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Role of reward practices for employee motivation in Nepalese commercial banks / Manisha Ghimire
Title : Role of reward practices for employee motivation in Nepalese commercial banks Material Type: printed text Authors: Manisha Ghimire, Author Publication Date: 2017 Pagination: 110p Size: GRP/Thesis Accompanying material: 9/B Languages : English Abstract: Banking sector business in Nepal is most competitive sector where employee's performance is the only way out to beat the competition. Banks are one of the most important institutions for the development of the financial sector, economy and the country as a whole. Human resource is considered as the most important asset of every organization. Motivation means the factors that influence people to behave in certain ways. As motivation concern, reward system is an important tool for management use to channel employees’ motivation in desired ways. Motivation refers to forces within person that affect his or her direction, intensity and persistence of voluntary behavior. Motivated employees are willing to exert a particular level of effort for a certain amount of time toward a particular goal. Every organization wants to increase motivation of their employees to enhance their productivity.
Employees are the most valuable assets in the organization. A successful and highly productive business can be achieved by improving employee motivation. Nazir et al. (2015) reported that financial rewards caused positive job satisfaction on employee and booted their commitment and increased the output of the organization. The employee motivation would be considered as the backbone of an organization which leads to its development.
For that purpose, some organizations use rewards which include various benefits which are provided by employers these may be monetary or non monetary. A reward system consists of financial rewards (fixed and variable pay) and employee benefits which together comprise total remuneration.The system also incorporates non-financial rewards (recognition, praise, achievement, responsibility and personal growth). The combination of financial rewards, employee benefits and non-financial compensation comprises the total reward system. Reward system expresses what an organization values and is prepared to pay for it. It is governed by the need to reward the right things in order to convey the right message about what is important in terms of expected behavior and outcomes. The element of rewards practices consists of recognition, leaders-employee relation, empowerment, reward system, benefits and salary.
This study finds out the motivation level of different employees for benefits and rewards received from their employers in Nepal. Responses from users will be received through Questionnaires.The major purpose of this study is to ascertain the role of reward systems, salary and benefit for employee motivation in commercial banks of Nepal. The specific objective of the study is to examine the relationship of recognition, leaders-employee relation, empowerment, reward system, salary and benefits with employee motivation.
The primary source of data is used to assess the opinion of employees with respect to organizational factors to analyze the employee performance in Nepalese commercial banks. The survey is based on 200 respondents from 17 commercial bank in Nepal. The questions were asked in the form of personal opinion, Yes/ No, Likert scale questions and other demographic information. Likert scale questions of different variables were used for employee motivation which was measured in 5 points scale. The proxies of reward practices for employee motivation are recognition, leaders-employee relation, empowerment, reward system, salary and benefits. The weighted mean of each variable were used to examine the relationship. For the fact findings of the study primary data was analyzed by using percentage frequency distribution and methods such as descriptive analysis, correlation analysis and regression analysis.
The result shows that there is positive relationship of recognition with employee motivation, which indicates that better the recognition, higher would be the employee motivation. Likewise, the study observed positive relationship of leaders-employee relation with employee motivation indicating higher the level of leaders-employee relation, higher would employee motivation.The positive relationship between empowerment with employee motivation which reveals that good empowerment leads to an increase in the employee motivation. The result shows that reward systemis positively correlated with employee motivation, which indicates the higher the flow of reward system, higher would be the employee motivation. Likewise, salary is positively related to employee motivation, indicating higher the level of salary, higher would be the employee motivation. Similarly, benefitsare positively related to employee motivation.This implies that an increase in benefit leads to an increase in the employee motivation.Thus, the major conclusion of the study is that empowerment, salary and benefits are the major factors affecting employee motivation in Nepalese commercial banks.
Role of reward practices for employee motivation in Nepalese commercial banks [printed text] / Manisha Ghimire, Author . - 2017 . - 110p ; GRP/Thesis + 9/B.
Languages : English
Abstract: Banking sector business in Nepal is most competitive sector where employee's performance is the only way out to beat the competition. Banks are one of the most important institutions for the development of the financial sector, economy and the country as a whole. Human resource is considered as the most important asset of every organization. Motivation means the factors that influence people to behave in certain ways. As motivation concern, reward system is an important tool for management use to channel employees’ motivation in desired ways. Motivation refers to forces within person that affect his or her direction, intensity and persistence of voluntary behavior. Motivated employees are willing to exert a particular level of effort for a certain amount of time toward a particular goal. Every organization wants to increase motivation of their employees to enhance their productivity.
Employees are the most valuable assets in the organization. A successful and highly productive business can be achieved by improving employee motivation. Nazir et al. (2015) reported that financial rewards caused positive job satisfaction on employee and booted their commitment and increased the output of the organization. The employee motivation would be considered as the backbone of an organization which leads to its development.
For that purpose, some organizations use rewards which include various benefits which are provided by employers these may be monetary or non monetary. A reward system consists of financial rewards (fixed and variable pay) and employee benefits which together comprise total remuneration.The system also incorporates non-financial rewards (recognition, praise, achievement, responsibility and personal growth). The combination of financial rewards, employee benefits and non-financial compensation comprises the total reward system. Reward system expresses what an organization values and is prepared to pay for it. It is governed by the need to reward the right things in order to convey the right message about what is important in terms of expected behavior and outcomes. The element of rewards practices consists of recognition, leaders-employee relation, empowerment, reward system, benefits and salary.
This study finds out the motivation level of different employees for benefits and rewards received from their employers in Nepal. Responses from users will be received through Questionnaires.The major purpose of this study is to ascertain the role of reward systems, salary and benefit for employee motivation in commercial banks of Nepal. The specific objective of the study is to examine the relationship of recognition, leaders-employee relation, empowerment, reward system, salary and benefits with employee motivation.
The primary source of data is used to assess the opinion of employees with respect to organizational factors to analyze the employee performance in Nepalese commercial banks. The survey is based on 200 respondents from 17 commercial bank in Nepal. The questions were asked in the form of personal opinion, Yes/ No, Likert scale questions and other demographic information. Likert scale questions of different variables were used for employee motivation which was measured in 5 points scale. The proxies of reward practices for employee motivation are recognition, leaders-employee relation, empowerment, reward system, salary and benefits. The weighted mean of each variable were used to examine the relationship. For the fact findings of the study primary data was analyzed by using percentage frequency distribution and methods such as descriptive analysis, correlation analysis and regression analysis.
The result shows that there is positive relationship of recognition with employee motivation, which indicates that better the recognition, higher would be the employee motivation. Likewise, the study observed positive relationship of leaders-employee relation with employee motivation indicating higher the level of leaders-employee relation, higher would employee motivation.The positive relationship between empowerment with employee motivation which reveals that good empowerment leads to an increase in the employee motivation. The result shows that reward systemis positively correlated with employee motivation, which indicates the higher the flow of reward system, higher would be the employee motivation. Likewise, salary is positively related to employee motivation, indicating higher the level of salary, higher would be the employee motivation. Similarly, benefitsare positively related to employee motivation.This implies that an increase in benefit leads to an increase in the employee motivation.Thus, the major conclusion of the study is that empowerment, salary and benefits are the major factors affecting employee motivation in Nepalese commercial banks.
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Barcode Call number Media type Location Section Status 330/D GHI Thesis/Dissertation Uniglobe Library Philosophy & Psychology Available