PUBLIC BANK SECTOR IN SRILANKA

Key Factors Which Encourage Of The Employee Motivation In Public Bank Sector In Srilanka



Abstract

It is widely recognized that the relationships between Public bank sectors and their departments are changing. This trend threatens to undermine the retention of workers and the productivity of operations. In the study reported here, we examine employees' motivation and intent to remain using structural equation modeling. A survey was conducted among existing employees and analyzed. Results showed that latent motivation has an impact on latent retention, with job satisfaction and perceptions of management on career development as indicator variables for the former, and burnout, loyalty, and turnover intent as indicator variables for the latter. Implications for management in developing strategies for the retention of employees are provided. Conversely, the highly engaged persisters showed a trend to be the least highly qualified, which might have given them fewer opportunities for pursuing alternative higher-status careers; however, it might also have made them more work-oriented, perhaps in having role models who were passionate about their jobs and needed to work hard in order to make ends meet. Concordantly, they were the most motivated by social influences, intrinsic values, and social utility values. They also perceived banking to be of higher social status, consistent with their lower SES background. They were more likely to have children, to be older, and to come from non-English speaking backgrounds (NESB). Table of Content

Abstractii

CHAPTER 01: INTRODUCTION1

Background of the Research1

Aims And objectives1

Scope Of Study2

Problem Statement3

Ethical Concerns3

Limitations and Suggestion for Future Research4

Assumptions & Limitation5

Reliability5

Validity6

CHAPTER: LITERATURE REVIEW7

CHAPTER: LITERATURE REVIEW7

Latent motivation and its effect on retention8

Do IS and non-Public bank sector in Srilanka share the same motivating factors?9

Motivating factor: job satisfaction10

Motivating factor: perception of management on career development11

The retention construct12

Retention effects: turnover12

Retention effects: burnout13

Retention effects: loyalty14

Theory14

Demographic status16

Age16

Gender16

Theory Development18

Improvement19

Implications for practice21

Motivations for banking and perceptions of the profession22

CHAPTER 03: METHODOLOGY24

Research Design24

Sample26

Instrument28

Research Survey Instrument29

Data Analysis33

CHAPTER 04: ANALYSIS OF FINDINGS37

Cluster 1: highly engaged persisters39

Cluster 2: highly engaged switchers41

Cluster 3: lower engaged desisters42

CHAPTER 05: CONCLUSION45

REFERENCES50

Appendices56

Questionnaire56

CHAPTER 01: INTRODUCTION

Background of the Research

When talking about motivation people are tend to thinks in term of financial rewards but is that the only things that people needs. In some businesses the financial reward sometime is not an option especially for Public bank sector of Srilanka(Keith Schafer 1985 227). The high position and high pay job is quite easy to find the way to motivate employee because the highs skilled position normally required high education and lots of experience. Therefore, they likely tend to motivate by self actualization, and self esteem in other word job satisfaction, job challenge, perk, pension scheme, promotion, etc. However, in low skilled position it might be another story since the low skilled position is viewed as low pay and no career development. Hence, it is interesting to learn that what motivate employee in the low skilled job especially in the service businesses. (Jackofsky 2005 41)In service business, the customer satisfaction is number one goal to achieve such mission it had to start from happy ...