Sometimes, its even as simple as acknowledging when someone has done a good job. It makes them feel appreciated, and if they dont get that at your place of business, then they are just a commodity. Employees are your internal customers, in a sense. You want the service and support to be the best in the world, because thats how it needs to be to keep your customers returning to you.Many business managers today are not aware of the effects that motivation can (and does) have on their business, and it is therefore important they learn and understand the factors that determine positive motivation in the workplace. The size of your business is irrelevant: whether you are trying to get the best out of fifty of your staff or just one, everyone needs some form of motivation. Motivation is something that is approached differently by different businesses and the responsibility of its integration lies with all immediate supervisors of staff. However, it is the business owner who must initiate motivation as a strategy to attain corporate goals.

Motivating Employees

Unmotivated employees have rightly been called "the black holes of the business universe." Fortunately, motivation is not something a person is born with or without. Here are a few basics to try at your workplace to ensure that you are doing everything you can to motivate your staff:

Ask: - Ask them how they like their job, they will tell you. If you notice a reoccurring theme, you might want to address it.

Listen: - Dont just hear them talking. Active listening is a vital skill to the survival of any workplace. The vast majority of resignations are a result of employees not feeling appreciated.

Recognize Regularly: - Show them that you notice their hard work. Let them know that you appreciate what theyve done, and do it publicly. People want others to know when they have worked hard, because it gives them a feeling of satisfaction to know that they had a hand in shaping the team's environment. It also raises the bar for the rest of the team.

Dont Be Cheap: - Buy them something. It doesnt have to be expensive; lunch will do in a pinch or doughnuts and coffee in the morning. If they perform well, get them a gift certificate to the local mall, or their favorite video store.

Have A Little Fun: - Dont lock your ability to have fun behind your suits. Let them play around a little. If it starts to get out of hand, thats why you are there. Bring it back to being productive fun. Make a game out of accomplishing a task, tape a picture of a dog driving a mini-van on someones computer screen. Enjoy yourself; you spend more time at work than you do awake in your own home. If you find a job you love, you will never work a day in your life.

Foster Friendly Competition: - Its in our genes. We need to compete against one another, to prove to ourselves and everyone out there that we can do it, and do it the best. The Olympics are a good example, with the vast majority of the countries on the face of the planet competing against one another.

Be Friendly With Everyone, But Dont Become Friends: - Favoritism is a hard accusation to live down, especially if its true. Dont put yourself in a position that could result in an environment of favoritism. Giving preferential treatment to a person, on a non-work related basis, is unfair. Unfairness in the workplace leads to turn-over.

Share: -Dont keep all the information to yourself. Let them know where they stand often; this will keep them in the loop. One of the most common downfalls of any organization is a lack of communication. Its tough trying to be motivated in the face of goals that you cant measure.

Coach and Accept Coaching: - Nothing will take your legs out from under you quicker than thinking you are doing a great job, only to find out later that you arent. Also, dont make the mistake of thinking you always have the best idea. When managers dont listen to their employees and include them in the action planning process, they feel like their opinions dont matter. When your employees feel like their opinions dont matter, start putting up the Now Hiring signs. Everyone likes to feel like they can effect change, too.

Additional Responsibility: - There are definitely employees in your organization who are begging for and can handle additional responsibility. Our job as managers is to identify who they are and if possible match responsibilities to their strengths and desires.

Five Motivational Factors Every Employee Wants From Work Place

What do employees want from work? There are five factors that must be present in your workplace for your employees to be happy and motivated at work. Your employees need respect, to be members of the in-crowd, to impact decision making about their jobs, to have the opportunity to grow and develop, and access to reasonable leadership. The following describe what employees want from work

