Assessing The Findings And Data Analysis Business Essay Example

questionnaires used in this study provided insight into the perception of the banks' motivational approach from the perspective of their staff. Additionally, this research provided explanations for the findings. To gather reliable and useful information, telephone interviews were conducted with senior management.

The interviews yielded important insights into the policies and perspectives of Bankss. They also helped gather information about the techniques used by Bankss to motivate their staff. The employees' questionnaire was given to randomly selected employees from both Bankss, with assistance from the management. The discussions covered the performance of the Bankss as well as their motivation policies and methods. All the employees responded positively to the questionnaire, although some skipped a few questions.

Interviews: J&A;K Bank

In J&A;K Bank, employee preparation and development were not formal in the past. However, due to changes in the economic environment, employees' societal attitude, and government regulations, the bank now recognizes the importance of employee development. The bank's management acknowledges the significance of employee motivation in relation to the Kashmiri culture and environment. They are actively working towards aligning their work culture with these factors, which will ultimately improve the bank's performance. Training and motivational issues have been incorporated into the bank's overall strategy. The bank understands that employee development is an ongoing process and places a strong emphasis on employee motivation. The management team at J&A;K Bank is highly educated, qualified, talented, and skilled in providing expertise and solutions for workforce development.

The bank recognizes the importance of motivated employees and their development. It emphasizes the involvement and passion required to motivate staff, particularly in the context of Kashmir. Understanding the need for security in the region, the

bank hires many employees on a permanent basis.

The bank has established pension and medical funds for its employees, and it also contributes a portion of the payments on behalf of the employees. Additionally, the bank hosts Eid parties annually for the employees and their families. According to the management, "Organizing events like the Eid Millan Party not only fosters friendly relationships but also enhances our understanding of the employees' needs." In addition to this, other informal parties are organized where employees can casually meet their colleagues in a friendly environment.

The bank has an official complaint process where employees can submit their grievances and openly criticize the bank policies. The bank allows employees in lower-level decision making and encourages them to integrate into the working system, enabling them to work towards the bank's ultimate goals and aspirations through collaboration. One manager stated in an interview, "The bank treats its employees fairly and with respect". The bank has an equal opportunity policy and treats all employees without any discrimination. Females are encouraged to apply and participate in bank operations.

Interviews: ICICI Bank

Due to competition and market demand, the ICICI Bank was compelled to incorporate training and motivational issues into its overall strategy. Similar to J ; A ; K Bank, it implemented various new policies and procedures to motivate its workforce.

The bank employed qualified and experienced directors and conducted re-training for all employees, providing them with advanced knowledge, instruction, and skills. In an interview, a subdivision director acknowledged the bank's understanding of the importance of employee motivation in boosting confidence and morale, which effectively enhances job performance. This highlights the bank's emphasis on motivation. The highly qualified,

educated, and experienced bank management has conducted research on the general nature of the Kashmiri people, considering societal, economic, political, and other environmental factors to develop effective strategies. The bank utilizes various techniques and methods of motivation (both extrinsic and intrinsic) for different departments.

All employee motivation strategies have the common goal of increasing productivity and efficiency, regardless of the different techniques used. The bank recognizes the positive impact that effective motivational strategies can have on employee performance. When considering how to motivate employees, the management team takes into account various factors and believes that sufficient motivation is necessary for employees to effectively carry out their banking operations. To address concerns or issues, the bank has established a formal complaint process that allows direct communication with management. In addition, the bank offers its employees a highly competitive salary and various benefits. Currently, the bank's focus is on creating a more favorable working environment that supports and empowers employees in reaching their full potential.

According to an interview, the bank conducts regular evaluations and monitoring of its employees' attitudes and performance, sometimes without their knowledge. This demonstrates management's recognition of the importance of employee performance. They consistently express appreciation for well-executed work and provide constructive criticism for work that does not meet expectations. When discussing employee morale and motivation with the director, he mentioned that they encourage employees to pursue their own goals while also achieving the bank's objectives. This has an impact on overall employee morale, motivation, and performance.

Analysis: Questionnaires

The purpose of this questionnaire is to enhance understanding of the correlation between work motivation and organizational performance in the banking sector. This will be accomplished by empirically

testing common elements found in existing theoretical models.

