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Assignment Body

5402 words - 22 pages

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CHAPTER 1: INTRODUCTION
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1.1 Effectiveness of Motivational Strategy in BRAC Bank
In this modernized world where globalization is fast crating an effect, the workplace realities of the ancient organizations no longer exists. It has become past and needs to be revised very carefully before any aspect of it can be implemented nowadays. It has become increasingly important for the organizations to introduce new methods and meet the new motivational needs of the employees. The reality of workplace, the changing work environment has increased the end for the managers to reconsider the ...view middle of the document...

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1.2 What is actually motivation and how and why does it matter?
In business terms, motivation is the desire of a firm to see a job done well and quickly. The highly motivated workforce becomes an instrument for the business to achieve its goals and objectives as cost effectively as may be possible. Motivated worker also try to reach their own personal objectives. The employers should be well aware of what these are .This is because the greatest motivation will develop if workers feel that working towards the business objectives is ultimately helping them achieve their own goals.
A milestone in a success of an organization is fulfilling the continually changing needs of employees and the organization. A heavy responsibility rests on the shoulder of the management to develop durable and strong relationships between them. Companies expect workers to follow the rules according to the terms and conditions set for them. Employees in return expect fir pay, good working conditions, secure career, fair treatment, involvement in decisions and power. These expectations of both groups vary from company to company. For any business to deal with these expectations successfully a complete understanding of the employee motivation becomes necessary.
It is usually that it is the organization and not managers that fail to hold managers responsible for creating motivation among the people. They fail to understand the role of motivation and its connection to job performance. One of the biggest challenges for HR is to persuade line managers to develop and manage people. These line managers should be able to build string and personal relationship with the employees through effective communication. There is a need for the line mangers to understand the nature of the employee and his subordinates and should be able to deal with the problems of workers effectively. A thorough understanding of the needs of the subordinates will eventually let the managers know what the employee aims for and what are their goals and objectives. They can then decide how to develop and implement strategies that will achieve the objectives of the company while letting the employees achieve their personal goals.
Staff that is unmotivated will be reluctant to do their jobs quickly and efficiently and will only provide the minimal of what is required of them from the organization. It is important to know how well motivated staff will alter the levels of productivity and performance within a company, thus affecting the competitiveness of the business.
A well motivated staff is not only able to increase productivity and performance but is also prepared to accept responsibility, willingly and happily. There is low labor turnover which reduces the business cost of hiring and training new labor. With a highly motivate staff, a business also benefits from low absenteeism rate and employees participate on making suggestions for improvements.
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