Respect is the fundamental right of every employee in every workplace. If people feel as if they are treated with respect, they usually respond with respect and dignified actions. Part of respect is praise and feedback so people know how they are doing at work. Employees want to feel as if they are members of the in-crowd. This means that they know and have access to information as quickly as anyone else in your workplace. Employees want to learn new skills, develop their capabilities, and grow their knowledge and careers. Making developmental opportunities available to each employee demonstrates your commitment to helping them develop their careers. They appreciate this. Employees want to have an impact on decisions that are made about their jobs. Employee involvement and employee empowerment help to create engaged employees willing to put forth their discretionary energy for the business. Employees do want leadership. They want a sense of being on the right track, going somewhere that has been defined and is important. They like being part of something bigger than themselves. Employees like to know that someone, who is trustworthy, is in charge.Most Common Causes of Employee Poor Performance

There are two main causes of performance problems. The first has to do with employee characteristics. Employee performance is based on the following: employee skill levels, motivation, ability, training, and other factors that "belong" at least in part, to the employee.

The second type of cause has to do with the system in which work is done. In this category are included: managerial behavior, allocation of resources, the effects of colleague behavior, and a wide range of variables that are, by and large, beyond the control of the individual employee.

When trying to identify the causes of poor employee performance it's absolutely critical that both kinds of causes be examined. Even something like "poor employee motivation", something that would appear on the surface to be related to employee characteristics, is heavily influenced by the work environment. A work environment can be frustrating or demoralizing, so apparent poor employee motivation can itself be caused by a poor working environment.

Motivation is the Key to Performance Improvement

There is an old saying you can take a horse to the water but you cannot force it to drink; it will drink only if it's thirsty - so with people. They will do what they want to do or otherwise motivated to do. Whether it is to excel on the workshop floor or in the 'ivory tower' they must be motivated or driven to it, either by themselves or through external stimulus. Are they born with the self-motivation or drive? Yes and no. If no, they can be motivated, for motivation is a skill which can and must be learnt. This is essential for any business to survive and succeed.

Performance is considered to be a function of ability and motivation, thus:

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 motivation can be improved quickly. There are many options and an uninitiated manager may not even know where to start. As a guideline, there are broadly seven strategies for motivation.There are broadly seven strategies for motivation.

Positive reinforcement / high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially, there is a gap between an individuals actual state and some desired state and the manager tries to reduce this gap. Motivation is, in effect, a means to reduce and manipulate this gap.

Strategies of Employee Motivating

Bernard in Stoner, et al. (1995) accords dye recognition to the workers saying that, the ultimate test of organizational success is its to create values sufficient to compensate for the burdens imposed upon resources contributed.Bernard looks at workers, in particular librations, in an organized endeavor, putting in time era of the information superhighway, employers of information professionals or librarians must be careful to meet their needs. Otherwise, they will discover they are losing their talented and creative professionals to other organizations who are ready and willing t meet their needs and demands. The question here is what strategies can used to motivate information professionals, particularly librations? The following are strategies:

Salary, wages and conditions of service: To use salaries as a motivator effectively, personnel managers must consider four major components of a salary structures. These are the job rate, which relates to the importance the organization attaches to each job; payment, which encourages workers or groups by rewarding them according to their performance personal or special allowances, associated with factors such as scarcity of particular skills or certain categories of information professionals or librarians, or It is also important to ensure that the prevailing pay in other library or information establishments is taken into consideration in determining the pay structure of their organization.

Money: Akintoye (2000) asserts that money remains the most significant motivational strategy. As far back as 1911.Frederick Taylor and his scientific management associate described money as the most important factors in motivating the industrial workers to achieve greater productivity. Taylor advocated the establishment of inventive wage systems as a means of stimulating workers to higher performance, commitment, and eventually satisfaction. Money possesses significant motivating power in as much as it symbolizes intangible goals like security, power prestige, and a feeling of accomplishment and success. Katz, in Sinclair,et al.(2005) demonstrates the motivational power of money through the process of job choice. He explains that money has the power to attract, retain, and motivate individuals towards higher performance. For instance, if a librarian or information professional has another job offer which has identical job characteristics with his current job, but greater financial reward, that warder would in all probability be motivated to accept the new job offer. Banjoko(1996)states that many managers use money to Reward or punish workers .This is done through the (e.g., premature retirement due to poor performance).The desire to be promoted and earn enhanced pay may also motivate employees.

