Bankers Job Performance BODY

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ABSTRACT

Motivation seems to be one of the most important tools of managing employee performance.

Organizations design motivation systems to encourage employees to perform in the most effective

way but also to attract potential candidates. The general objective of this paper was to explore the

extent of utilization of non monetary motivations in the police force in Tanzania. To realize thisobjective. Purposive sampling was used to select the key informants for interview and stratified

simple random was used to ensure representation of respondents from different strata. Questionnaire

was distributed to sampled respondents and interviews were conducted with respondents from the

Ministry of Home Affairs particularly at the Headquarters of Tanzania Police Force. The case study

was chosen to represent other police force organizations in which staff are dissatisfied as a result of

ineffective use of non financial motivation. The non monetary rewards available at TPF HQ includes

promotion, appreciation certificates, writing or verbal thanks, tour offering, medals awards, health

services, housing facilities, training scholarship, good working conditions, gift offering and

recognition, tour offering, assignments abroad, responsibility and training. Perceptions of Police

officers at TPF HQ indicated that the use of non monetary incentives -especially social and job-relatedis not at the adequate levels in the organization. On the other hand, employees consider non-monetary

incentives among the most important factors that increase their desire to exert more effort in their

jobs. The findings suggest that non-monetary incentives may have a high motivating power in this

organization if they are valued highly by the employees and management. Most of the responses

indicated that the employees are quite positive towards the use of non monetary incentives in the

workplace and can be effective in motivating them and can be used to complement monetary

incentives

Keywords

Motivators, rewards, job performance, non-monetary rewards, motivational role playing.



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Literature review

Non-monetary rewards

Non-monetary incentives are used to reward participants for excellent behavior through

opportunities. Non-monetary incentives may include flexible work hours, payroll or premiumcontributions, training, health savings or reimbursement accounts, or even paid sabbaticals. If

it comes to environmental behavior, often labeling and recognition certificates are used. This

may include stickers, T-shirts with banner logos, etc.

Motivation

Motivation is the psychological feature that arouses an organism to action toward a desired

goal and elicits, controls, and sustains certain goal directed behaviors. For instance: An

individual has not eaten, he or she feels hungry, and as a response he or she eats and

diminishes feelings of hunger. There are many approaches to motivation: physiological,

behavioral, cognitive, and social.

Motivation may be rooted in a basic need to minimize physical pain and maximize pleasure,

or it may include specific needs such as eating and resting, or for a desired object.

Conceptually, motivation is related to, but distinct from, emotion.

Job Performance

Job performance is a commonly used, yet poorly defined concept in industrial and

organizational psychology, the branch of psychology that deals with the workplace. It's also

part of Human Resources Management. It most commonly refers to whether a person

performs their job well. Despite the confusion over how it should be exactly defined,

performance is an extremely important criterion that relates to organizational outcomes and

success. Among the most commonly accepted theories of job performance comes from the

work of John P. Campbell and colleagues. Coming from a psychological perspective,

Campbell describes job performance as an individual level variable. That is, performance is

something a single person does. This differentiates it from more encompassing constructs

such as organizational performance or national performance which are higher level variables.



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OBJECTIVES OF THE STUDY

The objective of the study is to gain the relationship between theoretical and practical

learning and the real life situation of The Role of Non-Monetary Rewards in Improving

Banker’s Job Performance.

Specific Objective:To recommend guidelines for implementing non-monetary rewards that will motivate low-

skilled employees in the automotive components industry to improve work performance.

To present my observation and suggestion to the bank for motivation

To identify the strength and weakness of bank based on the banks motivation process

To establish what motivates low-skilled employees.

To determine the various types of non-monetary rewards and how

They can address the employee’s needs.

To identify what criteria needs to be taken into consideration when

Implementing reward systems to improve job performance.

MethodologyTo make the report more meaningful and presentable, two sources of data and information

were

used widely. Both the primary and secondary forms of data are used to make the report richer

and informative. The details of these sources are gives below:

Primary Sources

Most of the information was acquired by discussing with the managers who works in

the city bank and Dhaka bank.

Secondary Sources A literature study was conducted to identify the key elements of job performance,

motivation and reward systems.

