Assessing The Findings And Data Analysis Business Essay

Published:

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

ICICI Bank and J&K Bank are both situated in the heart of Srinagar, the capital of Indian administered state of Jammu and Kashmir. Both banks are the leading financial services provider in the region. ICICI Bank is one of national banks of India while J&K Bank is state owned organization. Both banks operate in Srinagar through its main branch situated in the centre of the city. ICICI Bank launched its operation in the area after careful and planned strategy, with senior management brought from other offices in the country, hence they were quite experienced. Employees of ICICI bank are trained on regular basis and its training and motivation strategy aligned with its overall mission statement. J&K Bank maintained its presence in the valley since Indian independence. It has gone through many ups and down due to economic, social and environmental situation in the valley. Until recently, it didn't have a proper training strategy or any motivational policy. All the employee training was done when needed. Both banks have a good experience working in the region and compete on the basis of quality financial services. As the economic situation improved, both the banks expanded their operations and successfully set up their own call-centres that work along with their branches' service centres. One thing common between all the banks in Kashmir is that it cannot employ staff from outside of Jammu and Kashmir (apart from senior management) as per Government restrictions.

4.2 Background

Survey conducted from employees via management's help, is a self-assessment by them. The results achieved almost all the expectations. The researcher directed this survey to study the employees' views about the companies and its motivational policy and procedures that affect the employees' performance and eventually effects on the overall banks' performance. These questionnaires explain the research and the perception of the banks' motivational approach in its staff's eyes. This research also explained the reasons behind the findings. To collect viable and reliable information, telephonic interviews were conducted from the senior management. These interviews provided valuable information about banks' policies and how they perceive the work situation. Interviews were also helpful in collecting information about the techniques adapted by banks to motivate its staff.

Employees' questionnaire was distributed to the staff of both banks (randomly selected employees, 50 from each bank) with the management's help. Banks' performances were discussed along with the motivation policy and methods adapted by the banks. All the employees positively responded to the questionnaire although some skipped a few questions.

4.3 Interviews: J&K Bank

In J&K Bank there was no formal employee training and development in the bank but changing nature of economic environment, social attitude of employees and Government regulations have changed the scenario and today development of employees is the core issue for the bank. As stated by the bank management "we understand the importance of our employee motivation in the context of Kashmiri culture and environment and working towards building and aligning our work culture with it. It will definitely help in increasing our workforce motivation which will eventually increase bank performance". It has incorporated the training and motivational issues in its overall strategy. Employee development is an on-going process and the bank put a lot of emphasis on employee motivation because it understands the value of motivational factors on employees' performance is significant. The management of J&K is highly educated, qualified, talented and gifted with qualities to introduce expertise and tactics for developing solutions for its workforce. The management takes extra interest and passion for development of staff. It understands the value of motivated employees for the bank. It put extra emphasis on motivating the staff in context of Kashmir region. The bank realizes that people in the valley need security; therefore it contracts most of the employees on permanent basis. The bank has set up the pension and medical funds for the employees and also contributes part of the payments on employees' behalf. The bank organises Eid parties every year for the employees and their families. According to the management, "Organising events such as Eid Millan Party not only builds friendly relations but help us understand the employee needs better". Apart from this, other informal parties are also organised where employees can meet their colleagues informally in a very friendly environment. The bank has an official complaint procedure where employees can submit their grievances and can openly criticise the bank policies. The bank allows employees in low level decision making and let them integrate into the working system, so that they could work towards the bank's ultimate goals and aspirations by working together. One manager responded in the interview, "The bank treats it employees fairly and with respect".The bank has equal opportunity policy and treats all employees without any discrimination. Females are encouraged to apply and participate in bank operations.