Staff Training: No matter how automated an organization or a library may be, high productivity depends on the level of motivation and the effectiveness of the workforce. Staff training is indispensable is an indispensable strategy for motivating worker. The library organization must have good training programmed. This will give the librarian or information professional opportunities for self-improvement and development to meet the challenges and requirements of new equipment and techniques of performing a task

Information Availability and Communication: One way managers can stimulate motivation is to give relevant information on the consequences of their action on others (Olajide, 2000).To this researcher it seems that there is no known organization in which communicate, cooperate, and collaborate with one another. Information availability brings to bear a powerful peer pressure, where two or more people running together will runners. By sharing information, subordinates compete with one another. Studies on work motivation seem to confirm that it improves workers performance and satisfaction. For example, Brown and Shepherd (1997) examine the characteristics of the work of teacher-librarians in four major categories: Knowledge base, technical skills, values, and beliefs. He reports that they will succeed in meeting this challenge only if they are motivated by deeply-held values and beliefs regarding the development of a shared vision. Vinokur, jayarantne, and Chess (1994) examine agency-influenced work and employment conditions and asses their impact on social workers job satisfaction. While Colvin (1998) shows that financial incentives will get people to do more of what they are doing, Silverthorne (1996) investigates motivation and managerial styles in the private and public sector. The results indicate that there is a little difference between the motivation needs of public and private sector employees, managers, and non-managers.

Creativity and Innovation

At many companies, employees with creative ideas do not express them to management for fear that their input will be ignored or ridiculed. Company approval and toeing the company line have become so ingrained in some working environments that both the employee and the organization suffer. When the power to create in the organization is pushed down from the top to line personnel, employees who know a job, product, or service best are given the opportunity to use their ideas to improve it. The power to create motivates employees and benefits the organization in having a more flexible work force, using more wisely the experience of its employees, and increasing the exchange of ideas and information among employees and departments. These improvements also create an openness to change that can give a company the ability to respond quickly to market changes and sustain a first mover advantage.Minimize Rules and Policies

Every person is motivated. The challenge at work is to create an environment in which people are motivated about work priorities. Too often, organizations fail to pay attention to the employee relations, communication, recognition, and involvement issues that are most important to people. The first step in creating a motivating work environment is to stop taking actions that are guaranteed to demotivate people. Identify and take the actions that will motivate people. Its a balancing act. Employers walk a fine line between meeting the needs of the organization and its customers and meeting the needs of its internal staff. Do both well and thrive.

Weve got employees who, left to their own devices, will choose to do bad things. You cant trust supervisors to treat employees fairly and consistently either.

How to Improve Employee PerformanceEmployee performance reviews are typically the most dreaded task of managers. The new approach is for transparency and providing an ongoing conversation with employees on how their performance has a direct effect on the organization's overall performance.Step 1

Demonstrate to employees that there is a connection between the individual's performance and the organization's performance goals. Employee performance is the foundation for a business achieving it's larger goals, whatever they may be. Employees should understand that the targets that are used in their performance evaluations are directly related to the company's overall goals.

Step2Train supervisors and managers on how manage employee performance. It can be difficult to measure if goals have been attained if there are no quantifiable metrics. Because of this, managers must become better at coaching and constructive communicating there desired goals and performance outcomes.

Step3Ensure that there is complete transparency about how employee performance is measured and what the company's expectations are. One way of doing this is increasing open communication between managers and their employees. Companies may also rely on employee performance management software that will track goals and performance and be available for all to access. Employee satisfaction will tend to grow when there is a performance management system in place that they understand and can review throughout the year.

Step4Don't make changes to employee performance systems too quickly. It is difficult to change the performance review system and the connected reward or compensation system at the same time. It's important that employees understand and trust the performance review before they will buy-in to a new compensation plan. Roll out the employee performance standards and get feedback from stakeholders before taking on more.