Use of SPSS

Web site



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Limitation of the report

It was a great opportunity for me to prepare Report on The Role of Non-Monetary Rewards

in Improving Banker’s Job Performance and like any other analyzing process; I found

some difficulties and problem at the time of preparing the report. The limitations are given

below:

Getting the information and interpreting it, on the basis of my understanding and

then implementing it. .

As I have done this kind of report for the first time and the subject matter is very

complex that’s why it was difficult to organize the report in a simple manner.

Confidentiality of information was another barrier that hindered the study. Every

organization has its own secrecy that is not revealed to someone outside the

organization.

While collecting data at the City Bank Limited, personnel did not disclose enoughinformation for the sake of confidentiality rule of the organization.

The bank employees are so busy all the time that they could not help me much to interpret the

information.



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CHAPTER 2

GENERAL INTRODUCTION AND OVERVIEW OF THE BANKS

An overview of the Dhaka Bank

Dhaka Bank Limited is a private-owned commercial bank in Bangladesh. Its headquarters

are situated in the country's capital Dhaka in Bangladesh, now-a-days more than 50

commercial & specialized banks are conducting their operations, but they differ from one

another in many ways regarding their services. Among the various bank Dhaka Bank is the

remarkable one. It comes to exist in 5th July 1995. Dhaka Bank Ltd is one of the third

generation banks in Bangladesh and has a strong position in the current competitive market.

Dhaka Bank is trying to develop its reputation among its client by offering excellent services

through General Banking, Credit Division and specially Foreign Exchange Division. They

also introduced online banking service. Dhaka bank ltd. is a Scheduled Bank, which wasincorporated as a public limited company on April 06, 1995 under the Companies Act, 1994.

Within this short time the bank has been successful in positioning itself as progressive and

dynamic financial institution in the country. The Bank is now widely acclaimed by the

business community from small entrepreneur to big merchant and multinational, including

top rated corporate and foreign investors, for modern and innovative ideas and financial

solution. Dhaka Bank Limited (DBL) started its commercial operation as a Private Sector

Bank on July 05, 1995 with a target to play the vital role on the socio-economic development

of the country. The Authorized Capital of the Bank at that time was Tk.1000 million, divided

into 10 million ordinary shares of Tk. 100 each. The issued, subscribed, and paid up capital of

the bank in 1995 was Tk. 100 million, which was paid fully by the sponsors.

An overview of the city bank

THE CITY BANK is one of the oldest private commercial banks operating in Bangladesh.

The Bank has been operating since 1983 with an authorized capital of Tk. 1.75 Billion under

the entrepreneurship of twelve prominent & leading businessman of the country. The noble

intention behind starting this Bank was to bring about qualitative changes in the sphere of

Banking and Financial management. Today The City Bank serves its customers 89 branches

spread over the country & about three hundred oversea correspondences covering all the

major cities and business center of the world. The services include wide diversified areas of trade, commerce & industry which customized to the specific needs of the customers and are

famous by an exceptional level of prompt and personal attention. Over the years the Bank has

expanded of Its Services. The extensive and ever growing domestic network provides and

carries various products and services. The City Bank has already introduced some new

Banking products like dual currency Credit Cards, ATM and Online services which has

created attraction among the clients. The Bank is going to introduce real time Internet, SMS

and Phone Banking systems with all modern delivery channels at an early date.



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CHAPTER 3

INTERPRETATION OF THE EMPIRICAL DATA

SECTION A: BIOGRAPHIC PROFILE OF THE RESPONDENTS

This section provides a brief summary of the following aspects:

length of service with current company;

age group;

gender;

home language;

highest educational qualification;

marital status;

number of dependants;

monthly income, and

Fringe benefits.

Statistics

Longe

vity

Age Gende

r

Langua

ge

Educati

on

Marita

l

Depende

nts

Salary Fringe

Valid 16 16 16 16 16 16 16 16 16

Mean 1.4375 2.5000 1.0000 1.0000 3.6875 1.3125 1.6875 3.5625 1.0625

Table 3.0: Overall statistics of Biological data

1. Length of service with current company

Number of

employees

Percent

Less than 3 years 12 75.0

3-6 years 1 6.2

7-10 years 3 18.8Total 16 100.0

Table 3.1: Length of service with current company

As can be seen in Table 3.1, 75% of the respondents have been employed for less than three

years. So they are not very experienced.