4.4. Interviews: ICICI Bank

Growing competition and market demand forced the ICICI Bank to include the training and motivational issues in its overall strategy. Like J&K Bank, it introduced many new policies and procedures for motivating its workforce. Qualified and experienced managers were employed and re-training of all employees was carried out with the advanced and updated knowledge, education and skills. In one interview, branch manager said, "The bank understands the importance of employee motivation in boosting confidence and morale for doing the job effectively". This concludes that bank does emphasis on motivation. The bank management is highly qualified, educated and experienced and have studied the general nature of the Kashmiri people. It has carried out research into social, economic, political and other environmental factors which helped a lot in formulating the strategies. The bank uses different techniques and methods of motivation (both extrinsic and intrinsic) for different departments. Although the techniques are different, however, they all have the same goal, getting employees to want to do their job better and more efficiently. The bank understands that through effective employee motivation techniques a bank can get much better performance out of their employees. The managers consider many motivational factors and recognizes that employees should be motivated enough to carry out bank operation effectively. Formal complaint procedure is in place and employees can raise any issue with the management personally. The bank offers a highly competitive salary and proposes many benefits along with the pay. It is currently functioning towards improving the working environment that encourages and enables employees to fulfil their own unique potential. According to one interview "The bank appraises its employees on regular basis and keeps a check on their attitudes and performance, sometimes without even letting them know". This proves that the management realizes the importance of employee performance. It always appreciates employees on job done well and positively criticise on work with not so of good standard. When speaking to the manager about morale and motivation of employees, he quoted "we encourage our employees to fulfil what they work for along with achieving the banks' objectives. This impacts the overall morale, motivational level and performance of the employees".

4.5 Analysis: Questionnaires

The purpose of this questionnaire is to advance the understanding of the relationship between work motivation and organisational performance in the banking sector, by testing empirically common elements of existing theoretical frameworks. Findings show that the bank sector in Kashmir provides both extrinsic than intrinsic rewards.

The questions are all related to the aim and objectives of this study. The first four questions of this questionnaire, although, are not directly related to the topic but these help is determining the factors that can influence the motivational needs of the employees e.g. male and female proportion of the workplace has a great influence on the working environment. Males sometimes have different motivational requirements than females. The longer the employee is in the job, the different his/her motivation level is, and the number of hours he/she works for the bank also contributes towards this influence. Working in different departments can also have on impact on motivational levels as some of their demands are met having a job in their required placement. This personal information (first four questions) is useful when analysing other important questions discussed below. Therefore these questions are not discussed in details but are related with other questions in discussion. All questions are aligned with the aim and objectives of this paper.

Your gender?

ICICI Bank

J&K Bank

Your work hours per?

ICICI Bank

J&K Bank

How long have you worked in the bank?

ICICI Bank

J&K Bank

What is your current Department?

ICICI Bank

J&K Bank

Please rate the social environment in the bank? (5 being the highest)

ICICI Bank

J&K Bank

There is nothing more demotivating than an unhappy workplace. Many employee have their own perceptions about the bank environment. The data account in the above table manifests that almost all of the employees in both banks rated their satisfaction above average (ICICI bank, a slightly better). They believe that their bank understands their motivational patterns and work towards making the work environment better. However their expectations vary based upon the nature of their work and positions they hold. The J&K employees have quite a long experience working in the bank while majority of employees in ICICI bank have less than 3 years' experience. 2/3rd of ICICI Bank employees and 3/4th of J&K employees work in customer services and communicate with each other often. The working environment is found friendly and coordination between employees is excellent. The banks have equal opportunity policy and treat all employees without any discrimination. Females are encouraged to apply and participate in bank operations. Most females in both banks are either work in customer services or secretarial positions in other departments so their expectations are slightly different from their male colleagues. The banks also encourage their employees to fulfil what they work for along with achieving the banks' objectives, and provide them every possible opportunity to do so which impact the overall morale, motivational level and performance of the employees.

Does your bank organise social activities?

100% of employees of both banks strongly agree. J&K Bank organises 'Eid' parties for employees and their families every year. Employees are stimulated to organise these parties themselves while bank provides the funds. Apart from Eid parties, different events are arranged at different occasions that are formal as well as informal. ICICI also encourages their employees to participate in events and often funds its employees in different sports tournaments.

How often are you trained to do job better?

ICICI Bank

J&K Bank

The bank put great importance of employee training and development. 66% ICICI bank employees are trained frequently (3-6 months) while the rest are trained from time to time. On the other hand, training and development of J&K bank employees is done occasionally. Only 30% of the employees responded that they are trained every 6months, 32% are trained every 9 months on average and the rest (38%) every year. Most of the employees in both banks have been working for less than 3 years but all have been trained for at least 2 times in their career. Apart from general training, employees are taught on the bank operations frequently. Majority of the employees of ICICI bank are satisfied about the training and development and feel motivated with their training. Many J&K bank employees feel that employee training and development should be done regularly. One thing is common in both banks as responded by employees is that the staff working in customer services that deal with customers face to face are more emphasised for training purposes.

Does your bank provide any perks?