Employee recognition

Employee recognition is not just a nice thing to do for people. Employee recognition is a communication tool that reinforces and rewards the most important outcomes people create for your business. When you recognize people effectively, you reinforce, with your chosen means of recognition, the actions and behaviors you most want to see people repeat. An effective employee recognition system is simple, immediate, and powerfully reinforcing.

When you consider employee recognition processes, you need to develop recognition that is equally powerful for both the organization and the employee. You must address five important issues if you want the recognition you offer to be viewed as motivating and rewarding by your employees and important for the success of your organization.

The Five Most Important Tips for Effective Recognition

You need to establish criteria for what performance or contribution constitutes rewardable behavior or actions.

All employees must be eligible for the recognition.

The recognition must supply the employer and employee with specific information about what behaviors or actions are being rewarded and recognized.

Anyone who then performs at the level or standard stated in the criteria receives the reward.

The recognition should occur as close to the performance of the actions as possible, so the recognition reinforces behavior the employer wants to encourage.

You don't want to design a process in which managers "select" the people to receive recognition. This type of process will be viewed forever as "favoritism" or talked about as "it's your turn to get recognized this month." This is why processes that single out an individual, such as "Employee of the Month," are rarely effective.

SECTOR PROFILE

BANKING IN INDIABanking in India originated in the last decades first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.

HISTORY

Indian merchants in [Calcutta] established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India.(Joint Stock Bank: A company that issues stock and requires shareholders to be held liable for the company's debt) It was not the first though. That honor belongs to the Bank of Upper India, which was established in 1863, and which survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Simla.

Foreign banks too started to app, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center.

The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in 1895, which has survived to the present and is now one of the largest banks in India.

Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities.

The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financing foreign trade. Indian joint stock banks were generally under capitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, "In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments."

The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi movement. The Swadeshi movement inspired local businessmen and political figures to found banks of and for the Indian community. A number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.

The fervour of Swadeshi movement lead to establishing of many private banks in Dakshina Kannada and Udupi district which were unified earlier and known by the name South Canara ( South Kanara ) district. Four nationalised banks started in this district and also a leading private sector bank. Hence undivided Dakshina Kannada district is known as "Cradle of Indian Banking".

During the First World War (19141918) through the end of the Second World War (19391945), and two years thereafter until the independence of India were challenging for Indian banking. The years of the First World War were turbulent, and it took its toll with banks simply collapsing despite the Indian economy gaining indirect boost due to war-related economic activities.

POST-INDEPENDENCE

The partition of India in 1947 adversely impacted the economies of Punjab and West Bengal, paralyzing banking activities for months. India's independence marked the end of a regime of the Laissez-faire for the Indian banking. The Government of India initiated measures to play an active role in the economic life of the nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a mixed economy. This resulted into greater involvement of the state in different segments of the economy including banking and finance. The major steps to regulate banking included:

The Reserve Bank of India, India's central banking authority, was established in April 1934, but was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b).[1]

In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India".

The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the SBI, and no two banks could have common directors.

NATIONALISATION:

Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. Indira Gandhi, then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation."[2] The meeting received the paper with enthusiasm.

Thereafter, her move was swift and sudden. The Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969')) and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. These banks contained 85 percent of bank deposits in the country[2]. Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969.

A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the Government of India controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.

LIBERALIZATION

In the early 1990s, the then Narasimha Rao government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks.

The next stage for the Indian banking has been set up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions.

COMPANY PROFILE

COMPANY PROFILE

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank in India is a fully integrated financial services provider to Indian corporate, institutional and individual clients. Our services include on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking and business processes outsourcing.

Over the years, recognition of our performance has come in the form of various awards which include:

Best Sub-Custodian India 2009 - The Asset

Best Bank in India 2008 - The Asset

Best Equity House in India 2008 - The Asset

Best Cash Management Specialist 2008 - The Asset

Best Private Bank in India 2008 - Asiamoney

Financial Express Award for Growth 2008 & 2007 - Financial Express

PRODUCTS AND SERVICES

VISION

We aspire to be the leading client-centric global universal bank

We serve shareholders best by putting our clients first and by building a global network of balanced businesses underpinned by strong capital and liquidity.