The research reveals that the banking sector in Kashmir offers both extrinsic and intrinsic rewards. The survey questions are all connected to the purpose and goals of the study. Although the first four questions in this questionnaire may not be directly relevant to the subject, they help identify factors that influence employees' motivational requirements. One crucial factor is the gender makeup of employees, which significantly impacts the working atmosphere.

Both males and females have distinct motivational needs that can be influenced by the length of employment and hours worked in a specific occupation. Moreover, motivation levels can be impacted by working in various sections that cater to individual requirements. This personal information, along with the initial four inquiries, is valuable for analyzing other pertinent questions mentioned below.

Therefore, these inquiries are not discussed in details but are related to other questions in discussion. All questions are aligned with the purpose and aims of this paper. There is nothing more demotivating than an unhappy workplace. Many employees have their own perceptions about the bank environment.

The table above shows that nearly all employees in both banks rated their satisfaction above average (ICICI Bank, slightly better). They believe their bank understands their motivation patterns and works to improve the work environment. However, their expectations differ based on their job nature and positions. J&K employees have longer experience working in the bank, while the majority of ICICI Bank employees have less than 3 years' experience.

2/3rd of ICICI Bank employees and 3/4th of J ; A ; K employees are involved in client services and have regular communication with each other. The employees enjoy a

friendly working environment and exhibit excellent coordination. Both banks adhere to an equal opportunity policy, ensuring fair treatment for all employees without any bias or favoritism. There is a strong encouragement for women to actively participate in bank operations. In both banks, the majority of women work either in client services or hold secretarial positions within other departments, providing them with a unique perspective compared to their male colleagues.

Both banks provide support and assistance to their employees, enabling them to achieve work goals and contribute to the banks' objectives. This support positively affects employee morale, motivation, and performance. Regarding social activities, both banks have unanimous employee agreement. J & K Bank specifically hosts annual 'Eid' parties for its employees and their families. The bank encourages employee collaboration in organizing these events and provides the necessary funds.

ICICI bank not only hosts Eid parties, but also organizes various formal and informal events on different occasions. The bank actively encourages its employees to participate in events and frequently provides financial support for their participation in different sports tournaments. Additionally, the bank places great importance on employee training and development. Approximately 66% of ICICI bank employees receive regular training (every 3-6 months), while the remaining employees receive training sporadically.

On the other hand, J & K bank employees receive training on specific occasions. Only 30% of the employees stated that they receive training every 6 months, 32% receive training every 9 months on average, and the remaining 38% receive training once a year.

Most employees in both banks have worked for less than 3 years, but all have received at least 2 trainings in their careers. Additionally, employees are frequently educated

on bank operations. The majority of ICICI bank employees express satisfaction with their training and development, finding it motivating. Similarly, many J & K bank employees believe that regular employee training and development is necessary. A common observation from employees in both banks is that customer service staff members, who directly interact with clients, display more enthusiasm towards training.

44% of ICICI's employees report that the bank provides them with transportation facilities and offers options and discounts on a daily basis. However, only senior executives are given a car. This service is not available at J&A;K bank, although the branch manager and a couple of executives enjoy this perk. Rental expenses and utility bills are also covered for senior management at ICICI bank. 100% of employees at both banks feel motivated and grateful because their employer contributes to their pension and other funds. While all employees at ICICI bank can take advantage of study and professional training reimbursement, J&A;K bank provides funds to selected employees in genuine cases and only for qualifications that will ultimately benefit the bank in the long run.

Most of the employees take advantage of this subsidy and are partially funded for their tuition and/or preparation. The evaluation and rating by the bank greatly contribute to the performance and abilities of surveyed employees, as recognized by 100% of them. Although employees are often appraised without their knowledge, on average ICICI bank appraises employees every 6 months, while J;A;K bank does it every 6-12 months. The inquiry about current behavior and what motivates or demotivates employees was asked in relation to the approaches and environment provided by the banks. The replies were diverse

but similar in both banks, and also depend on each employee's work and motivational needs.

