INFLUENCING FACTORS OF BANK EMPLOYEES' MOTIVATION AND ITS IMPACT ON EMPLOYEES' PERFORMANCE

Keywords: Motivation, Bank, Employees, Performance, Empowerment, Job Security.

Abstract

In this globalization era, banking institutions are facing competition in the marketplace. The demands of the customers are changing immensely day by day. Integration and globalization have become closer and closer to every firm in the competitive market. The main purpose of this study is to determine the motivational factors of bank employees that are related to employees' performance in the working place. The study was qualitative and was conducted using different sources to find out the motivational factors and their impact on employee performance. The researchers focus on the intrinsic and extrinsic motivation of the employees. For this study, data have been collected from previous studies and different sources like the ABDC database, Scopus database, Emerald database, ABS database, Springer database, and previous banking profiles. The study showed that employee empowerment, job security, emotional intelligence, attractive compensation package, and training and development have a positive and significant impact on creating motivation among the employees, which creates better performance in work. Based on the findings of this study, the organization should provide another attractive motivational factor and change HR policies and procedures to create employee motivation. Recommendations were also made for improvement in a certain area, creating motivation for better performance of bank employees in Bangladesh. 

JEL Classification Codes: M120, M150.

Author Biographies

A.R.S. Ibn Ali

Graduate School of Economics, Osaka University, Toyonaka, Japan

A S M Ahsanul Haque

Brac Business School, Brac University, 66 Mohakhali, Dhaka, Bangladesh

Shamsun Nahar

International Relations, Dhaka University, Dhaka, Bangladesh

References

Akhter, A., Islam, K. M. A., Karim, M. M., & Latif, W. (2022a). Examining determinants of digital entrepreneurial intention: A case of graduate students. Problems and Perspectives in Management, 20(3), 153-163. http://dx.doi.org/10.21511/ppm.20(3).2022.13

Akhter, A., Karim, M. M., & Islam, K. M. A. (2022b). The Impact of Creativity and Innovativeness on Digital Entrepreneurship: Empirical Evidence from Bangladesh. Journal of Asian Finance, Economics, and Business, 9(3), 77-82. https://doi.org/10.13106/jafeb.2022.9

Ali, M.J., Karim, M.M., Hitoishi, B.I., Wafiq, H. A., Islam, K.M.A. (2022). Determinants of consumers’ purchase intention to buy smartphones online. Innovative Marketing, 18(2), 109-119.

Ali, M. C., Islam, K. M. A., Chung, S. J., Zayed, N. M., & Afrin, M. (2020). A Study of Green Human Resources Management (GHRM) and Green Creativity for Human Resources Professionals. International Journal of Business and Management Future, 4(2), 57–67. https://doi.org/10.46281/ijbmf.v4i2.857

Ali, M. C., Islam, K. A., Chung, S. J., Zayed, N. M., & Islam, M. R. (2021). The correlation between job-hopping attitude and turnover behavior: A job satisfaction perspective in Bangladesh. International Journal of Business and Management Future, 5(1), 14–26.

Ahmed, S. F., Zayed, N. M., Islam, K. M. A., & Nitsenko, V. (2022). Investigating the impact of re-consumption on co2 emissions: evidence from the saarc countries. Natsional'nyi Hirnychyi Universytet. Naukovyi Visnyk, (3), 107-111. https://doi.org/10.33271/nvngu/2022-3/107

Al-Quraan, T. M., Vovk, O., Halko, S., Kvitka, S., Suprun, O., Miroshnyk, O., ... & Islam, K. A. (2022). Energy-Saving Load Control of Induction Electric Motors for Drives of Working Machines to Reduce Thermal Wear. Inventions, 7(4), 92. https://doi.org/10.3390/inventions7040092

Asheq, A. A., Tanchi, K.R., Kamrujjaman, M., Karim, M.M. (2021). The impact of e-marketing orientation, technological orientation, and learning capacity on online SME performance. Innovative Marketing, 17(3), 168-179. http://doi.org/10.21511/im.17(3).2021.14

Chen, X., Miraz, M. H., Gazi, M. A. I., Rahaman, M. A., Habib, M. M., & Hossain, A. I. (2022). Factors affecting cryptocurrency adoption in digital business transactions: The mediating role of customer satisfaction. Technology in Society, 70, 102059.