ICICI

J&K

Transport/Car

44%

0%

Rent/Bills

2%

0%

Pension/Fund Contribution

100%

100%

Tuition Reimbursement/Training Program

100%

50%

Other Benefits

44% of the ICICI's employees stated that bank provides them with transport facilities and arrange pick and drop on daily basis. Only the senior executives are facilitated with a car. This service is not available in J&K bank although the branch manager and a couple of executives enjoy this perk. Rents and bills are also fixed for senior management in ICICI bank. 100% of employees of both banks feel motivated and thankful as their pension and other funds are contributed by their employer. While all employees can benefit from study and professional qualification reimbursement by ICICI bank, J&K provides funds to selected employees on genuine cases and only on qualifications that can eventually benefit the bank in long run. Most of the employees take advantage of this subsidy and funded partly for their tuition and/or training.

How often are you appraised?

100% of surveyed employees recognised that appraisal and evaluation by the bank really contributes to their performance and abilities. Although appraisal is often done without letting the employees know but on average employees are appraised every 6 months in ICICI bank while it is done 6-12 months for employees of J&K bank.

What motivates or de-motivates you (Current behaviour)

ICICI Bank

Highly Motivating

Motivating

Neutral

De-motivating

The bank's ethos

44%

26%

20%

10%

The environment of bank

24%

22%

46%

8%

The amount of change in bank

18%

36%

28%

18%

Bank benefits

68%

18%

12%

2%

Career development prospects

14%

14%

34%

38%

Work-life balance

8%

16%

20%

56%

job security

18%

14%

36%

32%

opportunities to learn and develop

14%

72%

4%

10%

Attitudes and behaviour of colleagues

28%

26%

24%

22%

Team working

26%

32%

26%

16%

J&K Bank

Highly Motivating

Motivating

Neutral

De-motivating

The bank's ethos

26%

32%

24%

18%

The environment of bank

22%

28%

40%

10%

The amount of change in bank

34%

24%

28%

14%

bank benefits

48%

34%

8%

10%

career development prospects

20%

32%

26%

22%

Work-life balance

4%

24%

20%

52%

job security

16%

20%

26%

38%

opportunities to learn and develop

36%

32%

16%

16%

Attitudes and behaviour of colleagues

30%

26%

32%

12%

Team working

28%

32%

28%

12%

This question was asked in relation to current approaches the banks have adapted and the environment they have provided to their employees. The above answers were mixed but almost same in both banks. These replies also depend on the work each employee does and his/her motivational requirements. These motivational factors certainly determine the employee performance and have a positive impact on the banks' overall efforts of achievements of their aim. The motivational factors; benefits and incentives; the social environment and culture the banks provide for their employees; opportunities; and the approaches they take in order to satisfy their employees definitely help them attaining their goals.

Rate the motivating factor: What do you want from work: (1 to 5)

Good wages

Job Security

Promotion and Growth Opportunities

Good Working Conditions

Interesting Work

Personal Loyalty to Workers

Tactful Discipline

Full Appreciation for Work Done

Sympathetic Understanding for Personal Problems

Feeling in on Things

100% employees for both companies rated 5 for every answer. Every motivating factor is important for their performance in one way or other.

Your optimism about the bank's future

Economic condition and political environment of Kashmir is unpredictable. Not many employees of both banks are sure and their responses are almost identical. Constant strikes, hated presence of security forces and some terrorist activities fuel towards this perception.

Are you satisfied with the direction and goals of the bank

Bank management has made changes which are positive for employees

Answer to 13 & 14

On average employees are satisfied with the actions and policies of the banks. The employees of ICICI are happier with the bank of what it does for its employees and feel motivated to contribute towards the bank success. Almost half of the J&K bank feel neutral towards bank approaches and think that the bank should do a little more. Employees of both banks are normally satisfied with the changes made by banks to introduce more friendly policies for employees which benefited the working environment as well as employees' performance.

Bank management responds to your motivational issues?

Your satisfaction level with the support from the bank management

Banks's motivation methods

Answer to 15, 16 & 17

Majority of the employees in both banks support the banks' motivational approaches they take. 90% of ICICI and 84% of J&K bank employees are happy with the methods and techniques the banks adapt to motivate their staff.

How far are you satisfied with the incentives provided by the bank? (1 the highest)

The satisfaction level in ICICI bank employees is very high. 100% of the bank employees rated their satisfaction positively. 50% of the J&K employees are highly satisfied while the rest are somewhat satisfied.

Which type of incentives motivates you more?

The answers provided by employees of two banks were very different. ICICI provides its employees high salary but it's the benefits that attract employees more. ICICI bank offers extraordinary packages to its employees that attract them to the job. On the contrast J&K bank offers competitive salary but with less benefits alongside wages. The employees require more pay in order to motivate them.

Please provide the following rates: 4: Strongly Agree and 1: Disagree

ICICI Bank

J&K Bank

Almost half of the employees in both banks strongly agree with the statement that their bank recognises their work and acknowledges their efforts they put in the work effectiveness. The banks have effective appraisal system and they evaluate their employees' performance frequently to improve their abilities and find out any problems. When asked about the safety measures in J&K bank, employees' reviews were mixed as half answered positively while other half responded with disagreement. On the other hand 72% of ICICI employees are not happy with the safety measure adapted by the bank whether it concerned security or well- being of the employees. Although ICICI provides good wages to its employees they lack in promotional opportunities within the bank. More than half of its employees strongly disagree with their approach. 2/3rd of employees at J&K bank said that their coordination with their colleagues is excellent and friendly. They said that they cooperate on almost all relevant matters. Half of the ICICI employees expressed the similar view. Most of the employees require job security which both banks cannot guarantee although ICICI bank has some edge over J&K in providing their employees satisfaction on this issue. When asked of increase in salary, many employees replied that it's not according to their satisfaction level but this is the factor most crucial for their performance.

Rank the following factors which motivates you the most: (on avg)

ICICI

J&K

Salary increase

3rd

1st

Promotion

2nd

2nd

Leave

5th

5th

Motivational Talk

4th

4th

Recognition

1st

3rd

Do you think incentives and other benefits will influence your performance?

Certainly it does. 100% of the employees for ICICI as well as J&K answered positively and stated that their performance and motivational level highly depends upon the rewards and incentives.

Does the management involve you in decision making which are connected to your department?

Employees in ICICI bank are involved in low level operational level decision making process. They are often allowed to tackle the customer situation issue themselves as they are trained to do. Decision making in J&K bank is restricted. It is limited to basic choices that an employee can make. But their suggestions matter to the bank management and these are taken into consideration in higher hierarchical level.

How motivated are you to see the bank succeed

100% of both banks' employees replied clearly that they want to see their bank grow and prosper as their security job depends upon it. Pay and other benefits are also dependent on the performance of the bank.

4.6 Summary

The above collected data proves the importance of motivation for employees. It provides data on what employees demand and what the managers do in order to fulfil their requirements. The results of this survey present a clear picture that training, change and meeting employee requirements for motivation have positive effect on the abilities of employees to perform efficiently. Employees become more effective and efficient in their dealings with customers; their morale, motivation, confidence and satisfaction level increases. Both banks have tried and still are on their mission to work for the benefit for their employees which certainly has a positive impact on their performance which in return affects the banks' effectiveness in their operations. The motivational factors; benefits and incentives; the social environment and culture the banks provide for their employees; opportunities; and the approaches they take in order to satisfy their employees definitely help them attaining their goals.

Writing Services

Essay Writing
Service

Find out how the very best essay writing service can help you accomplish more and achieve higher marks today.

Assignment Writing Service

From complicated assignments to tricky tasks, our experts can tackle virtually any question thrown at them.

Dissertation Writing Service

A dissertation (also known as a thesis or research project) is probably the most important piece of work for any student! From full dissertations to individual chapters, we’re on hand to support you.

Coursework Writing Service

Our expert qualified writers can help you get your coursework right first time, every time.

Dissertation Proposal Service

The first step to completing a dissertation is to create a proposal that talks about what you wish to do. Our experts can design suitable methodologies - perfect to help you get started with a dissertation.

Report Writing
Service

Reports for any audience. Perfectly structured, professionally written, and tailored to suit your exact requirements.

Essay Skeleton Answer Service

If you’re just looking for some help to get started on an essay, our outline service provides you with a perfect essay plan.

Marking & Proofreading Service

Not sure if your work is hitting the mark? Struggling to get feedback from your lecturer? Our premium marking service was created just for you - get the feedback you deserve now.

Exam Revision
Service

Exams can be one of the most stressful experiences you’ll ever have! Revision is key, and we’re here to help. With custom created revision notes and exam answers, you’ll never feel underprepared again.