NatWest

NatWest Employees Motivation

NatWest Employees Motivation

Introduction

One of the most important questions that is being asked from decades is whether money rewards helps to motivate employees or not. There are many motional theories who aim to the extent to which monetary rewards motivate employees (Neil, 2011, pp.1). The purpose of this research is to identify the effectiveness of using monetary rewards to increase the motivation level of employees working in NatWest. Employees are a key asset for any kind of organization. It has become increasingly important for organizations to figure out those elements that help to motivate employes. Motivated employee can help the organization to work more effectively and efficiently. There are different monetary and non monetary incentives that help organizations to increase the motivation level of its employees.

It is very common for employees to over report the importance of money in many of the surveys, and interviews Although money is not the only motivating factor of employees, according to much researches money is a one of the most motivating element of employees (Rynes, Gerhart, and Minettem 2004), pp.381-291).

Discussion

Making people perform at their best in different circumstances is one of the enduring challenges for managers. Things that motivate human beings are centuries old question to be resolved. Before the acquisition of NatWest by Royal bank of Scotland, its reward system was a result of politics, designation and employee permanent status. In present, the reward system of employees is based on performance (Nohria, Groysberg, and Lee, 2008, pp.1-3).

Monetary rewards are those rewards which are meant to increase the productivity of employees by offering them money. There are a number of money related incentives that can be offered to employees. These may include plans for sharing profits with employees, stock options for employees, paid overtime and cash bonuses (Scott, 2012, N.D).

Research questions

Research questions will be using as the measuring instrument in the research. The purpose of the research questions is to know the unmet answers which require this research. The research questions to find the effectiveness of using monetary to motivate the employees of NatWest will be as follows:

•Would the employees of NatWest be more motivated if they get higher monetary rewards?

•Is the monetary reward system of NatWest is directly related to employees performance?

Research objectives

The fundamental aim of this research is to find the perception of employees and managers about the effectiveness of using monetary rewards to motivate employees. The perception of both managers and employee will help to get more accurate results.

•To find out if employees of NatWest will perform better by getting higher monetary rewards.

•To find out whether monetary reward system of NatWest is based on employees performance or not.

Research philosophy

Motivating factors for different employees may vary. It is not possible for every employee to have same priorities that motivate them to perform better. However, money is one of the most important elements that attract most of the employees. There is a higher probability that the result of this research will show that employees of NatWest are motivated with the rewards based on ...