We value our German roots and remain dedicated to our global presence.

We commit to a culture that aligns risks and rewards, attracts and develops talented individuals, fosters teamwork and partnership and is sensitive to the society in which we operate.

BRAND

Deutsche is clear: we are here to perform in business and beyond. We do this with a unique mix of passion and precision. This measured approach gives us the confidence to enable agile minds to look beyond the obvious, gaining advantage for everyone we work with.

Strong brands evoke strong emotions. Today everyone looks for personality in business, for the same reasons they look for it in people. It helps us decide who we trust, who we admire and who wed like to work with.

Our claim has always been much more than a marketing slogan or advertising strapline. It defines our attitude and will continue to do so. It carries an inclusive proposition: performance represents all that we do for our clients, not just bottom-line results. Visually, we say it with more conviction, with more passion, in a new handwritten style.

OUR PERSONALITY

Passionate

Our passion is the passion to perform as one bank.

The trust people place in us is based on our passion as individuals we each make a difference.

Thats why to us at Deutsche, Passion to Perform is more than just a claim it is the way we do business.

Precise

As a German global brand, a desire for accuracy, thoroughness and quality runs through our organization.

We understand issues in depth. This is why we keep things simple and clear.

The pursuit of excellence is a cornerstone of who we are and underpins everything we do.

The unique mix of passion and precision is behind Deutsches stability and performance.

Confident

Our confidence is supported by our meritocratic tradition and culture.

Our confidence makes us a reliable partner for people with ambitious goals in business and beyond.

Based on our leadership and beliefs, we build social capital.

Agile-minded

At Deutsche, agile minds are at the heart of all performance. We are open-minded and embrace change in a globalised world.

As we constantly challenge the status quo, we value the differences that make a difference.

We recognize innovations social value to gain advantage for everyone we work with.BANKS PROMISE

What our stakeholders can expect from our brand:

Excellence

In idea origination and execution, in advice, product and service, delivering one bank with all its resources and capabilities

Relevant client solutions

Understanding diverse client needs, adding value, building trust and commitments that endure

Responsibility

Acting today, thinking about tomorrow, demonstrating transparency and leadership

AWARDS Financial News Awards for Excellence in Trading & Technology

Financial News has awarded Deutsche Bank "Best Single Dealer FX Platform" in its Awards for Excellence in Trading & Technology, celebrating the Banks achievement of working across the spectrum in alternative trading platforms. The Financial News Awards for Excellence in Trading & Technology honour the most innovative and visionary players in the European trading and technology industry. An independent panel of 50 judges determine the awards.

The FX trading platform is accessible through Deutsche Banks Autobahn App Market. The platform is the first App-based electronic client offering in the financial services industry. It acts as a central access point to the banks full suite of electronic services as well as research, real-time market commentary, charting applications, analytics and market data.

Deutsche Bank won six accolades at prestigious annual awards:

Best Corporate Bank in the magazines list of The Worlds Best Banks 2012

Best Foreign Exchange Bank

Worlds largest bank by assets

Best Interest Rate Derivatives Provider, Europe

Best Credit Derivatives Provider, Europe

Best FX Derivatives Provider, Europe

OBJECTIVES OF THE STUDY

OBJECTIVES OF THE STUDY

To analyze the effect of reward system on motivational level of employees at Deutsche Bank.

To analyze the effectives of reward system in the bank.

To know the factors influencing the motivational level of employees.

To know the motivational technique used by Deutsche Bank. To suggest new techniques to motivate the employees to enhance their efficiency and productivity within the system.

RESEARCH METHODOLOGY

RESEARCH METHODOLOGY

MEANING OF RESEARCH

Research includes any gathering of data, information and facts for the advancement of knowledge. Research must be systematic and follow a series of steps and a rigid standard protocol. These rules are broadly similar but may vary slightly between the different fields of science.

