Employee motivation and performance management within a large bank in KwaZulu-Natal.
Every individual has a different reason to wake up in the morning; the motives are the main determiner of our behaviour. Motive is an outcome that is desirable and does not operate in vacuity, but is affected by the process of perception, learning and thinking. The relationship between employees and their organisations is determined by what motivates them to work, rewards and fulfilment. Line managers need to know and understand what motivates their employees in order to reach their desired goals. The main variables addressed by this study include how employees’ perceptions of challenges prevent them from meeting their contracted performance targets, and their attitudes towards the implementation of incentive schemes. The objectives of this study were to determine the effect of reward and recognition systems on employee motivation, the effectiveness of the performance management system that has been implemented within a large bank in Kwa-Zulu Natal (KZN), and whether performance management is being effectively linked to reward systems. The study followed a quantitative approach, with a web-based questionnaire which was constructed using an online questionnaire which was distributed to the respondents electronically. A non-probability sampling method was utilised to achieve the set objectives. According to the findings, most employees are not happy with the current incentive scheme and there is no sense of belonging with the organisation, hence staff morale is very low and it has been identified that even line managers lack motivation. According to employees’ comments, there is too much to do with little compensation and incentive. It has been identified that the employees are very loyal hence they have not left the organisation, therefore the way forward is for management to develop a strategy on extrinsic motivation which will develop a drive amongst employees to do more and focus on achieving their desired goals.