Determinants of Bank Staff Motivation in the Cape Coast Metropolis

Abstract

Staff motivation is one of the key drivers of success in today’s competitive environment. The paper seeks to determine the factors that influence bank staff motivation in the Cape Coast Metropolis. In specific terms, this paper aimed at analysing the variance explained by variables in staff motivation as well as determining whether there are statistically significant differences in the levels of the factors that affect staff motivation. The census sampling method was employed for the study. The responses of 81 staff members were gathered through questionnaires from seven banks in the Cape Coast Metropolis. Descriptive statistics was used for mean levels of the factors whilst a dependent (sample) t-test was used to determine the differences between the levels of the factors. Multiple regression technique was used to identify the factors (determinants) that best explain variance in staff motivation. It was explained from the study that there were statistically significant differences between the levels of the factors that affect staff motivation except between staff supervision and staff perceived competence and staff recognition and job satisfaction. Also, the results of the study revealed that determinants of motivation were recognition and job satisfaction. Thus, they significantly influence bank staff motivation in the Cape Coast Metropolis. The staff recommended that improvement in verbal and tangible recognition of good work as well as interesting and challenging work through job enlargement and enrichment would logically lead to high motivation