MEANING OF RESEARCH METHODOLOGY

The word research methodology comes from the word advance learners dictionary meaning of research as a careful investigation or inquiry specially through search for new facts in any branch of knowledge for example some authors have defined research methodology as systematized effort to gain new knowledge.

Research Methodology can consider research as movement, a movement from the known to the unknown. The term Research methodology is an academic activity and as such the term should be used in technical sense. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions, collecting, organizing and evaluating data, making deduction and reaching conclusions and then testing of the conclusion to determine whether they fit the in the formulating hypothesis.

Analysis of past data a helps the management of the company to plan its future polices according to the external environment. Based on this, study has been taken up financial analysis of the company. Any sound research must have a proper design to achieve the required result, this study id constructed on the basis of descriptive design.

TYPES OF RESEARCH

Descriptive : Descriptive Research includes survey and fact finding enquiries of

different kinds. The study conducted is a conclusive descriptive statistical study. Conclusive because after conducting the study the researcher comes to a decision which is precise and rational.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure.In fact the research design is a conceptual structure within which the research is conducted It constitute the blue print for the collection, measurement and analysis of data. Decisions regarding what, when, where, how much, by what means concerning an inquiry or research study constitute a research design. Research design is needed because it facilitates the smooth sailing of the various research operations thereby making research as efficient as possible yielding maximal information with minimal expenditure of effort, time and money.

TYPES & SOURCES OF DATA

PRIMARY DATA SOURCES

Through interaction with respondents.

SECONDARY DATA SOURCES: Through internet, various official site of the Company.

Through pamphlets and brochures of the Company.

Journals & Magazine

In this study both Primary and Secondary Data has been used.

SAMPLE DESIGN

This project is special in nature and therefore method used for sample technique in convenient sampling method. The method used for sample technique was convenience sampling method. This method was used because it was not know previously as to whether a particular person will be asked to fill the questionnaire. Convenient sampling is used because only those people were asked to fill the questionnaires who were easily accessible and available to the researcher.

SAMPLE SIZE

100 respondents

TOOLS OF ANALYSIS

I have used Structured Questionnaire Method. Some of the softwares used for making this project will be Ms Word and Ms Excel.

LIMITATIONS

1. The respondents were limited and cannot be treated as the whole population.

2. The respondents may be biased.

3. The accuracy of indications given by the respondents may not be consider adequate

4. Inspite of precautions taken there are certain procedural and technical limitations.

5. Lack of sufficient time to exhaust the detail study of the above topic became a hindering factor in my research.

6. Resources were limited.

7. Respondents are not willing to respond properly.

DATA ANALYSIS

&

INTERPRETATIONDATA ANALYSIS & INTERPRETATION

Q1.Since how many years you have been working in Deutsche Bank?

OptionsNo. of RespondentsPercentage of Respondents

0-5 Years24

5-10 Years918

10-15 Years1530

More than 15 Years2448

Interpretation:

18% respondents who are working in Deutsche Bank have 5-10 years experience , 30% of the respondents have been working in Deutsche Bank from 10-15 years, 48% of the respondent employees are working in Deutsche Bank for more than 15 years.

Q2.Rate your level of satisfaction with the working culture of the organization?

OptionsNo. of RespondentsPercentage of Respondents

Highly Satisfied 24

Satisfied2550

Average1734

Dissatisfied48

Highly Dissatisfied24

Interpretation:

50% of the respondents are satisfied with the working culture of the organization, Only 4% of the respondent employees are highly satisfied, 34% of the respondents are neither satisfied nor dissatisfied with the working culture of the organization. This shows overall employees are satisfied with working culture of the organization. Q3.Rate the statement Top Management is interested in motivating the employees?

OptionsNo. of RespondentsPercentage of Respondents

Strongly Agree 1836

Agree1428

Neutral 1326

Disagree24

Strong Disagree36

Interpretation:

More than 60% of the respondent employees were agreed with the statement which shows that Top Management is interested in motivating the employees.Q4.Which type of rewards motivates you more ?