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2. Age group

Figure 3.1 illustrates the respondents’ age groups. It is clear that over 56.2 percent of the

respondents fall within the 25 to 29 years age bracket. None of the respondents were younger

than 20 years or older than 39 years.

Figure 3.1: Age group of respondents

3. Gender

As can be seen in Figure3.2, 100 percent of the respondents represented the malegender .

Figure 3.2: Gender of the respondents

56.2

37.5

6.2

25-29

30-34

35-39

100



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4. Home language

Figure 3.3 illustrates the home language of the respondents. Here 100 percent of the

respondents were Bengali speaking,

Figure 3.3: Home language of the respondents

5.

Highest educational qualification

31.2 percent of the respondents had completed their Honors degree and 68.8 percent of the

respondents had Masters Degree. Management of those banks gave appointment to the

applicants who have passed their Honors and Masters Degree.

Figure 3.4: Highest educational qualification of the respondents

100

0

10

20

30

40

50

60

70

Honors Masters

31.2

68.8



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6. Marital status

Figure 3.5 illustrates the marital status of the respondents.

As can be seen in Figure 4.5, 68.8 percent of the respondents are single. 31.2 percentare married. None of the respondents was divorced.

Figure 3.5: Marital status of the respondents

7. Number of dependants of the respondent

From Figure 3.6 it can be seen that half of the respondents have no dependants and 37.5

percent have between one and two dependants. The remaining respondents have 3 to 5

and more than 5 dependants.

Figure 3.6: Number of dependants of the respondents

0

10

20

30

40

50

60

70

Single married

68.8

31.2

0

5

10

15

20

25

30

35

40

45

50

none 2-Jan 5-Mar more than 5

50

37.5

6.2 6.2

Series1



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8. Monthly income

As can be seen, 62.5% of respondents, which is only respondent, fall into the TK 20000 to

TK 30000 monthly income groups. Another 18.8% are earn30000-40000 and others are

above 40000.

Figure 3.7: Monthly income per respondent

9. Fringe benefits

The different fringe benefits offered by the companies are illustrated in Figure 3.7.

Figure 3.8: Fringe benefits of respondents

62.5

18.8

18.8

20000-30000

30000-40000

Above 40000

93.8

6.2

Medical Aid

PF



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SECTION-B: Motivator

In this section the feedback on what motivates respondents is illustrated.

Table 3.2: Motivator

The majority of respondents regard the following statements as either important or very

important:

the need to achieve goals and targets;

the need to be accepted by my team mates;

the existence of training and development opportunities;

potential promotional opportunities;

an environment where jobs are provided for my dependents

job security;

opportunities to use my own initiative;

increasing responsibility

broadening the functions of the job;

the feeling of accomplishment I get from my job, and

the opportunity to assist my team members.

The following motivates me to

perform at my best.

5 4 3 2 1

Mean% % % % %

The need to achieve goals and targets. 100 - - - - 5.00

The need to be accepted by my

teammates.

68.8 31.2 - - - 4.68

The existence of training and

development appointments.

50 37.5 12.5 - - 4.37

Potential promotional opportunities. 56.2 31.2 12.5 - - 4.43

An environment where jobs are provided

for my dependents.

56.2 18.8 6.2 12.5 6.2 4.06

Job security 62.5 31.2 6.2 - - 4.562

Opportunities to use my own initiative. 81.2 12.5 6.2 - - 4.75

Increasing responsibility. 56.2 25.0 12.5 - 6.2 4.25

Broadening the functions of the job. 25 37.5 18.8 6.2 12.5 3.56

The feeling of accomplishment I getfrom my job.

62.5 25.0 12.5 - - 4.50

The opportunity to assist my team

members.

37.5 37.5 25.0 - - 4.12



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In most of the responses to the above statements, the mean is between four to five. Although

the majority of respondents regarded increasing responsibility as either important or very

important, the overall rating was that it is important (the mean being 4.00, in other words

close to five). Respondents rated providing jobs for dependants as neutral, therefore neither

important nor unimportant.

