Examining the contribution of motivational factors in microfinance banks: A case of ACB.
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Date
2014
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Publisher
Mzumbe University
Abstract
The aim of this study was to examine and identify the contribution of motivational factors in employee retention and productivity in microfinance banks. Specifically the research was to establish which motivational measures are currently in place and how effective they are; to establish whether a positive relationship exists between these motivational measures and employee retention; and to establish ways to improve employee retention and productivity. This study was guided by the use of gratification theories; theoretical review of related literature in text books, journals, and internet sources. Data was gathered from 52 respondents, in which 37 respondents were chosen from lower level employees, 15 respondents were senior management and 3 respondents were from top management. Simple random sampling and purposive sampling techniques were applied to a population of ACB Commercial Bank, Tanzania. The data collected (both primary and secondary) was coded and analyzed by using a software program known as Statistical Package for Social Science (SPSS) and Microsoft Excel 2007. Motivation and employee performance in most organizations has been a difficult issue to handle resulting in the same common problems existing in most organizations. These problems identify the fact that it is not easy to fulfill all peoples` needs as each individual is motivated by different aspects. Motivational packages are an organization’s lifeblood to retaining employees and this is only if employees find them attractive and administratively sound. Some strategies to achieve these motivational packages include the use of extrinsic rewards such as bonuses; the use of peer pressure by setting both individual and group goals; and lastly the use of intrinsic motivational factors such as providing workers with feedback about goal attainment. I believe Akiba Commercial Bank should introduce participative management techniques, in which employees are given opportunities in the decision making process, especially in the establishment of their motivational package. The bank needs to prepare a clear training programme to its employees both locally and overseas.
Description
A dissertation submitted in fulfillment of the requirements for the award of Masters of Public Administration (MPA) of Mzumbe University
Keywords
Motivation, Microfinance bank, Employee retention, Decision making process, Microfinance -Tanzania, Labour turnover
Citation
APA