OptionsNo. of RespondentsPercentage of Respondents

Awards & Recognition2550

Promotion0510

Appreciation letters2040

Interpretation:

50% of the respondents say that awards and recognition motivates them more and only 10% of the respondents are motivated by promotions. Ironically 40% of the respondents favoured appreciation letters for increasing their motivation level.

Q5.How far you are satisfied with the reward system of the Organization?

OptionsNo. of RespondentsPercentage of Respondents

Highly Satisfied 1632

Satisfied3060

Dissatisfied00

Highly Dissatisfied48

Interpretation:

Most of the respondents are satisfied with the reward system of the organization. Only 32% of the respondents are satisfied with the incentives provided by organization.

Q6.Please provide the following rates ?

i.Non Monetary Rewards system of the organization for motivating employees is goodOptionsNo. of RespondentsPercentage of Respondents

Strongly Agree1836

Agree3060

Neutral00

Disagree24

Strongly Disagree00

Interpretation:Most of the respondents are satisfied with the non monetary reward system of the organization in motivating employees.ii. Monetary Reward System of the organization for motivating employees is good.OptionsNo. of RespondentsPercentage of Respondents

Strongly Agree3672

Agree1020

Neutral48

Disagree00

Strongly Disagree00

Interpretation:

Most of the respondents were satisfied with the monetary reward system of the organization in motivating employees.iii.Effective promotional opportunities in the Deutsche BankOptionsNo. of RespondentsPercentage of Respondents

Strongly Agree48

Agree2550

Neutral48

Disagree1326

Strongly Disagree48

Interpretation:

More than 50% of the respondents say that Deutsche Bank has effective promotional opportunities.

iv.Organization recognize and acknowledge your work.

OptionsNo. of RespondentsPercentage of Respondents

Strongly Agree816

Agree2040

Neutral1428

Disagree36

Strongly Disagree510

Interpretation:

Most of the respondents say that organization Recognize and acknowledge their work.

v.Organizational Policies motivates for achieving its aims and objectives

OptionsNo. of RespondentsPercentage of Respondents

Strongly Agree1122

Agree2550

Neutral1224

Disagree24

Strongly Disagree00

Interpretation:

Most of the respondents say that Organizational policies motivates for achieving its aims and objectives.

Q7.Which of the following factors which motivates you most ?

OptionsNo. of RespondentsPercentage of Respondents

Salary Increase1836

Promotion1020

Leave48

Motivational talks612

Recognition1224

Interpretation:

36% of the respondents say that they were motivated by increase in salary, 20% of the respondents were motivated by promotion, 8% of the respondents were motivated by leave, 12% of the respondents of the respondents were motivated by motivational talks and 24% of the respondents say that they were motivated by recognition of their effort. Q8.Do you think that reward and recognition schemes will influence your performance?

OptionsNo. of RespondentsPercentage of Respondents

Influence3672

Does not influence48

No Opinion1020

Interpretation:

Most of the respondents say that rewards and recognition system will influence their performance.

OBSERVATIONS

&

FINDINGS

OBSERVATIONS & FINDINGS 18% respondents who are working in Deutsche Bank have 5-10 years experience , 30% of the respondents have been working in Deutsche Bank from 10-15 years, 48% of the respondent employees are working in Deutsche Bank for more than 15 years.

50% of the respondents are satisfied with the working culture of the organization, Only 4% of the respondent employees are highly satisfied, 34% of the respondents are neither satisfied nor dissatisfied with the working culture of the organization. This shows overall employees are satisfied with working culture of the organization.

More than 60% of the respondent employees were agreed with the statement which shows that Top Management is interested in motivating the employees.

50% of the respondents say that awards and recognition motivates them more and only 10% of the respondents are motivated by promotions. Ironically 40% of the respondents favoured appreciation letters for increasing their motivation level.

Most of the respondents are satisfied with the reward system of the organization. Only 32% of the respondents are satisfied with the incentives provided by organization.

Most of the respondents are satisfied with the non monetary reward system of the organization in motivating employees.

Most of the respondents were satisfied with the monetary reward system of the organization in motivating employees.

More than 50% of the respondents say that Deutsche Bank has effective promotional opportunities.

Most of the respondents say that organization Recognize and acknowledge their work.

Most of the respondents say that Organizational policies motivates for achieving its aims and objectives.

36% of the respondents say that they were motivated by increase in salary, 20% of the respondents were motivated by promotion, 8% of the respondents were motivated by leave, 12% of the respondents of the respondents were motivated by motivational talks and 24% of the respondents say that they were motivated by recognition of their effort.

Most of the respondents say that reward and recognition system will influence their performance.CONCLUSION

&

SUGGESTIONS

CONCLUSION

Topic of the project is effectiveness of rewards system on motivational level. For this a survey of 50 employees was conducted using a closed ended questionnaire.

It was found that monetary and non monetary reward system of the bank is effective in motivating employees. It was also found that Employees motivation level is high in Deutsche Bank.

It was also found that organization recognize and acknowledge their work. Incentives and rewards. Most of the respondents are satisfied with the reward system of the organization. Most of the respondents say that incentives and reward system will influence their performance. Organizational policies motivates for achieving its aims and objectives.

SUGGESTIONS Proper Recognition and attention must be given to the employees.

Non Monetary and monetary rewards must be given to the employees for motivating them.

Good Working Environment must be created to motivate employees.

Employee Participation in management decision is also the most important factor for employee motivation hence it must be considered.

Special programmes must be conducted to motivate Employees.

Performance benefits must be given to the employees.

BIBLIOGRAPHY

REFERENCESBooks:

Mamoria, C.B.(1999): Personal Management Himalaya Publication, New Delhi.

Diwedi, R.S. (1997): Managing Human Resource Galgotia Publishing Ltd, New Delhi.

Kothari, C.R. (2000): Research Methodology Vishwa Prakashan, New Delhi.

Casio, Wayne F. (1995) Managing Human Resources , 3rd Edition, Tata Mcgraw Hill, New Delhi.

Sainy H.C. and Kumar Sharad, Human Resources Management and Development, Quality Publishing Company.

Robbins Stephen P. (1987) The Management of Human Resource, 4th Tata Mcgraw Hill, New Delhi.

Aswathapa K. (1997) Human Resource and Personnel Management, Tata Mcgraw Hill, New Delhi.

Websites www.db.comANNEXURE

QUESTIONNAIRE

NameAge :

AddressSex : M / F

Contact No.Designation

Department

Q1.Since how many years you have been working in Deutsche Bank?a.0-5 Years

b.5-10 Years

c.10-15 Years

d.More than 15 YearsQ2.Rate your level of satisfaction with the working culture of the organization?a.Highly Satisfied

b.Satisfied

c.Average

d.Dissatisfied

e.Highly DissatisfiedQ3.Rate the statement Top Management is interested in motivating the employees?a.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong DisagreeQ4.Which type of rewards motivates you more ?a.Awards & Recognition

b.Promotion

c.Appreciation lettersQ5.How far you are satisfied with the reward system of the Organization?a.Highly Satisfied

b.Satisfied

c.Dissatisfied

d.Highly DissatisfiedQ6.Please provide the following rates ?i.Non Monetary Rewards system of the organization for motivating employees is good

a.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong Disagreeii.Monetary Reward System of the organization for motivating employees is good.

a.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong Disagreeiii.Effective promotional opportunities in the Deutsche Bank

a.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong Disagreeiv.Organization recognize and acknowledge your work.a.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong Disagreev.Organizational Policies motivates for achieving its aims and objectivesa.Strongly Agree

b.Agree

c.Neutral

d.Disagree

e.Strong DisagreeQ7.Which of the following factors which motivates you most ?a.Salary Increase

b.Promotion

c.Leave

d.Motivational talks

e.RecognitionQ8.Do you think that reward system and incentives will influence your performance ?a.Influence

b.Does not influence

c.No OpinionPage 72

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