Examination of employee motivational practices at merchant bank in the Kumasi metropolis

Abstract

The general objective of this study was to examine employee motivational practices at Merchant Bank in the Kumasi metropolis. The study was a descriptive study. The study population was 104 from the four branches in the Kumasi metropolis, out of this number, 85 (48 clericals, 33 supervisors and 4 managers) were selected as the sample size for the study. A multiphase sampling technique used was to select the participants. A questionnaire was used as the major tool to collect data from the respondents for analysis using the statistical product for service solutions (SPSS version 17.0) software. The study revealed that fringe benefits are the most important motivational package existing at Merchant Bank. The office premise was very conducive for both customers and the employees to enhance smooth business and build a good corporate image. Again enhanced salary/allowance and loyalty to the bank was the most influenced work characteristics that affect employees’ performance. The availability of motivational package increased employees’ work output. It was recommended that Board of Directors and management of Merchant Bank should motivate the clerical staff with meritorious promotions, job rotation and job enrichment to reduce boredom and challenged them to be innovative. Frequently train supervisors and managerial staff to develop sharper skills so that staff can be up to the task when given the opportunity. The workers were also advised to take any training and development programmes organised by management serious and be delighted in serving customers all the time with improved strategies.