Motivation Theories And Job Satisfaction In The Banking Sector: A Reflective Essay

During this subject so far, you have been exposed to various business psychology theories that have an application to individuals, teams and
organisations. Being able to apply these concepts in a practical manner is a key outcome of this course.

The purpose of the assessment task is to write a reflective essay that includes a discussion of the motivation theories you have learnt, and how these may be applied to your own work history. Being able to do so, will assist your ability to evaluate why it is that some people excel in the workplace, while others may not. 

Introduction Defining the Scope of the Essay

The psychological phenomenon that regulates the orientation of the voluntary action that drives an individual towards his or her goal is called Motivation (Peters 2015). Motivation can originate both intrinsically as well as extrinsically and its intensity depends on the nature of the goal and the purposefulness of the one trying to achieve it. An emotional state that exhibits gratification and contentment as a result of positive outcome acquired in a job evaluation, implies job satisfaction (Pettinger 2013). Motivation is an important determinant of an employee’s performance as well as their job satisfaction or dissatisfaction (Pinder 2014). In this essay, I would attempt to iterate the important theories of motivation and reflect on how they have been relevant in influencing my motivation in the role of a Customer Service Representative in a banking Sector.

The fact that an employee is adequately motivated or is demotivated, depends largely on the amount of job satisfaction he or she has. Job satisfaction usually occurs when the conditions of work are in consonance with the employee’s needs and expectation, thus, encouraging him or her to excel in job performance. Thus, these two aspects are interdependent on each other and attributes to a number of favourable or unfavourable consequences (Rahman and Nurullah 2014). The positive outcomes consist of high productivity, optimum utilisation of available resources, proactiveness, good interpersonal relationship with superiors, co –workers and subordinates, cooperativeness and helpfulness and committed to one’s are of discourse (Muogbo 2013). On the other hand, demotivation and subsequent job dissatisfaction leads to absenteeism, lack of adequate involvement in one’s role, poor concentration, low morale and an inferior quality in production. In order to avert such adversaries and improve employee morale, the HR Managers of companies work towards formulating effective tools and mechanisms to modify the existing policies and facilities and channelize their resources to feel involved and valuable (Weiner 2013).

Abraham Maslow, in his theory explaining the hierarchy of needs, has emphasized on six level of needs in human beings starting with the basic physiological needs and eventually ascending to safety and security needs, need for love and belongingness, self –esteem needs and finally need for self-actualization. Although he had theorized it in a general framework, The Need Pyramid is profoundly consistent with a work setting and demonstrates the causes of job satisfaction or dissatisfaction quite appropriately (Jones & Jones 2013). The basic physiological needs of an employee are usually met by the financial compensation and the benefits of healthcare provided by the company. The safety and security needs account for the job security granted by the company through its policies and regulation. The needs of belongingness is determined by the quality of interpersonal relations an employee has with the other staff which ascertains his or her focus and involvement in work. The self-esteem needs are addressed by how much their work in the company is appreciated and accoladed. The final need, which is to seek self-actualization, is fulfilled when the organization values its employees enough to provide them with further growth opportunities (Yadav and Dabhade 2014). As opined by Maslow, the progression of an employee to his or her higher order needs would first require the fulfilment of their lower order needs. If, due to a certain cause, any base-level need is hindered, it would lead to demotivation in the employee and delay his or her progression. However, lack of sufficient empirical data has deterred the popularity of this theory. In addition to this, further research in this field has suggested that even in absence of the fulfilment of basic needs, an employee can display a fair level of motivation with respect to his or her other higher order needs (Imam et al. 2013).

Brief Discussion on Job Satisfaction and Dissatisfaction with reference to three Theories

Within an organisational framework, an individual is affected by multiple factors and biases. Each of these factors either work in isolation or in combination with other factors to cause motivation or demotivation in an employee (Herzberg 2017). However, an individual’s satisfaction in his or her job does not necessarily depend on such motivators. These two dimensions have the potential to impact an individual independently. This very essence was described by Frederick Herzberg in his Motivator-Hygiene Theory. He stressed on the aspect that the degree of motivation a person has, often has no relation with the amount of job satisfaction he or she experiences. The factors that lead to motivation usually comprised of their pay-scale, their achievements and recognition of their effort in the organisation. The hygiene factors comprised of the physical condition of their working environment, their interpersonal relation with colleagues and the company’s policies that yield them the required job security (George 2015). The theory claims that absence or reduction in the quality of the hygiene factors may result in job dissatisfaction but its presence, although curbing the dissatisfaction, does not necessarily assure motivation in the employee.  Similarly, when the motivators exist in adequate level, the employees are assumed to be motivated but their job satisfaction might be at a neutral level. This theory successfully addresses the complexity of human mind with respect to motivation and job satisfaction, stating that the existence of one aspect is not absolute in determining the presence of other (Dugguh and Dennis 2014).

