City
Bank (CB), a reputed commercial bank based in London, has maintained comparable
sales revenue and profit margins to other institutions in the industry.
However, a worrisome pattern has surfaced: a significant decline in employee
motivation, which is exerting a negative impact on the bank's overall
performance. Despite competitive pay, and benefits, employees seemed disengaged
and lacked enthusiasm in their roles. There were instances where employees were
asked to leave without sufficient notice.
During
the exit interview, it became evident that a top-down approach to
decision-making left employees feeling unheard and excluded from important
discussions. This lack of involvement eroded their sense of ownership and
commitment to the bank's success.
Moreover,
the bank's rigid hierarchy hindered opportunities for skill development and
growth. Employees felt trapped in their positions with limited chances for
advancement, leading to feelings of stagnation and diminished motivation
Questions
to answer
a) Identify four warning signs of poor
motivation at the workplace [ 2 marks]
b) Explain two benefits to businesses like City
Bank ( CB) in having a highly motivated workforce. [ 4 marks]
c) Using appropriate motivational theory
(Taylor, Maslow or Herzberg) recommend a motivational plan for the management
of CB to address the current issue [ 10 marks]
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Suggested answers
Identify four warning signs of poor
motivation at the workplace [ 2 marks]
Decreased productivity
Increased absenteeism and tardiness
Low employee engagement
Increased labour turnover rate
Explain two benefits to businesses like City
Bank ( CB) in having a highly motivated workforce. [ 4 marks]
Two benefits to businesses like City Bank
(CB) in having a highly motivated workforce are:
Lower employee turnover: Motivated employees are more likely to be
satisfied with their jobs, reducing the likelihood of them leaving the
organization. This decreases turnover rates, which can help City Bank save on
recruitment and training costs. Additionally, retaining experienced employees
ensures continuity and stability within the workforce, further enhancing the
bank's performance and customer satisfaction.
Increased productivity: A highly motivated workforce tends to be
more productive, as employees are more likely to put in extra effort, complete
tasks efficiently, and strive for high-quality outcomes. This can lead to
improved operational efficiency and enhanced overall performance, contributing
to higher sales and profitability for CB
Using appropriate motivational theory
(Taylor, Maslow or Herzberg) recommend a motivational plan for the management
of CB to address the current issue [ 10 marks]
To address the decline in employee motivation
at City Bank (CB), we can design a motivational plan using Maslow's Hierarchy
of Needs. This theory suggests that employees are motivated by fulfilling their
needs in a specific order, starting from
physiological needs to higher-level needs. Here’s a plan based on each
level of Maslow’s hierarchy:
Physiological Needs: Ensure
competitive salaries are not only maintained but also reviewed regularly to
keep pace with banking industry
standards. Conduct regular market salary surveys to ensure CB’s compensation is
aligned with or exceeds that of competitors, reinforcing financial security for
employees. However, market surveys and the
collection of data may be time-consuming and expensive.
Safety(security) Needs: Enhance job security and create a more
stable work environment. Establish transparent communication regarding
organizational changes and ensure fair policies for layoffs and terminations,
including sufficient notice periods. As per the stimulus, there were instances
where employees were asked to leave without sufficient notice. Introduce wellness programs and provide mental
health support to create a safer, more supportive workplace.
Social Needs: Foster
a sense of belonging and teamwork within the organization. Organize regular
team-building activities, social events, and cross-departmental projects to
strengthen relationships among the bank employees. Encourage open communication
and collaboration across all levels to build a cohesive work environment.
Esteem Needs: At City Bank, recognizing and rewarding
employee achievements can significantly boost self-esteem and enhance
motivation. To achieve this, City Bank should implement a comprehensive
recognition program that celebrates both individual and team accomplishments
through awards, bonuses, and public acknowledgment. Additionally, managers at
City Bank should provide constructive feedback regularly, ensuring that
employees feel valued and recognized for their efforts. Opportunities for
employees to showcase their skills and expertise, such as leading special
projects or presenting at team meetings, should also be created to further
enhance their sense of accomplishment and contribution to the bank's success.
Self-Actualization Needs: City Bank should focus on providing
opportunities for personal and professional growth to enhance employee
motivation. To achieve this, City Bank could offer comprehensive career
development programs, training sessions, and skill-building workshops to encourage
continuous learning and advancement. The bank should establish a clear pathway
for career progression, allowing employees to take on challenging projects,
lead initiatives, and actively pursue promotions. By fostering an environment
that supports growth and development, City Bank can help employees realize
their full potential and align their career goals with the bank’s success.
By addressing each level of Maslow’s
hierarchy, City Bank (CB) can create a comprehensive motivational plan that
caters to the diverse needs of its workforce, ultimately boosting morale,
engagement, and overall performance.
However, implementing comprehensive career
development programs, training workshops, and recognition programs may require
significant investment in terms of time, money, and human resources. City Bank
may face budgetary constraints or lack the necessary expertise and
infrastructure to execute these programs effectively. Additionally, balancing
day-to-day operations with the time needed for training and development
activities could pose logistical challenges.
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