SECTION – C: Job Performance

JOB PERFORMANCE

The results of the investigation into how job performance relates to needs the majority of

respondents were satisfied .That the company’s standards are clear and easily understandable

and reasonable. The overall view of respondents on how they regard standards as reasonable

is less positive. Although the majority of respondents regard continuous recognition and

feedback as either very important or important, the overall view only gave a rating of

important.

Results of statements related to job performance

Table 3.3: Results of statements related to job performance

The majority of respondents regarded setting their own performance standards as very

important or important and the overall view was rated as important.

I will improve my performance when: 5 4 3 2 1

Mean% % % % %

Performance standards in my organization are

clear and easily understandable.

93.8 6.2 - - - 4.93

I am part of setting my own performance

standards.43.8 56.2 - - - 4.43

I receive continuous feedback and recognition.87.5 12.5 - - - 4.87

The performance standards in my organization

are reasonable (easily attainable)56.2 37.5 6.2 - - 4.50



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Results of job performance related to needs

I will improve my performance when the

following needs are fulfilled:

5 4 3 2 1

Mean

% % % % %Self-esteem

68.8 18.8 6.2 - 6.2 4.43

Status50.0 37.5 6.2 - 6.2 4.25

Personal growth43.8 50.0 - - 6.2 4.25

Affiliation37.5 31.2 25.0 - 6.2 3.93

Table 3.4: Results of job performance related to needs

In this statement the majority of respondents rated self-esteem, status, personal growth andaffiliation needs very positively. Even though affiliation and status needs were rated lower

than personal growth and self-esteem needs, the results still indicate that all these needs

listed should be considered when designing a reward structure.

Results of job performance related to rewards

I will improve my performance when

rewards are:

5 4 3 2 1

Mean% % % % %

Focusing on the real needs of the employees. 43.8 12.5 31.2 - 12.5 3.75

Complimentary of the good work performed.56.2 31.2 6.2 - 6.2 4.25

Determined by myself.37.5 18.8 31.2 - 6.2 3.75

Determined by my superiors.37.5 37.5 18.8 - 6.2 4.00

Table 3.5: Results of job performance related to rewards

The majority of respondents rated “rewards should focus on the real needs of employees” and“rewards should be complimentary of the good work performed”, as either very important or

as important. The overall view of all respondents showed a sharing of this feeling. The

overall view of respondents on “rewards are either determined by self or by superiors”,

showed a neutral rating.



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Section D: REWARDS

Rewards have a positive impact on motivation of employees and performance. This section

is further divided into monetary and non-monetary rewards whether both play a role in

motivating employees to improve performance.

The results of monetary reward and good performance

The following is a valuable monetary

reward for good performance:

5 4 3 2 1

Mean% % % % %

Salary and wages.81.2 6.2 12.5 - - 4.68

Annual company performance bonuses.68.8 18.8 12.5 - - 4.56

Monthly target based incentive schemes.75.0 12.5 6.2 6.2 - 4.56

Table 3.6: The results of monetary reward and good performance

The results of all three statements, show that the majority of respondents feels that

money plays an important role as a reward that improves performance. The overall view,

although still positive, indicates a lesser degree of positive response to the fact that salary

and wages, annual performance bonuses and monthly target based incentive schemes are

regarded as having a positive impact on performance.

The results of monetary reward statements

Do you agree with the following

statements regarding monetary rewards?

5 4 3 2 1

Mean% % % % %

Monetary rewards are the only rewards that

motivate.18.8 12.5 18.8 18.8 31.2 2.68

Monetary rewards are short-term motivators.25 25 12.5 18.8 18.8 3.18

Table 3.7: The results of monetary reward statements

In these two statement it can be seen that, monetary rewards are the only rewards that

motivate employees, are rated low by the respondents and the results also stressed that

monetary rewards can only be regarded as a short term motivator.



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The results of non-monetary reward and good performance

The following is a valuable non-

monetary reward for good performance:

5 4 3 2 1

Mean% % % % %

Informal praise from your superior (thank

you)50 25 18.8 6.2 - 4.18

Formal praise from your superior

(certificate)50 31.2 18.8 - - 4.31

Symbolic gifts (caps, badges, t-shirts)43.8 37.5 18.8 - - 4.25

Mention in monthly magazine.43.8 43.8 12.5 - - 4.31

Employee of the month trophy (nominated

by management).43.8 56.2 - - - 4.43

Employee of the month trophy (nominated

by fellow employees).37.5 37.5 25.0 - - 4.12

Obtaining canteen vouchers by

accumulating points for meeting

performance standards.