Chowdhury, S., Islam, K. M. A., Rahman, M. M., Raisa, T. S., & Zayed, N. M. (2020). One Day International (ODI) Cricket Match Prediction in Logistic Analysis: India VS. Pakistan. Journal of Human Movement and Sports Sciences, 8(6), 543–548. https://doi.org/10.13189/saj.2020.080629

Chowdhury, F. N., Mustafa, J., Islam, K. M. A., Hasan, K. B. M. R., Zayed, N. M., & Raisa, T. S. (2021). Social Business in an Emerging Economy: An Empirical Study in Bangladesh. The Journal of Asian Finance, Economics and Business, 8(3), 931–941. https://doi.org/10.13106/JAFEB.2021.VOL8.NO3.0931

Chowdhury, S., Meero, A., Rahman, A.A.A., Islam, K. M. A., & Zayed, N. M., Hasan, K.B.M. R. (2021). AN EMPIRICAL STUDY ON THE FACTORS AFFECTING ORGANIC FOOD PURCHASING BEHAVIOR IN BANGLADESH: ANALYZING A FEW FACTORS. Academy of Strategic Management Journal, 20(4), 1–12. Retrieved from https://www.abacademies.org/articles/An-empirical-study-on-the-factors-affecting-

Du, P., & Cole, R. J. (2011). Motivating change: shifting the paradigm. Building Research & Information, 39(5), 436-449.

Faisal-E-Alam, M., Meero, A., Rahman, A. A. A., Zayed, N. M., Islam, K. M. A., & Imran, M. A. (2022). Social Media and Tourists’ Decision in Bangladesh: An Empirical Study on Travelling Cox’s Bazar. Journal of Environmental Management and Tourism, 13(4), 925–934. Retrieved from https://journals.aserspublishing.eu/jemt/article/view/7050organic-food-purchasing-behavior-in-bangladesh-analyzing-a-few-factors-1939-6104-20-4-815.pdf

Ekundayo, O. A. (2018). The Impact of Motivation on Employee Performance in Selected Insurance Companies in Nigeria. International Journal of African Development, 5(1), 5.

GAZI, M. A. I., RAHAMAN, A., WALIULLAH, S. S. A., ALI, M. J., & MAMOON, Z. R. (2021). Financial performance of converted commercial banks from non-banking financial institutions: Evidence from Bangladesh. The Journal of Asian Finance, Economics and Business, 8(2), 923-931. https://doi.org/10.13106/jafeb.2021.vol8.no2.0923

Gazi, M.A., & Rahaman, M.A. (2021). Relation to Demographic Factors. The Journal of Asian Finance, Economics and Business (JAFEB), Vol 8, pp. 387–397. https://scholar.kyobobook.co.kr/article/detail/4010028348822

Golzadeh, E. (2010). Factors Affecting Employee Job Motivation in Organizations. Management Central Website.

Islam, K.M.A., Karim, M.M., Islam, S., Haque, S., Sultana, T. (2022). Exploring the effect of job satisfaction, employee empowerment, and emotional intelligence on bank employee performance: A study on commercial banks in Bangladesh. Banks and Bank Systems, 17(3), 158-166. http://dx.doi.org/10.21511/bbs.17(3).2022.13

Iqbal, M. M., Islam, K. M. A., Zayed, N. M., Beg, T. H., & Shahi, S. K. (2021). IMPACT OF ARTIFICIAL INTELLIGENCE AND DIGITAL ECONOMY ON INDUSTRIAL REVOLUTION 4: EVIDENCE FROM BANGLADESH. American Finance & Banking Review, 6(1), 42-55. https://doi.org/10.46281/amfbr.v6i1.1489