There is yet another theory that attempts at explaining the relationship between motivation and job satisfaction which is known as the Job Characteristic Model, postulated by Hackman and Oldham. This model lays down five core job aspects that tries to motivate an individual intrinsically. These aspects pertain to psychosocial states in a work setting such as skill variety, autonomy of the employee in discharging responsibilities, task identity, significance of the task and feedback on the quality and productivity. Subsequent improvement of these dimension significantly increases job satisfaction in the employee. This model specifically stresses on the job itself rendering it as chiefly instrumental in inducing or weakening motivation. A job that challenges the potential of the employee and enriches his or her learning experience, as opposed to one that is monotonous and does not offer to test skill of the employee, would bring about higher motivation and subsequent satisfaction in them.

I am employed in the banking sector since the last two years as a Customer Service Representative. My job role consists of assisting the customers with their banking activities and requirements. When they have any query regarding mobile banking facilities or internet banking facilities, especially the elderly customers, I happen to provide them with necessary assistance. I am there to ensure that all customers have a hassle-free banking experience. Another part of my duty comprise of attracting the potential customers with the offers and new facilities that the bank provides. Thus, by adopting a day-to-day responsibility as customer service representative has taught me to be a careful listener with refined problem solving skills. Through these interactions with customers or potential clients, I have gained further competence in my communication skills. Though it might appear like a one-dimensional task of taking care of customer needs, it is actually of a much wider range. From blocking a customer’s stolen credit card to explaining another about the fees imposed by bank for availing is facilities, the duties and responsibilities are multi-faced (Setia, Venkatesh and Joglekar 2013). Often, I have to provide the customers with step by step instruction on how to avail a particular banking product to improve his or her financial outcomes. Customers are highly reliant on a customer service representative for any kind of guidance and information. Therefore I have to take special care of supporting them with accurate solution so that they are satisfied and have an outstanding experience in banking with my organisation. At times, satisfied customer goes on to share his or her insight and i have to address their opinion patiently. It not only serves the purpose of keeping customer loyalty intact but also paves path for securing more customers through positive word-of-mouth (Belias and Koustelios 2014). Thus, in the 2 years of my service with this organisation, the core skills that I have acquired would be addressing customer queries and providing them with end to end solution, retailing the bank products to the customers directly, having clear knowledge about various bank products and acquiring technical skills related to transaction. In most occasions, my satisfaction lied in the fact that I was able to assist people in their critical times and they were grateful for my help. I felt valued in the organisation and that my role in the organisation was integral for smooth running of the banking operations.

A Brief Description of my Job

As I have mentioned before, for the successful attainment of its goals and aspiration, an organisation should essentially strive to keep the motivation of its employees intact. It can make a significant difference only by sustaining the importance that each of its employees attaches to their own domain. As long as they find the organisational goals in consonance with their personal expectation from the job, they would remain motivated (Chomal and Baruah 2014).  In my domain, as a customer care representative in banking sector, my motivational level tends to change with the fluctuation of other related aspects. Taking Maslow’s Theory of Need Hierarchy into consideration, it is plausible for me to say that my fundamental needs are met adequately. The organisation provides me with sufficient financial benefits which help me to take care of my family’s basic requirements. With respect to job security, the organisational framework is backed by healthy policies that are convenient for its employees. I have good relation with my supervisor, my peers as well as with the members of the team of junior representatives whom I head.  My work in the organisation is valued both externally and internally. The only shortcoming that I have been facing from the last six month is a scope for further promotion. Having given two years of appropriate service to this organisation with various accolades and recognition, I was expecting a promotion for some time. I aspire to be a manager with more responsibilities assigned to my role. However, even though I am quite motivated in my job, my satisfaction is getting hindered to a considerable expect. The criticality of this issue can be explained with Herzberg’s Model of Hygiene Factors and Motivators. Although my compensation, benefits, interpersonal relations at my workplace and job security is at its level best, I cannot feel sufficiently satisfied with my role as I have higher career aspirations. However, when I am discharging my responsibilities as a Customer Care Representative and clearing doubts of my clients, I am positively reinforced by the appreciation I receive for my problem solving skill. It inspires and motivates me to take myself to the next best level. This aspect can be understood by the Job Characteristic Model which states that motivation essentially depends on the job itself.

In the context of the experience I have gathered in this banking sector, I believe that the organisation can adapt better training policies and provide its employees with scope and opportunity for adequate career progression. By focussing more on the non-monetary benefits such as expanding the job responsibilities, recognising potentially competent employees and delegating authority and autonomy to its employees, the organisation would be able to take a big step towards enforcing positive change in its work environment (Chowdhary 2013).

Conclusion summarising my Insights

To conclude the above essay, I wish to state that the core aspect that differentiates a good organisation from an average one is the level of motivation carried by its employees. If employees are provided with sufficient rewards, incentives and bonus, over and above their compensatory structure, they feel valued and recognised. Along with these monetary benefits, the companies should lay adequate focus on the non-monetary benefits as well which consist of appreciating an employee for his or her exemplary contribution, providing him or her with better growth opportunities, being empathetic and responsive towards their genuine personal crisis and giving them autonomy and timely feedback. There is a high probability that in presence of such factors, employees feel motivated in their jobs and reinforced motivation also yields them job satisfaction.

Reference

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