12.5 50.0 25.0 6.2 6.2 3.56

Achieving specific point levels to qualify

for tickets for sporting or entertainment

event.

12.5 43.8 43.8 - - 3.68

Company sponsoring employee of the year

to visit local holiday resort.43.8 25.0 25.0 6.2 - 4.06

Table 3.8: The results of non-monetary reward and good performance

On these table that the overall rating of the impact of the following non-monetary

rewards on performance varied between neutral and important.

Informal praise from your superior( thank you);

Formal praise from your superior(certificate)

Symbolic gifts (caps, badges, t-shirts).

Mention in monthly magazine

Employee of the month trophy (nominated by management)

Employee of the month trophy (nominated by fellow employees).

Obtaining canteen vouchers by accumulating points for meeting performance

standards

Achieving specific point levels to qualify for tickets for sporting or entertainment

event.

Company sponsoring employee of the year to visit local holiday resort



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The results of non-monetary reward and good performance

Do you agree with the following

statement regarding nonmonetary

rewards?

5 4 3 2 1

Mean

% % % % %

Non-monetary rewards are

necessary to improve job

performance

31.2 37.5 31.2 - - 4.0

Table 3.9: The results of non-monetary reward and good performance

More than 37.00% of respondents are in agreement that non-monetary rewards are necessary

to improve job performance and they regard them as an important means of improving job

performance.



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Findings

Every study which is conducted has some findings which are very interesting implications of

the study. The major areas that are thought to be concerned are:

Number of employees employed for a period of three years or less is around 56% that

holds the large amount.

The large portion of the employees fall under the age group who are beginners or

fresher’s that means 25 to 29 years.

More than 68 of the employees completed their master’s degree and the rest have

completed honors.

Among the respondents large portion are paid around 20000-30000 TK as their

monthly salary it happens because they are just beginners.

Most of the respondents are motivated to reach their target.

Performance standards of the respondent’s organization are clear and understandableto them.

Most of them want to be fulfilled the essential needs such as self-esteem, status.

81.2% of the respondents strongly agree that wages and salaries are valuable

monetary reward.

Informal praise from the superior is mostly rated by the respondents.

Recommendations

Every study after analysis shown to be recommended and for that so here are given some

recommendations told by some respondents:

If possible, every year the employees should be taken in tour within the country.

Almost every respondent agree with the term that non-monetary rewards emphasis

their job performance so every organization should be more careful about it.

Employee of the year trophy should be awarded by management.



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Conclusion

Motivated employees are crucial to a company’s success-this has never been truer than today,

when margins are thin (or nonexistent) and economic recovery remains elusive. These hard

bottom-line realities may also mean that managers can’t rely as much as they might have in

the past on using financial incentives to drive employee engagement. But, if the company hasa solid approach to talent management, a bad manager can undermine it in his unit. On the

flip side, smart and empathetic managers can overcome a great deal of corporate

mismanagement while creating enthusiasm and commitment within their units. While

individual managers can’t control all leadership decisions, they can still have a profound

influence on employee motivation.

The most important thing is to provide employees with a sense of security, one in which they

do not fear that their jobs will be in jeopardy if their performance is not perfect and one in

which layoffs are considered an extreme last resort, not just another option for dealing with

hard times.

But security is just the beginning. When handled properly, each of the above mentioned

practices will play a key role in supporting your employees’ goals for achievement, equity,

and camaraderie, and will enable them to retain the enthusiasm they brought to their roles in

the first place.



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Reference

1. Field survey on Dhaka and City Bank limited.

2. Blam L.M, Industrial Psychology and Sociology, 5th Edition, Prentice-Hall, Inc.

3. [en.wikipedia.org/wiki/Motivation] accessed on 8th Dec, 2012

4.

[en.wikipedia.org/wiki/Job_performance] accessed on 8th Dec, 2012.

5. [en.wikipedia.org/wiki/Incentive_program] accessed on 8th Dec, 2012.

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