IMPACT OF NON-MONETARY REWARDS ON EMPLOYEES’ MOTIVATION: A STUDY OF COMMERCIAL BANKS IN KARACHI
Download| Volume 9 Issue 2 2013 | |
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| Author(s): |
Dr. Farooq-E-Azam Cheema
Sobia Shujaat
Rafia Alam
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| Abstract | This study is conducted to measure the impact of non-monetary rewards on employees‟ motivation in different banks in Karachi, Pakistan. The study aims to highlight the importance of non-monetary rewards in terms of their effectiveness as well as efficiency. The study also will identify to what extent the banks are taking care of this source of employee motivation. The study follows a quantitative approach to achieve the objectives of this study, which is descriptive. There are five independent variables taken for this study; training, recognition for performance, opportunities for career advancement, effective communication channels, and job security to identify their impact on employees‟ job-related motivation. A standardized and well-structured questionnaire was used to gauge the responses on a five-level scale. Questionnaire contents were adopted from Paul E. Spector's employee recognition program handbook. The questionnaire was sent to 550 respondents through e-mail and in printed form. Data were analyzed using Statistical Package for the Social Sciences (SPSS). The descriptive statistics utilized were based on chi-square tests and graphical illustrations were used to provide information on key demographic variables in this study. The study confirmed the existence of positive significant relationship between three of the five non-monetary rewards. The context against which relationship of two independent variables i.e. training and performance recognition has not been found significant has been discussed in the findings. This research can be helpful for HR managers in the banking sector. They can design effective compensation package to retain their competent employees. Management can improve the use of effective rewards and recognition systems in the feedback process of their performance management system to motivate their employees. |
| Keywords | Non-Monetary Rewards, Recognition, Employee‟s Motivation, Banking sector. |
| Year | 2013 |
| Volume | 9 |
| Issue | 2 |
| Type | Short Report |
| Recognized by | Higher Education Commission of Pakistan, HEC | Category | "Y" | Journal Name | IBT Journal of Business Studies | Publisher Name | ILMA University | Jel Classification | - | DOI | http://dx.doi.org/10.46745/ilma.jbs.2013.09.02.03 | ISSN no (E, Electronic) | 2409-6520 | ISSN no (P, Print) | 2416-8393 | Country | Pakistan | City | Karachi | Institution Type | University | Journal Type | Open Access | Manuscript Processing | Blind Peer Reviewed | Format | Paper Link | http://ibtjbs.ilmauniversity.edu.pk/journal/jbs/9.2/3%20-%20Impact%20of%20Non-monetary%20Rewards%20on%20Employees%20Motivation%20a%20Study%20of%20Commercial%20Banks%20in%20Karachi.pdf | Page | 23-30 |