Kader, S. A., Zayed, N. M., Khan, S., Islam, K. M. A., & Siddiki, M. N. A. (2019). An Analysis of Socio-Economic Condition of Female Readymade Garments’(RMG) Workers in Dhaka City. The Millennium University Journal, 4(1), 12-20. Retrieved from http://www.themillenniumuniversity.edu.bd/journal/index.php/TMUJ/article/view/26

Kader, S. A., Rahman, A. A. A., Meero, A., Islam, K. M. A., Zayed, N. M., Hasan, K. B. M. R. (2021a). COVID-19: AFTER EFFECTS OF CORONAVIRUS AND ITS IMPACT ON GLOBAL ECONOMY. Academy of Strategic Management Journal, 20(1). 1-9 Retrieved from https://www.abacademies.org/articles/covid19-after-effects-of-coronavirus-and-its-impact-on-global-economy-11472.html

Kader, S. A., Kulsum, U., Islam, K. M. A., Siddiki, M. N. A., Zayed, N. M., & Raisa, T. S. (2021b). Present Situation of the Field Workers in the Development Sector: A Social, Financial and Employment Aspect in Bangladesh. Journal of Southwest Jiaotong University, 56(2). https://doi.org/10.35741/issn.0258-2724.56.2.29

Kabir, M. R., Khan, S., Chowdhury, S., Jahan, S., Islam, K. A., & Zayed, N. M. (2021). Corruption Possibilities in the Climate Financing Sector and Role of the Civil Societies in Bangladesh. Journal of Southwest Jiaotong University, 56(2). https://doi.org/10.35741/issn.0258-2724.56.2.6

Khan, S., Zayed, N. M., Darwish, S., Nitsenko, V., Islam, K. A., Hassan, M. A., & Dubrova, O. (2022). Pre and Present COVID-19 Situation: A Framework of Educational Transformation in South Asia Region. Emerging Science Journal, pp. 7, 81–94.

Karim, M., Islam, J., & Mahmud, L. (2014). Job Satisfaction of Employees in the Banking Sector. A Case Study on Janata Bank Limited. European Journal of Business and Management, 6(17), 70-78. https://www.researchgate.net/publication/266908603

Latif, W. B., & Karim, M. M. (2019). The art of developing entrepreneurial leadership. International Journal of Research in Management, 1(1), 18-21. https://www.researchgate.net/publication/336576494

Mia, M. M., Zayed, N. M., Islam, K. M. A., Nitsenko, V., Matusevych, T., & Mordous, I. (2022). The Strategy of Factors Influencing Learning Satisfaction Explored by First and Second-Order Structural Equation Modeling (SEM). Inventions, 7(3), 59. https://doi.org/10.3390/inventions7030059

Naveen, C. J., Islam, K. M. A., Chowdhury, F. N., & Zayed, N. M. (2020). Testing Communicative Language Teaching (CLT) through English for Today (EFT) in Bangladesh: Challenges Faced by Tertiary Students Initially. American International Journal of Education and Linguistics Research, 3(2), 19–27.

Nahar, S., Meero, A., Rahman, A. A. A., Hasan, K. B. M. R., Islam, K. M. A., Zayed, N. M., Faisal-E-Alam, M. (2021). ANALYSIS ON THE MARKETING STRATEGY AND COMPETITIVE ADVANTAGE OF BANKING INDUSTRY IN BANGLADESH: AN ENTREPRENEURIAL CASE STUDY OF HSBC BANK. Academy of Entrepreneurship Journal, 27(4). 1-7. Retrieved from https://www.abacademies.org/articles/Analysis-on-the-marketing-strategy-and-competitive-advantage-of-banking-industry-1528-2686-27-4-552.pdf

Prajapat, V., Taru, R. D., & Atikur, M. A. (2022). Comparative Study about Expansion of Digital Libraries in the Current Era and Existence of Traditional Library, 4(6), 1526-1533.

Rahaman, M. A. (2016a). Employees’ perception of recruitment and selection practices in local companies. International Journal of Ethics in Social Sciences, 4(1), 165-176.