Motivational factors play a crucial role in determining employee performance and positively impact the overall achievements of the banks. These factors include benefits and incentives, the social environment and culture provided by the banks, opportunities for growth, and the approaches taken to satisfy employees. The economic status and political environment of Kashmir are uncertain, which affects employees' optimism about the future. The responses from employees of both banks are largely similar, with concerns about constant strikes, security forces' presence, and terrorist activities fueling this perception. The bank management has made positive changes to meet employees' needs and goals. On average, employees are satisfied with the banks' actions and policies.

The employees of ICICI are happy with what the bank does for them and feel motivated to contribute to the bank's success. About half of the J&A;K bank employees feel detached from the bank's initiatives and believe that the bank should do more. However, employees from both banks are generally satisfied with the changes made by the banks to implement more employee-friendly policies, which have improved the working environment and employee performance. The banks respond to your motivational concerns. Your satisfaction level with the support from bank management influences the banks' methods of motivation. The majority of employees in both banks support the banks' motivational efforts. 90% of ICICI employees and 84% of J&A;K bank employees are happy with the methods and techniques used by the banks to motivate their staff. How satisfied are you with the incentives provided by the bank? (1 being the highest) The satisfaction level among ICICI bank employees

is very high.

100% of the bank employees expressed positive satisfaction. Among the J & K employees, 50% reported being extremely satisfied while the rest were moderately satisfied. Which incentives are more motivating for you? The responses from employees of two banks differed significantly. ICICI attracts its employees with high salaries, but it is the benefits that truly entice them to the job. ICICI bank provides its employees with exceptional packages that attract them to the position. Conversely, J & K bank offers competitive wages, but with fewer benefits and rewards.

The employees require higher wages in order to motivate them. Approximately half of the employees in both banks strongly agree that their bank recognizes their work and acknowledges their efforts in work effectiveness. Both banks have an effective assessment system and frequently evaluate their employees' performance to improve their skills and identify any issues. When asked about safety measures in J & K bank, employee reviews were mixed, with half responding positively and the other half disagreeing. However, 72% of ICICI employees are unhappy with the safety measures implemented by the bank, whether it relates to security or the well-being of the employees.

Despite ICICI's provision of good rewards to its employees, there is a lack of promotional chances within the bank. Over half of the employees strongly disagree with this arrangement. In contrast, at J ; A ; K bank, two-thirds of the employees consider their coordination with co-workers to be first-class and friendly. They state that they cooperate on nearly all relevant affairs. A similar stance was expressed by half of the employees at ICICI.

Both ICICI bank and J&A;K cannot guarantee occupation security

for their employees. However, ICICI bank has an advantage over J&A;K in terms of providing employee satisfaction on this issue. When asked about salary increase, many employees expressed dissatisfaction, indicating that it is the most important factor for their performance. Incentives and other benefits have a significant impact on employee performance. 100% of the employees in ICICI as well as J&A;K responded positively, stating that their performance and motivation level greatly depend on rewards and incentives. In terms of decision making connected to their respective departments, employees in ICICI bank are involved in low-level operational decisions.

They are often given the responsibility to handle client issues on their own as they have been trained to make decisions. However, the decision-making authority in J & K bank is limited. Employees are only allowed to make basic decisions. However, the bank management values their suggestions and takes them into consideration at higher levels of hierarchy. When asked about their motivation to see the bank succeed 100%, all employees from both banks clearly expressed their desire to see their bank grow and prosper, as their job security depends on it.

Pay and other benefits are also dependent on the performance of the bank.

Summary

The collected information above demonstrates the significance of motivation for employees. It provides information on employees' needs and what actions managers take to fulfill those needs. The results of this study demonstrate that training, making changes, and addressing employee motivation have a positive impact on employees' ability to perform efficiently. Employees become more effective and efficient in their interactions with customers, and their morale, motivation, confidence, and satisfaction levels increase.

Both Banks have made efforts and continue to work

toward improving the well-being of their employees, which ultimately has a positive influence on their public image and operational efficiency. The factors that motivate their employees, including benefits and incentives, the social environment and cultural support provided by the Banks, opportunities for growth, and the approaches they adopt to ensure employee satisfaction, all contribute to the successful achievement of their goals.