Motivation and Retention of Client Service Officer in Bank of America Merrill Lynch

By

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION1

1.1 Introduction to the study1

1.2 Background of the Study2

1.2.1 Overview of “Bank of America Merrill Lynch”3

1.3 Statement of the Problem4

1.4 Research aims and objectives4

Aims4

Objectives4

1.5 Rationale of the study5

1.6 Research Questions5

1.7 Significance6

1.8 Assumptions and Limitations6

1.9 Definition of Terms7

Layout of the dissertation7

CHAPTER 2: LITERATURE REVIEW9

2.1 Introduction9

2.2 Theoretical frame work9

2.2.1 McGregor's Theory X and Theory Y,9

2.2.2 Maslow's Hierarchy of Needs,10

2.2.3 Herzberg's Two Factor Theory,11

2.3 Motivation13

2.4 Importance of Motivation13

2.5 Intrinsic and extrinsic motivation15

2.5.1 Intrinsic15

2.5.2 Extrinsic16

2.6 Corporate culture and performance17

2.6.1 Organizational change17

2.6.2 Resistance to Change18

2.7 Job Satisfaction, Retention, and Work Environment19

2.8 Employee retention20

2.9 Organizational Behavior in Working Environment21

REFERENCES23

BIBLIOGRAPHY25

CHAPTER 1: INTRODUCTION

1.1 Introduction to the study

Traditionally, organizations have been relying on existing concepts and theories in the management and development of their organizational structures. It has been well established that job satisfaction, motivation, and retention have been the three main variables associated with organizational commitment (Whiteley et al. 2002, 160). According to Spector et al. (2007, 160), external and internal factors can influence an employee's behavior within an organization and the relationship that is developed with a manager (Spector et al. 2007, 160). Through the years and among various scholars there have been approximately 140 definitions of motivation (Somers and Birnbaum, 2000, 353).

Fascinating questions on how to motivate employees have been asked over the years. Some of these include goal setting, task complexity, rewards, compensation, equitable treatment, and job satisfaction all of which are linked in some way to work motivation (Noe and Hollenbeck and Gerhart and Wright, 2009, 223). Organizations seek to create an environment to excite and retain employees, which is both beneficial for the organization and employees. Human relations depict the communications, management, psychology, and sociology aspects of an organization. Employees interact on many different levels and in various networks within an organization. In the mid 1960s, a variety of approaches on work motivation began to come to the forefront of understanding the behaviors of employees in the workplace (Michaelson et al. 2005, 235). More organizations in the 21st century are becoming aware of the critical drivers that are required to attract, retain, and motivate employees (Lazenby et al. 2008, 22). This awareness can be attributed to the concept that the future of organizations' success is dependent upon the efficiency and effectiveness of the organization, as well as how employees are treated by their managers (Ke and Wei, 2008, 208). Recent studies have indicated that if organizations have high levels of involvement, this will develop into a positive attitude among employees therefore, employees will have a higher degree of engagement and productivity in the workplace (Cordeniz et al. 2002, 237). Today, organizations typically utilize a more strategic approach, encompassing dynamic workplace models to uncover processes of individual workplace situations including personal aspirations, stabilization, differentiation, multiculturalism, perceived social worth, personal motivation, expectations, and intrinsic and extrinsic needs (Christensen et al. 2010, 20). Current organizational trends appear to be based on existing theories and concepts that drive organizational ...