Rahaman, M. A. (2016b). Human Resource Management practices Recruitment and selection process in Multinational Company. Journal of Economics and Development Studies, 5(1). https://www.researchgate.net/publication

Rahaman, M. A. (2020a). China –A growing Story Human Resource Management and Corporate Performance. World Vision Research Journal, 13 (1), 63-73

Rahaman, M. A. (2020b). Quality Assurance of Public and Private Universities in Bangladesh. Entire Research, 13(5), 19-32. https://www.researchgate.net/publication/353166833

Rahaman, M. A. (2020c). Key Factors of Higher Education in Bangladesh: multiplicity, excellence and convenience. World Vision Research Journal, Vol. 13, No. 1. http://bv-f.org/WV-13/1.pdf.

Rahaman, M. A., & Taru, R. D. (2020). Challenges and Opportunities: Technology Enablement for Digitalization in Banking and Other Business Sectors. Bi-Lingual International Research Journal, 10(39), 106-112.

Rahaman, M. A., & Uddin, M. S. (2022). The Effect of Promotion and Job Training on Job Satisfaction of Employees: An Empirical Study of the SME Sector in Bangladesh. Journal of Asian Finance, Economics and Business, 9(2), 255-260. https://doi.org/10.13106/jafeb.2022.vol9.no2.0255

Rahaman, M. A., Ahmed, T., Gupta, A., Taru, R. D., Ali, A. R. S. I., Ali, J. (2022a). What Factors Do Satisfy Employees of SME Business Sector? A Study on a Developing Economy. Academy of Entrepreneurship Journal, pp. 28, 1–5.

Rahaman, M. A., Hassan, H. K., Asheq, A. A., Islam, K. M. A. (2022b). The interplay between eWOM information and purchase intention on social media: Through the lens of IAM and TAM theory. PloS one, 17(9), e0272926. https://doi.org/10.1371/journal.pone.0272926

Rahaman, M. A., Gupta, A., Ali, A. I., Ali, M. J., & Taru, R. D. (2021a). Identification of Determining Factors of Employee Performance of SME Business. Academy of Entrepreneurship Journal, 27(6), 1-5.

Rahaman, M. A., Luna, K. F., Kejing, Z., Ping, Z. L., Taru, R. D. (2021b). Determinants of Accepting Internet Banking System: A Case Study in Bangladesh. Journal of Asian Finance, Economics, and Business, 8(5), 931-937. https://doi.org/10.13106/jafeb.2021.vol8.no5.0931

Rahaman, M. A., Luna, K. F., Mite, S., Islam, M., Wafik, H. (2021c). The effect of entrepreneurial orientation, market orientation and gender on business performance: An empirical study of SMEs in Bangladesh. The Journal of Asian Finance, Economics and Business, 8(6), 741-746. https://10.13106/Jafeb.2021.Vol8.No6.0741

Rahaman, M. A. (2021). Conceptual Model on Students’ Entrepreneurial Intention towards Digital Social Entrepreneurship. Emerging India through sustainable development and innovation in atmanirbhar bharat. https://www.researchgate.net/publication/351049478

Rahman, A. A. A., Meero, A., Zayed, N. M., Islam, K. M. A., Rabban, M. R., Bunagan, V. D. R. (2021a). IMPACT OF LEVERAGE RATIOS ON INDICATORS OF FINANCIAL PERFORMANCE: EVIDENCE FROM BAHRAIN. Academy of Strategic Management Journal, 20(3). Retrieved from https://www.abacademies.org/articles/impact-of-leverage-ratios-on-indicators-of-financial-performance--evidence-from-bahrain-11166.html

Rubi, M. A., Chowdhury, S., Rahman, A. A. A., Meero, A., Zayed, N. M., & Islam, K. M. A. (2022). Fitting Multi-Layer Feed Forward Neural Network and Autoregressive Integrated Moving Average for Dhaka Stock Exchange Price Predicting. Emerging Science Journal, 6(5), 1046–1061. https://doi.org/10.28991/ESJ-2022-06-05-09

