Effects of motivational factors on employee performance: a study of Kakum Rural Bank Limited

Abstract

The performance and survival of any organisation (such as banks) in a dynamic work environment, among other factors, depend largely upon the employees’ motivation. Given that needs of employees and the level of motivation may differ from organisation to organisation, an understanding of what fosters and enhances employee motivation and performance is critical.The study sought to assess the motivational packages available at Kakum Rural Bank limited and how it affects employee performance. The convenience sampling method was employed. Data was obtained through self-administered questionnaires to staff members of all the branches of Kakum Rural Bank limited. The descriptive survey research design was used for the study. The study revealed that, management can make use of different factors and policies to motivate employees in the banking environment. Employees are interested in enhanced salaries, fringed benefits, promotion, and car loans as motivating elements sufficient to push employees of the bank to give out their best. The research also revealed that the core duty of the bank is normally carried out by clericals who are more than the supervisors and as such motivational packages should be geared towards the clerical workers to ensure that they delight the customers. Promotion has been a worry to most staff; measures should be put in place by management to ensure that there is continuity in the promotion of staff to avoid low productivity in terms of deposit mobilisation. The study revealed that if management withdrew motivational packages it will have serious repercussions on employees’ performance.