Rahman, A. A. A., Darwish, S., Meero, A., Zayed, N. M., Islam, K. M. A., Raisa, T. S. (2021b). EMERGING STRATEGIES AND ECONOMIC IMPACT OF COVID-19: A CASE STUDY OF GULF COOPERATION COUNCIL COUNTRIES (GCC). Academy of Strategic Management Journal, 20(1). 1-10 Retrieved from https://www.abacademies.org/articles/emerging-strategies-and-economic-impact-of-covid19-a-case-study-of-gulf-cooperation-council-countries-gcc-11270.html

Shahriar, M. S., Islam, K. M. A., Zayed, N. M., Hasan, K. B. M. R., & Raisa, T. S. (2021a). The Impact of COVID-19 on Bangladesh’s Economy: A Focus on Graduate Employability. The Journal of Asian Finance, Economics and Business, 8(3), 1395–1403. https://doi.org/10.13106/JAFEB.2021.VOL8.NO3.1395

Shahriar, M.S., Hasan, K.B.M.R., Hossain, T., Beg, T.H., Islam, K.M.A., & Zayed, N.M. (2021b). Financial decision making and forecasting techniques on project evaluation: a planning, development and entrepreneurial perspective. Academy of Entrepreneurship Journal, 27(4), 1–7. Retrieved from https://www.abacademies.org/articles/Financial-decision-making-and-forecasting-techniques-on-project-evaluation-a-planning-development-1528-2686-27-4-553.pdf

Vu, T. A., Plimmer, G., Berman, E., & Sabharwal, M. (2019). Managing employee performance in transition economies: A study of Vietnamese public organizations. Public Administration and Development, 39(2), 89–103.https://doi.org/10.1002/pad.1850

Yuan, D., Gazi, M. A. I., Rahman, M. A., Dhar, B. K., & Rahaman, M. A. (2022). Occupational stress and health risk of employees working in the garments sector of Bangladesh: An empirical study. Frontiers in Public Health, 10. https:// 10.3389/fpubh.2022.93824

Zayed, N. M .Z., Meero, A., Rahman, A. A. A., Islam, K. M. A., Shahiduzzaman Khan Shahi, Shama Tasnim. (2021a). Demand and Supply-Side Analysis of Dhaka Based Online Business during the COVID-19 Pandemic: Evidence from Bangladesh. Journal of Southwest Jiaotong University, 56(3). https://doi.org/10.35741/issn.0258-2724.56.3.47

Zayed, N. M., Islam, K. M. A., Shahi, S. K., Rahman, M. S., & Raisa, T. S. (2021b). AN ANALYSIS ON THE EFFECTS OF CORONAVIRUS (COVID-19) ON THE FINANCIAL MANAGEMENT OF MULTINATIONAL CORPORATIONS. Australian Finance & Banking Review, 5(1), 43–53. https://doi.org/10.46281/afbr.v5i1.1015

Zayed, N. M., Edeh, F. O., Darwish, S., Islam, K. M., Kryshtal, H., Nitsenko, V., & Stanislavyk, O. (2022). Human Resource Skill Adjustment in Service Sector: Predicting Dynamic Capability in Post COVID-19 Work Environment. Journal of Risk and Financial Management, 15(9), 402. https://doi.org/10.3390/jrfm15090402.

Zayed, N. M., Edeh, F. O., Islam, K. M. A., Nitsenko, V., Dubovyk, T., & Doroshuk, H. (2022). An Investigation into the Effect of Knowledge Management on Employee Retention in the Telecom Sector. Administrative Sciences, 12(4), 138. https://doi.org/10.3390/admsci12040138

Published
2022-11-24
How to Cite
Ali, A. I., Haque, A. S. M. A., & Nahar, S. (2022). INFLUENCING FACTORS OF BANK EMPLOYEES’ MOTIVATION AND ITS IMPACT ON EMPLOYEES’ PERFORMANCE. American International Journal of Multidisciplinary Scientific Research, 13(1), 21-27. https://doi.org/10.46281/aijmsr.v13i1.1835
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper